Impact Pricing

Marcos Rivera is the founder of Pricing I/O and author of "Street Pricing." He brings 25 years of pricing experience, including a three-year tenure as an operating executive at Vista Equity Partners where he worked on pricing strategies across multiple portfolio companies. He's been running Pricing.io since 2019 and is passionate about the intersection of pricing and AI. In this episode, Marcos shares his insights on the evolving landscape of pricing in the age of AI, the importance of capturing value, and how companies can differentiate themselves in a competitive market. Together, they discuss the shift from traditional pricing models to outcome-based pricing and the role of AI in enhancing pricing strategies.   Why you have to check out today's podcast: Discover how AI is changing the pricing landscape and what it means for businesses.  Explore the relationship between pricing, value, and customer outcomes. Learn about the importance of low-friction entry points in pricing strategies.   “AI forces you to walk the walk versus talk the talk.” – Marcos Rivera   Topics Covered: 02:48 – The evolution of pricing in SaaS where the system gets credit for capturing more value using AI. 05:36 – The significance of capturing value quickly and efficiently. 08:09 – Differentiation in a competitive market and the role of pricing power. 12:16 – The importance of entry points and reducing friction for customers. 14:44 – How product design and pricing design are interconnected. 17:07 – The challenges of pricing in the AI landscape. 18:59 – Marcos's approach to using AI in pricing strategies. 28:56 – Pricing advice from Marcos.   Key Takeaways: “Pricing is about capturing value, and AI opens up new opportunities for that.” – Marcos Rivera  “Entry points matter; make them as low friction as possible.” – Marcos Rivera  “Understanding how to differentiate your offering is crucial in a crowded market.” – Marcos Rivera   People and Resources Mentioned: Steven Forth: https://impactpricing.com/podcast/691-pricing-in-the-agent-economy-the-future-beyond-subscriptions-with-steven-forth/ Vista Equity Partners: https://www.vistaequitypartners.com/ Pricing.io: https://www.pricingio.com/ Finn AI: https://www.glia.com/ Zendesk: https://www.zendesk.com/ Cursor: https://www.cursor.com/ HubSpot: https://www.hubspot.com/ Salesforce: https://www.salesforce.com/ Snowflake: https://www.snowflake.com/en/ Netflix: https://www.netflix.com/ Slack: https://slack.com/ 99designs: https://99designs.com/ DeepSeek: https://www.deepseek.com/en ChatGPT: https://openai.com/ Claude: https://claude.ai/ Grok: https://grok.com/ Perplexity: https://www.perplexity.ai/   Connect with Marcos Rivera: LinkedIn: https://www.linkedin.com/in/marcoslrivera/ Website: https://www.pricingio.com/    Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/  Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on March 24, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/reasons-why-b2b-salespeople-discount/ 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/

Steven Forth is the Co-founder & CEO of Ibbaka and a recognized expert in generative AI in pricing. With extensive experience in the intersection of artificial intelligence and pricing strategies, provides valuable insights into how agents are transforming the pricing landscape. In this episode, Steven discusses the concept of AI agents, their role in pricing, and how they can deliver value in various contexts. Together, they explore the implications of AI-driven agents on user interfaces, pricing strategies, and the future of business interactions.   Why you have to check out today's podcast: Understand what agents are and how they differ from general-purpose AI. Discover how pricing strategies for agents can be structured around value delivery. Learn about the future of agent-to-agent interactions and their impact on pricing.   “Understanding what job your agent is going to do is critical for pricing.” – Steven Forth   Topics Covered: 02:07 – Definition of agents and their functionality.  03:17 – Differences between agents and general-purpose AI like ChatGPT.  05:11 – User interface simplicity and complexity in agent design. 08:16 – The AI agent layer cake and its implications for pricing.  11:12 – Access and usage-based pricing for agents.  14:03 – Outcomes-based pricing and its challenges.  16:16 – Tokenization. 20:27 – The importance of understanding the job an agent performs for pricing.  24:31 – Steven's insights on the evolving landscape of pricing strategies. 31:28 – Steven's pricing advice around agents. 31:53 – How to connect with Steven.   Key Takeaways: “Agents make it easier to do things, and if those things are valuable, we're going to do them a lot more.” – Steven Forth “Pricing agents will require a shift in how we think about value delivery.” – Steven Forth   Resources and People Mentioned: Jakob Nielsen: https://en.wikipedia.org/wiki/Jakob_Nielsen_(usability_consultant)  OpenAI: https://openai.com/  Zilliant: https://zilliant.com/  Perplexity: https://www.perplexity.ai/  Salesforce's Agent Force: https://www.salesforce.com/ap/agentforce/  Marc Benioff: https://en.wikipedia.org/wiki/Marc_Benioff  AI Agent Layer Cake: https://www.ibbaka.com/ibbaka-market-blog/how-to-price-ai-agents   Connect with Steven Forth: LinkedIn: https://www.linkedin.com/in/stevenforth/  Email: steven@ibakka.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/  Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on March 17, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/practical-pricing-in-a-world-with-tariffs/ 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/

Mike Blake is the founder of High Score Strategies, with over 26 years of experience in business valuation and M&A markets. He specializes in advising small to medium-sized businesses (SMBs) on increasing their valuations. Mike is passionate about the relationship between pricing and value, and how effective pricing strategies can significantly impact a company's worth. In this episode, Mike shares his insights on how pricing affects valuation, the importance of differentiation in a competitive market, and the shift from growth to profitability in business models. Together, they explore the concept of context-driven pricing, the significance of signaling in pricing strategies, and how companies can leverage their unique data to enhance their market position.   Why you have to check out today's podcast: Discover how pricing communicates a company's brand and market position. Explore the relationship between pricing, profitability, and business valuation. Learn about the importance of differentiation and how to create a competitive moat.   “Pricing is language. It communicates to the market what kind of brand you are.”  – Mike Blake   Topics Covered: 01:37 – The relationship between pricing and valuation.  02:30 – The importance of pricing in determining profitability and cash flow. 03:39 – Differentiation and competitive moats in pricing strategies.  04:53 – The shift from growth to profitability in business models. 08:36 – Signaling in pricing and its impact on investor perception.  11:17 – How to differentiate in a market dominated by larger players.  13:23 – The relevance of pricing strategies for SMBs, and how service-based companies offer consulting as value-ad. 17:04 – What Mike does. 19:36 – Why businesses that don't know their business model. 20:53 – Why value-based pricing is excruciatingly difficult. 25:53 – Mike's advice on pricing and negotiation.   Key Takeaways: “Pricing is the stem cell for all of that. [Cash flow, revenue, and profitability]” – Mike Blake “Companies that get pricing right are the most valuable.” – Mike Blake “If you're selling 100% of your deals you're probably not optimizing your revenue because you're selling too cheaply.” – Mike Blake “Understanding your unique data can create alternative revenue streams.” – Mike Blake   Connect with Mike Blake: LinkedIn: https://www.linkedin.com/in/unblakeable/ Email: mblake@highscoresstrategies.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/  Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on March 3, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/pricing-ai-the-rules-havent-changed-but-your-strategy-should/ 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/

Deepak Bhootra is the CEO of Jabulani Consulting, with over 19 years of experience in the tech industry, including significant roles at Hewlett Packard and Sun Microsystems. Deepak has a deep understanding of pricing strategies and their impact on sales performance. He is passionate about helping organizations navigate the complexities of pricing and sales operations. In this episode, Deepak shares his journey into pricing and sales, discussing the cultural nuances of negotiation in India and how they influence pricing strategies. Together, they explore the challenges salespeople face with pricing, the importance of understanding value from the customer's perspective, and how AI can play a role in pricing strategies.   Why you have to check out today's podcast: Discover the common pitfalls salespeople face when discussing pricing. Explore the importance of aligning pricing with customer value and the psychological aspects of pricing. Learn how AI can enhance pricing strategies and sales effectiveness.   “Pricing is something that companies use to control sales behavior. Salespeople don't like to be controlled.” – Deepak Bhootra   Topics Covered: 01:46 – Deepak introduces himself and shares his background in pricing. 03:10 – The cultural significance of negotiation in India and its impact on pricing. 07:44 – The relationship between sales and pricing and the challenges salespeople face. 14:21 – Discussion on the emotional aspects of pricing and how they affect sales decisions. 17:12 – Insights into the importance of understanding value from the customer's perspective. 23:09 – The role of AI in enhancing pricing strategies and sales effectiveness. 30:35 – Deepak's pricing advice. 33:18 – Connect with Deepak.   Key Takeaways: “Salespeople need to understand the value of pricing and how it relates to customer perception.” – Deepak Bhootra “Value is in the eye of the beholder. Understand what the customer values before discussing pricing.” – Deepak Bhootra “When you ask a budget question right up front, you're actually setting yourself up for a pricing discussion.” – Deepak Bhootra “Pricing is one of those conversations where you have complete control of your CRM updates, you have complete control over your forecast, your relationship, but you do not have control over the price because someone else dictates the price.” – Deepak Bhootra “When you are looking at price, giving a discount is the easiest lever to pull right up front. And typically (salespeople) they do it because they can also bamboozle you with a lot of stuff.” – Deepak Bhootra   People/Resources Mentioned: Jabulani Consulting: https://jabulaniconsulting.com Amartya Sen: https://en.wikipedia.org/wiki/Amartya_Sen   Connect with Deepak Bhootra: LinkedIn: https://www.linkedin.com/in/deepakbhootra/ Email: deepak@jabulaniconsulting.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on February 24, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-single-perfect-price/ 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/  

