Afleveringen
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Steven Forth is Ibbaka’s Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business.
In this episode, Steven explains how AI can significantly enhance software customization and pricing, enabling more precise value delivery for each customer. He emphasizes that while AI introduces new capabilities, it does not fundamentally change the core principles of pricing.
Why you have to check out today’s podcast:
Dive deep into the comparison between AI and the transformative impact of SaaS, providing valuable insights into the future of software pricing and delivery Understand value models and how AI can optimize pricing strategies Explore how AI can enable highly customized software configurations and pricing, making it easier to deliver and capture value tailored to individual customers"Before they invest a lot of time and effort in developing or pricing their own AI, find out what their customers are already doing and how they're thinking about the problems."
- Steven Forth
Topics Covered:
00:47 - Skepticism as well as optimism regarding AI and addressing the hype surrounding AI
04:15 - Exploring how AI might impact software pricing compared to the changes brought about by cloud-based SaaS.
07:05 - The way AI can optimize software configurations and pricing based on individual value drivers for each customer
10:44 - Discussing how SaaS fundamentally changed software pricing compared to AI
14:11 - How AI, while it enhances capabilities and user experiences, does not fundamentally change the underlying principles of pricing
16:31 - What is a value model?
18:15 - Pricing being tied more closely to value with the rise of AI
23:27 - Steven's best pricing advice
Key Takeaways:
"The underlying ways that we think about pricing have not changed because of generative AI and will not change, but some of them we’ll be able to execute on much, much more effectively." - Steven Forth
"I think of pricing not as being something that is data-driven, but something that is model-driven." - Steven Forth
"AI is changing how we build, deliver, and experience the functionality that software and data can bring. But as it does that, it also opens new ways for us to think about the pricing of the applications and the data." - Steven Forth
People/Resources Mentioned:
Pros: https://pros.com Microsoft: https://www.microsoft.com/en-ph/Don Norman: https://www.nngroup.com/people/don-norman/ Jacob Nielsen: https://www.nngroup.com/people/don-norman/ Totogi: https://www.totogi.com McKinsey: https://www.mckinsey.com Tom Nagle: https://www.linkedin.com/in/thomas-tom-nagle-2bb2288/ Zilliant: https://zilliant.com Pricefx: https://www.pricefx.com Vendavo: https://www.vendavo.com Tomasz Tunguz: https://www.linkedin.com/in/tomasztunguz/Connect with Steven Forth:
LinkedIn: https://www.linkedin.com/in/stevenforth/ Email: [email protected]Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on April 11, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/value-for-buyer-personas/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Zijn er afleveringen die ontbreken?
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As a consultant, coach, and 6-time executive, Amanda Northcutt has launched, grown, and scaled online businesses with fantastic results on both the individual and organizational level, while creating extraordinary, frictionless, and successful journeys for their customers.
In this episode, Amanda delves on the importance of focusing on customer retention and expansion to maximize recurring revenue. And leveraging foundational desires and social proof to enhance one's marketing efforts. She also highlights the value of dynamic and continuous pricing strategies and the need for personalized connections in sales and the impact of showing proven value to customers.
Why you have to check out today’s podcast:
Learn to prioritize expansion, not just acquiring and retaining customers, to maximize lifetime value Discover why it's crucial to avoid static pricing and the importance of regularly testing and adjusting your pricing Gain a deep understanding of your customers' core desires and master the art of leveraging social proof to create highly effective marketing strategies"Always be testing your pricing. Your pricing should not be static. That is such a rookie mistake to think that you've nailed it the first time, or at any time really."
- Amanda Northcutt
Topics Covered:
01:39 - An accidental entry into recurring revenue
03:20 - Talking about the time of Salesforce' rise in the SaaS industry
04:46 - Sharing her journey into the subscription-based business model
05:57 - The challenges and importance of marketing and delivering value in subscription-based businesses
08:25 - An added challenge for SaaS businesses of needing a product that continuously delivers value to retain customers
10:46 - The need to create expansion opportunities with tailored solutions and the need to leverage social proof to strengthen the value proposition to potential and existing customers
13:31 - Understanding and leveraging consumer psychology and desires to drive value perception and retention in both B2B and B2C contexts.
