Impact Pricing

This one's really targeted at marketing people, product management. It turns out that we make fun of salespeople a lot because they offer discounts, they don't know how to sell value. But the question that I would ask is, what have you given them in terms of tools and knowledge and confidence that they can win deals at the prices that we think they should be winning at? We may have gone out and done a ton of analysis in the marketplace, we understand the value of our product, we understand how we compare to the competition, but have we shared that well with our salespeople? In my newest book, Selling Value, I describe something called a value table. And if you've created a value table, it simply documents where the value of your product really comes from. And if you can share that information with your salespeople, it gives them the ability to go look for places where there really is value in the marketplace. And it gives them the ability to have value conversations with their customers and potentially close more deals at the prices that we think they should be winning at. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Colin Jasper has a Bachelor of Science in Statistics. He's been in consulting since 1997 and is currently a Principal at Positive Pricing in Melbourne, Australia. Colin is a competitive bridge player, and was a speaker at the Professional Pricing Society (PPS) this year. In this episode, Colin debunks three pricing myths and explains why these are the complete opposite of what people should be doing in pricing. Why you have to check out today's podcast: Discover three common myths people practice when doing pricing Understand why these false myths and are the complete opposites of what people should be doing in pricing Find out why we shouldn't compete on price and not behave like a commodity "Let's not behave like a commodity. Let's avoid competing on price." – Colin Jasper Topics Covered: 01:29 – How Colin got into pricing 02:31 – Creating huge impact on companies through pricing 03:31 – Billable hours in professional services firms: Perspectives of clients and firms 07:32 – Fixed $500/month vs. hourly fee for bookkeeping 09:31 – Good, better, best in fixed fee vs. hourly + the ultimate purpose of hourly rates 13:02 – Dealing with the uncertainty of projects 14:37 – Competitor pricing as a pricing myth 16:17 – "Aspire to be the most expensive and not be scared of that" 18:04 – Myth: Losing on price means their pricing strategy is wrong 20:26 – Colin's pricing advice 23:13 – Pricing table topics: "Value-based pricing is never perfect. You can't read your customers' mind." Key Takeaways: "From a client perspective, if a client doesn't want hourly rates, that's fine. They've got that. However, from a firm perspective, I think if the firm is going to be client-oriented, they should give the client the fee structure that they want." – Colin Jasper "If your firm is going to put their interests ahead of yours, then you're probably working with the wrong firm in the first place. Because again, if the firm is putting their interests ahead of yours, they don't particularly care. I think the client ultimately chooses fee structure. It's our job to give them the fee structure they want, provided the fee level is high enough." – Colin Jasper "Ultimately, when I come to what I think is we're trying to achieve with pricing, it's coming up with a price that we regard as fair to the firm but is also fair to the client. And I think there are times where the best way to achieve that is through hourly rates." – Colin Jasper "If you honestly aim to be the best firm in the market, your price has to send that message. You should aspire to be the most expensive and not be scared of that. You should own it." – Colin Jasper "If you never lose work based on price, your pricing strategy is flawed. If you never lose work based on price, you're leaving money on the table." – Colin Jasper People / Resources Mentioned: Positive Pricing: https://positivepricing.com/ Ron Baker: https://www.verasage.com/ronald-j-baker/ Connect with Colin Jasper: Website: https://positivepricing.com/ LinkedIn: https://www.linkedin.com/in/colin-jasper-7a401213/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on June 22, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/adopt-price-segmentation/ 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/

I like to run the following thought experiment. Imagine that I'm auctioning off a coffee mug. Auction it off in a classroom, or a keynote room, and maybe I can get people to bid say $15 for my coffee mug. And then when I hand the coffee mug over, I intentionally pull out a $50 bill and show them, hey, this $50 bill was in the coffee mug. Well, why didn't I get paid for that? Because the buyers didn't know that it was there. Their perception was, it was a coffee mug. Now imagine I reach back and I grab a second coffee mug and I auction that one off. Now I might get $40. But what if there is an no $50 bill in this coffee mug? The real point, is that what our buyers believe has everything to do with their willingness to pay. It actually has nothing to do with what's true. Hopefully as marketers, as business people, we try to help clients believe the truth. But if we've built products that are better than our competitors, if we have $50 bills tucked into our coffee mugs and our buyers don't know it, we can't win the deals. We don't get paid for it. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Sagar Thakur is the Business Planning & Pricing Strategy guy at Outreach. He worked in SaaS Monetization Strategy at VMware, and he plays way too many instruments. In this episode, Sagar talks about the challenges and opportunities of a pricing role as he explains why costs don't drive pricing. Why you have to check out today's podcast: Discover the challenges and opportunities of being a pricing person, and why it's challenging but beneficial to have pricing departments as internal consultants Find out what the three-step process is on how to tie value creation and value capture process together Understand why prices aren't based on costs but on value/the customers' willingness to pay "Don't start with pricing. Start with assessing value, quantifying it, understanding it, getting your handle on what value is with a specific feature or product, how it scales, how customers perceive it, where they start, where they end." – Sagar Thakur Topics Covered: 01:07 – How Sagar got into pricing 02:28 – The SaaS monetization strategy work he did in VMware 03:48 – The tradeoff: Organizing product portfolio and applying different price metrics 06:42 – What Sagar thinks are the challenges and opportunities of a pricing job 13:11 – How do we build a pricing culture inside an organization? Is it really a pricing culture or is it a culture of value? 16:00 – Pricing departments as internal consultants 17:59 – Having the perception that price is based on costs 21:09 – Sagar's pricing advice 21:57 – Pricing table topics game: "Costs don't drive pricing. Willingness to pay drives pricing." Key Takeaways: "In general, simplicity is better until you can make sense, but then if the tradeoffs become too steep, now you need to add the complexity as a color from that perspective." – Sagar Thakur "The ability to narrate a story or why is it that we're doing what we're doing and being able to support that, it's completely sort of a social / creative / engagement kind of job versus what most people think as an engineering sort of like analyze and say this is the perfect price. Dirty little secret in pricing is that there is no mathematically correct answer. It's a range of solutions which is possible." – Sagar Thakur "It sort of starts from education, moves to empowering. You can come up with everything on your own. It has to be a collaborative process. And then it's the energized piece, which is like show the organization that this is helping so that we can further attach our pricing perspective to the growth plans of the company and how that helps." – Sagar Thakur "I think rightfully so that pricing is a central piece to the puzzle of any company's sort of growth strategy, like how they do business and what not." – Sagar Thakur People / Resources Mentioned: Outreach: https://www.outreach.io/ VMware: https://www.vmware.com/ Dharmesh Shah: https://www.linkedin.com/in/dharmesh/ Selling Value: https://www.amazon.com/Selling-Value-Deals-Higher-Prices/dp/1737655217 Connect with Sagar Thakur: LinkedIn: https://www.linkedin.com/in/sagar-thakur/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on June 15, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/buyers-value-journey-map/ 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/

