POPULARITY
Hosted by mark stiving
71 episodes with mark stiving
7 episodes with mark stiving
5 episodes with mark stiving
5 episodes with mark stiving
6 episodes with mark stiving
2 episodes with mark stiving
2 episodes with mark stiving
2 episodes with mark stiving
Mark Stiving is a pricing expert and the host of the Impact Pricing podcast, where he explores the intricate relationship between pricing, value, and context. With a wealth of experience in pricing strategies, Mark is passionate about helping companies maximize their revenue through effective pricing techniques. Steven Forth is the co-founder and Managing Partner at Ibbaka, a leading pricing strategy consultancy. With deep expertise in B2B SaaS pricing and value-based pricing models, Steven has been at the forefront of pricing innovation for over two decades. He's passionate about the intersection of pricing strategy, customer value, and emerging technologies like AI agents. In this episode, Steven turns the tables on Mark to explore context-driven pricing – Mark's revolutionary framework that's changing how pricing professionals think about willingness to pay. Together, they dive deep into the four contexts that drive every pricing decision, the three-layer business framework that organizes pricing strategy, and why perfection is the enemy of progress in pricing. Why you have to check out today's podcast: Discover the concept of context-driven pricing and its significance in today's market. Learn how different contexts, such as environmental and customer factors, influence pricing decisions. Understand the importance of defining the problem to effectively implement pricing strategies. “Willingness to pay is contextual.” – Mark Stiving Topics Covered: 01:37 – What motivated Mark to think about Context-driven Pricing? 03:15 – The four categories of context: problem, customer, behavioral, and environmental. 04:52 – How environmental factors influence willingness to pay? 06:01 – The role of competitors in shaping pricing strategies. 08:13 – Understanding the foundational problem and its impact on pricing decisions. 14:01 – The intersection of context-driven pricing and AI. 24:58 – Key takeaways on implementing context-driven pricing effectively. Key Takeaways: “Pricing is about understanding the context in which a buyer operates.” – Mark Stiving “Defining the problem is crucial to determining willingness to pay.” – Mark Stiving “Perfection is impossible; focus on being better every day.” – Mark Stiving Resources and People Mentioned: Steven Forth: https://www.linkedin.com/in/stevenforth/ Ibbaka: https://www.ibbaka.com/ Craig Zawada: https://www.linkedin.com/in/craig-zawada-a0a39029/ Pros: https://pros.com/ Stephan Liozu: https://www.linkedin.com/in/stephanliozu/ Zilliant: https://zilliant.com/ Gabe Smith: https://www.linkedin.com/in/gabesmith/ PriceFX: https://www.pricefx.com/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com
This week, Mark Stiving joins us on the podcast. Mark is the author of the recent book Selling Value: How to Win More Deals at Higher Prices. In the last 25 years, Mark has consulted, trained and/or coached hundreds of companies, including Cisco, Procter and Gamble, Grimes Aerospace, Splunk, and Crowdstrike. Today, he works regularly with PE […] The post Interview with Mark Stiving, Author of Selling Value: How to Win More Deals at Higher Prices first appeared on Composites Weekly. The post Interview with Mark Stiving, Author of Selling Value: How to Win More Deals at Higher Prices appeared first on Composites Weekly.
How do you increase your company's value? Is it as simple as raising prices? Pricing expert Mark Stiving explains how to explore the value that your product or services offer your customers and how you can turn that value proposition into more value in your company. View the complete show notes for this episode. Want To Learn More? Increasing the Value of Your Business | The RVD Model Selling Value: How to Win More Deals at Higher Prices by Mark Stiving Instant Profits: How to Raise Prices Without Losing Customers by Mark Stiving Impact Pricing: Your Blueprint for Driving Profits by Mark Stiving Win, Keep, Grow: How to Price and Package to Accelerate Your Subscription Business by Mark Stiving Additional Resources: Selling your business? Schedule a free consultation today. Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.
In his third appearance on The Soul of Enterprise, pricing expert Mark Stiving, Ph.D., returns to share new insights on maximizing profitability through value-based pricing strategies. As the founder and CEO of Impact Pricing, Mark guides businesses toward understanding and articulating their value, so they can stop leaving money on the table. Join Ron and Ed as they dive deep into Mark's expertise on aligning organizations around value creation, optimizing pricing structures, and tackling the nuances of customer willingness to pay.
Every decision can make or break profitability, and pricing remains one of the most powerful yet underutilized levers. There is fear that often holds companies back from taking bold steps in pricing. How about getting a proven playbook to guide you? Get to have a peek at Mark Stiving's groundbreaking new book, Instant Profits: How to Raise Prices Without Losing Customers. In this episode, together with Mark and guest-host, Rebecca Kalogeris, we explore how this concise, impactful guide empowers executives and decision-makers to conquer pricing fears, implement value-based strategies, and unlock untapped revenue potential—all in under an hour of reading. Let's bring your pricing game to a whole new level and make a lasting impact. Why you have to check out today's podcast: Gain access to the behind-the-scenes of the making of Instant Profits book and how it showcases a concise, actionable guide that can help executives make meaningful changes in their companies. Delve into the common fear of raising prices and gain actionable strategies to address it and boost your revenue confidently. Learn how to price based on the value delivered rather than arbitrary metrics in order to optimize profitability. "If you are an executive, this book is awesome because it gives you a chance to read about what you could or should be doing in pricing, and you can do it in less than an hour. Come up with at least one or two ideas of things you can go do, and it's going to make the company money." - Mark Stiving Topics Covered: 01:43 - The reason why Mark wrote the book, Instant Profits: How to Raise Prices Without Losing Customers 03:18 - Mark highlighting how fear of raising prices can hinder action 04:47 - How his new book, Instant Profits: How to Raise Prices Without Losing Customers differ from the previous one 06:05 - Why you should go and buy this book for $100 and who should purchase and read it 08:05 - Rebecca explaining Amazon's royalty system and the real reason why the book is priced at $100 10:40 - Kindle version available for now and why the hardcover is still to be released 13:30 - Mark emphasizing what makes this book an invaluable and concise resource for executives Key Takeaways: “If you are an executive, this book is awesome because it gives you a chance to read about what you could or should be doing in pricing. And you can do it in less than an hour. Come up with at least one or two ideas of things you can do and it's going to make the company money.” - Mark Stiving “The reason I'm charging a hundred dollars isn't because I need the 30 bucks or the 70 bucks or something like that. The reason we're charging a hundred dollars is because I want buyers to know that it's worth a hundred dollars. That's it.” - Mark Stiving People/ Resources Mentioned: Instant Profits: How to Raise Prices Without Losing Customers by Mark Stiving: https://impactpricing.com/instant-profits-book/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com
What's the secret to setting prices that truly reflect the value you deliver? In this episode of the Pragmatic Product Chat Series, host Rebecca Kalogeris reconnects with pricing expert Mark Stiving for an in-depth look at how understanding value can transform pricing strategies. From Uber's segmentation strategies to the “good-better-best” approach, Mark shares real-world examples and actionable advice to help you capture more value through strategic pricing. Learn about the six key areas where you can identify pricing opportunities, and hear Mark's recommendations on how to overcome the common fears around raising prices. For detailed takeaways, show notes, and more, visit: www.pragmaticinstitute.com/resources/podcasts Pragmatic Institute is the global leader in Product, Data, and Design training and certification programs for working professionals. Learn more at www.pragmaticinstitute.com.
Send us a Text Message.Optimizing Your Price Point for Maximum Profitability.Find out how to strike the perfect balance between value and price to boost your profitability and customer satisfaction.Make sure you're not leaving money on the table! Listen to our conversation with the Chief Pricing Educator of Impact Pricing, Mark Stiving. Get ready to have several Aha moments.Mark has a Ph.D. in pricing. He has been in pricing as a practitioner, educator and advisor for almost 30 years. He has taught pricing to thousands of people and has advised hundreds of companies while they rethink their pricing. Mark says, "All businesspeople should understand pricing. Although they may consider it the last thing they do before launching a product, pricing and value should inform almost all of the decisions that go into creating and communicating about products (or services). "Connect with Mark:www.impactpricing.comMark's Recommended read:Monetizing Innovation: How Smart Companies Design The Product Around The Price by Madhavan Ramanujam
Mark Stiving author of Selling Value, How to Win More Deals at Higher Prices. Most know they're supposed to sell value, but don't know how. Mark discusses how buyers discover value and how salespeople can help.