15:46 - Expanding on customer's foundational desires as effective marketing strategies
17:21 - Helping customers achieve their goals and meet their needs rather than simply trying to make a sale.
20:06 - Describing her current work and her pricing approach for her clients' customers.
25:52 - Amanda's best pricing advice
26:57 - What it means to be always testing your pricing
Key Takeaways:
"...the whole deal with recurring revenue: If your marketing sucks, one, people aren't going to sign up. Two, if you're not delivering value over and over and over and over and over again, people are going to churn." - Amanda Northcutt
"If you truly actually care about someone and you want to help match them with a solution that is actually going to help them not only reach their foundational desires, but the real business needs that they have, that's where the most sales are going to be made." - Amanda Northcutt
"Desperation is the enemy of all sales, ever." - Amanda Northcutt
"Another element of closing the deal in an automated sales funnel is that guarantee is very, very, very important. It's right up there with social proof." - Amanda Northcutt
People/Resources Mentioned:
Texas A&M University: https://www.tamu.edu/ TexAgs.com: https://texags.com Marc Benioff: https://en.wikipedia.org/wiki/Marc_Benioff Salesforce: https://www.salesforce.com/ap/ Alan Weiss: https://alanweiss.com/about-alan-weiss/ Convertkit: https://convertkit.com Active Campaign: https://www.activecampaign.com/ Amazon Prime Video: https://www.primevideo.com/Connect with Amanda Northcutt:
LinkedIn: https://www.linkedin.com/in/northcuttamanda/ Email: [email protected]Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on April 4, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/discover-our-custom-pricing-gpt/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Sundar Ramanathan is a Banking Product and Pricing Executive with experience in exceeding/meeting growth, capital, liquidity, and profitability objectives through product and pricing levers.
In this episode, Sundar emphasizes the importance of moving beyond product commoditization, instead, focusing on creating value through customer experiences, and pricing as the outcome of value creation.
Why you have to check out today’s podcast:
Discover the fascinating concept of the indifference curve in the context of pricing banking products Learn the art of developing a customer-centric approach to pricing banking products, taking into account essential factors for success Find out how you can implement value pricing strategies, even with commoditized banking products"On the retail banking side, we hear commoditization a lot. But I think there is an opportunity to go beyond that. I think products disappear and experiences emerge, and experience is what creates value. And value can be priced."
- Sundar Ramanathan
Topics Covered:
01:36 - How he found himself in pricing
02:47 - Talking about examples of banking products
04:39 - Is bank's pricing based on value or cost
09:15 - The importance of balancing cost and value and highlighting the indifference curve in pricing
11:55 - Determining the area of indifference in banking pricing
16:06 - How to let borrowers decide in your favor over your competitors
19:37 - Where you create value pricing in banking products
22:06 - Sundar's best pricing advice
Key Takeaways:
"The product structure and pricing might be commoditized, but where you create the value and enhance your pricing margin is the experience." - Sundar Ramanathan
"You will never know the right pricing unless you are bold enough to make those decisions to test that elasticity and have a plan B." - Sundar Ramanathan
"You can only create value by removing the friction as much as possible compared to competition.” - Sundar Ramanathan
"You can never win by pricing." - Sundar Ramanathan
Connect with Sundar Ramanathan:
LinkedIn: https://www.linkedin.com/in/sundar
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on March 28, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/show-me-the-value/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Vivek Anand leads a team of data scientists, statisticians and operations research professionals that apply Data Science and Operations Research techniques to build production ready solutions for problems related to Price Optimization, Inventory Management, and Fulfillment Optimization for a Fortune Fashion retailer.