We all want our salespeople to sell more value. What does that actually mean though? If we think about it, our customers, whether they be consumers or businesses, they buy value. They exchange money for the value they perceive that they're going to get from our product, however they want to measure that value. Our job as a salesperson needs to be to make sure our customers, our buyers, understand how much value our product might be able to give them because the more value they perceive the more we can charge, the more likely we are to win the deal. Our job as a salesperson selling value then is to increase how much value our customers perceive from our products. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Christine Carragee has been working as Carragee Consulting's Business Consultant for more than six years now. She's done two different stints at the Vendavo – first as their Senior Pricing Consultant then as a Principal Consultant – so she certainly understands pricing. Christine was a Senior Pricing Analyst at Capella University. She lived on three continents before she was four years old. In this episode, Christine explains why it's a must that you consider the segmentation of individuals when doing pricing in higher ed as she shares her pricing journey with Capella University. Why you have to check out today's podcast: Find out how Capella University sets their price to students; Discover how financial aids such as scholarships and loans help you create good quality for the university; and Understand why it's a must that think about the segmentation of individuals when doing pricing in higher ed "A huge portion of higher ed pricing is through the grants and scholarships and loans. And so, what you're initially paying at the time that you're doing your coursework is very different from what the total cost of a program is for you." – Christine Carragee Topics Covered: 01:47 – How Christine got into pricing 03:02 – Learning about airlines from her roommate and the book Hard Landing 05:01 – Trying to put economic value to a university; Segmentation of individuals in higher ed pricing 08:48 – Capella University's two tuition structures; Grants, scholarships, and loans in higher ed pricing 12:54 – What Mark loves about the way they do pricing in higher ed 14:48 – Looking at how competitors do pricing + accepting high achievers and issuing financial aid 17:04 – Christine's pricing advice for the listeners 18:15 – Table topics: "Pricing champions drive pricing change" Key Takeaways: "There's a huge portion of pricing in higher ed that you have to think about the segmentation of the individuals, where they are in their life and then what their personal and professional goals are. There's a big pressure on colleges and universities to provide educations that have a financial ROI. But if you think about the history of university, especially in the U.S., many, many of the universities started as seminary schools or they started as state institutions with land grants, and they were more about having an educated population for a general purpose, involvement in society, and they were not the career track programs that we think of them as today." – Christine Carragee "You can admit people who couldn't afford to come but have very high grades and have those personal statistics that make your institution look better on average by issuing financial aid." – Christine Carragee "That's a self-reinforcing cycle, where once you become established or you have a reputation around having very good quality students, then it's going to attract more people who want to go to school with high achievers." – Christine Carragee People / Resources Mentioned: Vendavo:https://www.vendavo.com/ Hard Landing book:https://www.amazon.com/Hard-Landing-Contest-Profits-Airlines/dp/0812928350 Connect with Christine Carragee: LinkedIn:https://www.linkedin.com/in/christine-carragee-83642b226/ Connect with Mark Stiving: LinkedIn:https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on June 8, 2022, 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/ 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/