Vladyslav Podoliako is the founder and CEO of Belkins.io, a leading B2B appointment setting agency, and Folderly, an email deliverability system. With a strong entrepreneurial spirit and a focus on performance-based results, Vlad has successfully navigated the complexities of pricing in the B2B space. He is passionate about helping companies scale their businesses through effective client acquisition strategies. In this episode, Vlad shares his journey from launching Belkins to evolving his pricing strategies as the company grew. Together, they explore the critical role of pricing in business growth, the importance of aligning pricing with customer value, and the unique challenges of pricing in the B2B landscape.   Why you have to check out today's podcast: Understand the significance of aligning pricing with customer value and performance. Discover the importance of testing pricing strategies and gathering client feedback. Explore the psychological aspects of pricing and how they influence customer decisions.   “Pricing is like blood in the veins for a growing company. You should have a great pricing model that is scalable and profitable.” – Vlad Podoliako   Topics Covered: 01:10 – Vlad introduces himself and discusses the common misinterpretation of his company names. 02:15 – The importance of pricing in Vlad's entrepreneurial journey and how it evolved over time. 04:36 – Overview of Belkins and its approach to client acquisition. 06:51 – Discussion on the pricing model based on sales qualified leads (SQLs) and its correlation with client ROI. 09:32 – Insights into product packaging and the pricing strategy for Folderly. 13:15 – The impact of high pricing on customer expectations and delivery pressure. 15:42 – The psychological aspects of pricing and how they relate to perceived value. 19:41 – Discussion on the entrepreneurial spirit in Ukraine and its impact on business success. 24:21 – In scaling your company, how often should you revisit your pricing? 26:50 – Vlad's advice on being courageous with pricing and testing strategies. 28:01 – Thoughts on ChatGPT pricing for pro. 30:01 – Connect with Vlad.   Key Takeaways: “Be courageous about your pricing. Test it out more than you strategize theoretically.” – Vlad Podoliako “(on pricing) It's about how much tries you do before you succeed and how resilient you do that. All of these events, historically, we kind of have this in our blood, adaptability, resilience, and hard work.” – Vlad Podoliako   People/Resources Mentioned: Belkins: https://belkins.io/ Folderly: https://folderly.com/ OpenAI: https://openai.com/ Sam Altman: https://en.wikipedia.org/wiki/Sam_Altman NVIDIA: https://www.nvidia.com/en-us/ Google: https://www.google.com/ LinkedIn: https://www.linkedin.com/   Connect with Vlad Podoliako: LinkedIn: https://www.linkedin.com/in/vladPodoliako/  Email: vlad@belkins.io   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/  Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on March 10, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/creating-pricing-power-that-lasts-a-guide-for-long-term-holdings/ 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/

Jared Smith is the CEO of PriceSmith, a consulting firm specializing in pricing strategies for distributors and light manufacturers. With a background in pricing systems from Vendavo and experience as an adjunct professor at Oklahoma State, Jared brings a wealth of knowledge to the table. He is passionate about helping companies optimize their pricing strategies to capture more value. In this episode, Jared shares his journey from Frito-Lay to leading pricing innovation in the B2B distribution space. Together, they explore the key distinctions between B2B and B2C pricing models, especially the negotiation-heavy and data-rich nature of distribution.   Why you have to check out today's podcast: Learn about the differences between B2B and B2C pricing strategies. Understand the role of pricing systems in managing large SKU portfolios in distributorship. Discover how to effectively segment customers for better pricing strategies.   “Invest in your master data and keep chipping away at it. Start with 80/20 of your products and get that right.”  – Jared Smith   Topics Covered: 01:42 - Jared shares how he got into pricing after his MBA and experiences at Frito-Lay and in B2B distribution. 02:57 - Discussion on the differences between B2C and B2B pricing, including transparency and data access. 06:06 - Challenges in understanding why customers buy and the limitations of data analytics. 12:55 - Jared explains his focus on distribution and the unique challenges it presents. 14:40 - Discussion on the relevance and limitations of cost-plus pricing in distribution. 19:17 - Exploration of how to implement good, better, best pricing in distribution. 25:28 - Discussion on whether distributors publish prices or rely on quotes for transactions. 26:33 - Jared shares insights from Uber experiences and how they relate to distribution pricing. 31:27 - The impact of customer loyalty on pricing strategies and potential risks. 32:55 - Jared's key piece of advice on investing in master data for better pricing strategies. 33:58 - Connect with Jared.   Key Takeaways: “Distribution is an amazing thing. Obviously, it's worldwide. And the simple fact of it, it has two very unique aspects. The first one, a lot of SKUs. And then, the second one is that you have a lot of customers.” – Jared Smith   People/Resources Mentioned: PriceSmith: https://www.pricesmith.com/ Vendavo: https://www.vendavo.com/ Oklahoma State University: https://www.okstate.edu/ Pepsi: https://www.pepsi.com/ Frito-Lay: https://www.fritolay.com/ Coca-Cola: https://www.coca-cola.com/ Apple: https://www.apple.com/ LG: https://www.lg.com/ Uber: https://www.uber.com/ Lyft: https://www.lyft.com/   Connect with Jared Smith: LinkedIn: https://www.linkedin.com/in/jaredpaulsmith/ Email: jared@pricesmith.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on February 17, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-secret-to-using-ai-in-pricing-ask-expert-questions/ 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/

James Wilton is the founder and managing partner of Monevate, a consulting firm focused on pricing strategies. With a background in consulting from McKinsey and A.T. Kearney, James has a wealth of experience in helping companies capture value through effective pricing. He recently published a book titled "Capturing Value," which delves into the strategic importance of pricing in business. In this episode, James discusses the nuances of pricing and its critical role in understanding value within a company. He shares insights on how businesses can develop pricing strategies that align with their value propositions and enhance their overall success. James emphasizes the importance of aligning pricing strategies with corporate goals and understanding customer needs, particularly in the SaaS and B2B sectors.   Why you have to check out today's podcast: Learn about the relationship between pricing, value, and corporate strategy. Gain insights on the differences between B2B and B2C pricing strategies. Understand the evolving landscape of usage-based pricing and its implications.   “Being a little bit more thoughtful of thinking about, what are those different levels of offering that I can give? What is the right price metric that really does help me scale across a few different segments? That can make a massive difference to how much value you're able to extract from your market.”  – James Wilton   Topics Covered: 01:22 – James' journey into pricing and consulting. 03:35 – The strategic importance of pricing in business. 04:47 – Understanding value and its impact on pricing decisions. 06:24 – The role of pricing in SaaS and B2B companies. 08:12 – Pricing strategy and corporate valuation. 15:05 – James shares insights on pricing AI, arguing that the fundamental principles of pricing remain the same, despite the unique challenges AI presents. 17:08 – James discusses how Monevate is using AI to analyze qualitative research, improving efficiency in summarizing interview results. 20:36 – Exploration of usage-based pricing, with James explaining its advantages and the importance of aligning pricing metrics with the value delivered to customers. 27:32 – James offers key pricing advice for companies, stressing the importance of creating a differentiated pricing structure to maximize value extraction from the market. 28:45 – Connect with James   Key Takeaways: "Capturing value is about understanding what pricing should do for your company, to capture a fair portion of the value that you create for your customers." - James Wilton "With AI models these days, you're seeing token-type models that fundamentally focus on the amount of work the system is doing. This results in a cost-based metric rather than a value-based metric." - James Wilton "Value really is getting some kind of utility from something in its basic way." - James Wilton   People/Resources Mentioned: Monevate: https://www.monevate.com/ McKinsey: https://www.mckinsey.com/ Capturing Value: https://www.amazon.com/dp/B0DRDVPQJ9 A.T. Kearney: https://www.kearney.com/ RELX: https://www.relx.com/ Steven Forth: https://impactpricing.com/podcast/665-the-future-of-ai-monetization-trends-and-challenges-with-steven-forth/ PayPal: https://www.paypal.com/   Connect with James Wilton: LinkedIn: https://www.linkedin.com/in/jamesdwilton    Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on February 10, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-psychology-of-price-increases-why-a-two-stage-approach-might-work/ 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/