In this episode, Vivek delves into the strength of combining science and machine learning to make informed pricing decisions. He emphasizes the importance of starting small and continuously enhancing strategies through data-driven approaches. It also explores the differences in B2C and B2B pricing, the impact of AI on supporting salespeople, and the challenges of misaligned incentives in achieving business success.
Why you have to check out today’s podcast:
Understand the need for compensation structures and incentives to align with business objectives that support desired outcomes Discover how AI is impacting the way salespeople handle pricing and negotiation Learn how to leverage both science and machine learning to make more informed pricing decisions"If you're new to the journey, start small. You don't have to go and build a transformer network on day one. Even a simple EDA, Exploratory Data Analysis, can give you a ton of insights than just a guesswork."
- Vivek Anand
Topics Covered:
01:19 - What paved his way into pricing
03:26 - How credit risk and interest risk influence pricing derivatives
04:37 - Thoughts on quantifying risks
05:36 - Data science in relation to AI advancement
07:39 - AI capabilities in capturing contextual and temporal information and other pricing techniques using AI
11:30 - Talking about AI and extrapolation
12:47 - B2C pricing versus B2B pricing and the significant difference in data availability between the two
18:38 - How AI can be utilized in the B2B world to assist salespeople in pricing and negotiation
23:57 - Vivek's one best pricing advice
Key Takeaways:
"B2C is mostly, pricing is a lever to generate demand. Whereas in B2B, it's more of a lever to gauge the willingness to pay from the customer's standpoint.” - Vivek Anand
"I think data science is a big tent, and AI is a part of it." - Vivek Anand
“The way I think about AI is like, instead of making it heuristics, it learns from the data or it just comes up with a mechanism that just translates input to the output, more systemic, faster learning and can be deployed at scale.” - Vivek Anand
Connect with Vivek Anand:
LinkedIn: https://www.linkedin.com/in/va2260/
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on March 21, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/a-value-perception-gap/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Steven Forth is Ibbaka’s Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business.
In this episode, Steven delves into the dynamic world of pricing strategies as revealed through the lens of the Professional Pricing Society event. He talks about the latest developments, innovative practices, and thought-provoking discussions emerging from these events of pricing professionals. From uncovering cutting-edge pricing technologies to dissecting evolving pricing trends that offer valuable insights to help you in navigating the ever-changing landscape of pricing strategies especially where AI is concerned.
Why you have to check out today’s podcast:
Discover what's in store for this year's Professional Pricing Society conferences Find out the significant and engaging topics discussed in the PPS event Look forward to Steven's valuable insights and key points on pricing trends and innovations, particularly in relation to AI"The other problem or challenge, I think, that one can have with AI-based approaches to pricing is the sort of black box nature. And generative AI, gives something of a path forward for that."
- Steven Forth
Topics Covered:
01:46 - Steven highlighting how the Professional Pricing Society [PPS] listens to Impact Pricing podcast
03:29 - Professional Pricing Society's calendar of events this year
04:39 - What's coming up for this year's event: Return of the book store
06:25 - Featured and notable books available at the event
09:54 - Other interesting things coming up for PPS' event
11:28 - Steven's important thoughts on pricing sustainability and some examples on point
15:41 - What differentiates a value model from a sustainability model as far as Ibbaka's concerned
17:26 - What he thinks of these big pricing vendors approach to AI
18:46 - Talking about pricing industry frustration and the black box nature of AI and the shift to generative AI
21:19 - Discussing the application of generative AI in a dynamically configuring software and its implications on the pricing strategies
24:56 - Sharing about the scale and complexity of traditional value model as well as the potential of generative AI to quickly adapt to different pricing and value configurations
28:39 - Watch out for an upcoming webinar on May 23rd
29:08 - What he thinks of people's reception to his presentation at the Professional Pricing Society's conference
Key Takeaways:
"Feel good metrics or social responsibility, none of those things are really going to get people to buy and pay for sustainable solutions. It has to be tied to value, and you have to be able to show that your green solution provides more value than the competing solutions." - Steven Forth