Last week, we talked about economic value and how businesses are able to calculate how much money are they going to make or save based on buying and using your product or solution. Sadly, consumers can't do that in almost all situations. I love this one blue shirt I get from Brooks Brothers but there's no way to calculate how much money that shirt makes me or saves me. Instead, it's a feeling I get. It's the fact that I've gotten compliments when I've worn that shirt. So, I have a willingness to pay for that shirt over other shirts. I value it more than I value other shirts. The only way I can think of to measure the amount of value is based on my willingness to pay. And this is true with our clients as well. When we start thinking about how much does a customer or a consumer value our products, we probably need to be thinking in terms of willingness to pay. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Dale Harrison has been consulting in life sciences for seven years now, but he's been an executive in biotech for 16 years. Dale started his career as a physicist. In this episode, Dale shares how he's able to not make biotech products a commodity as he tells us the stories on how he gets inside the minds of both their customers and competitors. Why you have to check out today's podcast: Understand the importance of stepping outside the product and the company when it comes to making a product stand out in the market; Discover why it's a must that you get inside the head of both your buyers and competitors, especially with seeing where your competitors are blind in their framework; Find out how to get inside the mindset of your buyers and competitors through stories of tricks that worked "Pricing has little to do with analysis. Analysis is a supporting role, but only supporting. The real issue with pricing is getting inside the head of the customer, and equally importantly, inside the head of your competitor." – Dale Harrison Topics Covered: 01:02 – Dale's work around commercial development and its relation to pricing 01:45 – Why Mark despises the word commodity + selling products in the synthetic DNA business back in the 2000s 04:28 – Not making the products a commodity by trying to get into the mindset of the buyer 09:25 – More about the story; The "Got Probes" T-shirt 13:01 – Merging the company with a larger partner and becoming the VP of Sales and Marketing 14:10 – Telling the story about getting inside the heads of the competitors 17:08 – Were they able to charge a higher price because of the red cap? 21:14 – The challenge of keeping customers continuing to reorder and focus on you and not be looking elsewhere 24:05 – Dale's pricing advice for the listeners Key Takeaways: "Commodity is a mindset. It's not about the product. It's about a failure of imagination around the product. But there are products that are much more commoditized than others." – Dale Harrison "Again, these are very boring products, so if you talk about the product, no one's going to be interested because everyone already knows it. Nothing's changed and there's literally nothing to talk about. So, you have to talk about something different than the product and then tie it back to the product." – Dale Harrison "The deal is whatever market you're in, every competitor imagines that they have some highly rational pricing process, and the fact is they don't. What they have is a framework – a mental framework – and their framework is their blindness. And if you can understand what their framework is, you understand where they're blind. When you know where they're blind, you know how to work around them without them even seeing you." – Dale Harrison Connect with Dale Harrison: LinkedIn:https://www.linkedin.com/in/dalewharrison/ 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 June 1, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-power-of-economic-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/

It's true, every time we buy something, we buy it because we think we get more value than the price it's going to cost us. It's kind of hard for us as consumers to say how much is that value, and we think of that in terms of dollars. But in a corporate setting, how much they value something can almost always be decided by how much money do they think they're going to make or save because they're buying our product or our solution. That amount of money they're going to make or save is called economic value. If we learn how to interpret our features and our benefits into our clients' economic value, and especially if we can learn to help them turn it into economic value, it will become much, much easier for us to close deals and understand why our customers are buying or not buying in the first place. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Christopher Uthe is the Director of Product Management at Ocelot, where he champions scalable day-to-day organizational changes to transform it to a product-driven company. He's been working in the education market since 2006, both for an educational institution and for companies that sell education. Chris started his first business at the age of 16. In this episode, Chris explains how pricing works in institutions of higher education as he discusses the factors that make pricing difficult in that field. Why you have to check out today's podcast: Find out how to find value if you can't get a good and apt pricing metric Understand how pricing in higher educational institutions work, as well as the thing that makes it difficult Discover why higher education should be more focused on B2C pricing than on B2B "It's so hard to bundle and discount correctly, that most of the time, that's not being done right." – Chris Uthe Topics Covered: 01:28 – The story behind Chris' interest in pricing 02:15 – Pricing and purchasing decisions in higher education 04:37 – What institutions of higher education value: The thing that makes pricing in higher education difficult 08:18 – U.S. News and World Report as a metric: The intrinsic value of one's degree and/or university 11:15 – In B2C vs. in B2B pricing: Where should institutions of higher education be? 14:17 – Talking about RFPs: How it leads us to lose sight of the possibility of a better and smarter solution 19:42 – Chris' pricing advice for the listeners 21:45 – Connect with Chris Uthe Key Takeaways: "It's so difficult to come at these purchasing decisions, saying, 'Okay, we have to do only what's best for the student here,' because you've got so many competing priorities that are sort of odd for the market." – Chris Uthe "Some would tell you that they don't care. There are a sad few that would tell you they might care a little bit about profit because they do have to pay the bills, still. Not all of them are living on generous endowments, unfortunately, or fortunately, depending on how you look at it. They care about, hopefully, students' success at the end of the day. They want to talk to you about placement rate. They want to talk to you about probably job acceptance rate. They want to talk to you about average salary coming out of school." – Chris Uthe "Some of the value – the unspoken value – of your degree or just going to an institution comes from all the doors that it opens for having it on your resume." – Chris Uthe "It almost always starts with a very altruistic need, which I think is amazing in higher ed, because our students aren't getting the help they need at the right time, for instance, or these students aren't able to log into the learning management system and do something meaningful at the right time or they don't know how to do it, they can't get it done. It starts very altruistic, which is one of my favorite parts of higher education, because it does usually come back to making the student more successful." – Chris Uthe People / Resources Mentioned: Ocelot: https://www.ocelotbot.com/ CARES Act: https://www.congress.gov/bill/116th-congress/house-bill/748 Connect with Chris Uthe: LinkedIn:https://www.linkedin.com/in/chrisuthe/ 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 May 25, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/are-iphone-users-not-price-sensitive/ 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/

