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Impact Pricing

Business & Economics Podcasts

The Impact Pricing Podcast will help you win more business at higher prices by teaching you about pricing and value. Once you understand how your buyers perceive the value of your product, you can build, market and sell products that win at higher prices. Pricing is really about creating, communicating and capturing value.

Location:

United States

Description:

The Impact Pricing Podcast will help you win more business at higher prices by teaching you about pricing and value. Once you understand how your buyers perceive the value of your product, you can build, market and sell products that win at higher prices. Pricing is really about creating, communicating and capturing value.

Language:

English


Episodes
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Blogcast: Reduce the Risk of Raising Prices

6/21/2024
This is an Impact Pricing Blog published on May 2, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/reduce-the-risk-of-raising-prices/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:02:41

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Unlocking Pricing Potential Using the Pricing Spineometer with Tim Smith

6/17/2024
Tim Smith helps executives address critical questions in pricing, marketing, sales, and corporate strategy in the face of high uncertainty by using proven best practices informed by solid academic research. In this episode, Tim delves into the Pricing Spineometer, a comprehensive tool designed to assess a company's pricing capabilities. By examining financial performance and organizational structure, one can provide valuable insights into the gap between a company's current pricing practices and optimal strategies. He also touches on the crucial role pricing plays in business success and the importance of CEO involvement in driving pricing excellence. Why you have to check out today’s podcast: "Take the time to apply the expertise necessary to your pricing questions. Think about it, and then listen to that expertise." - Tim Smith Topics Covered: 01:36 - Sharing an enriching experience teaching and consulting 02:45 - How he found himself in pricing 04:08 - What made him create Pricing Spineometer, what is it all about, clarity on it measuring a gap versus a scorecard 07:31 - The process of using the Pricing Spineometer 11:40 - How the initial financial analysis sets the foundation for understanding a company's pricing needs and capabilities 14:29 - Understanding that creating a Pricing Spineometer for a company involves significant work and expertise 16:26 - AI's impact on pricing and the companies' various reactions on their pricing capabilities assessment with pricing spineometer 19:16 - Valued for the expertise and insight not on time spent 20:08 - Surprises coming up for different companies pricing sophistication 22:19 - Does the CEO takes care of the development of pricing expertise and how does a CRO differ from a VP of Pricing 24:26 - Tim's best pricing advice Key Takeaways: "If you changed the way you thought about pricing, there'd be a huge bottom line impact to your company." - Tim Smith "You're charging for the intellect that goes into the work, not the actual amount of time it takes to do the work." - Tim Smith "There are ways to get around tools, there are ways to use the tools, but you’ve got to understand what the goal is." - Tim Smith People/Resources Mentioned: http://www.pricingsolutions.com/world-class-pricing-the-journey/https://www.ti.comhttps://www.walmart.comhttps://www.coca-cola.com/us/enhttps://www.pepsi.com/https://www.nvidia.com/en-us/https://www.kraftheinzcompany.com/ Connect with Tim Smith: https://www.linkedin.com/in/drwiglaf/https://wiglafpricing.com/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:28:23

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Blogcast: The Value of a Feature: How to Create Value Tables

6/14/2024
This is an Impact Pricing Blog published on April 25, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-value-of-a-feature-how-to-create-value-tables/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:06:13

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Navigating Price Changes: Overcoming Fear and Implementing Strategy with Patrick Meegan

