Impact Pricing

This is an Impact Pricing Blog published on March 8, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/pricing-professionals-have-trained-incapacity/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

This one is the 7 of Diamonds from the Selling Value card deck. So, when you talk to your buyers about value, they do shift the way they think from spending on an expense toward investing. Because typically when you or anyone is shopping for something, we're thinking, how much do I have to pay and what are the features that I'm going to get? And we stop thinking about the value of what it is that we're buying. And if we have the opportunity to help our buyers understand, hey, when you go solve this problem, what's the value of solving that problem? So maybe, yeah, you're going to pay me a lot of money, but think about all the money you're going to make in additional profit because of the fact that you bought an implemented and used my product. And if we can get them focused on the value, they become a little bit less price sensitive and they trust us and like us even more. So, my recommendation is, talk about value way more than we talk about features and price. We hope you enjoyed this example of Pricing Tab

Dick Sobel was with Emerson for 21 years where he mostly worked on pricing roles. Currently, he is the managing director of PricePoint Partners, a company that helps clients achieve significant gains in price realization and profitability with salesforce implementation utilizing cloud-based Acuity Margin Management BI software. In this episode, Dick talks about the work they do at PricePoint Partners as he points out the importance of assessment and consulting in coming up with optimal solutions to clients’ problems. He also touched on the topic of AI interference in the pricing world.   Why you have to check out today’s podcast: Learn the work that PricePoint Partners does, the range of clients they serve, and how they could help your company in pricing Find out why you can’t rely on AI alone in doing prices and why AI can do better in B2C than in B2B Find out why today is the best time to raise your prices   “Inflation's persistence is here to stay for a long time. And if you're not doing something right

This is an Impact Pricing Blog published on March 1, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/wow-a-price-decrease/ [powerpress] If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

This one is the 7 of Clubs from the Selling Value card deck. Anytime you're in a sales situation, we think to ourselves, Hey, we need to be selling against our competition. We need to point out why we're better than our competitors.  Yeah, and maybe we do. I'm not going to say we don't need to do that.  However, if we take the time to help the buyer understand, what's the underlying problem they're truly trying to solve? What's the value of solving that problem? And how it is that we help them solve that problem? It builds trust. They start to know that we understand their situation, we understand their problem. They believe that we'll be better at solving it simply because we've expressed the fact that we understood it.  Oh, and when we help them build the business case, they are grateful because they need this information to help sell up inside their organization anyway. Because no one's going to buy something unless they know that it's going to help them make more money. And so, we need to help our buyers

Alex Galkin is the Co-Founder and CEO of Competera, a pricing optimization SaaS company converting technologies into ready-to-use products for enterprise retailers worldwide. Alex has been a mentor at his startups for several years, and he’s a Ukrainian who left four days before the war started. In this episode, Alex helps us understand the pricing and ML work that they do at Competera as he talks about the three models they always put into use.   Why you have to check out today’s podcast: Understand why you should treat pricing as a process Find out how Competera helps their clients in making pricing decisions Discover three models that Competera puts into use as MLs look for reasonable factors to make a price adjustment   “Pricing is a process, and you need to continuously improve as any other process in your organization.” – Alex Galkin   Topics Covered: 01:04 – How Alex got into pricing 03:07 – The work that Competera does in relation to pricing, and how they do it 08:28 – Using ML-driven price recommen

This one is the 7 of Hearts from the Selling Value card deck. It is true, value propositions really are awesome. Marketing teams, companies, sit around to try to figure out, what's the value proposition of this product? And it turns out that we can often come up with something that's pretty good, pretty general. It essentially is the solution to a problem that most people have, and we think of that as the value proposition. But the thing is, the value proposition isn't specific enough. Anytime you go to an individual customer, or an individual buyer, they've got different problems. Maybe our value proposition caught their attention, got them to come talk to us. But in the end, we need to understand, what are the specific problems that that buyer has? What's the result that that buyer's looking to achieve? And then help them figure out, what's the business case for that? How much value, or additional profit, will they make because they're solving those specific problems? So, I love value propositions. They're

This is an Impact Pricing Blog published on February 22, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/lessons-from-the-library/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

Casey Brown is the President of Boost Pricing, and she has been since 2011. She started her career as a Chemical Engineer at GE, and she's been in pricing for almost 20 years now. Casey loves whitewater kayaking, and she's a big Buckeye fan. In this episode, Casey explains how important it is for sellers to connect with the emotional component of the buyer/s as she shares her knowledge on how to substantially increase your ability to earn higher prices.   Why you have to check out today’s podcast: Learn how crucial the seller’s mindset and beliefs are to the business’ profitability, especially as to whether they’re operating from a place of confidence or fear Find out why you should not put the blame on cost increases when doing a price increase Understand the power of taking into consideration the emotional component, like selling value through the language, mind, and heart of your customer   “I have yet to find, even in this current economic climate, a company that doesn't have some pricing opportunity, a

This one is the 7 of Spades from the Selling Value card deck. It is true that when a buyer's asking for help justifying a purchase, this is the ultimate opportunity to influence that sale. Let's take a step back for just a minute and think about what a customer is going through. And if you ever have the opportunity to help a buyer understand their underlying problems, what's the value of solving those problems, you've become a trusted advisor. You've become someone that this company, this person, looks to for real information so they can make smart decisions. Now, this is a very different decision process than, how is your product better than somebody else's product? Instead, they've brought you in to help create the business case. What a great position. And if we go to the table that I have in the Selling Value book, you'll find that this is the beginning of the trust or the relationship journey. Where they say to you, would you please help me answer, is this a good place for me to spend my money? Is this a