Oftentimes, salespeople are selling to a committee of people who have to make a big decision. Once they've made the decision, they typically say, hey, we want to go with this vendor, and then they submit it to purchasing or procurement. At that point in time, procurement pretends to be price sensitive, pretends that there's multiple different competitors involved. But if we can recognize that we've already been chosen, then we don't have to compete hard on price. This happens often, especially if we're going to be selling to a committee who has to make a decision. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Ayon Bhattacharyya is the Founder of Biz Growth Spurt, a consulting firm based out of New Zealand. He has experienced pricing in half a dozen companies, and he's a passionate animal welfare advocate. In this episode, Ayon discusses pricing power as he enumerates its four different levels while talking about value-based pricing. Why you have to check out today's podcast: Understand how pricing power relates to price elasticity Find out what Ayon's four different levels of pricing power are all about Discover how Mark's will I? which one? concept relates to these levels "Think about your pricing power, and think about how – whether it's sort of competitive advantage, perceived value, all of those things – what can you do differently to improve your pricing power today." – Ayon Bhattacharyya Topics Covered: 01:18 – How Ayon got into pricing 02:33 – Defining value-based pricing and relating it to airline pricing 05:57 – Pricing power vs. price elasticity 09:50 – Ayon's four different levels of pricing power 13:33 – Describing the levels: (1) Cost chaser 15:04 – Describing the levels: (2) Market pricer 15:46 – Describing the levels: (3) Value conqueror 18:16 – Doing behavioral economics at a cost chaser level 19:09 – Applying Mark's "will I? which one?" concept to Ayon's levels of pricing power 22:19 – Talking about value-based and fixed pricing 25:26 – Ayon's piece of pricing advice for the listeners Key Takeaways: "Pricing power is essentially your ability to charge a higher price without losing customers. Another way to say that is a company's ability to get the price it deserves for the value it delivers." – Ayon Bhattacharyya "A maturity suggests that you need to get there over a period of time; you grow into it. It can't be something that you just start out with that, at level three. But that's not what I'm trying to say here. You can actually start out and you can be an early-staged business and you can start out as a value conqueror. You don't need to progress from level one to get to level three. You can start at level three." – Ayon Bhattacharyya "There are some businesses that can just start at a higher level, but I think generally, it is a journey. I think of pricing strategy as a journey, not just an outcome." – Ayon Bhattacharyya People / Resources Mentioned: Biz Growth Spurt: https://bizgrowthspurt.com/ Stephan Liozu and his book: The Pricing Journey Connect with Ayon Bhattacharyya: Website: https://bizgrowthspurt.com/ LinkedIn: https://nz.linkedin.com/in/ayonb 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 May 18, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/how-much-does-a-buyer-value-your-product/ 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/

You probably know that when we're negotiating, we do gifts and gets. We don't give anything unless we get something in return. Purchasing people are always asking us for discounts and sometimes we have to give in. We give a discount to a client or a customer. What should we get in return? Well, we should be thinking first about the things that are hard costs for us to serve our clients. For example, maybe there's a shipping cost. Maybe it's a warranty cost. But there are things that are truly that cost us money and if we can get those as clawbacks, as our gets when we give something, then we're actually giving up a lower margin. Many people call this pocket price. So, pocket price is, what's the price after I've looked at what are my costs to serve that individual customer. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now, go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Daniel Elizalde was an IoT Product Manager Instructor at Stanford University. He used to work as the VP Head of IoT at Ericsson, but he has now narrowed his focus from IoT to climate tech firms. Daniel now helps climate tech product teams accelerate their product's time to the market. In this episode, Daniel talks about his book, The B2B Innovator's Map, as he explains why delivering value to your champion is a huge game-changer in the business world. Why you have to check out today's podcast: Discover what the book The B2B Innovator's Map is all about; Understand why you, as a vendor, should understand what value means both to your company and to your customers; and Find out why you should look for champions and not for buyers, especially when you're still starting in doing business "When you are testing a potential solution, pricing has to be one of those things that you have to prototype. You have to prototype the packaging and the offering and how you actually present it to the customer." – Daniel Elizalde Topics Covered: 01:55 – A Narrower Focus: Daniel shares the backstory on how he's decided to shift his focus from IoT to climate tech firms 04:11 – Daniel talks about the benefits of running his own consulting practice 06:18 – Helping other people, still, in the space of IoT 07:41 – Why Daniel wrote his book, The B2B Innovator's Map 09:46 – The difference between B2B and B2C in terms of the way people do innovation + the content of Daniel's book 14:35 – Relating Mark's Selling Value book to Daniel's B2B Innovator's Map 18:51 – Understanding the strongest problems that your customers have as one of the main points in the book 21:50 – Looking for a champion, not a buyer persona + the goal of innovation 28:36 – Daniel's piece of pricing advice for the listeners Key Takeaways: "For an actual advisory project where I'm involved at the strategic level, I'm going to give priority to the climate tech companies, but that doesn't mean that there are no other avenues where people can get access to some of my experience." – Daniel Elizalde "In my experience, a lot of the B2B products fail because they don't deliver value to their customers, like, customers don't see the benefit, they don't want to buy it, so they've failed. Value has to be delivered throughout, and so, therefore, value plays an immense part throughout the journey." – Daniel Elizalde "Granted, as a vendor, your own solution is not going to be the fix for the whole problem, and you're part of the whole puzzle. But as a vendor, you have to understand what are those pains, what are those problems that your customers are having, because that's where the opportunity to deliver value lies." – Daniel Elizalde "The value needs to be big for a big problem so that you can get a solution in the door." – Daniel Elizalde "It's not about the users at this point. It's about delivering value to the champion because ultimately, that's the person that's going to open the door for you." – Daniel Elizalde People / Resources Mentioned: The B2B Innovator's Map: https://danielelizalde.com/b2b-innovators-map/ Ericsson: https://www.ericsson.com/ Selling Value: https://www.amazon.com/Selling-Value-Deals-Higher-Prices/dp/1737655217/ Crossing the Chasm: https://www.amazon.com/Crossing-Chasm-3rd-Disruptive-Mainstream/dp/0062292986 Connect with Daniel Elizalde: LinkedIn:https://www.linkedin.com/in/danielelizalde/ Website:https://danielelizalde.com/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on May 11, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/data-and-or-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/