6/10/2024
Patrick Meegan is a Managing Director at Investor Group Services. Experienced in technology, industrials, consumer products, retail and e-commerce, subscription programs, pricing, and product strategy. In this episode, he delves into the complexities of pricing strategies, emphasizing the importance of aligning prices with the perceived value and understanding market segments. She also explores the nuances between B2C and B2B pricing, highlighting the transparency in B2C and the significance of marketing and packaging in consumer products. Additionally, she provides insights on implementing price changes effectively in different organizational sizes and navigating the challenges of setting prices through distribution channels. Why you have to check out today’s podcast: "Spend time pressure testing the ideas." - Patrick Meegan Topics Covered: 01:51 - The best way to teaching case studies and the how to go about each case 02:49 - How he ended up in pricing despite lack of pricing background 03:59 - Value-based pricing and understanding buyer behavior 05:03 - The process of generating pricing insights 06:39 - Application of a framework to generate pricing insights 08:57 - Challenges and strategies for executing pricing changes, particularly in larger organizations 11:17 - Overcoming fear of raising prices. 13:08 - Strategies for reducing fear and uncertainty when implementing price increases 15:42 - The appropriate role of salespeople in pricing decisions 17:32 - The importance of setting and managing price floors and discounting policies for salespeople 21:34 - Maintaining pricing integrity and avoiding discounts 22:46 - The differences between B2C and B2B pricing strategies and how crucial is setting the end user price first when selling through distribution or channels 26:46 - Pat's best pricing advice Key Takeaways: "If we can't understand from the buyer's side what's driving their purchase, then it's hard for us to understand how to sell to them, how to negotiate, where to hang the value, how to package and how to structure the pricing model." - Patrick Meegan "I cringe so much when I see people going out with a price of whatever it is with a discount right along with it because whatever value established you just eroded by saying it wasn't worth that." - Patrick Meegan "Your portfolio also plays an important role in how you can influence pricing." - Patrick Meegan People/Resources Mentioned: https://www.kimberly-clark.com/en-ushttps://www.kleenex.com/en-us/https://www.huggies.com/en-us/ Connect with Patrick Meegan: https://www.linkedin.com/in/patrickmeegan/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:29:02

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Blogcast: B2B Market Research Is Overrated

6/7/2024
This is an Impact Pricing Blog published on April 18, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/b2b-market-research-is-overrated/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:02:24

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AI vs. SaaS: Transforming Software Pricing and Value Delivery with Steven Forth

6/3/2024
Steven Forth is Ibbaka’s Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business. In this episode, Steven explains how AI can significantly enhance software customization and pricing, enabling more precise value delivery for each customer. He emphasizes that while AI introduces new capabilities, it does not fundamentally change the core principles of pricing. Why you have to check out today’s podcast: "Before they invest a lot of time and effort in developing or pricing their own AI, find out what their customers are already doing and how they're thinking about the problems." - Steven Forth Topics Covered: 00:47 - Skepticism as well as optimism regarding AI and addressing the hype surrounding AI 04:15 - Exploring how AI might impact software pricing compared to the changes brought about by cloud-based SaaS. 07:05 - The way AI can optimize software configurations and pricing based on individual value drivers for each customer 10:44 - Discussing how SaaS fundamentally changed software pricing compared to AI 14:11 - How AI, while it enhances capabilities and user experiences, does not fundamentally change the underlying principles of pricing 16:31 - What is a value model? 18:15 - Pricing being tied more closely to value with the rise of AI 23:27 - Steven's best pricing advice Key Takeaways: "The underlying ways that we think about pricing have not changed because of generative AI and will not change, but some of them we’ll be able to execute on much, much more effectively." - Steven Forth "I think of pricing not as being something that is data-driven, but something that is model-driven." - Steven Forth "AI is changing how we build, deliver, and experience the functionality that software and data can bring. But as it does that, it also opens new ways for us to think about the pricing of the applications and the data." - Steven Forth People/Resources Mentioned: https://pros.comhttps://www.microsoft.com/en-ph/Donhttps://www.nngroup.com/people/don-norman/https://www.nngroup.com/people/don-norman/https://www.totogi.comhttps://www.mckinsey.comhttps://www.linkedin.com/in/thomas-tom-nagle-2bb2288/https://zilliant.comhttps://www.pricefx.comhttps://www.vendavo.comhttps://www.linkedin.com/in/tomasztunguz/ Connect with Steven Forth: https://www.linkedin.com/in/stevenforth/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:25:47

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Blogcast: Value for Buyer Personas

5/31/2024
This is an Impact Pricing Blog published on April 11, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/value-for-buyer-personas/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:03:48

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Dynamic Pricing Strategies for Sustainable Recurring Revenue with Amanda Northcutt