Amit Godbole is the founder of ProdSquad, dedicated to simplifying e-commerce technology through improved product management practices. He serves as a fractional chief product officer at FCI CCM and coordinates regional product tank events with Mind the Product, a leading networking organization for product managers. In this episode, Amit discusses the importance of pricing in product management and how it can significantly impact a company's success. He shares insights on how product managers can leverage pricing strategies to enhance value for customers and drive revenue. Amit emphasizes the need for product managers to take ownership of pricing decisions, especially in the SaaS industry, and highlights the value of understanding customer needs and market dynamics.   Why you have to check out today's podcast: Discover how product managers can influence pricing strategies to drive business success.  Learn about the evolving role of pricing in product management and why it should be a core focus.  Gain insights on how to articulate value in terms of revenue, cost reduction, and risk mitigation.    “Discounting typically means you do not value your product, your services, as much as your client does. So, discount should not be part of the strategy.” – Amit Godbole   Topics Covered: 01:55 – Amit's unexpected journey into pricing  03:37 – The traditional view of product management and its evolution  04:55 – The importance of pricing in SaaS and B2B companies  05:54 – How product managers can experiment with pricing strategies  07:33 – The significance of understanding customer value and willingness to pay  09:30 – The role of pricing pages in B2B and B2C contexts  11:23 – Strategies for creating effective pricing pages that communicate value  12:34 – The impact of subscription models on pricing strategies  14:50 – The importance of honesty in pricing and customer communication 19:12 – Value-based to context driven pricing 24:19 – Amit's best pricing advice for product managers 25:10 – Mark's advice to new pricing analyst   Key Takeaways: “Pricing, revenue, and commercial aspects were the biggest levers somebody could pull in to get a product to the success they want.” – Amit Godbole “Product management professionals must understand that value has to be tied to revenue, or a dollar value, because that's the real value you can create.” – Amit Godbole “More companies need to be honest or need to help customers choose the right solution. If that's not right for them, don't upsell that.” – Amit Godbole   People/Resources Mentioned: Mind The Product: https://www.mindtheproduct.com/ Figma: https://www.figma.com/ Zoom: https://zoom.us/   Connect with Amit Godbole: LinkedIn: https://www.linkedin.com/in/amitgodbole   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on February 4, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/stop-thinking-of-rebates-as-discounts-heres-what-they-really-do/ 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/  

Mathew Kerbis is The Subscription Attorney who is on a mission to affordably serve latent legal market clients at scale via the subscription model and inspire attorneys to abandon the billable hour. He founded the law firm Subscription Attorney LLC. In this episode, Mathew shares how he's leveraging subscription pricing to disrupt the traditional billable hour model in the legal industry, making legal services more accessible. He highlights his strategy of targeting an underserved market while offering premium pricing options for higher-value clients. Mathew emphasizes his business's profitability, operating with minimal expenses while maintaining a large margin and serving both small and large-scale clients.   Why you have to check out today's podcast: Discover how subscription-based pricing is disrupting traditional legal service models, making legal help more accessible and predictable. Learn how addressing the vast underserved legal market can create new opportunities for both clients and lawyers. Gain insights on how offering premium pricing options alongside accessible subscription plans can balance profitability with customer satisfaction.   “Don't be afraid to experiment and to try something new. I experiment with my pricing to find what works. And so, you should experiment, too, and listen to Mark.” - Mathew Kerbis   Topics Covered: 01:37 - How he was led into pricing 03:24 - Discussing the similarities between doctors transitioning to direct primary care (DPC) and lawyers adopting subscription-based pricing 05:05 - Explaining his flexible subscription model 08:48 - Sharing how instead of tracking time or focusing on cost accounting, he views his business costs as fixed expenses 11:03 - Optimizing efficiency and delivering value through his subscription model 14:04 - Arguing that while clients can access AI tools themselves, they can't match the expertise of a lawyer using them effectively 16:04 - Emphasizing that while AI can generate rapid insights, it requires human judgment to interpret results accurately 18:52 - What he meant when he said he drives prices down and discussing the unmet demand creating a significant opportunity despite price competition in the legal industry 21:53 - Targeting underserved clients while maintaining flexibility to serve both small businesses and larger clients 24:26 - Maintaining accessible pricing while using tiered subscription pricing to price higher 26:30 - Highlighting the importance of strategic pricing to remain competitive without risking client loss or revenue instability 27:30 - Mathew's best pricing advice   Key Takeaways: "Ron Baker has educated me on how cost accounting isn't the way to think about what your actual costs are as a business owner." - Mathew Kerbis "What's great about a month-to-month subscription is, I could drop the client just like they could drop me. And the fact that they have the flexibility to leave at any time actually makes them not leave." - Mathew Kerbis “I still want to offer the accessible pricing, but I will have super premium pricing for the best customers that need it.” - Mathew Kerbis "I don't assign any dollar number to my time or the hours that I spend because things don't take as long as they used to. I was using AI when I launched my firm because I knew less time equals more money doing what I do when you're not billing by the hour." - Mathew Kerbis "Sure, you could use the legal AI tools that I'm using, but are you able to get the same output that a lawyer who is actually using the tool in the way in which it was designed can get better output?" - Mathew Kerbis "Judgment is really important. I don't think AI replaces subject matter experts, frankly ever." - Mathew Kerbis   People/Resources Mentioned: Ron Baker: https://impactpricing.com/podcast/497-classic-trash-the-timesheet-exploring-opportunities-in-subscription-businesses-with-ronald-j-baker/ Calendly: https://calendly.com Adobe Photoshop: https://www.adobe.com/ ChatGPT: https://chatgpt.com ClaudeAI: https://claude.ai Perplexity Pro: https://www.perplexity.ai/hub/faq/what-is-perplexity-proUber:https://www.uber.com Grandview Research: https://www.grandviewresearch.com Walmart: https://www.walmart.com Target: https://www.target.com Sam Walton: https://en.wikipedia.org/wiki/Sam_Walton Jeff Bezos: https://en.wikipedia.org/wiki/Jeff_Bezos   Connect with Mathew Kerbis: Website: https://mathewkerbis.com/ LinkedIn: https://www.linkedin.com/in/kerbisverse/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on January 27, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/overcoming-fud-how-to-reduce-fear-uncertainty-and-doubt-in-pricing/ 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/

Paolo De Angeli is currently leading the Customer Experience and Customer Value Management teams at Borealis AG. He has a strong background and passion for Customer Value, from Value Creation to Value Based Pricing. In this episode, Paolo shares the importance of persistence for pricing practitioners, encouraging them to confidently share their insights even when facing resistance. He highlights that pricing is not just about numbers but also about effective change management and influencing senior leaders. By staying committed and focusing on both soft skills and strategy, pricing professionals can drive impactful results.   Why you have to check out today's podcast: Gain actionable strategies for understanding customer needs, framing value propositions, and making data-driven pricing decisions. Dive into valuable lessons on building strong supplier-customer relationships. Learn how pricing is as much about effective communication and influencing as it is about numbers, with tips on navigating resistance.   “If you are a pricing practitioner, you spend time learning, investing. Maybe like I did, taking some certification like the Professional Pricing Society, or you've been involved in the network. You are entitled to share your opinions.” - Paolo De Angeli   Topics Covered: 01:47 - How he found himself in pricing and what made him embrace it 03:45 - Reflecting on the evolution of the pricing profession 05:32 - Articulating the strategic reasoning behind his role as Head of Customer Experience and Customer Value Management 09:09 - Explaining how customer experience and customer value management are interconnected within a continuous commercial operations cycle 14:28 - Emphasizing the importance of having more customer value conversations, highlighting that customers are generally receptive to it 15:33 - Explaining how companies often fear customer value conversations due to the risk of their assumptions being challenged 20:08 - What process he employs when customers suggest improvements 22:05 - The importance of leading value discussions and identifying and addressing specific KPIs that matter to the customer to demonstrate value 25:20 - Highlighting the need to understand the customer's needs before discussing KPIs 27:11 - Why you need to look beyond customer feature requests to uncover the underlying problems 28:56 - How effective value management benefits both the supplier and the customer, creating a win-win scenario 30:13 - Paolo's best pricing advice   Key Takeaways: “Everything that we do internally, when we challenge our value proposition, and we try to understand where our differential value is, comes not only from our internal perception but also and above all from what our customers are telling us.” - Paolo De Angeli “Companies are afraid that customers will not talk, will not share, and will destroy these hypotheses and negotiate on price. And the solution for this is to build a relationship that is more going in the direction of partnership than a transaction with your customers.” - Paolo De Angeli “If we want to simplify two main applications for customer value management, one is when you launch a new solution in the market, you need to have a differential value, a compelling value proposition, so that you need to be convincing both internally and externally and explain why anyone in the world should be interested in buying from you this new solution and not an existing one.” - Paolo De Angeli “Managing expectations is the most important thing, it's not because they ask for something that they will get it, but it's, I think that what we owe our customers is to listen to them. Have a conversation on why certain things are possible and others are not, and then have a joint collaboration on what's possible.” - Paolo De Angeli “Before understanding the KPIs, we need to understand their [customers] needs. We need to understand what their problems are.” - Paolo De Angeli “It's important to agree on the KPIs, but what matters is, to understand what their[customers] problems are and help them understand the profit equation.” - Paolo De Angeli   People/Resources Mentioned: Professional Pricing Society: https://www.pricingsociety.com/ European Pricing Platform: https://www.pricingplatform.com/about-epp Syngenta: https://www.syngenta.com/   Connect with Paolo De Angeli: LinkedIn: https://www.linkedin.com/in/paolo-de-angeli-cpp-b232b85/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on January 20, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/sam-altman-was-right/ 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/