If buyers are asking us for a business case, or help to write their own business case, what they're trying to do is document economic value. How much money is our product going to make or save their company? Well, this is awesome because what we want to do is help our buyers understand value. This is the exact best situation that we could possibly be in. So, what we as salespeople should be doing is understanding, how is it that our buyers get value from our products? And I can tell you it's not our features. And in fact, it's probably benefits, but it's benefits translated into, first, what's the problem we're solving for the customer? What's the expected result the customer might get? And finally, how do we turn that into dollars for that individual customer? When you've mastered this skill, and you can talk like this constantly, you will definitely win more deals at higher prices. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

EPIC Conjoint's CEO Matt Johnston and CTO Pavel Knorr help companies win by enabling game changing product and pricing decisions. At EPIC Conjoint, experts combine their deep domain knowledge with innovative research platforms. With this, they enable clients to better understand their customer's preferences so they can make precise product and pricing decisions at great speed. In this episode, Mark engages in a conversation about conjoint with EPIC Conjoint leaders, Matt and Pavel. Why you have to check out today's podcast: Learn the importance of running market segmentation studies and figuring out what people's price sensitivity is to know which groups are becoming more price sensitive Find out why you should understand the challenges your target market is facing and react accordingly to that to be of help instead of going for your typical pricing mechanics Understand why you should be realistic in the way you do your design "If you're addressing the question 'what is the proper price right now?' and 'what is the proper price three months after?' you have to properly specify the price intervals for that, and you have to deal with – specifically in conjoint – you have to deal with the realistic market situation. – Pavel Knorr Topics Covered: 01:25 – The backstory of how Pavel got into pricing 02:49 – Going back to the story on how and why EPIC Conjoint came to exist 05:56 – Talking about EPIC Conjoint's project which Mark got involved with 09:56 – The global economy, recession, and its impact on people's purchase decisions 17:08 – The challenge that arises when inflation rises but incomes do not 21:40 – Making decisions in the midst of supply constraints 29:50 – What Mark loves about what Conjoint does + the beauty of Conjoint 31:59 – Pavel's piece of pricing advice for today's listeners 33:39 – Connect with Matt, Pavel, and EPIC Conjoint Key Takeaways: "When you have product development background, for you, it's actually quite important when you want to come up with the product line up, when you're doing the product optimization, because it's fine to get the product which shows the overall quite good results with the aggregated view. However, in the reality, it might end up with the case when you have build the product that platform suggested to be the best aggregate of products in the market, however, nobody really needs it because all your market is several subgroups of the niche customers." – Pavel Knorr "We believe most people make purchases based on their needs. And what we've seen in the work we've done with clients is that needs can dictate different willingness to pay under different price sensitivities." – Matt Johnston "Conjoint is the good tool to compare yourself against the competitors, but it's not performing well when it's considering buy or no buy at all. All the magic behind the conjoint is something like 50% of success, because if you collect the bad data or from wrong people, you will have nothing as the output; nothing useful for you as the output." – Pavel Knorr People / Resources Mentioned: EPIC Conjoint:https://www.epicconjoint.com/ O2:https://www.o2.co.uk/ Telefónica: https://www.telefonica.com/ URIDU: https://www.uridu.org/ BMW: https://www.bmw.com/ Hyundai: https://www.hyundai.com/worldwide/ Audi: https://www.audi.com/ Connect with Matt Johnston: Website:https://www.epicconjoint.com/ LinkedIn:https://www.linkedin.com/in/matt-johnston-5a53672 Email: [email protected] Connect with Pavel Knorr: Website:https://www.epicconjoint.com/ LinkedIn:https://www.linkedin.com/in/pavel-knorr/ 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 May 4, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/taking-the-ambiguity-out-of-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/