"I think the secret here, at least from a pricing and modeling approach, is to find those variables that get used across the different models. And by having the same variable used in different models you can pull sustainability together with value together with pricing." - Steven Forth
People/Resources Mentioned:
Arnab Sinha Impact Pricing Episode 564: https://impactpricing.com/podcast/564-exploring-game-changing-pricing-dynamics-for-different-industries-with-arnab-sinha/ Game Changer: How Strategic Pricing Shapes Businesses, Markets, and Society by Jean-Manuel Izaret and Arnab Sinha: https://www.amazon.com/Game-Changer-Strategic-Pricing-Business/dp/1394190581 Stephan Liozu Impact Pricing Episode 582: https://impactpricing.com/?s=stephan+liozu Nick Nalepa: https://www.linkedin.com/in/nick-nalepa/ Stop Racing In A Blindfold!: Big Data + Pricing Science Drive Bigger Profits by Jim Vaughn: https://www.amazon.com/Stop-Racing-Blindfold-Pricing-Science/dp/099068380X Michelin: https://www.michelinman.com Hydropoint: https://www.hydropoint.com Vendavo: https://www.vendavo.com Pros: https://pros.com PriceFX: https://www.pricefx.com Totogi: https://www.totogi.com/ Resilience: https://www.bcg.com/publications/2023/resilient-pricing-for-uncertain-worldConnect with Steven Forth:
LinkedIn: https://www.linkedin.com/in/stevenforth/ Email: [email protected]Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on March 14, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/using-value-to-break-down-silos/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Rishi Bhatia is an experienced analytics consultant, data expert and market research professional with domain expertise in retail, technology, telecom, apparel, manufacturing, and insurance domain.
In this episode, Rishi shares about Walmart's lower pricing strategy. He emphasizes the importance of prioritizing the customer when determining pricing strategies. He also highlights the significance of leveraging data and analytics to inform pricing decisions. And also the importance of adopting AI-driven models to streamline operations and remain competitive in the market.
Why you have to check out today’s podcast:
Learn how Walmart maximizes profitability while maintaining its everyday low prices Discover how AI revolutionizes the retail industry by enabling retailers to make informed pricing decisions, rather than just providing pricing insights Explore the impact of retail pricing on customer loyalty and retention"Put your customer first. Rather than going for the traditional route, learn from the data as much as you can. And then, improve your models constantly based on how can you get the prices right."
- Rishi Bhatia
Topics Covered:
01:01 - How he found himself in pricing
02:46 - Why everyday low price policy for Walmart and how do they maximize revenue with this strategy
03:46 - Pricing and how it affects loyalty and retention
05:18 - What makes Walmart's margins high other than lower prices
06:48 - How AI in pricing optimization has evolved from basic insights generation to sophisticated model-driven recommendations
08:41 - Is AI a blackbox and how the process works in achieving pricing decision
11:31 - Walmart's primary focus regarding pricing decisions and how AI ensures timely transitions between product cycles and maintaining profitability
13:47 - How algorithms and recommendations ensures consistency and optimization across the retail chain
14:44 - Discussion around Wendy's dynamic pricing
19:49 - Rishi's response to Mark's advice for retailers and also talking about Walmart Plus
21:15 - Rishi's best pricing advice
23:12 - How do you measure value in retail products
Key Takeaways:
"Value pricing, what does your customer want, at what price your customer will be more loyal to you and what will they... because pricing is one component that everyone wants low price." - Rishi Bhatia
"When you're putting the product, rather than going for the traditional route, learn from the data as much as you can and improve your models constantly based on that, how can you get the prices right." - Rishi Bhatia
"If you're able to improve on that and the customer, your overall complaints are also going down. And that is one value you can measure from that perspective as well. It's not always in the monetary term, it's always on the customer satisfaction side as well." - Rishi Bhatia
People/ Resources Mentioned:
Walmart: https://www.walmart.com Uber: https://www.uber.comConnect with Rishi Bhatia:
LinkedIn: https://www.linkedin.com/in/rishi-bhatia-5480577/
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on March 7, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/to-fee-or-not-to-fee-that-is-the-question/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Stephan Liozu has studied, researched, and practiced value-based pricing for over 15 years now. That includes training, speaking, consulting, managing pilot projects, and coaching large scale pricing transformations.