5/27/2024
As a consultant, coach, and 6-time executive, Amanda Northcutt has launched, grown, and scaled online businesses with fantastic results on both the individual and organizational level, while creating extraordinary, frictionless, and successful journeys for their customers. In this episode, Amanda delves on the importance of focusing on customer retention and expansion to maximize recurring revenue. And leveraging foundational desires and social proof to enhance one's marketing efforts. She also highlights the value of dynamic and continuous pricing strategies and the need for personalized connections in sales and the impact of showing proven value to customers. Why you have to check out today’s podcast: "Always be testing your pricing. Your pricing should not be static. That is such a rookie mistake to think that you've nailed it the first time, or at any time really." - Amanda Northcutt Topics Covered: 01:39 - An accidental entry into recurring revenue 03:20 - Talking about the time of Salesforce' rise in the SaaS industry 04:46 - Sharing her journey into the subscription-based business model 05:57 - The challenges and importance of marketing and delivering value in subscription-based businesses 08:25 - An added challenge for SaaS businesses of needing a product that continuously delivers value to retain customers 10:46 - The need to create expansion opportunities with tailored solutions and the need to leverage social proof to strengthen the value proposition to potential and existing customers 13:31 - Understanding and leveraging consumer psychology and desires to drive value perception and retention in both B2B and B2C contexts. 15:46 - Expanding on customer's foundational desires as effective marketing strategies 17:21 - Helping customers achieve their goals and meet their needs rather than simply trying to make a sale. 20:06 - Describing her current work and her pricing approach for her clients' customers. 25:52 - Amanda's best pricing advice 26:57 - What it means to be always testing your pricing Key Takeaways: "...the whole deal with recurring revenue: If your marketing sucks, one, people aren't going to sign up. Two, if you're not delivering value over and over and over and over and over again, people are going to churn." - Amanda Northcutt "If you truly actually care about someone and you want to help match them with a solution that is actually going to help them not only reach their foundational desires, but the real business needs that they have, that's where the most sales are going to be made." - Amanda Northcutt "Desperation is the enemy of all sales, ever." - Amanda Northcutt "Another element of closing the deal in an automated sales funnel is that guarantee is very, very, very important. It's right up there with social proof." - Amanda Northcutt People/Resources Mentioned: https://www.tamu.edu/https://texags.comhttps://en.wikipedia.org/wiki/Marc_Benioffhttps://www.salesforce.com/ap/https://alanweiss.com/about-alan-weiss/https://convertkit.com https://www.activecampaign.com/ https://www.primevideo.com/ Connect with Amanda Northcutt: https://www.linkedin.com/in/northcuttamanda/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:29:18

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Blogcast: Expert-Approved Pricing Insights at Your Fingertips: Discover Our Custom Pricing GPT

5/24/2024
This is an Impact Pricing Blog published on April 4, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/discover-our-custom-pricing-gpt/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:02:59

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Banking on Value: Pricing Strategies for Competitive Edge with Sundar Ramanathan

5/20/2024
Sundar Ramanathan is a Banking Product and Pricing Executive with experience in exceeding/meeting growth, capital, liquidity, and profitability objectives through product and pricing levers. In this episode, Sundar emphasizes the importance of moving beyond product commoditization, instead, focusing on creating value through customer experiences, and pricing as the outcome of value creation. Why you have to check out today’s podcast: "On the retail banking side, we hear commoditization a lot. But I think there is an opportunity to go beyond that. I think products disappear and experiences emerge, and experience is what creates value. And value can be priced." - Sundar Ramanathan Topics Covered: 01:36 - How he found himself in pricing 02:47 - Talking about examples of banking products 04:39 - Is bank's pricing based on value or cost 09:15 - The importance of balancing cost and value and highlighting the indifference curve in pricing 11:55 - Determining the area of indifference in banking pricing 16:06 - How to let borrowers decide in your favor over your competitors 19:37 - Where you create value pricing in banking products 22:06 - Sundar's best pricing advice Key Takeaways: "The product structure and pricing might be commoditized, but where you create the value and enhance your pricing margin is the experience." - Sundar Ramanathan "You will never know the right pricing unless you are bold enough to make those decisions to test that elasticity and have a plan B." - Sundar Ramanathan "You can only create value by removing the friction as much as possible compared to competition.” - Sundar Ramanathan "You can never win by pricing." - Sundar Ramanathan Connect with Sundar Ramanathan: LinkedIn: https://www.linkedin.com/in/sundar Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:23:57

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Blogcast: Show Me The Value!