Mark Herring is a passionate marketing leader with strong technical roots and deep knowledge of how to market cloud and enterprise software to open-source developers and DevOps audiences. He is the Chief Marketing Officer at HiveMQ. In this episode, Mark shares his approach to cold outreach, explaining why leading with recognizable brands before introducing value creates engagement. He explores effective email strategies, emphasizing the power of short, curiosity-driven messages over long, detailed pitches. He also discusses pricing from the buyer's perspective, highlighting how perceived value—rather than just function—drives purchasing decisions.   Why you have to check out today's podcast: Learn proven strategies for grabbing attention in cold calls and emails, using brand credibility and psychological triggers like FOMO. Discover how to price based on what buyers truly value, rather than just cost or features, using real-life analogies. Get practical tips on structuring sales conversations to keep prospects engaged without sounding like a typical salesperson.   “Try and understand the value in the eyes of your buyer. I think far too many times as vendors, we think there's intrinsic value because it costs us much to produce or we think it looks like that. It's trying to understand from a buying perspective, what is the value you're providing.” - Mark Herring   Topics Covered: 01:29 - How his journey from development to product marketing led him to pricing 03:41 - How his early pricing research focused on how customers would use a product rather than explicitly asking about the problem it solved 04:59 -  To what is the short tenure of CMOs in B2B and consumer goods attributed to 06:25 - Explaining what a pipeline is and how pipeline generation involves value demonstration 10:38 - Comparing pipeline to running a marathon, emphasizing that while MQLs and SQLs are useful stepping stones, the ultimate goal is generating real sales opportunities 12:02 - Differentiating a pipeline from a SQL 14:18 - Demonstrating how a successful cold outreach combines multiple touchpoints 18:57 - How to make prospects more receptive in a cold call  21:13 - Why he uses big brand names as conversation openers in cold calls rather than starting with a value statement 22:27 - What an effective cold email should be 24:42 - Highlighting  the importance of A/B testing cold emails and continuously refining outreach strategies to improve open rates 25:55 - Mark's best pricing advice   Key Takeaways: “It's cold because you've never had the interaction, but usually they've interacted somewhere with you. It's like they might have seen you at an event, or they might have seen some of your outreach to you already and going, ‘Okay, I'll give this guy a bone.'” - Mark Herring “One of the sales guys was talking about this [cold calls] at the conference we were at together, and I just loved it. And he is like, ‘Don't over research, because there's never a good time to know everything.' Because you got to keep on dialing.” - Mark Herring “You can't stop doing it [cold outreach] because it's like getting dice and trying to get the six, the more you throw it, the better chance you're going to get to the six.” - Mark Herring “I lead [cold call] with brands, not with value. And when you do that type of thing, they're then shocked going, ‘Oh, he didn't do a sales pitch on me. He's asking me about these companies. Well, maybe it is something interesting.'” - Mark Herring   People/Resources Mentioned: FedX: https://www.fedex.com/en-us/home.html UPS: https://www.ups.com/us/en/home   Connect with Mark Herring: LinkedIn: https://www.linkedin.com/in/herringmark/ Email: mark.herring@hivemq.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on January 13, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-last-mile-of-pricing/ 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/

Dan Foster is a Chief Operating/Revenue Officer, who built and transformed profitable businesses across technology and telecom start-ups as well as industry powerhouses. Companies turn to him to revive struggling businesses by redefining sales, marketing and customer service strategy, scaling infrastructure, and promoting product innovation. In this episode, Dan shares how bundled solutions increase value and close rates. He discusses AI's growing role in B2B sales and procurement. And stresses using data to understand customer needs and justify pricing.   Why you have to check out today's podcast: Learn how bundling products and services can enhance perceived value, increase close rates, and prevent price-sensitive buyers from deconstructing your offerings. Gain insights into how AI is transforming the sales landscape, from optimizing product recommendations to procurement teams using AI to negotiate better prices. Understand why pricing should be tied to the customer's business outcomes and how to communicate the true value of your solutions effectively.   "You take the data around a pricing example and you really understand the value from the end user's perspective, so you got to have that empathy back in to say what moves their business. And when we understand what moves their business with a few numbers, then you start to give the underpinning for why value pricing matters." - Dan Foster    Topics Covered: 02:01 - How his early consulting work made him think about value and led him to pricing 03:23 - Asking about typical reactions to pricing presentations 04:24 - Explaining that selling value starts with understanding product-market fit  07:03 - Highlighting the importance of teaching distribution partners how to sell value, using the Home Depot-SolarCity partnership as an example 10:43 - How can ROI calculators be convincing 14:07 - Explaining that while they don't track proven value directly due to lack of data, anecdotal feedback and supplier insights indicate improved close rates for partners 15:09 - How AI is reshaping product offerings, expanding technology advisors' roles, and influencing cost-cutting for innovation 19:10 - Highlighting that while AI may drive procurement efficiencies complex digital transformation solutions still rely on expertise 20:27 - How bundling simplifies purchasing and reinforce the value of an all-in-one solution 24:27 - Dan's best pricing advice   Key Takeaways: "If you want to buy a ton of storage and it's a commodity, we get that. That could go through the marketplace earlier than not. If you want a digital transformation, if you want to change your customer experience, if you want to make your business run faster, if you want business process automation and robotic process automation, that's not going through a dynamic pricing model on a marketplace near-term. Now, can I go out and look at, like, UiPath Licensing versus Automation Anywhere versus whoever Microsoft scooped up next and look at pricing models? The procurement folks are probably smart to do that." - Dan Foster "But the bundled solution specifically is, I think, fundamental because otherwise, when you offer them the menu-based pricing, oftentimes they don't see the full value." - Dan Foster "It [selling value] starts with that product-market fit. We do a lot of enablement of our partners or downstream almost like a two-tier distributor. And in doing that we provide the ability for them to see a higher close rate when they use tools and resources. It alleviates that conversation and it's inherent that there's value pricing there." - Dan Foster "It's critical to think through in a subscription-based model what that value is, because that customer acquisition cost versus the long-term value of a customer, it's a critical ratio to understand when you're thinking through pricing." - Dan Foster   People/Resources Mentioned: Cummins Engine Company: https://www.cumminsenginepart.com/ Unilever: https://www.unilever.com Alcoa: https://www.alcoa.com/global/en/home/ Amazon: https://www.amazon.com/Selling-Value-Deals-Higher-Prices/product-reviews/1737655217/ref=cm_cr_dp_d_show_all_btm?ie=UTF8&reviewerType=all_reviews& SolarCity: https://en.wikipedia.org/wiki/SolarCity Home Depot: https://www.homedepot.com Azure: https://azure.microsoft.com/ Google: https://www.google.com/?client=safari Lowe's: https://www.lowes.com Sun Power: https://us.sunpower.com Sunrun: https://www.sunrun.com TD Synnex: https://www.tdsynnex.com/na/us/ Ingram Micro: https://www.ingrammicro.com Five9: https://www.five9.com Genesys: https://www.genesys.com/en-sg/ NICE inContact: https://www.nice.com/ Zoom: https://zoom.us Dialpad: incontact.com/content/home.htm ChatGPT: https://chatgpt.com Wall Street Journal: https://www.wsj.com/ Automation Anywhere: https://www.automationanywhere.com Microsoft: https://www.microsoft.com/en-ph/ UiPath Licensing: https://licensing.uipath.com/ Hulu: https://www.hulu.com/welcome?orig_referrer=https%3A%2F%2Fwww.google.com%2F Roku TV: https://www.roku.com/products/roku-tv?srsltid=AfmBOoomwWI9G8ZABYW7gSPFzBHc87xVmartPBXAWzj7GfPfAJQYjTtO Super Bowl: https://en.wikipedia.org/wiki/Super_Bowl Xfinity: https://www.xfinity.com/   Connect with Dan Foster: LinkedIn: https://www.linkedin.com/in/jdanfoster/ Email: dfoster@telarus.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on January 6, 2025, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/understanding-context-4-key-factors-that-influence-customer-willingness-to-pay/ 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/