How do you nail the perfect price for your product? Just ask Mark Stiving, Chief Pricing Educator of Impact Pricing, who will share insights on pricing strategies. He'll explain how understanding your business strategy and customer decision-making process can help you value your products and how to find out how much your customer is willing to pay. In this episode you'll hear:(02:05) How figuring out your business strategy will influence your pricing.(03:00) How to find out how much your customer is willing to pay. (04:52) Should you start selling your products or services at a higher price point? (06:05) The benefits of a subscription model and how to build one.(07:50) How understanding the customer decision process can help you set prices.
Today on the show we have Mark Stiving, the founder of Impact Pricing and author of "Selling Value", "Impact Pricing", and "Win Keep Grow".In this episode, Mark shares his experience in the intricacies of pricing and packaging strategies, emphasizing their impact on customer retention and expansion.We then discussed understanding customer value, overcoming internal biases, and the importance of iterative pricing strategies. We wrapped up by exploring actionable insights on leveraging pricing metrics to enhance customer engagement and reduce churn.Mentioned ResourcesImpact PricingSelling Value BookImpact PricingWin Keep GrowChurn FM is brought to you by Vitally, the all-in-one Customer Success Platform and Chargebee, SaaS for effective revenue growth management.
How can product managers blend pricing strategy, market segmentation, and portfolio? Mark Stiving, Pragmatic Institute Instructor and pricing expert, offers practical advice to help product professionals elevate their pricing strategies and deliver value for customers. In this interview, Mark shares his extensive knowledge and unique perspective on how companies can leverage pricing as a powerful tool for business growth. For detailed takeaways, show notes, and more, visit www.pragmaticinstitute.com/resources/podcasts #ProductManagement #ProductPricing Pragmatic Institute is the global leader in Product, Data, and Design training and certification programs for working professionals. Learn more at www.pragmaticinstitute.com
Welcome to the Business Strategy podcast. I'm your host, Steve Coughran. In today's episode we delve deep into the art of pricing optimization, accompanied by guest speaker Mark Stiving, who will share his expertise in the field of business. In this captivating conversation, we unravel the hidden gems of pricing hacks designed to revolutionize your approach to profitability. From strategic pricing adjustments to innovative techniques for maximizing revenue streams, our discussion leaves no stone unturned in empowering business owners like you to unlock untapped potential and scale your enterprise to new heights. Join us to gain invaluable insights into the psychology of pricing, uncovering how subtle adjustments can yield monumental impacts on your bottom line. With real-world examples and actionable strategies, you'll be equipped to navigate the complex landscape of pricing dynamics with confidence and finesse.Links:Do you have ideas or feedback to share? Email me at contact@coltivar.comTo learn more about us, visit: https://www.coltivar.com/Disclaimer:The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information.Support the Show.Support the Show.
Welcome to another episode of Dealmaker Diaries, where we delve into the minds of industry experts and seasoned professionals to uncover the strategies and insights driving successful deals. Today, we're honored to have Dr. Mark Stiving with us. With over 25 years of experience, Dr. Stiving has been a guiding force for private equity firms and SMB organizations, unlocking the path to increased profits through strategic pricing, packaging, communication, and value-driven sales. Holding a Ph.D. in pricing from U.C. Berkeley, he is also the author of three influential books: “Impact Pricing - Your Blueprint for Driving Profits,” “Win Keep Grow - How to Price and Package to Accelerate Your Subscription Business,” and “Selling Value - How to Win More Deals at Higher Prices.” Mark's diverse career spans pricing, marketing, product management, and private equity dynamics, offering a unique perspective for companies of all sizes and stages. His deep knowledge of buyer behavior informs his understanding, empowering businesses across industries to deliver invincible profits. With a wealth of experience, Mark continues to assist organizations in comprehending their value propositions and securing equitable compensation through practical tools and concepts. --- Send in a voice message: https://podcasters.spotify.com/pod/show/donald-thomas6/message Support this podcast: https://podcasters.spotify.com/pod/show/donald-thomas6/support
In this episode of The Faces of Business, we welcome Mark Stiving, Ph.D., the mastermind behind Impact Pricing, to share his insights that can help B2B companies get more revenue for their products and services. Few voices resonate with the clarity, insight, and expertise of Mark Stiving, the mastermind behind Impact Pricing. With over a quarter-century dedicated to demystifying the complexities of pricing, Mark helps organizations navigate the turbulent waters of market dynamics. His profound understanding of buyer behavior, combined with a unique ability to distill pricing strategies into actionable insights, has cemented his reputation as a sound advisor in the realms of pricing and value maximization. Check out the Blog post here: How to Raise Prices without Losing Customers Thanks for taking the time to listen today. Find Damon Pistulka on LinkedIn talking about life & building businesses you can sell or succeed. On Twitter as @dpistulka with inspiration and sharing thoughts. Find out more about Damon when he's not working. @damonpistulka on Instagram, or Damon Pistulka on Facebook. More information on building businesses you can sell or succeed and the Exit Your Way method on our website View our blog page for this episode here. Email us for more information info@exityourway.com
Guest: Mark Stiving Guest Bio: Mark Stiving has driven business initiatives worth hundreds of millions of dollars. He is sought after for his superpower of finding invincible profits in every company he works with. He is an award-winning international speaker known for helping audiences find hidden value and more profit, immediately. Mark started and successfully sold three powerful companies in the tech sector. His legendary “Value Acceleration Bootcamp: How to use customer value to price, package, and sell products” helps PE firms and innovative companies master their buyers' purchasing decisions to win more business at higher prices. You have probably heard of Mark's many popular books. He is a prolific and highly rated author of “Impact Pricing: Your Blueprint for Driving Profits”, “Win Keep Grow: How to price and package to accelerate your subscription business”, and “Selling Value: How to Win More Deals at Higher Prices” His forthcoming book is “Invincible Profits: How to Lead a Value Revolution and Dominate Your Market” Guest Links: impactpricing.com/Salesology mark@impactpricing.com About Salesology®: Conversations with Sales Leaders Download your free gift, The Salesology® Vault. The vault is packed full of free gifts from sales leaders, sales experts, marketing gurus and revenue generation experts. Download your free gift, 81 Tools to Grow Your Sales & Your Business Faster, More Easily & More Profitably. Save hours of work tracking down the right prospecting and sales resources and/or digital tools that every business owner and salesperson needs. Watch the demo of the Salesology® Prospecting Method, A Simple, 3-Step Method That, On Average, Increases Qualified Appointments & Sales By 73%. If you are a business owner or sales manager with an underperforming sales team, let's talk. Click here to schedule a time. Please, subscribe to Salesology®: Conversations with Sales Leaders so that you don't miss a single episode, and while you're at it, won't you take a moment to write a short review and rate our show? It would be greatly appreciated! To learn more about our previous guests, listen to past episodes, and get to know your host, go to https://podcast.gosalesology.com/ and connect on LinkedIn and follow us on Facebook and Twitter and check out our website at http://www.gosalesology.com
Mike Bosworth is a Co-Founder of WeConcile considered as the world's first Relationship Rescue and Restoration application. In this episode, Mike shares effective pricing strategies and sales techniques to hold prices. Why you have to check out today's podcast: Learn about the concept of "buying vision" and help your customers recognize the value of your product or service Learn how to stand firm against pricing pressure and maintain your desired price Discover how to effectively use "polite No's" to firmly establish pricing boundaries "Understand the value, i.e. how your buyer would use a particular piece of your product to solve their problem. And if you have that knowledge, it's really easy to defend the value of your price." - Mike Bosworth Topics Covered: 02:13 - Mike's pricing approach 03:16 - Understanding why salespeople are losing the conversation when it comes to price 06:40 - What is a 'buying vision' and how helpful it is for buyers 07:26 - The need for salespeople to know well their customer's business 10:20 - How 'premature elaboration' gets you at a disadvantage 13:58 - Explaining 'cost justify' and 'price justify' from the buyers point of view 20:49 - The importance of patience in negotiation and use of "polite No's" to stand your ground on pricing 24:36 - Book resource of major negotiation stories you can check out 25:42 - Mike's pricing advice Key Takeaways: "The only salespeople who can go out and negotiate their own prices are those ahead of quota." - Mike Bosworth "I say to the managers, if your salesperson is under quotas, you have to go out there and provide the backbone and coach the call ahead of time.” - Mike Bosworth “We want to teach them how to survive that call, but on their own, they're not going to have the ability to do it." - Mike Bosworth People/Resources Mentioned: Xerox: https://www.xerox.com/en-us Sales Force: https://www.salesforce.com David Crabtree: https://www.barnesandnoble.com/w/hold-out-david-n-crabtree/1119321227 Connect with Mike Bosworth: Linkedin:https://www.linkedin.com/in/mikebosworth/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com
Buyers trade money for value. Understanding this is key to a company getting better tomorrow. Pricing expert Mark Stiving talks about the easiest way to increase a company's value and looks at how pricing adjustments impact value, sales growth, and the perception of a business. He discusses developing strategies for an effective price increase, managing the timing, how a company can confidently raise prices without the fear of losing customers, and other strategies that can increase a company's value. View the complete show notes for this episode. Learn More: Business Valuation & Return on Investment (ROI) Business Valuation: A List of Factors to Consider Business Valuation Guide: Do I need a Valuation? What's a ‘Main Street' vs. a Middle-Market Company? Marketing a Small Business for Sale Additional Resources: Planning to sell your business? Schedule a free consultation today. Download a free PDF copy of The Art of The Exit: The Complete Guide to Selling Your Business, Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue, and Food and Beverage M&A: An Insider's Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business. Purchase your copy now of A Beginner's Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal To suggest guests, topics, or questions for future podcast episodes, contact Morgan & Westfield.