This is an Impact Pricing Blog published on February 15, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/amc-changes-pricing-finally/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

Griff Parry is the Founder and CEO of m3ter where he helps make it easy for SaaS companies to intelligently deploy and manage usage-based pricing. He's led AWS’ go-to market strategy for games and gambling in EMEA, and his background includes entertainment at Sky TV and accounting at Ernst & Young. Griff was an extra in the movie “First Night” around 1993. In this episode, Griff shares the work that they do at m3ter in helping customers deploy and manage usage-based pricing. He also discusses common pricing challenges, especially on doing a price change, emphasizing the importance of agility and transformation.   Why you have to checkout today’s podcast: Understand the importance of having the agility to change pricing models quickly and in different situations, especially as to why pricing is not a one-and-done thing Discover how m3ter helps SaaS companies make it easy to deploy and manage usage-based pricing Find out in which circumstance usage-based pricing works best as you learn about different pric

This is an Impact Pricing Blog published on February 8, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/a-price-signaling-example/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

This one is the 8 of Diamonds from the Selling Value card deck. Let's say that you are in a marketplace where people almost always decide between your product and competitor's products. Gee, could I think of some? How about an automobile, right? You happen to be the Audi dealer and somebody is, somebody just crashed their car and we think they're going to walk into our Audi dealership. In our mind we're thinking, Hey, they're not only looking at us, but they're also looking at BMW or Mercedes or Lexus or Porsche, right? There's lots of different places where they might be go looking at my competitive alternatives. And so as a salesperson, I might be thinking, Ohh, I've got to sell against all of these other problems, or all of these other competitive alternatives. On the other hand, it is very possible that somebody walks into our showroom and isn't going to consider a competitive alternative. They walk into our showroom because somebody told them that we are the best product, we're the best dealership, and t

Satish Dharmarajan is the Director of Pricing and Business Intelligence at Orkin, He is an Advisory Board Member at the University of Tennessee at Chattanooga, and has held analytics roles at Home Depot, Walgreens, and Whirlpool. Satish also acts in short films. In this episode, Satish educates us on differentiating products/services from competitors of similar offerings as he stresses the importance of understanding the buyer’s journey along with the core problem that they want to solve.   Why you have to checkout today’s podcast: Learn the importance of knowing what the buyer's journey is and what state they are in as they come in to buy a product Find out how brands differentiate themselves from competitors when they all offer the same products/services Understand how customer-perceived value helps brands sell well even with competitors   “If you know your customer, you can price it right. If you know what they're looking for, you can have them pay what you want them to pay for your product or service.” 

This is an Impact Pricing Blog published on February 1, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/evaluating-a-pricing-strategy/ [powerpress] If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

This one is the 8 of Clubs from the Selling Value card deck. Okay. You're wondering to yourself, do buyers ever not consider competitive alternatives? And the answer is, absolutely yes!  Some easy consumer examples. When you buy popcorn at the movie theater, you couldn't buy popcorn anywhere else. Therefore, you didn't consider a competitive alternative. You just said, am I going to buy popcorn here or not? And that's why they get away with charging really high prices for popcorn.  What about last gas for 75 miles, when you're in the middle of nowhere and you only have an eighth of a tank of gas left? Are you going to buy gas at that gas station that's four times the price? Heck, yes you are! And that's because they know you didn't consider a competitive alternative. There wasn't one to consider at the time.  Our job as salespeople should be to try to find different customers and recognize whether they're going to be looking at, or talking to, competitive alternatives.  For example, if someone was referred to

Johnny Cheng is the Senior Director of Pricing and Packaging at ClickUp. He was the Senior Director of Pricing and Packaging at Coupa Software, and has years of experience in Product Marketing through various companies. In this episode, Johnny shares his knowledge and experience on product marketing and product management as he educates us on the benefits of solution pricing, especially as to how a lens test helps on creating packages.   Why you have to checkout today’s podcast: Find out what crucial perspective companies miss when pricing sits in finance Learn about the benefits of having solution pricing, as well as to how you can sell value instead of features Discover a packaging system that incredibly works, both for the customers and the company   “Go do the lens test. Even if your packaging is already set, I would go back and do that exercise. I feel like if you do it across different teams, you'll be very surprised at what you see.”  – Johnny Cheng   Topics Covered: 01:05 – How Johnny got into prici

This is an Impact Pricing Blog published on January 25, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/transitioning-to-selling-subscriptions/ [powerpress] If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

This one is the 8 of Hearts from the Selling Value card deck. Oh, my gosh! If a buyer ever asked me to help them with a business case, I'm inside quietly jumping up and down rejoicing because they're asking me to do what I would like to be doing with them anyway. So, instead of me walking them through and convincing them that this is an important thing that they really want to know the answer to, they asked me. Oh, my gosh! And so, if they've asked me for help with a business case, what they're really asking for is, how do I convince my executives that we should be spending money on this problem? Or a better way to say that is, how do I document the value of solving these problems? How much additional profit are we going to make because we spend money to solve these problems? That is such a phenomenal place to be because inherent value, the value of solving the problems, is the piece of the puzzle that we as salespeople so rarely spend a lot of time on, and yet we should. Because not only does it help our buy