Rich Mironov provides product management leadership and coaching to large and small tech companies, with more than 150 clients since 2001. His focus includes: Coaching VPs of Product and CPOs, Organizing the product organization, and Stepping in (occasionally) as a 'smokejumper' VP of Product Management. In this episode, Rich shares that product managers must define economic value before development. He believes sales teams should communicate, not calculate, value using simple tools. And he advises focusing on broad market data instead of over-relying on top accounts.   Why you have to check out today's podcast: Learn how to define and communicate economic value effectively. Understand how sales teams and product managers can align for better pricing decisions. Gain actionable tips on framing value in sales conversations without overwhelming buyers.   “You want to look for an aggregate set of data about what's happening in your marketplace as opposed to attaching a lot of overweight to your two largest accounts.” - Rich Mironov   Topics Covered: 01:22 - Describing his journey into product management and an overview of his role here 03:40 - Differentiating B2C pricing versus B2B pricing as it relates to product management 09:33 - Discussing the balance between standardized pricing for most customers and the reality of frequent one-off deals in B2B 11:28 - How to systematize B2B pricing to reduce one-off deals and encourage standardization 16:59 - Aligning sales compensation with margin to protect long-term profitability 18:39 - Highlighting how enterprise sales teams generalize individual client demands as market-wide needs 20:26 - Why product teams must define economic value before development 25:00 - Agreeing that product teams must define value early but debates how to present it, with Mark favoring customer-driven insights and Rich emphasizing the need for quantifiable justification to close deals 26:25 - Acknowledging that while ROI calculators aren't inherently trusted, they're valuable as a conversational tool 28:37 - Rich's best pricing advice   Key Takeaways: "I believe a fundamental obligation of product management if we're building something that needs this kind of discussion [communicate economic value], is to do the economic math before we start the development. Not after." - Rich Mironov "Expecting my sales team to be economists is unrealistic. And so, on the product side, I feel like I owe my sales team some narrative that they can read off the page, yes, fill in the numbers, fill in the values, or fill in the quantities. But the value story has to be baked into the product." - Rich Mironov "We lead with benefits, we lead with stories, we lead with vignettes, we lead with problems. But the last two paragraphs of that have to justify somebody actually signing a contract." - Rich Mironov   People/Resources Mentioned: JPMorganChase: https://www.jpmorganchase.com New York Stock Exchange: https://www.nyse.com/index   Connect with Rich Mironov: LinkedIn: https://www.linkedin.com/in/richmironov/ Website: mironov.com Email: rich@mironov.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on December 23, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/dynamic-vs-stable-context-a-framework-for-smarter-pricing/ 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/  

Ed Arnold works with B2B companies to develop their value-based pricing strategies. His specialty is translating a company's competitive advantage into a viable customer value pricing strategy, as well as advising on commercial execution. In this episode, Ed shares when value conversations are most effective. He highlights the need to tailor value models to each prospect through open-ended questions that uncover key business drivers. Because when value is clearly demonstrated, price becomes a secondary concern, resulting in smoother sales and fewer pricing objections.   Why you have to check out today's podcast: Learn why guiding customers to do their own value math is more persuasive than presenting a pre-made ROI model. Discover how value conversations shift the focus from cost to impact, making price negotiations smoother. Understand why dumping numbers on customers backfires and how to engage them in a way that builds trust and buy-in.   "As customers, we have a good sense of what a great deal is. But as sellers, we're much less certain about what that value is. You need to have value conversations to get at that." - Ed Arnold   Topics Covered: 00:57 - How he accidentally got into, left, and keeps returning to pricing 03:25 - Explaining how pricing challenges often signal deeper business issues 08:46 - Why customers distrust ROI calculators 11:05 - What value conversation is all about and how to effectively go through it 14:00 - Emphasizing that trust is built through reliability and honest engagement 16:57 - How many good salespeople are there and what make good salespeople 19:17 - The importance of market focus and playbooks in sales 20:49 - Showing the most effective value conversation to have  25:03 - How he trains salespeople on value conversations 29:53 - Noting that while he focuses on larger customers, the same value-based principles apply to marketing lower-ACV products 30:24 - Ed's best pricing advice   Key Takeaways: "You cannot solve any pricing issue without tackling the strategy. And if the strategy is flawed, then the pricing isn't going to help you." - Ed Arnold "...and this is the thing that I think about value stories. It's not about the product. It's about the customer. The customer is the star of the story." - Ed Arnold   People/Resources Mentioned: Steven Forth: https://www.linkedin.com/in/stevenforth/ Forrester: https://www.forrester.com/bold/ Monitor Deloitte: https://www.deloitte.com/global/en/services/consulting/services/monitor-deloitte.html Leverage Point: https://www.leveragepoint.com/   Connect with Ed Arnold: LinkedIn: https://www.linkedin.com/in/edarnold1/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on December 16, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/value-drivers-vs-value-tables-when-to-go-broad-and-when-to-be-specific/ 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/

Steven Forth is Ibbaka's Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. In this episode, Steven shares the potential commoditization of AI pricing agents, explaining how their replication and standardization could drive down differentiation and value. He explores the interplay between AI-driven sales and buying processes, emphasizing that businesses must consider how AI will influence purchasing decisions. He also touches on the potential of AI to simplify legal tasks.   Why you have to check out today's podcast: Learn how AI-powered pricing agents compare to SaaS models and why they might face rapid commoditization in the evolving AI landscape. Discover why AI-driven buying decisions are just as important as AI-powered selling strategies—and what that means for the future of pricing. Find out how DeepSeek's approach to AI training and pricing could shake up the industry, with potential implications for OpenAI and other major players.   "I think that they need to put themselves in the buyer's shoes and ask themselves, how would I be using AI to make a buying decision?" - Steven Forth   Topics Covered: 01:23 - Explaining the four types of AI products and how they impact pricing, automation, and value creation 09:51 - Exploring whether AI agents will become commoditized 12:46 - How complex pricing workflows require multiple AI agents working together as a service, rather than a single standalone pricing agent 14:17 - Explaining that differentiated AI agents with better performance will still command higher prices 19:20 - Highlighting how DeepSeek's advancements in post-training optimization and lower pricing could drive broader AI adoption 21:20 - What makes AI agents more prone to commoditization  23:22 - How SaaS solutions are less prone to commoditization than AI agents  26:32 - Suggesting that tasks like real estate conveyance could be automated by AI agents 29:02 - Steven's best pricing advice   Key Takeaways: "A lot of the use cases for outcome-based pricing or results-based pricing really only become relevant when an action is taken on your behalf. And you can evaluate the value of that action and the success of that action." - Steven Forth "Are all agents by nature more subject to commoditization than other parts of the ecology, like copilots or service as software or generators? My gut feeling is that there are going to be agents that are highly differentiated because they rely on highly customized underlying language models and highly tuned prompt sequences that would not be easy for someone else to recreate. And that they'll be able to make better decisions." - Steven Forth "Apart from very specific and narrow cases, I don't think pricing is going to be done by agents. Pricing will be service as software." - Steven Forth   People/Resources Mentioned: Grammarly: https://www.grammarly.com Copilot: https://copilot.microsoft.com/onboarding ChatGPT: https://chatgpt.com/ Hugging Face: https://huggingface.co Hubspot: https://www.hubspot.com FinnAI: https://www.finnai.io/en LegalZoom: https://www.legalzoom.com Zendesk: https://www.zendesk.com Microsoft: https://www.microsoft.com/ Pros: https://pros.com Vendavo: https://www.vendavo.com Zilliant: https://zilliant.com Pricefx: https://www.pricefx.com Maxio: https://www.maxio.com DeepSeek: https://en.wikipedia.org/wiki/DeepSeek   Connect with Steven Forth: LinkedIn: https://www.linkedin.com/in/stevenforth/ Email: steven@ibbaka.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on December 9, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/unlocking-portfolio-value-through-strategic-price-increases/ 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/

Joshua Lowe is a solution-focused pricing professional with a proven track record in pricing (10 years) and pricing transformation (3+ years). He also has an expertise in implementing and utilizing PriceFX, a cloud-native pricing management software.  In this episode, Joshua discusses the evolution of pricing in the auto parts industry, explaining how his company is transitioning from traditional cost-plus pricing to more market-based and value-driven strategies. He highlights the role of data analytics and predictive modeling in optimizing pricing decisions while maintaining fairness and customer retention.    Why you have to check out today's podcast: Learn how a major industry player is shifting from cost-plus pricing to market-based and value-based approaches. Discover how analytics and data science shape pricing strategies, ensuring competitiveness and profitability. Understand why leaving some value on the table fosters long-term customer relationships and repeat business.   "You've got more pricing power than you might realize." - Joshua Lowe   Topics Covered: 01:31 - Joshua describing his journey into pricing 02:55 - Clarifying that Napa Auto Parts is a wholly owned subsidiary of Genuine Parts Company and sharing why he has stayed with Napa Auto Parts 04:27 - How his pricing strategies not only capture value but also reinvest in growth and detailing his role in setting nationwide retail, wholesale, and resale pricing frameworks  06:37 - The evolution of market segmentation in pricing, highlighting shifts between regional and nationwide pricing models and the factors influencing those changes 08:53 - Explaining customer segmentation in pricing, emphasizing the importance of transaction data, value drivers, and willingness to pay 11:27 - Pricing strategies based on delivery distance, emphasizing relationship-based pricing over cost-to-serve 13:09 - Explaining product segmentation and how Napa Auto parts sources products 15:56 - How cost increases from suppliers generally flow through their own pricing 17:03 - The role of cost-plus pricing in the industry and its gradual shift toward market-based and value-based pricing 21:31 - How Napa Auto Parts structures pricing 24:59 - Joshua's best pricing advice   Key Takeaways: “There's a lot of price moves that you use in pricing to extract value, but a lot of times too, you're trying to figure out ways to reinvest those wins back into sales so that you can grow.” - Joshua Lowe “You never try to extract a hundred percent of the value of any single transaction because you might actually start losing customer retention over time. You want to leave 10, 20% on the table. I've always kind of kept that in the back of my mind as we do certain activities of how we keep the fairness in play as we make pricing actions.” - Joshua Lowe   People/Resources Mentioned: Gates Corporation: https://www.gates.com/us/en.html Genuine Parts Company: https://www.genpt.com/ Napa Auto Parts: https://www.napaonline.com/   Connect with Joshua Lowe: LinkedIn: https://www.linkedin.com/in/joshua-lowe-42034746/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on December 2, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/what-is-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: https://www.linkedin.com/in/stiving/  