Behavioral economics are fun. These are those tactics, the things that we see where our buyers are behaving irrationally, and yet we know they're irrational and we can take advantage of it. In fact, my dissertation in my doctoral program was on 99 cents, and why does 99 cents work, and it's because buyers tend to be irrational. We should think of each penny or each dollar is identical, but we don't. The thing is, although these behavioral economics tactics work, and we really should be paying attention to them because we want to present our pricing in the best light possible, it's only marginally effective. We need to get the value part right. If we don't get the value part right, it doesn't matter how we use our behavioral economics. Now, to be fair, you can get the value part right and totally mess up a deal with horrible behavioral economics. So, both are important. But you absolutely have to understand value and get that right if you expect to win more deals at higher price. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Magdalena Bay has been working in business development for eight years now. She is an expert in the MVNO market, but outside of work, she loves spending time with her kids and showing her golden retrievers at dog shows. In this episode, Magda educates us on how Mobile Virtual Network Operators (MVNOs) work, especially with how Mobile Network Operators (MNOs) and MVNOs price their offers. Why you have to check out today's podcast: Learn what the MNO and MVNO are all about; Understand how MNOs and MVNOs provide value to their customers; and Find out how pricing works in the MVNO market "You need to give time to your customers so they can adjust to the new models you are trying to introduce. And maybe, sometimes, the strategy that you're implementing won't work in the beginning, but if you just wait little by little, then it can bring the results." – Magdalena Bay Topics Covered: 01:45 – How Magda got into pricing 02:10 – Learning how Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs) work 07:21 – Why pricing in the MVNO market is interesting 09:27 – Sample scenarios of how MVNO provides value to customers 11:34 – How pricing in MVNO works 14:26 – What it means to play on a breakage when you're in the MVNO market 16:20 – Magda asks Mark: "How do you approach your consulting when you're in a totally new industry for you?" 18:18 – Does Mark have plans of getting experience from other countries and industries? 23:14 – Magda's piece of pricing advice for the listeners Key Takeaways: "Pricing here is extremely difficult, in the sense that obviously, some of the customers wants to have everything the cheapest possible way. And in this setup, the infrastructure and building, everything cost your investment. You have to get your return on this investment. And as you mentioned before, MVNOs are always competing with these big boys, with MNOs, so this is almost impossible to be on the same pricing level." – Magdalena Bay "Assuming that you would get also unlimited plans from the MNO, you are very limited on how much you can earn, because you are only limited to this, let's say, two zloty per bundle or two euro per bundle – just any number I'm saying now – and you can't grow on this, if you know what I mean." – Magdalena Bay People / Resources Mentioned: AT&T: https://www.att.com/ Verizon: https://www.verizon.com/ Orange: https://www.orange.com/ T-Mobile: https://www.t-mobile.com/ Free: https://www.free.fr/ Teleco: https://www.teleco.com.br/ Affinity Cellular: https://www.affinitycellular.com/ Airvoice Wireless: https://www.airvoicewireless.com/ Assist Wireless: https://www.assistwireless.com/ Beast Mobile: https://beastmobile.net/ Connect with Magdalena Bay: LinkedIn:https://www.linkedin.com/in/magdalenabay/ 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 27, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-value-of-selling-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/

Your marketing department, your product managers, somebody in your company has probably created value propositions for your products. And I love these. These are great because hopefully we've taken the time to think about the average customer, the generic customer, what's the real problem they're trying to solve. The key for us though, if we're thinking about selling to individual buyers, is each buyer has a different set of problems. Each buyer is looking for a different set of results. What we want to be able to do is understand those value propositions and then query with the buyer where do they really feel the pain, what are the things this buyer is trying to get accomplished? And a great salesperson is able to take the individual customers, or buyers, problems and translate that into perceived value in their minds. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Barry Edney started his pricing career in Sposea, a digital pricing and consultancy company aiming to drive profitability by simplifying price data optimization, management and execution. It was in May 2021 when he started his own consulting firm called Burning Issues Consulting, where they help businesses deliver better top-line and margin results by focusing on where change needs to happen quickly – the burning issues. In this episode, Barry talks about the importance of knowing the right questions to ask the right people so you can sell value the way your customers need it in their business. Why you have to check out today's podcast: The importance of asking the right people the right questions in order to know what your clients really value; Why you should focus on value selling and avoid benefit selling; Why it's a must for you to make sure that what you're selling are the products that are giving you the big margin "Focus on the margin drivers. If you have to be really cautious on your costs, focus on your products that generate your highest margin, and manage the rest of your portfolio for cash." – Barry Edney Topics Covered: 01:00 – How Barry got into pricing 03:21 – Considering the cost to serve in relation to delivering value 04:18 – One product, different audiences, and different levels of value 06:44 – Perceived value vs. intrinsic value 08:05 – Not knowing what your customers really value + asking the right questions 13:40 – Examples of open-ended questions 15:31 – Why you should avoid benefit selling 17:48 – Creating, communicating, and capturing value: Thinking about solving problems vs. building features 22:26 – Barry's piece of pricing advice for the listeners Key Takeaways: "When you start measuring the value that you deliver, it is so much easier to articulate it to your clients." – Barry Edney "The value has to be presented in a different way. There has to be a different value or a different aspect of the value you can deliver." – Barry Edney People / Resources Mentioned: Sposea: https://www.sposea.com/ Burning Issues Pricing Consulting: https://www.burningissuesconsulting.com/ AkzoNobel: https://www.akzonobel.com/ Connect with Barry Edney: Email: [email protected]; [email protected] Website: https://www.burningissuesconsulting.com/ LinkedIn: https://www.linkedin.com/in/barryedney/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on April 13, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/dont-forget-the-customer/ 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/