5/17/2024
This is an Impact Pricing Blog published on March 28, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/show-me-the-value/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:02:26

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Navigating the Complexities of Pricing with AI and Data Science with Vivek Anand

5/13/2024
Vivek Anand leads a team of data scientists, statisticians and operations research professionals that apply Data Science and Operations Research techniques to build production ready solutions for problems related to Price Optimization, Inventory Management, and Fulfillment Optimization for a Fortune Fashion retailer. In this episode, Vivek delves into the strength of combining science and machine learning to make informed pricing decisions. He emphasizes the importance of starting small and continuously enhancing strategies through data-driven approaches. It also explores the differences in B2C and B2B pricing, the impact of AI on supporting salespeople, and the challenges of misaligned incentives in achieving business success. Why you have to check out today’s podcast: "If you're new to the journey, start small. You don't have to go and build a transformer network on day one. Even a simple EDA, Exploratory Data Analysis, can give you a ton of insights than just a guesswork." - Vivek Anand Topics Covered: 01:19 - What paved his way into pricing 03:26 - How credit risk and interest risk influence pricing derivatives 04:37 - Thoughts on quantifying risks 05:36 - Data science in relation to AI advancement 07:39 - AI capabilities in capturing contextual and temporal information and other pricing techniques using AI 11:30 - Talking about AI and extrapolation 12:47 - B2C pricing versus B2B pricing and the significant difference in data availability between the two 18:38 - How AI can be utilized in the B2B world to assist salespeople in pricing and negotiation 23:57 - Vivek's one best pricing advice Key Takeaways: "B2C is mostly, pricing is a lever to generate demand. Whereas in B2B, it's more of a lever to gauge the willingness to pay from the customer's standpoint.” - Vivek Anand "I think data science is a big tent, and AI is a part of it." - Vivek Anand “The way I think about AI is like, instead of making it heuristics, it learns from the data or it just comes up with a mechanism that just translates input to the output, more systemic, faster learning and can be deployed at scale.” - Vivek Anand Connect with Vivek Anand: LinkedIn: https://www.linkedin.com/in/va2260/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:27:08

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Blogcast: A Value Perception Gap

5/10/2024
This is an Impact Pricing Blog published on March 21, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/a-value-perception-gap/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:03:09

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The Pricing Landscape: Insights from the Professional Pricing Society Conference with Steven Forth