Dave Brown is a CEO / Founder of QiiQ Healthcare which is developing an AI assistant for healthcare workers, to invigorate the deep sense of fulfillment in delivering high quality care - frictionlessly. In this episode, Dave shares how AI can improve healthcare by providing clinicians with actionable insights from patient data, making consultations more efficient. He highlights the challenge of adopting new technologies in healthcare due to risks and the complexity of changing established systems. Brown also shares insights on the economic impact of healthcare innovations and stresses the importance of doing thorough homework when entering the healthcare market.   Why you have to check out today's podcast: Explore the impact of AI in healthcare and how it can improve healthcare outcomes and reduce doctor-patient interaction. Gain insights on healthcare pricing challenges and how understanding stakeholder decisions can lead to more effective solutions. Learn to navigate the massive, evolving healthcare industry and the challenges of making a meaningful impact through technology and pricing strategies.   "Do your homework. You cannot wander into this [healthcare] with youthful vigor and expect to change the world easily. And it's certainly not easy to come up with a pricing model that everybody understands and likes." - Dave Brown   Topics Covered: 01:46 - How he got interested in pricing and why it mattered to him 03:13 - Detailing how QiiQ Healthcare technology works and what makes pricing for it complicated 10:58 - Sharing how QiiQ is driven by a social mission, as well as mentioning the real challenge in healthcare technology 13:49 - How QiiQ Healthcare technology is demonstrating its value in a leading Parkinson's clinic 15:29 - Addressing patient willingness to pay and the impact of chronic diseases on society 18:34 - How QiiQ technology streamline doctor-patient interactions and save time 21:06 - Using the trolley problem to illustrate the complexity of decision-making in change management 23:31 - Highlighting the challenge of adopting new technology despite its potential, due to uncertainty and mental workload 25:34 - Discussing the challenges of accepting AI in healthcare, drawing analogies to self-driving cars and the risks involved 28:40 - Explaining how the relationship between cost reduction and profits in healthcare is complex and not solely driven by cynicism 29:45 - Dave's best pricing advice   Key Takeaways: “Everybody that's working with me is driven by a social need or a social urge. It's extremely common in the healthcare industry. But part of what you're hearing [challenges] is motivated by a deeper grasp of the challenge in adoption. Without adoption, you generate no value.” - Dave Brown   Connect with Dave Brown: Website: https://www.qiiq.health/ LinkedIn: https://www.linkedin.com/in/davecbrown/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on November 24, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/confused-buyers-dont-buy-a-case-study-in-how-to-align-saas-pricing-with-customer-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: https://www.linkedin.com/in/stiving/

Mark Peacock helps B2B Tech & Consulting firms expand margin & revenue growth with tailored pricing solutions & sales enablement. In this episode, Mark shares practical strategies for implementing price increases effectively, including a two-stage communication process to manage customer expectations and reduce resistance. He emphasizes the importance of segmenting clients by price sensitivity and value to tailor pricing strategies and build confidence. Mark also highlighted the need to treat price increases for existing customers with the same care as new business pricing to maximize business impact.   Why you have to check out today's podcast: Learn proven strategies to implement price changes confidently without losing customer trust or loyalty. Discover an innovative approach to preparing customers for price increases minimizing resistance, and maximizing acceptance. Explore techniques for segmenting clients, leveraging value-based pricing, and fostering long-term relationships.   “Treat price increases for existing customers with the same importance that you do pricing for new business, because it can have such a profound impact on your business and it's nothing to be scared of.” - Mark Peacock    Topics Covered: 01:48 - Describing his pricing journey 02:58 - The transformative power of smart pricing strategies 06:13 - Check out Mark's article in LinkedIn, ‘Raise Prices Without Raising Eyebrows' 06:52 - The importance of putting as much effort into planning and communicating price increases with existing customers as devoting to winning new business 09:21 - The two-stage process to make price increase more acceptable to your customers   12:34 - The third step to communicating your price increase 14:49 - Explaining the value reasons why customers should stick with you [the fourth step] 16:55 - Communicate your 'investment story' [fifth step] 18:44 - Give your customers the options and do away with hard sell [sixth step] 21:53 - Talking about frictionless approach to price increase [seventh step] 23:22 - Important thoughts on the 'do something nice' strategy 26:45 - One top tip to help you segment customers based on price sensitivity and stop churn 27:59 - More techniques for customer segmentation 28:59 - Mark's best pricing advice   Key Takeaways: “Communicating a price increase is a sales task, and you would never use negative language in a sales activity.” - Mark Peacock “The most important thing about a price increase communication is that there is no hard sell.” - Mark Peacock “You need to provide them with some ways to come back to you however they want, either to approve it, to reject it, to discuss it, or if you've got upgrade or downgrade paths as well.“ - Mark Peacock “Be as open and transparent as possible so that the buyer has total agency and control over that decision, and you are making it entirely their decision because that's how you build trust.” - Mark Peacock   Connect with Mark Peacock: LinkedIn: https://www.linkedin.com/in/mark-peacock-pricemaker/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on November 18, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/perfect-pricing-is-impossible-and-thats-ok/ 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/

Mark Gilham is an experienced senior executive with a proven track record in finance, strategy, and consulting. He brings deep expertise in driving commercial success, improving operational efficiencies, and influencing industry best practices.  In this episode, Mark shares the transformative power of rebates as tools for driving both customer behavior and operational efficiency, rather than just cost-cutting mechanisms. He highlights the importance of designing rebates that align with business goals, such as incentivizing desirable customer actions, improving operational processes, and fostering long-term loyalty.    Why you have to check out today's podcast: Learn how rebates can go beyond simple cost-cutting to solve operational challenges, enhance customer loyalty, and drive profitability for your business. Gain insights into how rebates can incentivize customer behaviors that benefit both parties, creating a more collaborative and sustainable business relationship. Discover innovative ways to use rebates to optimize your operations, create efficiencies, and stronger partnerships with customers.   "Get out from behind your desk; get away from the spreadsheet and understand your business. Understand what makes your business tick." - Mark Gilham   Topics Covered: 01:11 - How he transitioned from accountancy to pricing 02:24 - Explaining why accountants' focus on cost-plus pricing 03:52 - Highlighting how understanding pricing enables finance professionals to interpret data more effectively and influence business outcomes 05:35 - Strategic role of rebates in B2B, their challenges, and how they differ from traditional incentives and discounts 08:18 - Importance of structuring rebates and balancing discounts and rebates in B2B to maintain margins 11:11 - Dynamics of incentivizing end consumers versus channel partners 14:59 - Optimizing rebate structures 20:40 - Sharing how rebates can incentivize operational efficiency 25:55 - Advocating for pricing teams to lead rebate strategies to create lasting customer relationships and reduce reliance on discounting 28:11 - Highlighting the potential of rebates to address operational inefficiencies   Key Takeaways: "Immature pricing practices tend to be that cost-plus. And when I say immature, it's not that it's bad, it's just they don't know what good looks like or what's better." - Mark Gilham "A good rebate is a rebate that a manufacturer or supplier wants to pay out." - Mark Gilham "I believe pricing have the tools and the skillset to, and it should be on the sell side, to equip salespeople to go out, not to win an order, but to kind of win a relationship. And make that relationship sticky so that discounting actually is not, it's always going to be important, but hopefully you can take a little bit of that pressure off the table." - Mark Gilham "If you want a better deal from your supplier, think about all the things you could do to make their life easier and ask them, ‘What's that worth to you?' And that's a far better way of getting a bit of extra money out of the contract than just saying, ‘I want my product for less.'" - Mark Gilham   People/Resources Mentioned: Enable: https://www.enable.com   Connect with Mark Gilham: LinkedIn: https://www.linkedin.com/in/markgilham/ Email: mark.gilham@enable.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on November 11, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/you-influence-your-customers-willingness-to-pay/ 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/