Value-based pricing really is impossible to do perfectly. In order to do value-based pricing perfectly, I would have to be able to read every customer's mind. I have to determine how much a customer is willing to pay for our product. And it's impossible to do that. However, there are techniques and tactics that we can constantly use to get better and better. We can use techniques to help buyers understand more of our value, which will increase their willingness to pay. As we start focusing our entire pricing strategy, and then we can shift our selling strategy to creating and capturing as much value in the buyer's mind, this is how we're going to win more deals at higher prices. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Stéphane Joanis started his career as a Chemical Engineer. It is with Thermo Fisher that he got involved in business and pricing, and just this January, Stephane launched his own consulting business which he calls SJ Performance, LLC. This is where he practices his expertise in B2B Instrumentation Pricing as he and his team provides coaching to help you build a strong pricing culture in a way that provides confidence and leads to trust. In this episode, Stéphane educates us on the importance of achieving organizational transformation in a company as you value the trust in the relationship you have with your customers. Why you have to check out today's podcast: The importance of having people from different functional groups to talk about and practice value-based pricing and keep each other in check How the creation of strategies that inspire trust with your customers help your sales velocity to go up The power organizational transformation has in shifting from conventional pricing practices to having a value-based mindset in pricing "The data is a means to the answer, towards getting insights. But it's a foundation. Only data can trump politics. So, I think it's important to get your data and extract value from that data. Out of the specifications, go and get what is that value to your customer." – Stéphane Joanis Topics Covered: 01:40 – How Stephane got into pricing; the importance of trust 03:32 – On building trust: Attack the processes, not the people 05:55 – Starting his business to guide people towards organizational transformation 06:28 – What organizational transformation is all about 08:56 – The trick to see something as a loss vs. as a gain 11:13 – How to help people have a value-based mindset: Specification language vs. value language 14:00 – Talking to customers and splitting up win-loss 16:07 – Formula of sales velocity and how that relates to trust 19:31 – "I will raise your price to the extent that I'm not breaking your trust" 23:12 – Intuitive/statistical hearing as a way to talk to customers 25:01 – Stéphane's pricing advice Key Takeaways: "Everybody has a different point of view. There's so much psychology behind it. As you pointed out, there's a trust element. We have to agree to disagree. We have to have a certain level of trust, because everybody has a different objective with price. And so, how do you get everybody together, and how do you get prices aligned between them? It requires a certain level of trust if you want to do it well." – Stéphane Joanis "That's the key to organizational transformation. It's not just about a process; it's about the people as well." – Stéphane Joanis "You have to show what the customer is losing for them to truly appreciate what you have to offer and the value of your product and service." – Stéphane Joanis "There's a price to trust." – Stéphane Joanis People / Resources Mentioned: SJ Performance, LLC: https://sjperformancecoach.com/ Pricing with Confidence: 10 Ways to Stop Leaving Money on the Table: https://www.amazon.com/Pricing-Confidence-Leaving-Money-Table/dp/0470197579 SPIN Selling by Neil Rackham: https://www.amazon.com/SPIN-Selling-Neil-Rackham/dp/0070511136 Selling Value by Mark Stiving: https://www.amazon.com/Selling-Value-Deals-Higher-Prices/dp/1737655217 The Speed of Trust by Stephen Covey: https://www.speedoftrust.com/#the-book Data and/or Value (blog): https://impactpricing.com/blog/data-and-or-value/ Focus on insights and not data (blog): https://www.sjperformancecoach.com/blog/focus-on-insights-and-not-data Connect with Stéphane Joanis: Website:https://sjperformancecoach.com/ LinkedIn:https://www.linkedin.com/in/st%C3%A9phane-joanis-6509921a/ 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 6, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/best-example-for-costs-dont-drive-pricing/ 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/

It's true, value-based pricing is the optimal pricing strategy. Value-based pricing simply means charge what our customers are willing to pay. If a customer is willing to pay us a hundred dollars, the best we could possibly do as a company is to charge that customer a hundred dollars. If we charge less, we left money on the table. If we charge more, the customer doesn't buy. So, it's impossible to do better than value-based pricing. Now, I'll agree, it's impossible to do value-based pricing perfectly, which we'll talk about next week. But understand, adopt the mindset of how is it that we can always focus on how much our customer is willing to pay, how much value our customer is receiving, and that's the absolute best we can do at setting and trying to capture pricing. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Ed Arnold works as an Advisor at Ibbaka, a software provider for high growth companies that helps optimize planning and execution of key growth initiatives while improving company performance. He was the VP of Products at LeveragePoint for 10 years, and was able to work with the pricing legend, Tom Nagle. In this episode, Ed talks about the future of value-based pricing in the subscription economy as he discusses how product-led growth companies achieve their initial growth which later on leads to big wins. Why you have to check out today's podcast: Understand why pricing in value is the key in very clever segmentation in terms of creating user profiles in the market; Find out how product-led growth companies grow from being a small enterprise to being loved by a bigger market Discover companies that are product-led growth businesses and realize how much they've grown since day one "Understand how your customer gets value from using your product, not from buying it; not in terms of what the product offering is in terms of features, but how they actually use it." – Ed Arnold Topics Covered: 01:03 – Who is Tom Nagle? 01:41 – How Ed got into pricing + creating a tool and working with Tom Nagle 03:07 – Explaining what LeveragePoint is 03:50 – Future of value-based pricing in subscription: Value as a differentiator in the market 07:11 – Buying vs. negotiating a price: Knowing what you're after 11:43 – Product-led growth practice as a brilliant strategy for business 13:55 – What Ed and everybody else likes about PLG – instant gratification 17:43 – Life-changing benefits of Slack 19:15 – Aligning pricing metrics 21:34 – Why usage-based pricing frustrates Mark 23:41 – Changing and having more than one pricing metric 27:13 – Ed's piece of pricing advice for the listeners 28:06 – What Ed thinks about behavioral economics Key Takeaways: "If you're thinking about what sort of animal you're hunting in the enterprise game, those are the whales. I think value is the only way you can differentiate yourself in the enterprise market." – Ed Arnold "No corporate buyer ever heard of Slack until thousands of people in their company were already using it. So, in a sense, the business employee is a consumer, and that's how product-led growth companies are getting that initial growth. They're making it so ridiculously easy for people to start using it before the corporate procurement folks or even IT departments have any idea that they're using it. That's what makes that model so, so attractive for investors." – Ed Arnold "We like to talk about three types of metrics. And you got to link those three together. Ideally, if you can link those three together, you're in Nirvana, because your price is aligned with value and it's aligned with usage and everything is great." – Ed Arnold "When it's the right thing to do, and it makes sense, it does pay dividends. But it's tough. And I think it's really a leap of faith and doing it." – Ed Arnold People / Resources Mentioned: Ibbaka: https://www.ibbaka.com/ The Strategy and Tactics of Pricing by Tom Nagle: https://www.amazon.com/gp/product/1138737518/ref=dbs_a_def_rwt_hsch_vapi_tpbk_p1_i0 Monitor: https://www2.deloitte.com/global/ LeveragePoint: https://www.leveragepoint.com/ Salesforce: https://www.salesforce.com/ Slack: https://www.slack.com/ Calendly: https://calendly.com/ Zoom: https://www.zoom.us/ Connect with Ed Arnold: Email: [email protected] LinkedIn: https://www.linkedin.com/in/edarnold1/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on March 30, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/shrinkflation-the-hidden-price-increase/ 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/