In this episode, Stephan highlighted the utmost importance of understanding the value delivered to customers before setting prices, emphasizing a value-first approach to pricing strategies.
Why you have to check out today’s podcast:
Learn the significance of focusing on a specific market segment to avoid distractions, streamline operations and increase chances of success Find out why you don't need to excessively customize your products Discover why prioritizing value over price can develop to more effective pricing strategies and maximize profitability"Do the value work first and then worry about pricing. So, value-based pricing is 90% value, 10% price. So, if you want to do that very well, value first, then price."
- Stephan Liozu
Topics Covered:
02:25 - How Stephan started in pricing
04:13 - Customer segmentation as it relates to value pricing
05:25 - Effective ways of maximizing segmentation
07:17 - Defining customer segmentation and how the SaaS scenario Mark described relate to that
10:16 - Integrating value pricing into customer segmentation
13:03 - What value means to the price buyer
14:11 - How is market segmentation different from customer segmentation?
16:52 - Discussing about product segmentation and taking software for an example
21:28 - The challenge of operationalizing customer segmentation
24:57 - Why focus on one market segment
26:41 - The need to not excessively customize your product
27:42 - Stephan's best pricing advice
Key Takeaways:
"Pick one market, focus on it, find your ICP, and then get a few logos; see what happens." - Stephan Liozu
"Do the value work first and then worry about pricing." - Stephan Liozu
"If you want to do that [value-based pricing] very well, value first, then price." - Stephan Liozu
People/Resources Mentioned:
Owens Corning: https://investor.owenscorning.com/ Thales: https://www.thalesgroup.com/enConnect with Stephan Liozu:
LinkedIn: https://www.linkedin.com/in/stephanliozu/
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on February 29, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/your-inward-focus-causes-horrible-decisions/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
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/1119321227Connect with Mike Bosworth:
Linkedin:https://www.linkedin.com/in/mikebosworth/
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on February 22, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/fear-stymies-your-growth/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Joe Woodard's vision is to "transform small businesses through small business advisors." And in the service of that vision he and his team educate, coach, provide resources and build communities for small business advisors, with the overarching goal of empowering them to play a powerful, high-impact advisory role with their clients.
In this episode Joe shares strategies for Infusing feelings and solutions into your pricing models that drive people's buying decisions.
Why you have to check out today’s podcast:
Find out effective strategies for your sales approach Discover effective hiring strategies to find the perfect team and talent that align with your needs Understand two foundational pillars of value to be effective in selling your product or service"Infuse everything we've talked about [sales approach] with feelings and solutions into something the client can consume, easily understand, comprehend, and buy easily."
