Agile Pricing: Why it Matters, Solving Usage-Based Pricing Challenges with Griff Parry

This one is the 7 of Hearts from the Selling Value card deck. It is true, value propositions really are awesome. Marketing teams, companies, sit around to try to figure out, what's the value proposition of this product? And it turns out that we can often come up with something that's pretty good, pretty general. It essentially is the solution to a problem that most people have, and we think of that as the value proposition. But the thing is, the value proposition isn't specific enough. Anytime you go to an individual customer, or an individual buyer, they've got different problems. Maybe our value proposition caught their attention, got them to come talk to us. But in the end, we need to understand, what are the specific problems that that buyer has? What's the result that that buyer's looking to achieve? And then help them figure out, what's the business case for that? How much value, or additional profit, will they make because they're solving those specific problems? So, I love value propositions. They're just not magic words that are enough to get people to buy. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact.   Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

31 Mar 20232min

This is an Impact Pricing Blog published on February 22, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/lessons-from-the-library/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

29 Mar 20233min

Casey Brown is the President of Boost Pricing, and she has been since 2011. She started her career as a Chemical Engineer at GE, and she's been in pricing for almost 20 years now. Casey loves whitewater kayaking, and she's a big Buckeye fan. In this episode, Casey explains how important it is for sellers to connect with the emotional component of the buyer/s as she shares her knowledge on how to substantially increase your ability to earn higher prices.   Why you have to check out today’s podcast: Learn how crucial the seller’s mindset and beliefs are to the business’ profitability, especially as to whether they’re operating from a place of confidence or fear Find out why you should not put the blame on cost increases when doing a price increase Understand the power of taking into consideration the emotional component, like selling value through the language, mind, and heart of your customer   “I have yet to find, even in this current economic climate, a company that doesn't have some pricing opportunity, and I would just ask everyone to keep looking for it. It's there.”  – Casey Brown   Topics Covered: 01:33 – How Casey got into pricing 04:54 – Mark to Casey: Why don’t I know you? Why have I never seen you before? 07:00 – The biggest problem in sales being the lack of recognition that there’s a problem 09:33 – Is Casey trying to compete with people who are doing sales training and education? Both yes and no 11:33 – An exchange of Mark’s and Casey’s magic formulas in communicating price increases 15:05 – More about blaming costs and cost-plus pricing 18:02 – Teaching salespeople how to properly sell value 20:40 – Convincing Mark that the emotional component is as important in B2B as it is in B2C 29:17 – Casey’s pricing advice 30:08 – Connect with Casey Brown   Key Takeaways: “Our entire profession – we are the best kept secret in business. And frankly, if more people understood how impactful pricing is to the profitability and how easy it is to pull that lever, there'd be a lot more of us.” – Casey Brown “It does not occur to most people that the biggest opportunity to make a huge improvement in your pricing performance very quickly is not necessarily to fix your strategy, but instead to help the team understand the skill set and mindset gaps that your team has.” – Casey Brown “Connecting with the emotional component of the buyer is not just a consumer phenomenon.” – Casey Brown   People / Resources Mentioned: Pricing with Confidence (Reed Holden’s book): https://www.amazon.com/Pricing-Confidence-Leaving-Money-Table/dp/0470197579   Connect with Casey Brown: LinkedIn: https://www.linkedin.com/in/caseybrownboost/ Email: casey@boostpricing.com   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mailto:mark@impactpricing.com

27 Mar 202331min

This one is the 7 of Spades from the Selling Value card deck. It is true that when a buyer's asking for help justifying a purchase, this is the ultimate opportunity to influence that sale. Let's take a step back for just a minute and think about what a customer is going through. And if you ever have the opportunity to help a buyer understand their underlying problems, what's the value of solving those problems, you've become a trusted advisor. You've become someone that this company, this person, looks to for real information so they can make smart decisions. Now, this is a very different decision process than, how is your product better than somebody else's product? Instead, they've brought you in to help create the business case. What a great position. And if we go to the table that I have in the Selling Value book, you'll find that this is the beginning of the trust or the relationship journey. Where they say to you, would you please help me answer, is this a good place for me to spend my money? Is this a good place for my budget? And if we can help them with that, not only have we helped them solve a problem they're trying to solve, but we've built that trust and credibility in their eyes that no competitor could ever catch up to. So absolutely, this is the biggest opportunity you have to influence that sale. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact.   Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

24 Mar 20232min

This is an Impact Pricing Blog published on February 15, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/amc-changes-pricing-finally/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

22 Mar 20233min

This is an Impact Pricing Blog published on February 8, 2023, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/a-price-signaling-example/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

17 Mar 20233min

This one is the 8 of Diamonds from the Selling Value card deck. Let's say that you are in a marketplace where people almost always decide between your product and competitor's products. Gee, could I think of some? How about an automobile, right? You happen to be the Audi dealer and somebody is, somebody just crashed their car and we think they're going to walk into our Audi dealership. In our mind we're thinking, Hey, they're not only looking at us, but they're also looking at BMW or Mercedes or Lexus or Porsche, right? There's lots of different places where they might be go looking at my competitive alternatives. And so as a salesperson, I might be thinking, Ohh, I've got to sell against all of these other problems, or all of these other competitive alternatives. On the other hand, it is very possible that somebody walks into our showroom and isn't going to consider a competitive alternative. They walk into our showroom because somebody told them that we are the best product, we're the best dealership, and they should go buy a product from us. And they're not even going to go look at somebody else. Or maybe they walked into our showroom because they've owned three Audis in the past. They're an Audi loyalist. And they're going to come in and buy another Audi from us because that's what they drive. That's who they identify as.  There are lots of reasons why people might choose to just buy your product. What we want to do is think about, what are those different situations? What are those different mindsets where people might just be looking at our product and not a competitive alternative? And the reason this is so important is because when we can recognize those reasons, we don't have to give big discounts. People are going to buy from us because we solve their problem, not because we're cheaper than a competitor.  We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact.   Connect with Mark Stiving:  Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

15 Mar 20233min