Boy, there's no way I can completely explain this impactful insight in a brief conversation. But understand, if we can get our salespeople to shift from talking about our features and pushing our products to instead selling the value of our products to our marketplace, our salespeople learn to talk about the problems that we're going to solve, the results that our buyers are going to expect to achieve, this does magic in terms of the sales cycle and the end of the sale. Because when we truly resonate with our buyers and their problems and hoped for results, we're going to win more deals. We're probably going to win more deals even at higher prices, which is the key point. And if buyers are truly comfortable, they'll make decisions faster, shortening our sales cycle, and once we learn to think this way, we can look for buyers who have those problems. Selling value seems to be this magic elixir to driving up ASP's, revenue, and profit. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/

Orvel Ray Wilson is co-author of the book, "Guerilla Selling", and five other books in the "Guerilla Marketing" series, the best-selling marketing series in history. He is a Certified Speaking Professional, a coach to those who want to build their practice as an author, a speaker, and a thought leader. Through The Guerilla Group, he helps professionals build and grow their business by focusing on writing, stagecraft, and marketing. Orvel Ray is Mark Stiving's personal business coach. In this episode, Mark and Orvel Ray talk about the former's newly released book, Selling Value, as they both share stories in all ways connected to his account. Why you have to check out today's podcast: Learn about the importance of translating what matters to your customer into something of real value, like measurable dollars Discover what the book, Selling Value, is trying to show salespeople Find out how the Guerilla series was able to move a lot of people, including product managers, product marketing, and other VAs "If you're closing more than about 70% of your opportunities, you're not charging enough." – Orvel Ray Wilson Topics Covered: 01:55 – The story of how Mark and Orvel Ray met 02:40 – Working with Mark for his book, Selling Value: Taking note of what's important to your customers 06:19 – What the book is showing salespeople how to do + how the 'Will I? In which one?' concept came to exist 10:03 – Orvel Ray's friend, Jordan, who was able to close an $85,000 deal as he learns from Mark's book 14:59 – Why should salespeople and pricing people care about selling value? 18:14 – Send Orvel Ray a message and get one free hour of free consultation on how to become a speaker and/or an author. 19:20 – Orvel Ray's piece of pricing advice 21:43 – What anchoring is all about Key Takeaways: "Salespeople need to understand how this really works, not only to convey and do the math and show them that this is a good investment, but to do that in terms that are important to them." – Orvel Ray Wilson "I might have 100 good reasons why you should buy my product, but your decision is going to hinge on the three or four reasons that you think are important. And if you can isolate what those are and sell to those, then two things happen – one, the sales process is a lot simpler, and your offering is going to be irresistible." – Orvel Ray Wilson, Guerilla Selling "Many times, we fail, we lose the sale, not because our product isn't a good fit, or because we don't have superior technology, or aggressive pricing, but simply because we haven't got the customer to make the 'will I?' decision in the first place." – Orvel Ray Wilson "Just putting this technology in the hands of your sales team is going to make an immediate and measurable impact, as I've already said, and certainly more so than any other sales book I've read recently; and I've read them all." – Orvel Ray Wilson "Build value, include everything, load up the table like it's Thanksgiving dinner, and then if you have to talk about reducing your fees, you can take things off the table and still defend your value." – Orvel Ray Wilson People / Resources Mentioned: Selling Value: https://www.amazon.com/Selling-Value-Deals-Higher-Prices/dp/1737655217/ Houghton Mifflin:https://www.hmhco.com/ Guerilla Selling: https://www.amazon.com/Guerrilla-Selling-Unconventional-Weapons-Increasing/dp/0395578205/ Impact Pricing: https://www.amazon.com/Impact-Pricing-Blueprint-Driving-Profits/dp/1483489701/ Patricia Fripp: https://www.youtube.com/user/PatriciaFripp Connect with Orvel Ray Wilson: LinkedIn: https://www.linkedin.com/in/orvelray/ Email: [email protected] Website: https://guerrillagroup.com/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]

This is an Impact Pricing Blog published on April 20, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/selling-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/

It's absolutely true, people don't buy products, they buy solutions to problems. When we talk about our products, when we talk about our features, that doesn't truly resonate in the minds of our buyers. Instead, what we need to be doing is talking about the problems that we're going to solve as well as the results a buyer might achieve. When we can capture their attention, recognizing the fact that they have a problem and getting them to agree that they have that problem, and then describing the results they might be able to achieve by solving that problem, now we're getting their attention. These are things they can truly value. And by the way, maybe we're solving more problems than they originally thought they were when they were looking for a product like ours. When we truly understand problems and results for our marketplace, and we can talk to our customers that way, our customers then perceive a lot more value, which means we can win these deals at higher prices. And that's really the whole point. We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected]. Now go make an impact. Connect with Mark Stiving: Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/