This one is the 8 of Spades from the Impact Pricing card deck. You've probably heard me use the words 'will I' and 'which one' in the past. 'Will I' are situations where our buyers are choosing to buy our product or not, but they're not choosing whether they buy our product or a competitor's product. When we can find ourselves in a 'will I' situation, we know that our customers are not price sensitive. So, the key here is to know the difference. Are they comparing us to competitors or not? My recommendation is assume they're not. Because if we assume they are, we start talking about who our competitors are and they say, "Oh, you have competitors, let me go look at them." Instead, we talk to them about the value of solving the problem and why our product is going to help them solve that problem and get a huge return. And we never even mentioned that a competitive alternative exists. When the customer says to us, "Oh, we're looking at X, Y, Z company." Then we know that we can shift to talking about how we're better than our competition. What are those features or capabilities that we do that our competition can't match? But up to that point, let's make the assumption there is no competition. In fact, my favorite way to find out the answer, is there competition, is to ask the following question, "If you don't buy this, what will you do?" Notice that that question implies there is no competition. It doesn't say that go look at the competition. So my recommendation, always assume there is no competition. Talk about the value of solving the problems, and then you can shift your sales technique after you realize competition is in the deal. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the 9 of Clubs from the Impact Pricing card deck. We often hear the word 'strategic' as in, "Hey, I'm making a decision today so that it grows my business someday in the future." Well, that's exactly what we want to do when we think about the lifetime value of a customer. I'm not so worried about, "Can I get the three year contract signed today?" Many companies do. But when you try to get the three year contract signed right away, you make it harder to win the customer. But what if you took a one year contract? Or what if you took a one month contract? Or even had a free trial period. And you let people get into your product, and you deliver so much value that they never leave. What we just did was get them into our ecosystem. And then over time we can get them to buy more from us, to stay with us. And that's because we know we're delivering a ton of value. This is what it means to focus on lifetime value. I'm okay taking a smaller number today because I know that over time this customer is going to grow with me and give me a whole lot more money that I'm trying to capture today. Whereas if we focus on the value of the three year contract, it's oftentimes hard to win that customer today. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the 9 of Diamonds from the Impact Pricing card deck. When we think about subscriptions, and I've talked to several companies who are trying to move from more of a transactional business to a subscription business, they think it's 'just pricing'. "Oh, we want to set our price this way." But it turns out it changes so much in your business, not just the way you set pricing. One of my favorite things about the subscription business model is that buyers pay us for a continuous stream of benefits, meaning we're delivering benefits month after month after month. The question in your business is, are you truly delivering benefits month after month after month? In which case, maybe you have a good business for starting a subscription business model. Then we want to think about, not only how are we delivering it, but then, how much value do they get each month? How do we start to capture that? And so, we can certainly price it, but we really need to structure our company around winning these customers. And then we have to figure out, how do we keep them? How do we minimize churn? And over time, we figure out how to grow these customers. How to get them to upgrade or buy more from us? So, subscription isn't as simple as, 'let's change the way we do pricing'. It really is an entire business model. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
EPISODE SUMMARYUnderstanding the intricacies of pricing and value proposition is crucial to successfully growing a SaaS business. In this new episode of Scale Your SaaS, host and B2B SaaS Sales Coach Matt Wolach sat down with Mark Stiving, the founder of Impact Pricing, who shared his valuable insights on how software leaders can revolutionize their value proposition and dominate the market. Read on to learn more about the pricing mistakes that cost you lost revenue.PODCAST-AT-A-GLANCEPodcast: Scale Your SaaS with Matt WolachEpisode: Episode No. 304, “Pricing Mistakes that Cost You Lost Revenue - with Mark Stiving”Guest: Mark Stiving, Founder at Impact PricingHost: Matt Wolach, a B2B SaaS Sales Coach, Entrepreneur, and InvestorSponsored by: LeadfeederTOP TIPS FROM THIS EPISODEUnlock the Power of ValueIn pricing SaaS products, Stiving emphasized the importance of recognizing the true value a product brings to the customer. He stressed that understanding customer value and harnessing it through effective pricing strategies is the key to generating invincible profits.Identify and Quantify ValueStiving introduced the concept of a "value table," encouraging businesses to identify their most marketable product features. The challenge is to then determine the specific problems these features solve for customers. Through a systematic approach to understanding customer problems, software businesses can quantify the results and ultimately assign a dollar value to the solution.Leverage Customer GrowthStiving highlighted that while many software companies focus extensively on acquiring new customers, the real potential lies in growing existing ones. By adopting a mindset of 'win, keep, grow,' businesses can explore four avenues for customer growth: raising prices, upselling, cross-selling, and usage-based pricing.EPISODE HIGHLIGHTSStrategic Pricing for Sustainable GrowthAddressing the perennial concern of raising prices without causing customer churn, Stiving offered a practical strategy. By incrementally raising prices for the top tier of customers who derive the most value, businesses can carefully monitor the impact on churn. This approach ensures that the value delivered justifies the price increase, creating a win-win situation for both the business and its customers.Build a Value-Based CultureThe key takeaway for software leaders is to cultivate a value-based culture within their organizations. Stiving advocated for a continuous focus on understanding customer needs and integrating this perspective into every decision. By placing the customer at the center of business considerations, companies can foster long-term success.Take ActionFor software leaders seeking to refine their pricing strategies and value propositions, Mark recommends exploring the framework of the valuable features available on Impact Pricing's website. Additionally, leaders can gain further insights by connecting with Stiving through a consultation or discoveryGet even more tips by following Matt elsewhere: Sales Tips LinkedIn Twitter Instagram
Mark Stiving, Founder of Impact Pricing, joins Dustin on this week's episode to deep dive into the art of pricing. They start by exploring the concept of value and how it can be understood and communicated to customers, delve into the challenges of pricing in different scenarios, and also discuss the importance of communicating pricing on the website. The conversation covers topics like price increases, providing value in non-software subscriptions, and selling solutions instead of platforms. The key takeaway is the significance of understanding and delivering value to customers in order to set effective pricing strategies. If you have any questions or thoughts, you can reach out to Mark through LinkedIn. Also, check out Impact Pricing's website to learn more about their work.