Vance Morris is a former Disney Leader turned entrepreneur, coach, speaker and author. He helps businesses deliver extraordinary customer experiences through workshops, boot camps, and training at Disney. In this episode, Vance shares practical strategies for implementing premium pricing by presenting options and building value through transparency and trust. He emphasizes the importance of creating emotional connections with customers to enhance loyalty and retention, even in B2B environments. Additionally, he advocates for confident implementation of price increases, highlighting that many pricing challenges stem from business owners' mindset rather than market resistance.   Why you have to check out today's podcast: Learn how to confidently set premium prices and create packages that differentiate your business from competitors. Discover how emotional connections, rather than just logic, can drive customer loyalty and enhance sales, even in B2B settings. Get tips on overcoming common pricing hurdles and improving customer retention through simple yet effective strategies.   “People have enough information, they don't have enough implementation; just go do it. You could go out right now, raise your prices 10% and nobody's going to bat an eyelash.” - Vance Morris   Topics Covered: 01:45 - How he found himself in pricing 02:31 - Sustaining a cycle of value and profitability as inspired by Disney's pricing strategies 05:20 - How he justifies premium pricing in his upholstery cleaning business 08:46 - Demonstrating expertise and showcasing value  11:32 - Emphasizing the value of positioning as a premium service rather than competing on being the second cheapest 13:00 - Maintaining pricing integrity 14:21 - Adapting Disney-inspired strategies to differentiate your business making it incomparable to competitors 16:37 - How to differentiate your products or services, even in competitive markets like B2B software 17:57 - How to foster loyalty, enhance customer retention, and make price increases more acceptable 21:09 - Highlighting the value of small, thoughtful gestures to build a positive reputation and stand out in competition 22:42 - Offering premium pricing tiers in clear, non-salesy manner 24:57 - Vance's best pricing advice   Key Takeaways: "Not so much to justify [premium pricing], as it is being able to offer a better experience, which then allows me to charge a higher price, which puts more money in my pocket." - Vance Morris "It's about creating a connection. It's people doing business with people. It's not people doing business with business and creating some kind of emotional connection with the purchasing manager, with whoever's doing the buying. And it just makes selling so much easier." - Vance Morris "When you have that connection, a price increase may not be overlooked, but is a lot more palatable than just hard excel spreadsheets flying around." - Vance Morris "There is no competitive advantage to being second cheapest; if you're not going to be the cheapest, you might as well go the other direction." - Vance Morris   People/Resources Mentioned: Disney: https://www.disney.com/ Ritz-Carlton: https://www.ritzcarlton.com/ Dunkin Donuts: https://www.dunkindonuts.com/en   Connect with Vance Morris: LinkedIn: https://www.linkedin.com/in/vancemorris/ Website: https://deliverservicenow.com/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on November 4, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-fluid-nature-of-willingness-to-pay-how-context-shapes-your-pricing-strategy/ 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/

Stephan Liozu is a business executive with deep knowledge in pricing strategy, value-based pricing, monetization, and transformations. He speaks the language of sales, pricing, finance, and the C-suite.  In this episode, Stephan highlights the need to combine value-based pricing with strong change management for successful transformations. He shares practical segmentation strategies tailored to diverse business needs. Reflecting on his move into pricing software, he explores its potential and the challenges of gaining C-suite support.   Why you have to check out today's podcast: Delve into the nuances of value-based pricing and its implementation and practical advice for businesses aiming to maximize profitability while addressing internal and external challenges. Learn about a methodology for effective customer segmentation, practical steps, and real-world applications for targeted strategies. Discover the critical role of change management in successfully implementing pricing strategies and have a deeper understanding of organizational dynamics and leadership in pricing transformations.   "You cannot do advanced pricing without advanced change management and change leadership." - Stephan Liozu   Topics Covered: 01:10 - Significance of the Chief Value Officer (CVO) title 01:58 - The complexity of defining value within companies 02:52 - Contrasting his roles as a Chief Value Officer at Thales and Zilliant 04:35 - Reflecting on the challenges and uncertain future of the pricing profession with his article on LinkedIn 06:27 - Discussing the challenges of B2B pricing which hinders value-based pricing and the scalability of pricing strategies 12:11 - Advocating for internal pricing centers of excellence as cost-effective 14:01 - Explaining his approach to segmentation 17:26 - Stephan expressing excitement about his Zilliant role, exploring pricing software's potential and questioning its limited market growth 19:07 - The challenges of convincing the C-suite to invest in pricing solutions, suggesting on reframing pricing discussions under a new term  22:31 - Stephan's best pricing advice   Key Takeaways: “If you want to industrialize your processes in pricing and value, you have to use an engine, the heart of this engine is software. And be able to touch all the business if possible, at least a large amount of the business.” - Stephan Liozu “Pricing professionals should become certified change managers, it should not be an option.” - Stephan Liozu   People/Resources Mentioned: Thales: https://cpl.thalesgroup.com/software-monetization/software-packaging-pricing Zilliant: https://zilliant.com McKinsey: https://www.mckinsey.com   Connect with Stephan Liozu: LinkedIn: https://www.linkedin.com/in/stephanliozu/ Website: https://www.stephanliozu.com/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

Steven Forth is Ibbaka's Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. In this episode, Steven discusses how AI, particularly transformer models, is revolutionizing business strategies by automating complex tasks like value modeling and scenario planning, making them more efficient. He emphasizes the importance of leveraging AI to explore frameworks and generate innovative solutions, such as using AI to better understand industry problems. Steven also highlights the ongoing development of prompt orchestration tools, which will soon become essential for managing AI workflows and optimizing the use of multiple models.   Why you have to check out today's podcast: Discover how AI is transforming traditional frameworks like value modeling, scenario planning, and pricing, making complex processes faster and more efficient. Gain insights on how AI can help you better understand problems and create innovative solutions, ultimately improving your decision-making process. Dive into emerging concepts like prompt orchestration and how AI is evolving, giving you the tools to enhance your AI workflows for maximum effectiveness.   “Create a series of prompts, create a series of context documents that you can reuse and explore the framework in ways that you never could before and find ways of applying it.” - Steven Forth   Topics Covered: 02:10 - How no single AI model can meet all needs, thus,  advocating for multiple model for diverse perspectives and specialized capabilities 03:11 - Distinguishing between diffusion models and transformer models 05:46 - How does a transformer model work 07:28 - Understanding the [LQMs] Large Quantitative Models, [RAG] Retrieval Augmented Generation and challenges faced by companies like Pros in leveraging customer-owned data  11:39 - How Wolfram/Alpha uses mathematical reasoning to validate and simplify equations and highlighting the emergence of reasoning models for complex problem-solving 15:34 - Steven reflecting on his increasing reliance on AI tools, how they are transforming his thinking, and the need to embrace these technologies as vital partners in enhancing exploration, communication, and decision-making 17:17 - How generative AI enables more dynamic and efficient approaches to scenario planning 23:29 - Emphasizing how leveraging AI with established frameworks accelerates complex tasks like building value models 25:13 - Learning 'prompt orchestration' to optimize prompt sequences and responses 26:52 - Explaining Perplexity's limitations in generating complete outputs   Key Takeaways: “It used to take Ibbaka between 40 and 60 hours of work by a highly trained person to build a value model. It now takes us less than two hours to build a better value model than we could have done before.” - Steven Forth   People / Resources Mentioned: Geoffrey Hinton: https://en.wikipedia.org/wiki/Geoffrey_Hinton Bloomberg: https://www.bloomberg.com/asia Attention is All You Need paper: https://en.wikipedia.org/wiki/Attention_Is_All_You_Need Sam Altman: https://en.wikipedia.org/wiki/Sam_Altman Karen Chiang: https://impactpricing.com/podcast/467-minimize-churn-and-boost-your-net-dollar-retention-with-karen-chiang/ Porter's 5 Forces: https://en.wikipedia.org/wiki/Porter%27s_five_forces_analysis Clayton Christensen: https://en.wikipedia.org/wiki/Clayton_Christensen William Gibson: https://en.wikipedia.org/wiki/William_Gibson Perplexity AI: https://www.perplexity.ai ChatGPT: https://chatgpt.com You.com: https://you.com Hugging Face: https://huggingface.co   Connect with Steven Forth: LinkedIn: https://www.linkedin.com/in/stevenforth/ Email: steven@ibbaka.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on October 24, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/context-driven-pricing-the-ultimate-pricing-strategy/ 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/

Russ Winer is a William H. Joyce Professor of Marketing, Stern School of Business, New York University. His specialties include pricing, new technologies, consumer choice models, and advertising. In this podcast, Russ discusses the critical role of understanding consumer behavior in pricing decisions, emphasizing the importance of considering how customers will react to price changes. He explains the difference between academic theories and practical applications in marketing and also highlights the growing shift of research from academia to industry, particularly in data-driven fields like marketing, and stresses the need for businesses to stay competitive while balancing consumer protection and profitability.   Why you have to check out today's podcast: Gain practical advice on how businesses can align their pricing strategies with consumer behavior for maximum impact. Discover the unique perspectives on how academic research shapes real-world marketing practices and why general theories can be a game-changer for business strategies. Learn about the challenges and opportunities in both B2B and B2C markets, including data availability, decision-making processes, and competitive pressures.   "Don't forget the consumer, or customer, if it's B2B, when you're thinking about the price. How is the customer or consumer going to react when you take this particular action?" - Russ Winer   Topics Covered: 01:48 - One accomplishment that brings Russ great pride 02:13 - Describing his entry into pricing 03:56 - Clarifying that he did not introduce the concept of reference price, though he was the first to incorporate it into empirical models 04:45 - Distinguishing reference pricing from behavioral economics 06:40 - How context influences reference prices, highlighting the relevance of acquisition and transaction utility in pricing 08:08 - Explaining the psychology behind 99-cent pricing 09:50 - Discussing deceptive pricing, highlighting practices like false markdowns in both brick-and-mortar stores and online retail 11:59 - Comparing deceptive pricing to deceptive advertising 14:33 - Differentiating between academics and practice in marketing 17:23 - The data availability challenges between B2C and B2B research 20:20 - Reflecting on the shift of research dominance from academia to industry 25:44 -  How marketers' strategies to influence reference prices are not inherently harmful to consumers  28:14 - Russ's one best pricing advice   Key Takeaways: “It's not just the firm side that's important when we think about pricing, it's also the consumer side, how they react to the prices that we're putting in the marketplace.” - Russ Winer   People/Resources Mentioned: Bob Lucas: https://en.wikipedia.org/wiki/Robert_Lucas_Jr. Richard Thaler: https://en.wikipedia.org/wiki/Richard_Thaler Dan Kahneman: https://en.wikipedia.org/wiki/Daniel_Kahneman Amos Tversky: https://en.wikipedia.org/wiki/Amos_Tversky Facebook: https://www.facebook.com Airbnb: https://www.airbnb.com Google: https://www.google.com/ Campbells: https://www.campbells.com/   Connect with Russ Winer: LinkedIn: https://www.linkedin.com/in/russ-winer-4b69b7/ Email: rwiner@stern.nyu.edu   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on October 17, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/profit-vs-market-share-which-should-your-business-prioritize/ 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/

