Impact Pricing

This is an Impact Pricing Blog published on Sept 16, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/value-propositions-vs-value-selling/  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

Robert Tinterov is a CEO at Atenga Insights Group. He is a serial entrepreneur, investor, Advisor, and his expertise are also in Sales, Marketing, General Management, Product development, and disrupting digital media. In this episode, Robert talks about how you can explore your pricing walls and use it to increase demand for your business and scale your growth.   Why you have to check out today's podcast: Learn to identify your price walls so you can map prices according to your target audience and maximize profits Find out how to ask the right question about a person's willingness to pay Learn why pricing potential needs to be raised in the boardroom and how it can be done   “Learn and explore your price walls. Instead of avoiding them, work with them, use them and create higher demand for your products or services.” - Robert Tinterov   Topics Covered: 01:38 - How he got into pricing 02:45 - What does Atenga focuses on 04:00 - Three levels of potential users of Atenga 05:01 - People purchasing from Atenga

To be a pricing leader, you must be a value-based business.  Welcome to the Impact Pricing Memecast, where I take one of our daily memes and provide a little bit more insight behind the word.  In general, a company is either a pricing leader or a pricing follower. A pricing leader is someone who looks at the steady-state of pricing and says, we're going to change our prices first. “If you want to be a pricing leader, you really need to be focused on value, not on cost plus.” - Mark Stiving  And typically the rest of the market is going to follow that pricing leader. However, if you want to be a pricing leader, you really need to be focused on value, not on cost plus.  Especially not on competitive pricing. Once you, as a company can focus on value, you have the ability to see that the market is willing to pay more than what you are currently charging. You have the ability to see that your products are highly differentiated from your competitors or that you've got very loyal customers who are going to stay wit

For a change, Mark doesn't have a guest for today. Instead, he answers questions he would have liked interviewers to ask him. And part of that is, he highlights some important ideas and insights inside his new book with the title of 'Win Keep Grow: How to Price and Package to Accelerate Your Subscription Business.' Join us in this episode as we get to preview some of the golden nuggets in Mark's newest book.   Why you have to check out today's podcast: Find out the important revenue buckets you must manage in subscriptions, so you maximize revenue Find out the three essential value levers that companies who are running subscriptions should have to manage and think about to arrive at a good pricing decision Discover four ways to grow your customers, so you increase revenue   "One of many things I find fascinating about subscriptions is that many subscription companies have figured out I have to go win customers, and I have to go keep customers. But far too few have figured out, hey, I really should spend tim

This is an Impact Pricing Blog published on Sept 8, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/messaging-a-price-increase/ 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

The best pricing metrics are highly correlated with users value metrics.  A pricing metric is what do we charge for McDonald's charges for hamburgers? That's a simple pricing metric, PayPal charges a percentage of the revenue that we collect. That's a pricing metric. There are many different types of pricing metrics, especially in the world of SaaS. We have the ability to choose many, many different possible pricing metrics. We could choose the number of clicks we could choose. The number of leads we could choose, the amount of data that somebody downloads or the number of gigabytes. Someone has access to there's many, many different possible. Pricing metrics. Probably the most common is users. How many users are there or a per seat basis, we get to choose what pricing metric we want to use. And what we want to do is choose a pricing metric that is highly correlated with a value metric and a value metric is how is it that a customer perceives value from the product. “Choose a pricing metric that is highly cor

With over 20 years of software experience, Ryan Glushkoff provides pricing and product marketing expertise for business-to-business (B2B) software companies. This includes offer packaging, pricing, market research, and pricing strategy and organization. Prior to founding Fraction8, Ryan cut his teeth in both the pre-sales and post-sales world for both mass-marketing and custom-enterprise software companies, which gives him a unique perspective on how SaaS companies need to price and market themselves for success. In this episode, Ryan shares what important data set his qualitative and quantitative interviews and surveys uncover to arrive at a pricing decision.   Why you have to check out today’s podcast: Find out the three types of competitive research you can use to understand your competitors’ offer structure so you come up with the right pricing decision Learn about what different companies are using in their pricing structure Find out what is of utmost reason for putting your price online   “Pricing is

This is an Impact Pricing Blog published on Sept 1, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-cost-of-win-keep-grow/  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

There's really only two basic types of value that customers can get. And that's real value and perceived value. Real value is after they've bought the product they're using it. How does it truly impact their life? How does it really make a difference or solve their problems or yield results?  That's real value in the world of B2B. We could think of real value as economic value. How much more money does it make or save the customer? That's real value. However, before somebody buys the product, they don't really know the real value. “Perceived value is the only value that matters in price.” -Mark Stiving In fact, nobody really knows how much value any specific customer is going to be able to get from any specific product. What that means is that before somebody purchases our product, it's all about perceived value. What does a customer believe they're going to get after the fact? What we need to be thinking of in terms of setting prices or communicating value to our marketplace is making sure our buyers maintai

Jeff Robinson is the CEO at Revolution Pricing LLC and Author of Price for Growth! In this episode, Jeff shares how pricing should be a strategic effort in driving a company's growth. He talks about how pricing executives should think in terms of long-term margin, having growth precedes profit.   Why you have to check out today's podcast: Find out why pricing people should be at the front and center in driving value conversations for strategizing a company's growth Learn how to look at the customers' value long-term and generating profit for life rather than looking out for profit for a year and ruining your long-term profit Discover the two macro goals of pricing so you think of it as a long-term profit-generating engine   "Think about the growth aspect of your business before you think about the profit aspect of your business. Think about the engine of growth before you think about harvesting profits." - Jeff Robinson   Topics Covered: 01:31 - How he started his pricing career 02:34 - Sharing his story of