This one is the 9 of Spades from the Impact Pricing card deck. There are two major rules in pricing that are hugely valuable to your organization. The first one is value-based pricing, which simply means charge what your customers are willing to pay. The second one is to adopt price segmentation. Think about this for just a second. No two buyers actually are willing to pay the same price. Which means every buyer has a different willingness to pay. If we really want to adopt value-based pricing, at its best, then what we're doing is trying to figure out, how do we get individual people to pay us what they're willing to pay? Of course, this is impossible to do perfectly, but it's not impossible to say, hey, this type of person, this type of customer, gets more value from our product. They're willing to pay more because they get more value. We see this all the time. For example, it could be that when we sell to Asia, they're more price sensitive so they end up with a better price. And when we sell in the US or Europe, we end up charging higher prices. This is price segmentation and that's where the value is. There are several ways to do price segmentation. Those include understanding the characteristics of your customer. What information can you collect at the time of the transaction? And then, are there behaviors or hurdles you could put in their way so that those who are price sensitive are willing to jump that hurdle in order to get a better price? So, my advice, think very hard about, how do you do price segmentation? How can you charge different customers different amounts based on their willingness to pay? We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Check out Impact Pricing.Get Connected with SixFifty, a business and employment legal document automation tool.Sign up for Gavel using the code LAWSUBSCRIBED to get 10% off an annual subscription.Visit Law Subscribed to subscribe to the Substack newsletter to get notified about every episode, listen from your web browser, and for additional content.Register for ABA TECHSHOW 2024 and attend both of presentations called (1) Podcasting for Lawyers: Mastering the Medium with AI; and (2) AI will Redefine Firm Business Models and End the Billable Hour. Are You Prepared?Follow @lawsubscribed everywhere.Sign up for the Subscription Seminar Waitlist at subscriptionseminar.com.Check out Mathew Kerbis' law firm Subscription Attorney LLC. Get full access to Law Subscribed at www.lawsubscribed.com/subscribe
Mark Chussil is the founder of Advanced Competitive Strategies, Inc. He is an expert in qualitative and quantitative business war games, custom strategy simulators, executive education and management development programs. Highly rated speaker, published books and dozens of articles on business and competitive strategy. In this episode, Mark shares how simulating pricing strategies before actually implementing them can do away with costly outcomes thereby improving one's bottom line. Why you have to check out today's podcast: Discover the essence of the Top Pricer Tournament Enhance your pricing strategy by utilizing simulation techniques to mitigate potential risks and minimize losses Find out fascinating insights and findings from the 'Top Pricer Tournament' and learn what to expect when participating in this exciting event "If we choose a good strategy that turns out to be bad, what we have actually encountered is a false positive. And what we need to do a whole lot better in business is to be able to distinguish the false positives from the true positives. And that's what these simulations are about." - Mark Chussil Topics Covered: 02:59 - Differentiating decision rules versus decisions 05:31 - Mark Chussil agreeing to what Mark Stiving says in reference to Axelrod's 'tit for tat' and 'tit for tat with forgiveness' 07:16 - Drawing inspiration from Axelrod's work, Mark describes his own contribution 09:51 - Mark Chussil's perspective on Mark Stiving's assertion that companies prioritizing profit outperform those aiming for market share 11:15 - Findings about 'tit for tat' on why it doesn't work 12:17 - What is 'Top Pricer Tournament' and how it relates to or differ from 'Prisoner's Dilemma' 16:07 - Surprising findings from his own 'Top Pricer Tournament' 21:37 - Things to expect when you join Top Pricer Tournament 24:58 - Mark's best pricing advice 27:12 - Relating strategy to a decision Key Takeaways: "Strategy is a bet." - Mark Chussil "In the Top Pricer Tournaments, and in life in general, we have situations where we can make great decisions, but somebody else has made a better decision or somebody else has come up with something that we didn't think about." - Mark Chussil "I have seen people come up with strategies that I know I never would have thought of. And there's also a few that are in the Top Pricer Tournament that no human has selected yet, and that would outperform any of the ones that humans have selected so far." - Mark Chussil People /Resources Mentioned: The Evolution of Cooperation by Robert Axelrod: https://www.amazon.com/Evolution-Cooperation-Revised-Robert-Axelrod/dp/0465005640 Connect with Mark Chussil: LinkedIn: https://www.linkedin.com/in/markchussil/ Email: mchussil@competing.com Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com
In this replay episode, join our host, Rowan Noronha, as he discusses how to price with confidence with Jason Oakley (Founder, Productive PMM), Mark Stiving (Founder, Impact Pricing), and Kyle Poyar (Operating Partner, OpenView).Your pricing structure is your top profit lever. It can boost profits much more than increasing sales or cutting costs can. But most companies leave money on the table because they don't charge the right price.Why is pricing underdeveloped in most companies? And how can companies do better?In this episode, pricing gurus Mark and Kyle explain which function should own pricing (cough, product marketing) and how to choose the right pricing strategy.
This one is the King of Spades from the Impact Pricing card deck. Of course there's no such thing as a commodity. Well, many salespeople, many business people think they're selling a commodity. And what that really means is that they just have to charge the same price that everybody else charges. But is that really true? In my view of the world, if you're charging the exact same price, that means you're not adding any value. Why would I buy from you versus somebody else? And in truth, there are ways that you can add value to almost anything. For example, if you were to go to two different vendors of gold coins online today, you'll find they're not identical prices. But isn't gold a commodity? Well, maybe it's approximately the same price, but there's a difference in price based on the service level of the vendor. Based on something that they're giving above and beyond. Maybe it's free shipping. Maybe it's storage. Maybe it's the niceness of the salespeople. Regardless of what it is, there's something there that says, Hey, I get to charge a little bit more than my competition because my product, my service, something is better. And what we need to do, even if we're selling a true commodity, something that is physically identical to somebody else's, we can differentiate it through other means. So, we should always be focused on the fact that we are not selling a commodity. In fact, my view of the world is, if you're claiming that you sell a commodity, then we don't need you as a salesperson. And we don't need you as a product manager. Because pretty much everybody has the same thing, why would we need you to help us? So, accept that fact and drive hard, what's different? Where's your differentiation? What can you do that's better so that you can charge a higher price? We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
GTM Disrupted host Mike Smart grabs a few minutes with Mark Stiving, Ph.D., and Chief Pricing Educator of Impact Pricing. They do a dive deep into the world of B2B SaaS pricing and sales strategies. Mark shares insights on the evolving dynamics of pricing in the SaaS industry and how market segmentation, product packaging, and pricing metrics play a pivotal role. Mark sheds light on key concepts of his latest book “Selling Value: How to Win More Deals at Higher Prices.” This episode gives valuable takeaways including: 1. Segmentation power in pricing strategy 2. How to price with precision 3. SaaS companies that price with success Mike and Mark discuss how to price strategically to address growth and retention challenges in B2B SaaS companies. Mark's Bio Mark is an educator at heart and a pricing expert by education and experience. He helps companies win more business at higher prices by delivering programs to help executives and employees create, communicate, and capture more value. For 30 years, Mark has led, coached, and taught businesses to extract more of the value they create. He has driven company-wide pricing initiatives worth hundreds of millions of dollars in incremental profit and started and sold three companies. Mark writes about pricing and value. In his most recent book: Selling Value: How to Win More Deals at Higher Prices, Mark takes his years of pricing expertise and applies it to sales with some surprising insights. To learn more about Mark to go https://www.linkedin.com/in/stiving/ Or email Mark: mark@impactpricing.com.
How much is my product worth - and what is my customer willing to pay? Every entrepreneur asks these questions at some point in their small business journey. Mark Stiving, Chief Pricing Educator of Impact Pricing, joins Andrea with insights on:(2:00) How to think about pricing your product or service.(02:58) How to figure out how much your customer is willing to pay.(04:46) Should you start pricing your products at a higher price?(06:04) How to grow a subscription model and why it's beneficial.(07:51) How to remain competitive while still growing.(09:21) What are valuables and how can they help your business grow?—Click HERE to leave us a message!By submitting your voicemail, you're granting us permission to use the recording in episodes of This is Small Business. Please note, voicemails will not receive direct responses. For help with other questions to Amazon unrelated to this show, you can reach out to Amazon's customer service team at amazon.com/contact-us.