5/6/2024
Steven Forth is Ibbaka’s Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business. In this episode, Steven delves into the dynamic world of pricing strategies as revealed through the lens of the Professional Pricing Society event. He talks about the latest developments, innovative practices, and thought-provoking discussions emerging from these events of pricing professionals. From uncovering cutting-edge pricing technologies to dissecting evolving pricing trends that offer valuable insights to help you in navigating the ever-changing landscape of pricing strategies especially where AI is concerned. Why you have to check out today’s podcast: "The other problem or challenge, I think, that one can have with AI-based approaches to pricing is the sort of black box nature. And generative AI, gives something of a path forward for that." - Steven Forth Topics Covered: 01:46 - Steven highlighting how the Professional Pricing Society [PPS] listens to Impact Pricing podcast 03:29 - Professional Pricing Society's calendar of events this year 04:39 - What's coming up for this year's event: Return of the book store 06:25 - Featured and notable books available at the event 09:54 - Other interesting things coming up for PPS' event 11:28 - Steven's important thoughts on pricing sustainability and some examples on point 15:41 - What differentiates a value model from a sustainability model as far as Ibbaka's concerned 17:26 - What he thinks of these big pricing vendors approach to AI 18:46 - Talking about pricing industry frustration and the black box nature of AI and the shift to generative AI 21:19 - Discussing the application of generative AI in a dynamically configuring software and its implications on the pricing strategies 24:56 - Sharing about the scale and complexity of traditional value model as well as the potential of generative AI to quickly adapt to different pricing and value configurations 28:39 - Watch out for an upcoming webinar on May 23rd 29:08 - What he thinks of people's reception to his presentation at the Professional Pricing Society's conference Key Takeaways: "Feel good metrics or social responsibility, none of those things are really going to get people to buy and pay for sustainable solutions. It has to be tied to value, and you have to be able to show that your green solution provides more value than the competing solutions." - Steven Forth "I think the secret here, at least from a pricing and modeling approach, is to find those variables that get used across the different models. And by having the same variable used in different models you can pull sustainability together with value together with pricing." - Steven Forth People/Resources Mentioned: https://impactpricing.com/podcast/564-exploring-game-changing-pricing-dynamics-for-different-industries-with-arnab-sinha/ https://www.amazon.com/Game-Changer-Strategic-Pricing-Business/dp/1394190581https://impactpricing.com/?s=stephan+liozuhttps://www.linkedin.com/in/nick-nalepa/ https://www.amazon.com/Stop-Racing-Blindfold-Pricing-Science/dp/099068380Xhttps://www.michelinman.comhttps://www.hydropoint.comhttps://www.vendavo.comhttps://pros.comhttps://www.pricefx.comTotogi:https://www.totogi.com/https://www.bcg.com/publications/2023/resilient-pricing-for-uncertain-world Connect with Steven Forth: https://www.linkedin.com/in/stevenforth/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/mark@impactpricing.com

Duration:00:30:26

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Blogcast: Using Value to Break Down Silos

5/3/2024
This is an Impact Pricing Blog published on March 14, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/using-value-to-break-down-silos/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:03:54

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Navigating Retail Pricing: Walmart's Pricing Strategy Explored with Rishi Bhatia

4/29/2024
Rishi Bhatia is an experienced analytics consultant, data expert and market research professional with domain expertise in retail, technology, telecom, apparel, manufacturing, and insurance domain. In this episode, Rishi shares about Walmart's lower pricing strategy. He emphasizes the importance of prioritizing the customer when determining pricing strategies. He also highlights the significance of leveraging data and analytics to inform pricing decisions. And also the importance of adopting AI-driven models to streamline operations and remain competitive in the market. Why you have to check out today’s podcast: "Put your customer first. Rather than going for the traditional route, learn from the data as much as you can. And then, improve your models constantly based on how can you get the prices right." - Rishi Bhatia Topics Covered: 01:01 - How he found himself in pricing 02:46 - Why everyday low price policy for Walmart and how do they maximize revenue with this strategy 03:46 - Pricing and how it affects loyalty and retention 05:18 - What makes Walmart's margins high other than lower prices 06:48 - How AI in pricing optimization has evolved from basic insights generation to sophisticated model-driven recommendations 08:41 - Is AI a blackbox and how the process works in achieving pricing decision 11:31 - Walmart's primary focus regarding pricing decisions and how AI ensures timely transitions between product cycles and maintaining profitability 13:47 - How algorithms and recommendations ensures consistency and optimization across the retail chain 14:44 - Discussion around Wendy's dynamic pricing 19:49 - Rishi's response to Mark's advice for retailers and also talking about Walmart Plus 21:15 - Rishi's best pricing advice 23:12 - How do you measure value in retail products Key Takeaways: "Value pricing, what does your customer want, at what price your customer will be more loyal to you and what will they... because pricing is one component that everyone wants low price." - Rishi Bhatia "When you're putting the product, rather than going for the traditional route, learn from the data as much as you can and improve your models constantly based on that, how can you get the prices right." - Rishi Bhatia "If you're able to improve on that and the customer, your overall complaints are also going down. And that is one value you can measure from that perspective as well. It's not always in the monetary term, it's always on the customer satisfaction side as well." - Rishi Bhatia People/ Resources Mentioned: https://www.walmart.comhttps://www.uber.com Connect with Rishi Bhatia: LinkedIn: https://www.linkedin.com/in/rishi-bhatia-5480577/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:24:46