This is an Impact Pricing Blog published on August 15, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/failed-to-keep/  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

Pricing really encompasses almost every department inside your company, because when you think about it, pricing is how do we capture that? And so now it's all about value, what's value to the customer. In fact, what's perceived value to the customer and we can work our way backwards and say salespeople on a one-on-one basis, talking to customers are trying to help each individual customer understand how much value our product might be able to deliver. “Product teams create value. Marketing communicates value. Sales helps buyers understand their specific value. Pricing captures value. Everyone is coordinated.”- Mark Stiving Marketing, on the other hand, looks at a whole bunch of people and says, what's the type of value that most people are looking for. How can I communicate that value? How can I communicate that we're solving problems for those people? And then we take a step back to the product management or product development piece, and they better be building products that provide value to our customers.

Mike Wilkinson is called 'The Value Selling Expert' and he helps Sales Directors/VPs and sales teams understand customer value and get paid what they're worth. In this episode, Mike shares how you need to get to the generic issues of the business first, document and understand what the company faces so you know how and where to add value, and ultimately defend your pricing.   Why you have to check out today's podcast: Learn how to solve the 'value mystery', so both customer and seller discover how much value there is going to be Find out why salespeople should need to have business acumen, so you understand how your customer's business works and know where to look for value Discover the right approach to the ROI calculator, so you know where you add value   "Don't apologize for your pricing. Be proud of it and look for the value. Don't discount first. Value first. Then think about if you need to discount." - Mike Wilkinson   Topics Covered: 01:59 - Sharing his thoughts on an ROI calculator gap being pointed

Business in its simplest form is getting paid for providing value to the customer. It may be true that they're going to get the value. It may not be true that they're going to get the value, but they believe they're going to get the value. And what we need to do is make sure we understand what our customers or our buyers are looking for.  What does value mean? “Business, in its simplest form, is getting paid for providing value to the customer.” - Mark Stiving Typically, we could think of this as our buyers have a problem they need to solve, they have a result they're trying to achieve and aspiration thereafter. The only reason that people buy a product from us or from anybody. If they perceive value. If we can help our customers understand what our value is and the more they understand our value. The more likely they are to buy. And in fact, the more likely they are to pay us a higher price.  Because when we think about business, business is really about us giving value to our customers, and in exchange, the

This is an Impact Pricing Blog published on April 18, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/pricing-when-costs-go-up/  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

Ayon Bhattacharyya is an experienced business leader with significant success in revenue growth through commercial problem-solving. He is implementing innovative pricing solutions, fact-based analysis, and market research, drawing upon his stakeholder management and influencing skills to gain the support of other senior leaders. In this episode, Ayon shares the need to understand your customers, so you can segment without merging them and you gauge their willingness to pay and set the best pricing.   Why you have to check out today's podcast: Learn about customer segmentation and how to go about defining it to arrive at optimal pricing for a particular segment Find out how customer segmentation helps articulate your value proposition to solve different problems Learn how to categorize your buyers best so you lead with value and not pricing   "Do your research and know your customers. Identify your customer segments and, where feasible, perform price experiments to validate willingness to pay. And don't be a

This is an Impact Pricing Blog published on April 11, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/price-moves-during-market-shocks/ 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

First, a zero-sum game essentially means the size of the pie is fixed. If we have a pie there and you get to cut it that, and I get to choose which half I'm going to take, then that's a zero-sum game because the more I take, the less you get, or the more you take the less I get. In price negotiations, assuming we don't change the product or the offer. And it's just a debate on how much is a customer going to pay in order to buy our product. That's a zero-sum game. The more they pay, the more we get and the less money they get to keep and vice versa. However, that's not the way business works. “Business is not a zero-sum game. Focus on increasing value to the customer.” – Mark Stiving We shouldn't be thinking of our business as a zero-sum game. Instead, if we're clearly listening to our customers in our marketplace, we can create features and products and capabilities and nuances of our, of our products so that the buyers get more and more value. And the more value they get, the more they're likely willing to

Monica Sinha is a Price benchmarking Lead and Senior Manager at Capgemini. She has over 15 years of experience in the Finance sector which includes experience with the business finance team of Tech Mahindra, the commercial management office at Accenture, brokerage department at Karvy Computershare Pvt. Ltd., and corporate finance department at Tata Finance Ltd. In this episode, Monica shares how benchmarking increases your confidence in winning deals. And she also talks about when benchmarking truly becomes helpful -- that's when teams work together to truly connect with the customer to attain the best possible final price for a quote.     Why you have to check out today's podcast: Find out how benchmarking helps validate the final price Learn how benchmarking helps increase your chance of winning the deal Find out how you go through benchmarking the competitors' price and the nuances that are involved in it   "When you are in the pricing line, then I think you need to have a very holistic view. We just can

This is an Impact Pricing Blog published on June 28, 2021, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/disney-understands-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:  Email: mark@impactpricing.com LinkedIn