This one is the Joker 1 from the Selling Value card deck. You heard earlier that there are really three types of buyer's value journeys. Those happen to be analytical, relationship, and trust. In the analytical relationship, there's typically a lower level person who's doing a lot of side by side comparison between your product and a competitor's product, and our buyers are by far the most price sensitive in that situation. Or we could go all the way to the trust journey, and that is where they come to us. They ask us, "Hey, what do you do? How do you help us solve our problems?" They never even look at a competitive alternative. And in that situation, they're the least price sensitive. The relationship journey is the one in the middle, where people would come to us and say, "Hey, how do you help us solve our problem?" We guide them. They build a great relationship. They really like us. And then they say, "Yeah, but we have to go look at competitive alternatives." We've built up enough goodwill and probably tweaked their thinking that we have the competitive advantage. And so, they're not going to be as price sensitive as they would be if they were in a relationship journey. But they're still more price sensitive than it was just a trust journey. So, you could think of these three different journeys (the analytical, relationship, and trust) is how our customers go learn about the value of our products. But at the same time, it's how price sensitive are they going to be when it's time to negotiate the price. It's really important that we understand which journey each buyer is on. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Join host Jane Bayler in this engaging podcast episode as she sits down with Mark Stiving, a renowned pricing expert with a wealth of knowledge and experience. Jane has brought Mark onto the Smart Connector podcast to change the way you and your team think about pricing and business as a whole. In this episode, you'll gain invaluable insights into: Pricing Psychology: Delve into the psychological aspects that influence how customers perceive pricing. Learn how understanding consumer behaviour can shape your pricing strategies to drive better results.Value-Based Pricing: Discover the power of aligning your prices with the unique value your product or service provides. Mark shares strategies for effectively communicating the value proposition to customers and prospects.Winning at Higher Prices: Explore practical tactics for positioning your offerings in a way that justifies premium pricing. Mark's advice will help you build a compelling case for the increased value you bring to your customers.Adapting to Market Dynamics: Mark discusses the importance of staying agile in your pricing approach, especially in today's dynamic market landscape. Learn how to adjust your pricing strategies to accommodate shifts in demand and competition.Transformative Pricing Strategies: Uncover unconventional pricing strategies that can set you apart from competitors and create a lasting impact on your business's growth. Tune in to elevate your pricing strategies and empower your business to achieve new heights of success. Jane Bayler is the Smart Connector, a London based passionate serial entrepreneur, brand marketer and business growth exploder, who helps overlooked and undervalued consultants and b2b service providers generate consistent, scaleable revenues through becoming the go-to authority in their sector. Having spent 20 years in global advertising and brand marketing, where Jane managed campaigns and developed business for market leading brands such as Coca-Cola, Discovery Networks, British Airways and ITV, she then scaled and sold a London brand identity business to US communications group Interpublic, before becoming MD of their brand consultancy, Futurebrand. Today, Jane runs a strategic positioning and business growth program called Ideal Client Success. This packages and productises her clients' services to make their offers relevant, compelling and irresistible to the people who will value them the most. Join the program to receive a bespoke blueprint for your growth that is rapid, achievable, and eliminates the overwhelm of chasing shiny objects and diving into tactics that will leave you spinning your wheels without results. Create a deeply rewarding, profitable business, and leave being overlooked and undervalued to the 'also rans' who wish they were you. The Smart Connector podcast features a range of exciting interviews with experts across multiple sectors, as well as some of Jane's own client case studies and stories. Packed with insights and tactical as well as strategic tips to make your consulting or service based business succeed, this is your go to resource for sustainable success. Attract those who ‘lift you higher' and repel the rest. Become a Smart Connector, the architect of your amazing business and life. We are proud to announce the Smart Connector podcast is brought to you by our sponsor Virtual Non Execs, the world's #1 peer-to-peer board advisor community, which connects thousands of investors, entrepreneurs and investors across the globe. https://virtualnonexecs.com Want to connect with Jane in person? Book a clarity call here: https://idealclientsuccess.com/zoom30 Visit Jane's website and connect on socials here: https://www.janebayler.com Check out Jane's Chosen First DONE FOR YOU client attraction system here: https://chosenfirstsystem.com
This one is the 2 of Clubs from the Selling Value card deck. Salespeople are going to use every single tool they have available to them. Absolutely, they're going to use value selling if we've taught them how, and they understand, and they're doing a great job. But even if they're using value selling, it's very easy for them to offer discounts. And there's this attitude or belief that offering discounts helps close a deal faster. And maybe it does. Maybe when a customer or a buyer asks you for a discount, it takes longer to say no and explain why. And we could have just said yes and close the deal and we're done. Wouldn't that be great if it worked that way? But here's the key. Every dollar that we discount comes straight off of our profit. We still have to cover all of our costs, and so our margin just got shrunk by more than our revenue did on a percentage basis. So, if we want our salespeople to not rely on price, we have to make it painful for salespeople to offer discounts. How do you do that? Create a compensation plan that as they give bigger discounts, the percentage or the size of their deal goes down faster than the revenue goes down because salespeople are incentivized to close deals as fast as possible. And we want to make sure they're incentivized to close deals quickly at the highest possible price. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the 2 of Hearts from the Selling Value card deck. When you get an RFP, you have to decide, are you going to bid or not. Believe it or not, that's actually a decision you get to make. You do not have to respond to every RFP that comes through. And my advice, if you are not involved in the creation of the RFP, or at the very least, if you cannot have conversations with the decision makers or executives of the group who created that RFP, you have a very low chance of winning. And so, the time and energy that you spend replying to the RFP makes you feel like you're doing work, but odds are really good you're not going to win that deal. There's somebody else that has already built a relationship with the client, understands exactly what the client wants, is able to create a response to that RFP that fits them almost perfectly. They've built the rapport so the client's going to give them the benefit of the doubt no matter what. If you're going in blind to an RFP, you're probably not going to win. Let's test that. From here on out, every time you respond to an RFP, just keep track. Did I help write this? Do I know the leaders? Do I get conversations with the executives? And if the answers are no, and you go ahead and bid, see how many of those you actually win. And I will bet you the percentage of those is so low you realize it just isn't worth your time to bid RFPs where you're not already involved. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Mark Stiving is my guest today and he is a pricing expert. What does pricing have to do with The Courage of a Leader? It turns out, quite a lot!The secret to effectively pricing your products and services is the same one leaders can use to clearly define and communicate the value of their teams' work.Are you intrigued? I was!About the Guest:Mark Stiving, PhD, MBA, is a widely recognized pricing expert and marketing pro who teaches companies how to boost revenues and realize their true value. With 25+ years' experience in price segmentation, pricing product portfolios and visionary pricing, Mark's analytical skills provide specific direction and quantifiable results. Sought after as a trusted advisor, Mark has consulted, trained and/or coached hundreds of companies including Cisco, Procter and Gamble, Grimes Aerospace, Splunk, and Crowdstrike.Mark uses a creative but pragmatic approach to help large businesses and entrepreneurs untangle confusion about pricing. All businesses can benefit from Mark's value-based pricing strategies to capture their true worth, from start-ups to seasoned enterprises.Mark is an award-winning speaker and the author of Impact Pricing: Your Blueprint for Driving Profits and his latest book Win Keep Grow: How to Price and Package to Accelerate Your Subscription Business The best way to reach Mark is on LinkedIn https://www.linkedin.com/in/stiving/ or via email mark@impactpricing.com About the Host:Amy L. Riley is an internationally renowned speaker, author and consultant. She has over 2 decades of experience developing leaders at all levels. Her clients include Cisco Systems, Deloitte and Barclays.As a trusted leadership coach and consultant, Amy has worked with hundreds of leaders one-on-one, and thousands more as part of a group, to fully step into their leadership, create amazing teams and achieve extraordinary results. Amy's most popular keynote speeches are:The Courage of a Leader: The Power of a Leadership LegacyThe Courage of a Leader: Create a Competitive Advantage with Sustainable, Results-Producing Cross-System CollaborationThe Courage of a Leader: Accelerate Trust with Your Team, Customers and CommunityThe Courage of a Leader: How to Build a Happy and Successful Hybrid Team Her new book is a #1 international best-seller and is entitled, The Courage of a Leader: How to Inspire, Engage and Get Extraordinary Results.www.courageofaleader.comhttps://www.linkedin.com/in/amyshoopriley/ Resources mentioned in the episodeMade to Stick by Chip Heath and Dan Heath - https://heathbrothers.com/books/made-to-stick/Selling Value, How to Win More Deals at Higher Prices - https://impactpricing.com/books/The Inspire Your Team assessment (the courage assessment): https://courageofaleader.com/inspireyourteam/ Thanks for listening!Thanks so much for listening to The Courage of a Leader podcast! If you got inspired and/or got valuable leadership techniques you can use from this episode and think that others could benefit from listening, please share using the social media buttons on this page.Do you have questions or feedback about this episode? Leave a comment in the section...