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Blogcast: To Fee or Not To Fee? That is the Question

4/26/2024
This is an Impact Pricing Blog published on March 7, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/to-fee-or-not-to-fee-that-is-the-question/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:03:21

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Segmentation Strategies Uncovered: Driving Revenue through Focus and Value with Stephan Liozu

4/22/2024
Stephan Liozu has studied, researched, and practiced value-based pricing for over 15 years now. That includes training, speaking, consulting, managing pilot projects, and coaching large scale pricing transformations. In this episode, Stephan highlighted the utmost importance of understanding the value delivered to customers before setting prices, emphasizing a value-first approach to pricing strategies. Why you have to check out today’s podcast: "Do the value work first and then worry about pricing. So, value-based pricing is 90% value, 10% price. So, if you want to do that very well, value first, then price." - Stephan Liozu Topics Covered: 02:25 - How Stephan started in pricing 04:13 - Customer segmentation as it relates to value pricing 05:25 - Effective ways of maximizing segmentation 07:17 - Defining customer segmentation and how the SaaS scenario Mark described relate to that 10:16 - Integrating value pricing into customer segmentation 13:03 - What value means to the price buyer 14:11 - How is market segmentation different from customer segmentation? 16:52 - Discussing about product segmentation and taking software for an example 21:28 - The challenge of operationalizing customer segmentation 24:57 - Why focus on one market segment 26:41 - The need to not excessively customize your product 27:42 - Stephan's best pricing advice Key Takeaways: "Pick one market, focus on it, find your ICP, and then get a few logos; see what happens." - Stephan Liozu "Do the value work first and then worry about pricing." - Stephan Liozu "If you want to do that [value-based pricing] very well, value first, then price." - Stephan Liozu People/Resources Mentioned: https://investor.owenscorning.com/https://www.thalesgroup.com/en Connect with Stephan Liozu: LinkedIn: https://www.linkedin.com/in/stephanliozu/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:28:48

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Blogcast: Your Inward Focus Causes Horrible Decisions

4/19/2024
This is an Impact Pricing Blog published on February 29, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/your-inward-focus-causes-horrible-decisions/ 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: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Duration:00:03:36

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Price Justification Techniques: Building Confidence in Sales with Mike Bosworth

4/15/2024
Mike Bosworth is a Co-Founder of WeConcile considered as the world's first Relationship Rescue and Restoration application. In this episode, Mike shares effective pricing strategies and sales techniques to hold prices. Why you have to check out today’s podcast: "Understand the value, i.e. how your buyer would use a particular piece of your product to solve their problem. And if you have that knowledge, it's really easy to defend the value of your price." - Mike Bosworth Topics Covered: 02:13 - Mike's pricing approach 03:16 - Understanding why salespeople are losing the conversation when it comes to price 06:40 - What is a 'buying vision' and how helpful it is for buyers 07:26 - The need for salespeople to know well their customer's business 10:20 - How 'premature elaboration' gets you at a disadvantage 13:58 - Explaining 'cost justify' and 'price justify' from the buyers point of view 20:49 - The importance of patience in negotiation and use of "polite No's" to stand your ground on pricing 24:36 - Book resource of major negotiation stories you can check out 25:42 - Mike’s pricing advice Key Takeaways: "The only salespeople who can go out and negotiate their own prices are those ahead of quota." - Mike Bosworth "I say to the managers, if your salesperson is under quotas, you have to go out there and provide the backbone and coach the call ahead of time.” - Mike Bosworth “We want to teach them how to survive that call, but on their own, they're not going to have the ability to do it." - Mike Bosworth People/Resources Mentioned: https://www.xerox.com/en-us https://www.salesforce.com https://www.barnesandnoble.com/w/hold-out-david-n-crabtree/1119321227 Connect with Mike Bosworth: Linkedin:https://www.linkedin.com/in/mikebosworth/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

Duration:00:26:46