- Joe Woodard
Topics Covered:
02:51 - From a Quickbooks advisor to hiring and teaching coaches how to coach businesses
05:40 - How this great quote from John Maxwell became a huge inspiration for his upcoming conference
07:28 - Understanding the two foundational pillars of value
09:31 - Methodologies used to maximize product's value proposition
12:06 - Gaining a competitive by catering to both emotional and solution-oriented needs
13:48 - Incorporating emotional intelligence into your sales approach
18:44 - How mimicking good behaviors is effective in selling
19:33 - Understanding the DISC method for hiring people
24:26 - Delegating outcomes, holding individuals accountable using methodologies like OKRs (Objectives and Key Results)
25:58 - Infusing pricing strategies with a combination of emotional resonance
28:47 - Interplay between emotions and problem-solving in both B2B and B2C contexts
30:06 - Joe's best pricing advice
31:51 - What this conference, 'Boldly Go!' is about
Key Takeaways:
"If you're waiting for all risk to go away, you're waiting for all fear to go away, you'll never act. And if you're waiting for perfection, you'll never act. So don't wait on those things. Enter the danger, proceed afraid, fail forward, and then read a lot. That's how I did it." - Joe Woodard
"People will only exchange their hard earned dollars for one of two things, how you make me feel, or how you solve my problem." - Joe Woodard
"It's not about price, it's about nature." - Joe Woodard
People/Resources Mentioned:
John Maxwell: https://www.maxwellleadership.com Michio Kaku: https://en.wikipedia.org/wiki/Michio_Kaku Neil deGrasse Tyson: https://neildegrassetyson.com Malcolm Gladwell: https://www.gladwellbooks.com/ Outliers: https://www.amazon.com/Outliers-Story-Success-Malcolm-Gladwell/dp/0316017930 Positive Intelligence: https://www.amazon.com/s?k=positive+intelligence&language Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs by John Doerr :https://www.amazon.com/Measure-What-Matters-Google-Foundation/dp/0525536221 Axe: https://www.axe.com/us/en/home.html Red Bull: https://www.redbull.com/ph-en/Connect with Joe Woodard:
Website: https://www.woodard.com/ LinkedIn: https://www.linkedin.com/in/quickbooksadvisor/Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
This is an Impact Pricing Blog published on February 15, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/stopping-one-of-your-biggest-revenue-leaks-discounts/
If you have any feedback, definitely send it. You can reach us at [email protected].
Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ -
Steve Laborda is a CEO of Valuebizbooster, Consultant, Coach, Author and Speaker. He is a practitioner in B2B sales and marketing, focusing on improving profitability, how to capture value, and developing the competencies of the commercial people through customer orientation and commercial excellence.
In this episode, Steve delves into the intricate blend of art and science involved in the sales process. He emphasizes the importance of incorporating intangibles alongside hard facts, highlighting that both are essential for success and reaching a deal. Furthermore, he underscores the collaborative efforts of individuals within the company, working cohesively as a team to uphold a value-based approach throughout the entire sales process.
Why you have to check out today’s podcast:
Find out the three essential components to value selling in which without each one no decision is reached Discover how value-based selling works in the whole sales process within the company Uncover the effective use of the ROI calculator as a value driver"Don't forget to work with sales when you do your pricing."
- Steve Laborda
Topics Covered:
01:00 - How he got into pricing
01:30 - The many roles he played
02:41 - Pointing out the 'art' in value, pricing, and selling
04:16 - The intangible benefit other than the emotional, and cognitive aspect of value selling
06:24 - How was his experience different from any other salesperson who's good at building relationships
9:47 - Examples illustrating the three components of the sales process of relationship building, the science part, and the intangibles
11:38 Defining cross-functional value selling
15:04 - Why companies often fail at value-based pricing
17:55 - Calling it a value calculator and not the ROI calculator
20:10 - Why a collaborative way of using the value calculator instead of leaving it to the customer alone
23:36 - Reasons customers likely buy from you
25:35 - Pricing a highly volatile product in the chemical industry
29:23 - Steve's best pricing advice
Key Takeaways:
"Yes, you need to do value quantifications, but you need to be able also to be emotional and to read body language and to read the skills that people have in front of you." - Steve Laborda
"You need to have sales, marketing, pricing, the technical people, if it's a technical context, to have all those people together to develop that value-based approach so that everybody is behind it..." - Steve Laborda
"The value calculator is there for me to give confidence to the salesperson about the price that you can defend to the customer." - Steve Laborda
Connect with Steve Laborda:
LinkedIn:https://www.linkedin.com/in/stevelaborda/
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected] -
This is an Impact Pricing Blog published on February 8, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/proven-value-can-be-a-game-changer/
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Now, go make an impact.
Connect with Mark Stiving:
Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/ - Laat meer zien
