Why It's Worth Paying for Pricing Consultants with Dick Sobel

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 mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

10 Juni 20222min

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 mark@impactpricing.com. Now go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

8 Juni 20222min

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: baymagda@gmail.com Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com

6 Juni 202226min

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 mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

3 Juni 20222min

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 mark@impactpricing.com. Now go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

1 Juni 20221min

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: edney@burningissuesconsulting.com; barryedney@gmail.com Website: https://www.burningissuesconsulting.com/ LinkedIn: https://www.linkedin.com/in/barryedney/ Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com

30 Maj 202225min

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 mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

27 Maj 20222min

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 mark@impactpricing.com. Now go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

25 Maj 20221min