Pricing on value instead of hours

A number of years ago I took a client named Alex out to lunch. As is typical, I asked how we could be better. He paused for a moment; thought and delivered the best advice I've ever received from that question. "I don't care about your hours" was his response. He went on to explain how we always estimated in hours how long the work would take. While he appreciated having a metric to measure value. He didn't really have a frame of reference to truly validate the reference. If he knew what it took to build websites, he wouldn't be seeking companies like ours to do it for him.