Steven Forth is Ibbaka's Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business designed to help companies create and capture value. In this episode, Steven discusses the challenges of pricing AI, primarily due to the limited availability of data. He emphasizes the importance of shortening the time required to build value models in order to easily establish pricing. What you will learn from this episode: Discover the complaints and challenges associated with pricing AI Enhance transparency in establishing the price point with creating value models Find out the most recent advancements in AI pricing concerning language models and software, which greatly enhance productivity "Once you have a good value model, coming up with pricing is maybe not trivial but it's certainly much easier." - Steven Forth Topics Covered: 01:15 - Discussing complaints about AI through the Value Models 07:57 - Steven's added thoughts to Mark's suggested solution to achieve pricing transparency [limitations in creating value models] 11:43 - The need for more trainings for language models used in pricing 14:25 - What is Copilot by Microsoft and what it is capable of doing that can help salespeople 17:04 - How is Copilot might disrupt the market especially Google Workspace user 17:50 - Survey of people's willingness to pay $30 a user for Copilot [and whose group is more willing to pay more] 22:20 - How were the users segmented, are they all Copilot users, and finding out people's reaction to AI 23:37 - The amazing capabilities of these two AIs 24:57 - What could happen if Mark Stiving will use AI to write his fourth book [The need for great prompt engineering] 28:12 - How are AIs going to be priced 29:59 - Microsoft Copilot as a 'Will I' question Key Takeaways: "If you can build a value model and validate a value model, then you can fairly easily, I believe, derive pricing from the value model." - Steven Forth "We should be able to customize a language model based on our training and integrate mathematical AI from a place such as Wolfram/Alpha to greatly scale up our ability to build value models so that we could legitimately do a thousand a year or so." - Steven Forth Resources/People Mentioned: Craig Zawada: https://impactpricing.com/podcast/ep95-defining-no-touch-and-self-serve-pricing-with-craig-zawada/ PROS: https://pros.com/ Vendavo: https://www.vendavo.com/ Zilliant: https://www.zilliant.com/ McKinsey: https://www.mckinsey.com/ Wolfram/Alpha: https://www.wolframalpha.com/ iGenius: https://www.igenius.ai/ Hugging Face: https://huggingface.co/ OpenAI: https://openai.com/ Figma: https://www.figma.com/ Notion: https://www.notion.so/product Connect with Steven Forth: Email: steven@ibbaka.com LinkedIn: https://www.linkedin.com/in/stevenforth/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com
“Pricing fences are the implementation methodology around how we do price segmentation,” Mark Stiving In this episode of Pragmatic Product Chat, host Rebecca Kalogeris and pricing expert Mark Stiving, founder of Impact Pricing, explore the multifaceted concept of pricing fences. Together, they delve into the importance, practical application, and nuances of pricing fences. Key Takeaways: Understand the role of pricing fences in implementing price segmentation Learn how pricing fences can be applied in different scenarios Discover the underlying principles, various methodologies, and real-world applications Take Your Pricing Skills to the Next Level with Pragmatic's Pricing Course Ready to dive deeper into pricing strategies? Pragmatic's Pricing Course (PRICE) offers hands-on lessons in value-based pricing, subscription models, market differentiation, and more. In just 7.5 hours, you'll gain the skills to align pricing with your corporate strategy, optimize revenue, and outpace the competition. Don't miss this opportunity to learn from the experts. Learn more and enroll today!
This one is the 3 of Clubs from the Selling Value card deck. It really is easier to sell to someone who's already trying to solve a problem or realizes they have a problem and wants to go solve it. As I've mentioned previously, as a pricing expert, I believe that almost every company can use my services. Almost every company will benefit dramatically. And yet for me to go knock on a door of a company and say, "Hey, I'm a pricing expert. Would you like some help with your pricing," probably isn't going to be that fruitful because not many companies say, "Hey, I've got a pricing problem." But as soon as someone says, "Hey, I have a pricing problem." Now, what do they do? They start to look for someone who could possibly solve that problem. Maybe they go to professional pricing society meetings. Maybe they do Google searches on how to find pricing experts. Maybe they look up content and see who the experts are that are writing about it. And then they reach out to me, or to one of my competitors. But the point is, when someone reaches out to me, they've already said to themselves, "Hey, I have a pricing problem. Maybe someone can help me fix it." So, what about your business? If you know you can solve someone's problem, but they don't either know they have the problem or maybe they just know they have it but they haven't prioritized it. It isn't a big enough deal for them to go say, "Hey, I'm going to go fix that problem now." It's probably better if we can find a way to find customers who've already prioritized solving your problem. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the 3 of Spades from the Selling Value card deck. Of course, salespeople, marketing people, we have to do prospecting. The question becomes, who do we look for as prospects to move into our sales funnel? Well, now that we know that people really have to solve problems, that's the reason they buy our products. The question now is, do we think it's easier to sell to people who already know they have a problem, or to people that we have to convince they have a problem? You often see advertising like this where people will say, "Hey, come solve this problem." And now what's happening is people are self-selecting and, "Oh, yeah, I've got that problem," so they're trying to find those people. On the other hand, sometimes we have to convince somebody they have a problem. I find it interesting, I used to run a company a long, long time ago, and my cell phone number still is the phone number that I had when I had that company. And I'll get calls from moving companies that the opening line is, "Hey, I heard that Home Director is moving." Well, it turns out I don't run Home Director. Home Director doesn't exist anymore. Home Director's not moving. But that was a way for them to quickly prospect and find out, "Hey, do I have a company and is the company moving?" Because if the answer that's yes, I've got a problem. And if the answer that's no, then they don't have a problem. So they're trying to figure out relatively quickly, am I somebody that they might be able to sell to or not? So think about, when you're prospecting, are you prospecting to people who already know they have a problem? Or are you looking for people and then trying to convince them they have a problem? As a pricing person, I have to tell you, I think every single company has a problem. But it's insane for me to try to go to a company and convince them they have a problem. And it is so much easier for me to work with companies who come to me because they know they have a problem. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the 4 of Clubs from the Selling Value card deck. It turns out that procurement people often lie to us. And it's their job, not necessarily to lie, but it's their job to get a better price. And what often happens is they'll say to you, "Hey, you're up against these other two or three competitors. In this situation, you have to lower your price if you expect to win this deal." And it turns out oftentimes that's not true. Oftentimes, you're not up against two or three different competitors. Back many, many years ago when I was in sales, I recall procurement people actually saying, "You're up against this other competitor." And it turns out the competitive product they were looking at wasn't even similar to the product that I was offering. And so, it was obvious to me that they were just lying. And in fact, I experienced this extremely clearly when I was on the buying situation. I was part of a committee and we'd chosen a software application that we wanted to purchase. And I was in the meeting when procurement said to the company that we were going to buy from, "You're up against these other two competitors, you better sharpen your pencil." And I knew for a fact that wasn't a true statement. So, please be careful and the way you know is, go back to the committee. Find out if the committee selected you or selected you as one of several different possible alternatives. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
"Your customers are looking at your product and asking for discounts. The key is to demonstrate the value of your product so that they understand the price is justified." - Mark Stiving, Chief Pricing Officer for Impact Pricing In this episode of the Pragmatic Live, host Rebecca Kalogeris, Vice President of Product at Pragmatic Institute, interviews Mark Stiving, Ph.D., Chief Pricing Officer for Impact Pricing, who shares six ways to raise product prices effectively. They discuss pricing strategies such as focusing on products that are add-ons, using market segmentation to adjust prices, and creating a new product version by taking away some features and charging a lower price. These strategies can help companies increase revenue without causing too much disruption or risking losing customers. The conversation contains valuable insights and practical tips to help professionals elevate their products, company, and career. Tune in to this episode to learn more about effective pricing strategies and take your product management skills to the next level. Do you want to learn how to be more market-driven? Enroll in Foundations You'll learn how to understand the market and its problems, use that knowledge to build and sell products people want to buy, and master the Pragmatic Framework to bring successful products to market. Learn More