Mike Wilkinson is referred to as The Value Sales Expert whose focus is on value and value selling.  In this episode, Mike shares what is involved in a successful value-based selling to enable tailored solutions that address specific challenges of your customers. He emphasizes the importance of measuring and reinforcing delivered value while developing ongoing relationships to uncover new opportunities and ensure long-term success.   Why you have to check out today's podcast: Learn about a five-step value-based selling framework to help you master value-based selling and deepen customer relationships. Gain Insights from real-world perspectives, practical advice, and candid reflections on overcoming common sales challenges. Discover how to shift from a product-first to a customer-first mindset and transform your sales approach.   "The most important thing from a seller's point of view is be confident in your price. And the way to be confident in your pricing is to make sure that you know, you're absolutely certain, that the value that you are delivering is more than a match for the price you're going to be charging." - Mike Wilkinson   Topics Covered: 02:21 - Mike describing what he does 02:52 - Elaborating on the concept of value 07:33 - Highlighting the 'Value Triad' as it relates to the value drivers 11:08 - Mike's approach to teaching value-based selling 14:46 - Outdated sales practices that focus on pushing products rather than solving customer problems 16:48 - Thoughts on Zig Ziglar's sales principles and the importance of value discovery in the sales process 21:48 - How to ask impact-driven questions 24:07 - Detailing an effective value discovery and value demonstration to ensure a successful conclusion 26:51 - What value delivery means 28:07 - Value development and what it encompasses and the importance of regular reviews 29:33 - Mike's best pricing advice   Key Takeaways: “Until we understand how our customers are defining value for them, then to all intents and purposes, value is a mystery. And as sellers in particular, our job is to solve that value mystery.” - Mike Wilkinson “It's your customer that defines value, not you.” - Mike Wilkinson “Until you've understood what the issues are from the customer's point of view, you do not have a solution.” - Mike Wilkinson   People/Resources Mentioned: McKinsey: https://www.mckinsey.com Zig Ziglar: https://en.wikipedia.org/wiki/Zig_Ziglar Seth Godin: https://www.sethgodin.com   Connect with Mike Wilkinson: Website: https://axiavalue.com/ LinkedIn: https://www.linkedin.com/in/mikewilkinson-thevalueexpert/ Email: mw@axiavalue.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on October 10, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/what-every-team-should-learn-from-pricing-experts-focus-on-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: https://www.linkedin.com/in/stiving/

Daniel Cho has over 29 years of experience in the healthcare industry, currently serving as the Senior Director of Global Pricing at Philips Healthcare. With a background in sales, product management, and pricing strategy, Daniel has a unique perspective on how to effectively communicate value to customers and drive profitability. In this episode, Daniel shares his journey into pricing and the critical importance of understanding the value your product delivers to customers. He emphasizes that pricing should not just be about features but about the economic, operational, emotional, clinical, and societal value that resonates with different stakeholders. Through real-world examples, Daniel illustrates how a well-structured pricing strategy can lead to stronger, more profitable relationships.   Why you have to check out today's podcast: Discover the five key value drivers that can transform your pricing strategy and enhance customer relationships. Learn how to effectively communicate value to different stakeholders within a healthcare organization, from CFOs to clinical staff. Gain insights into structuring contracts and pricing metrics that align with customer needs and perceptions of value.   “Resist on the discount as much as possible. Look for every other ways to solve it rather than the discount. The discount should always be a last resort and not the first thing you want to deliver or give.” – Daniel Cho   Topics Covered: 02:33 - Daniel's journey into pricing 03:23 - The power of pricing strategy, using segmentation and perceived value to differentiate identical products for distinct markets 06:58 -  How two identical products can be integrated differently with existing pricing ecosystems 07:57 - Leveraging his expertise in data analysis to establish Philips' first pricing department 12:11 - Initiating a value-based approach at Philips to create, price, and articulate value 14:22 - Defining value and discussing the 5 key value drivers in a health organization 18:03 - Tailoring value propositions and demonstrating how those four other value streams ultimately lead to financial and strategic benefits 25:22 - An effective sales training Daniel created that teaches salespeople to tailor value-based pitches to different stakeholders' priorities 31:27 - Daniel's best pricing advice   Key Takeaways: “We cannot continue to sell features and benefits, we have to go and sell value.” - Daniel Cho “If the product is not value-based, you can't ask the salespeople to sell value because you have to start from the product that actually deliver and generate value. So, we started from the product managers.” - Daniel Cho “The first one is economic value. Very simple. Help me to make more revenue or help me to save costs so I have an economic benefit.” - Daniel Cho “The next value is the emotional value. How can we create a better experience for the patients and also their own staff so the staff don't get burnout.” - Daniel Cho “Financial value, although as strong as it is, doesn't resonate with everyone.” - Daniel Cho “Stop giving discounts for free. Always get something back from the customer.” - Daniel Cho   People/Resources Mentioned: Philips Healthcare: https://www.philips.com/ Apple Watch Launch: https://www.apple.com/ Bausch and Lomb Contact Lens Case: https://www.bausch.com/   Connect with Daniel Cho: LinkedIn: https://www.linkedin.com/in/danielkkcho/   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on October 3, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/for-b2b-value-is-incremental-profit/ 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/

Lisa Thompson has corporate experience that spans software/SaaS, industrial manufacturing, life sciences/healthcare, medtech, fintech, and B2B services. Together with clients, she delivers unique, actionable solutions tailored to their organizational needs and realities leading to profitable, sustainable revenue and growth.  In this episode, Lisa shares the importance of deeply understanding the economic value your product delivers to customers and aligning it with their buying processes, highlighting that many companies fall short in these areas. Through real-world examples, Lisa shows how uncovering the true drivers of customer satisfaction can transform pricing strategies and lead to stronger, more profitable relationships.   Why you have to check out today's podcast: Deep dive into the critical importance of understanding and quantifying the economic value your product delivers to customers so you gain actionable insights to refine your approach. Gain valuable guidance on structuring contracts, from incorporating escalators to aligning terms with customer needs, ensuring profitability and flexibility in volatile markets. Learn how to evaluate and select pricing metrics that truly reflect the value customers derive, unlocking hidden revenue opportunities.    "In the metric, understand how you currently charge customers. Not the price level, but the price metric. Double check to see if that aligns with whether they get high value or low value. If it doesn't, we don't necessarily have the right metric. There can be magic and a lot of money in getting the metric right."  - Lisa Thompson   Topics Covered: 01:43 - How she ended up in pricing 03:44 - Why value-based pricing is not simply charging higher prices for more value 05:32 - Highlighting the nuances in pricing strategies, explaining ways to leverage value other than higher prices 11:39 - Sharing a lighthearted story about Tom Nagle's amusing moments 13:37 - Emphasizing what many companies struggle to do with deal structuring 16:50 - Explaining why understanding the economic value of a product must come hand in hand with a deep knowledge of the customer's buying process 23:02 - The need for long-term contracts to include appropriate escalators and de-escalators 26:54 - Why contract structures should align with how customers perceive and experience value 30:59 - Lisa's best pricing advice   Key Takeaways: "Just because value's high, it doesn't mean I can always get a high price for it." - Lisa Thompson "One of the things I want people to understand in our work is that getting a price premium or charging more than you used to charge isn't the only way to get paid for adding more value." - Lisa Thompson "We know the value, but that's not the same thing as knowing the buying process." - Lisa Thompson   People/Resources Mentioned: Tom Nagle: https://impactpricing.com/podcast/604-insights-into-value-based-pricing-strategies-for-b2b-with-tom-nagle/ Reed Holden: https://impactpricing.com/podcast/ep97-pricing-in-the-new-normal-with-reed-holden/ Gilette: https://gillette.com   Connect with Lisa Thompson: LinkedIn: https://www.linkedin.com/in/lisa-spadafora-thompson/ Email: LThompson@sturbridgegrowthpartners.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on September 23, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/pricing-new-products-myth-1/ 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/