For those of you unfamiliar with the concept of "Dollarization", I'll start with a definition:
"Dollarization is the act of translating into dollars and cents the benefits your customers get from the products and services you deliver."
In other words, rather than simply claim your product is faster, lasts longer, is more reliable, Dollarization allows you to show your customer that an investment of X dollars (the price) will produce a return of Y dollars.
On its surface, Dollarization is a pretty simple, intuitive concept. But putting it into practice can be tricky and must be done with care.
I plan to use this blog to share examples of how companies have used Dollarization and lessons they have learned. These examples will cover a range of industries — from healthcare to oil fields to financial services. Despite the diversity of industries, the principles are universal, and lessons can be applied to nearly any business-to-business sales and marketing environment.
Stay tuned for more...