This one is the 7 of Diamonds from the Selling Value card deck. So, when you talk to your buyers about value, they do shift the way they think from spending on an expense toward investing. Because typically when you or anyone is shopping for something, we're thinking, how much do I have to pay and what are the features that I'm going to get? And we stop thinking about the value of what it is that we're buying. And if we have the opportunity to help our buyers understand, hey, when you go solve this problem, what's the value of solving that problem? So maybe, yeah, you're going to pay me a lot of money, but think about all the money you're going to make in additional profit because of the fact that you bought an implemented and used my product. And if we can get them focused on the value, they become a little bit less price sensitive and they trust us and like us even more. So, my recommendation is, talk about value way more than we talk about features and price. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Ajit Ghuman is the Director of Product Management, Pricing, Packaging, and Customer Experience at Twilio. He is the author of the book Price to Scale. He's had Director of Product Marketing title at several companies, and he added pricing to his title in 2019. Ajit is fascinated by ancient mysteries. In this episode, Ajit educates us on pricing and packaging as he shares why he's passionate when it comes to changing the monetization stack, especially on companies being able to change pricing strategies a lot quicker than today. Why you have to checkout today's podcast: Learn how pricing can done through a four-step framework; Find out how to create a pricing system that can work well with all strategies; and Understand why it's an advantage to be able to change pricing strategies quickly “I think of pricing in a four-step framework. The four steps are packaging, pricing metric, tariff structure, and then price point.” – Ajit Ghuman Topics Covered: 01:44 – How Ajit got into pricing 03:09 – Ajit talks about his book, Price to Scale, sharing the reason behind writing it and its key concept 04:40 – Backstory as to why Ajit wants to change the monetization stack 08:12 – Why the term quote to cash doesn't bother Mark vs. how Ajit sees it 11:01 – We need better systems to let the strategy come to life 13:16 – How to create a code to cash (pricing) system that can work well with all pricing strategies 16:33 – Do companies do this practice in pricing? 18:30 – Talking about companies not monitoring usage of their product 19:59 – How often should companies tweak their packaging? 23:08 – How Ajit and Mark decide what feature goes into what package 25:31 – Why Ajit is a bit averse to good, better, best 29:40 – Ajit's pricing advice 30:35 – Connect with Ajit Key Takeaways: “You have the best pricing strategy in the world, let's say you hire Mark Stiving to help you with your pricing, and you have the best thing on paper, but your systems don't let you operationalize it, so you're stuck in the water. That's what I'm saying. We need better systems to let the strategy come to life.” – Ajit Ghuman “You're not going to have people write code all the time to do this. Otherwise, your main product will suffer. So just like you used to spend money on product analytics in the past or some other piece of core technology, I think there is a realization companies are having now, like somebody needs to build best practice products that do these things so that we can hook up into their APIs or their SDK and just do it.” – Ajit Ghuman People / Resources Mentioned: Price to Scale: https://ajitghuman.com/pricing-book/ Code to Cash podcast: www.codeto.cash/author/ajitpal/ Dor Sasson: https://www.linkedin.com/in/datapm/ Connect with Ajit Ghuman: LinkedIn: https://www.linkedin.com/in/ajitpalghuman/ Email: ajit@pricetoscale.com Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mailto:mark@impactpricing.com
For the last ten years, Robert Ribciuc has been working as the Managing Partner of EBITDA Catalyst, helping clients accelerate growth in key valuation metrics. He has a BA in Math and Economics from Harvard and an MBA from Chicago Booth School of Business. In this episode, Robert shares some of his insights on how to deal with different kinds of people in the industry, be it personal or online. Why you have to check out today's podcast: Get tips on how you could recover and avoid “falls” in your life Learn how to give feedback and criticisms in a nice, positive manner Discover some lesser-known tricks/hints about how the LinkedIn algorithm works “If enough people notice those behaviors in you, that are all about you – selfish, self-promoting, etc., most of the time, when a comment like that is posted, nobody replies or gives any acknowledgment to that kind of comment, and you can just hear in that wall of silence all the people who are mentally walking away from this person just like you described.” – Robert Ribciuc Topics Covered: 01:37 – Pre-recording conversation about the pricing community and the different kind of people in the industry 07:10 – How to deal with people who self-aggrandize 11:46 – The recipe for avoiding the next “thud” in your life 17:06 – Why everyone avoids people who are negative, selfish, and self-promoting 20:42 – Why many people are reluctant to give feedback or criticism 23:24 – How to give feedback in a positive and helpful tone 24:31 – Some helpful LinkedIn tips/hints from Mark Stiving 29:04 – (When posting something) Add something positive to the conversation instead of demeaning the author 30:19 – Connect with Robert Ribciuc Key Takeaways: “Sometimes, pressure brings these behaviors that you and I may be chuckling at and promise ourselves we're not going to be like that.” – Robert Ribciuc “If you remove this artificial constraint we placed on ourselves, like, ‘I got to grow this fast' or ‘I got to be on this trajectory' or ‘I got to reach this amount of money' or whatever, and you just let that balancing act, and rest on what makes you feel most whole and contributing to the world, maybe that's a recipe for avoiding the next thud in your life.” – Robert Ribciuc People / Resources Mentioned: Savvy Self-Promotion (HBR article): https://hbr.org/2021/05/savvy-self-promotion Unreasonable Hospitality: The remarkable Power of Giving People More Than They Expect: https://www.amazon.com/Unreasonable-Hospitality-Remarkable-Giving-People/dp/0593418573 Richard Bliss: https://www.linkedin.com/in/bliss Connect with Robert Ribciuc: LinkedIn: https://www.linkedin.com/in/ribciuc/ Email: robert@ebitdacatalyst.com Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mailto:mark@impactpricing.com
“I think every company should be thinking about is create a product-led growth strategy. You don't have to implement it. You don't have to say, "this is how we're going to run our company." But I think if you step back to think about what it would look like if we use product-led growth in our company, you would probably build much better products.” - Mark Stiving What trends will shape the future of pricing? In this episode of Pragmatic Live, Rebecca Kalogeris, VP of marketing for Pragmatic Institute, interviews pricing guru Mark Stiving about pricing trends and predictions for 2023. They discuss: Companies moving toward usage-based pricing What is product-led growth Why net-dollar retention is the single most important KPI The importance of compensation for the sales team that grows customers Pricing and AI Additional Resources: Enroll in the Pragmatic Price course today to learn how to evaluate the competitive and market environment, create effective price segmentation strategies, and implement and measure pricing strategies that support your organization's goals. Is your subscription business stuck in neutral? Shift into high gear with the on-demand course, Accelerate Your Subscription Business. Led by pricing expert Mark Stiving, this course will help you streamline your business for success and give you the clarity and certainty you need to drive growth. Keep Learning About Pricing From Mark Stiving Pricing Case Study: Why Disney Should Charge MORE for Their $6,000 Hotel Room Pricing Case Study: The Housing Market Teaches Why Cost Plus Pricing is a Bad Idea Pricing Case Study: When Will You Unsubscribe to Netflix? Pricing Case Study: Shrinkflation and Why You're Getting Less but Paying More
Mark Stiving is the Founder and Chief Pricing Educator at Impact Pricing LLC, as well as the host of the podcast Impact Pricing and author of the book Selling Value. Today, Mark talks about what value is and how it relates to both buyers and sellers. He digs into how sellers must be keen in determining if a buyer is in a will I or which one buying decision. He defines the different types of values such as inherent value, relative value, and economic value, and says that understanding each is important to sell better from your buyer's perspective. Mark also shares the 4 value-based characteristics that buyers and sellers should look for and the concept that buyers trade off price for value. HIGHLIGHT QUOTES Defining inherent and economic value for a business - Mark: "Inherent value is what's the value of solving the problem? If you're gonna go buy something, I don't care what it is, as a consumer, as a business, if you're gonna go buy something, the reason that you're buying it is that you believe it has more value than the price you have to pay for it." "If we go back to economic value, as a company, I'm only gonna buy something for a hundred thousand if it makes me at least a hundred thousand more in profit, preferably about a million more in profit, but it better be at least a hundred thousand or I'm not gonna spend that." Relative value shows what you can do that your competitor cannot - Mark: "What is the value of my product relative to my competitor's product? What are the things I do differently? What are the problems that I can solve that they can't solve? What's the dollar, the economic value of the problems I can solve that they can't solve?" The difference between WILL I and WHICH ONE decision - Mark: "Typically, when a buyer buys something, we make two different purchase decisions. The first decision we make is, will I buy something in this category? Am I gonna buy a new car? Yes. No. Well, if the answer's no, great. I'm not shopping. As soon as I say yes, then I switch to, well, which one am I gonna go buy?" "And now I'm shopping BMW, Porsche, Lexus, you know, whatever the brands are that I might consider and the styles inside there. So I'm now making a which one decision. When people are making a which one decision, they're very price sensitive. When people are making the will I decision, price isn't driving that decision. Something else is." Find out more about Mark in the links below: LinkedIn: https://www.linkedin.com/in/stiving/ Website: https://impactpricing.com/ Email: mark@impactpricing.com Podcast: https://podcasts.apple.com/us/podcast/impact-pricing/id1449435549 More on Andy: Connect on LinkedIn Get Andy's new book "Sell Without Selling Out" on Amazon Learn more at AndyPaul.com Sponsored by: Revenue.io | Unlock exponential growth with an AI-powered RevOps platform | Revenue.io Scratchpad | The fastest way to update Salesforce, take sales notes, and stay on top of to-dos | Scratchpad.com Blueboard | World's leading experiential rewards & recognition platform | Blueboard.com Explore the Revenue.io Podcast Universe: Sales Enablement Podcast Selling with Purpose Podcast RevOps Podcast
