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Impact Pricing

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The Impact Pricing Podcast will help you win more business at higher prices by teaching you about pricing and value.

Once you understand how your buyers perceive the value of your product, you can build, market and sell products that win at higher prices.

Pricing is really about creating, communicating and capturing value. Continue Reading >>
The Impact Pricing Podcast will help you win more business at higher prices by teaching you about pricing and value.

Once you understand how your buyers perceive the value of your product, you can build, market and sell products that win at higher prices.

Pricing is really about creating, communicating and capturing value. << Show Less
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Blogcast #66: How I Think About Pricing This is an Impact Pricing Blog published on June 29, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/how-i-think-about-pricing/ 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/
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Blogcast #66: How I Think About Pricing This is an Impact Pricing Blog published on June 29, 2022, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/how-i-think-about-pricing/ 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/
Memecast #69: Sales Confidence 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 mark@impactpricing.com. Now go make an impact.   Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
3 False Myths About Pricing Debunked with Colin Jasper 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: mark@impactpricing.com
Blogcast #65: Adopt Price Segmentation 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 mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Blogcast #65 Adopt Price Segmentation 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 mark@impactpricing.com.   Now, go make an impact.    Connect with Mark Stiving:  Email: mark@impactpricing.com  LinkedIn: https://www.linkedin.com/in/stiving/
Memecast #68: Perception is Reality 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 mark@impactpricing.com. Now go make an impact.   Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Pricing People as Consultants: Creating and Selling Value in Organizations with Sagar Thakur 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: mark@impactpricing.com
Blogcast #64: Buyer’s Value Journey Map 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 mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Memecast #67: Perceived Value 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 mark@impactpricing.com. Now go make an impact.   Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
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