Excellent Executive Coaching: Bringing Your Coaching One Step Closer to Excelling
Mark Stiving has been a pricing practitioner, educator, and advisor for 28 years. His most recent book, Selling Value: How To Win More Deals at Higher Prices, applies his knowledge of pricing and value to help salespeople be more successful. In what situation is pricing essential in the decision process? Your book is called selling value. What does a pricing person know about sales? According to you how should an executive coach determine their value to the client and to the organization? Why do coaches not charge enough? Mark Stiving As a child, Mark wondered why grocery stores priced their products with numbers that ended in 9. In a doctoral program at UC Berkeley, his research answered that question and he has been addicted to understanding how people use prices to make decisions ever since. Mark Stiving has been a pricing practitioner, educator, and advisor for 28 years. His most recent book, Selling Value: How To Win More Deals at Higher Prices, applies his knowledge of pricing and value to help salespeople be more successful. Excellent Executive Coaching Podcast If you have enjoyed this episode, subscribe to our podcast on iTunes. We would love for you to leave a review. The EEC podcasts are sponsored by MKB Excellent Executive Coaching that helps you get from where you are to where you want to be with customized leadership and coaching development programs. MKB Excellent Executive Coaching offers leadership development programs to generate action, learning, and change that is aligned with your authentic self and values. Transform your dreams into reality and invest in yourself by scheduling a discovery session with Dr. Katrina Burrus, MCC to reach your goals. Your host is Dr. Katrina Burrus, MCC, founder and general manager of www.mkbconseil.ch a company specialized in leadership development and executive coaching.
This one is the Ace of Diamonds from the Selling Value card deck. When companies or people inside companies say we sell a commodity, what that says to me is they don't understand the value of what they offer. It may absolutely be true that you sell a commodity-like product where we're selling gold coins and your gold coins are exactly the same as your competitor's gold coins. And we could think of that maybe as a commodity, but then that's really not what we're selling. What we have to sell are all the things that go around the gold coins or go around our commodity-like product. We should be thinking about what are the services? Can we do better delivery? Can we do better payment terms? Can we make our customers trust us more? Can we give them better advice? There are many, many different ways that we might be able to add value to our buyers above and beyond the individual product that we're selling. I often think that when people are saying the words, we sell a commodity or our product is a commodity, they've actually stopped thinking about how they're better than their competition. They've stopped thinking about what their buyers really care about. So, in my mind, there really is no such thing as a commodity and all companies should banish the word. We hope you enjoyed this memecast. This is also an example of how Pricing Table Topics works. Grab a deck of our cards, pull out a random card, read the saying, and then talk for one to two minutes about what that card says. This will improve your understanding and more importantly, your ability to communicate these important concepts. If you have any questions or feedback, please email me mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the Ace of Clubs from the Selling Value card deck. One of my favorite sayings when I'm teaching is, nobody cares about your product. What's fascinating is when you look at a company's website or you look at how somebody wants to talk about what it is they're going to offer you, they want to talk about their product. I so much want to tell you, oh, I'm a pricing expert and I train people on pricing. But that's the product. What we really need to be doing is talking about the problems that our buyers have and the outcomes or the results they might be able to achieve. Experts are able to take our features and say, oh yeah, I get what that means to me. But most of our buyers aren't experts. What we need to be able to do is instead of talking about our product, talk about the problems that our buyers might have. I might go to a VP of sales and say, do your salespeople tend to discount too much too often? Now that's a problem. And if that resonates with this VP of sales, now we have something to talk about. But for me to walk in and say, I'm a pricing expert, and I teach salespeople how to sell value. That's all about me. And it only resonates if that person truly is an expert, and they have the problem. So, I love to say nobody cares about your product. What we have to be doing always is thinking about our buyers' problems and the results they might achieve. We hope you enjoyed this memecast. This is also an example of how Pricing Table Topics works. Grab a deck of our cards, pull out a random card, read the saying, and then talk for one to two minutes about what that card says. This will improve your understanding and more importantly, your ability to communicate these important concepts. If you have any questions or feedback, please email me mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
This one is the Ace of Hearts from the Selling Value card deck. Selling value really does do a lot of things. But if you imagine for a second that a buyer has some expectation of how much value they're going to get from our product. That is a good indicator of their willingness to pay, it's a good indicator of how urgent it is that they want to solve the problem or buy the product. But what if we had the ability to increase the amount of value that person expects to get from our product? For the sake of argument, let's say we 10x it. We make our product really valuable to them. All of a sudden, they're willing to pay more. They want it. They want it now. They want it faster. And so, we're going to increase our average selling price, we're going to shorten the sales cycles. And of course, if they believe we're going to deliver a 10x, they're going to buy from us instead of from our competition. And once we can recognize those buyers who really are going to get a lot of value from our product, then we get better prospects as well. So, it turns out when we can sell value, we really do increase win rates and average selling prices. We hope you enjoyed this memecast. This is also an example of how Pricing Table Topics works. Grab a deck of our cards, pull a random card, read the saying, and then talk for one to two minutes about what the card says. This will improve your understanding and more importantly, your ability to communicate important concepts. If you have any questions or feedback, please email me mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
She Thinks Big - Women Entrepreneurs Doing Good in the World
Many CPAs struggle with pricing. Some have moved to flat rate or subscription pricing, and some still bill by the hour. For CPAs who are used to getting compensated for time and effort, it can be difficult to learn how to see value and to learn how to price accordingly. But if they don't make the transition, they risk underpricing themselves in perpetuity and having to keep working long hours to make up for unearned revenue. To talk with me about this problem is my guest, Mark Stiving. Mark is a pricing educator and advisor, the host of the Impact Pricing podcast and the owner of Impact Pricing, where he teaches clients how to win, keep, and grow customers to drive higher revenue. In Mark's most recent book, Selling Value, he shares his expertise to help companies win more business at higher prices. Highlights: — “Salespeople need to know how people value products.” — “Our buyers buy products because they want to solve problems.” — “The salesperson's job is to help the buyer understand the true amount of value they're going to get from the product.” — “Buyers who don't believe that you understand their problems won't listen to your solutions.” — “If we truly believe that we're going to deliver more value, we should make sure they understand the value before we give them the price.” ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.geraldinecarter.com/subscribe-main-list Connect with MARK: Website: https://impactpricing.com/ LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com Episode mentions: 125 Value and Segmented Pricing for CPAs with Pricing Expert Mark Stiving, PhD https://www.businessstrategyforcpas.com/125 153 A Formula for Quantifying Value with Mark Stiving, PhD https://www.businessstrategyforcpas.com/153 172 Subscription Pricing Strategies with Mark Stiving, PhD https://businessstrategyforcpas.com/172 Mark's book: Selling Value: How to Win More Deals at Higher Prices https://www.amazon.com/gp/product/B09Y8V7FWX/
© 2020-2025 Ivy Podcast Discovery LLC
