Impact Pricing Mark Stiving, Ph.D.

This is an Impact Pricing Blog published on March 7, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/to-fee-or-not-to-fee-that-is-the-question/
If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. 
Now, go make an impact.
 
Connect with Mark Stiving:
Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

Stephan Liozu has studied, researched, and practiced value-based pricing for over 15 years now. That includes training, speaking, consulting, managing pilot projects, and coaching large scale pricing transformations.
In this episode, Stephan highlighted the utmost importance of understanding the value delivered to customers before setting prices, emphasizing a value-first approach to pricing strategies.
 
Why you have to check out today’s podcast:
Learn the significance of focusing on a specific market segment to avoid distractions, streamline operations and increase chances of success Find out why you don't need to excessively customize your products Discover why prioritizing value over price can develop to more effective pricing strategies and maximize profitability  
"Do the value work first and then worry about pricing. So, value-based pricing is 90% value, 10% price. So, if you want to do that very well, value first, then price."
- Stephan Liozu
 
Topics Covered:
02:25 - How Stephan started in pricing
04:13 - Customer segmentation as it relates to value pricing
05:25 - Effective ways of maximizing segmentation
07:17 - Defining customer segmentation and how the SaaS scenario Mark described relate to that
10:16 - Integrating value pricing into customer segmentation
13:03 - What value means to the price buyer
14:11 - How is market segmentation different from customer segmentation?
16:52 - Discussing about product segmentation and taking software for an example
21:28 - The challenge of operationalizing customer segmentation
24:57 - Why focus on one market segment
26:41 - The need to not excessively customize your product
27:42 - Stephan's best pricing advice
 
Key Takeaways:
"Pick one market, focus on it, find your ICP, and then get a few logos; see what happens." - Stephan Liozu
"Do the value work first and then worry about pricing." - Stephan Liozu
"If you want to do that [value-based pricing] very well, value first, then price." - Stephan Liozu
 
People/Resources Mentioned:
Owens Corning: https://investor.owenscorning.com/ Thales: https://www.thalesgroup.com/en  
Connect with Stephan Liozu:
LinkedIn: https://www.linkedin.com/in/stephanliozu/
 
Connect with Mark Stiving:
LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on February 29, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/your-inward-focus-causes-horrible-decisions/
If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. 
Now, go make an impact.
 
Connect with Mark Stiving:
Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  

Mike Bosworth is a Co-Founder of WeConcile considered as the world's first Relationship Rescue and Restoration application.
In this episode, Mike shares effective pricing strategies and sales techniques to hold prices.
 
Why you have to check out today’s podcast:
Learn about the concept of "buying vision" and help your customers recognize the value of your product or service Learn how to stand firm against pricing pressure and maintain your desired price Discover how to effectively use "polite No's" to firmly establish pricing boundaries  
"Understand the value, i.e. how your buyer would use a particular piece of your product to solve their problem. And if you have that knowledge, it's really easy to defend the value of your price." 
- Mike Bosworth
 
Topics Covered:
02:13 - Mike's pricing approach
03:16 - Understanding why salespeople are losing the conversation when it comes to price
06:40 - What is a 'buying vision' and how helpful it is for buyers
07:26 - The need for salespeople to know well their customer's business
10:20 - How 'premature elaboration' gets you at a disadvantage
13:58 - Explaining 'cost justify' and 'price justify' from the buyers point of view
20:49 - The importance of patience in negotiation and use of "polite No's" to stand your ground on pricing
24:36 - Book resource of major negotiation stories you can check out
25:42 - Mike’s pricing advice
 
Key Takeaways:
"The only salespeople who can go out and negotiate their own prices are those ahead of quota." - Mike Bosworth
"I say to the managers, if your salesperson is under quotas, you have to go out there and provide the backbone and coach the call ahead of time.” - Mike Bosworth
“We want to teach them how to survive that call, but on their own, they're not going to have the ability to do it." - Mike Bosworth
 
People/Resources Mentioned:
Xerox: https://www.xerox.com/en-us Sales Force: https://www.salesforce.com David Crabtree: https://www.barnesandnoble.com/w/hold-out-david-n-crabtree/1119321227  
Connect with Mike Bosworth:
Linkedin:https://www.linkedin.com/in/mikebosworth/
 
Connect with Mark Stiving:   
LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

This is an Impact Pricing Blog published on February 22, 2024, turned into an audio podcast so you can listen on the go.
Read Full Article Here: https://impactpricing.com/blog/fear-stymies-your-growth/
If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. 
Now, go make an impact.
 
Connect with Mark Stiving:
Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/

Joe Woodard's vision is to "transform small businesses through small business advisors." And in the service of that vision he and his team educate, coach, provide resources and build communities for small business advisors, with the overarching goal of empowering them to play a powerful, high-impact advisory role with their clients.
In this episode Joe shares strategies for Infusing feelings and solutions into your pricing models that drive people's buying decisions.
 
Why you have to check out today’s podcast:
Find out effective strategies for your sales approach Discover effective hiring strategies to find the perfect team and talent that align with your needs Understand two foundational pillars of value to be effective in selling your product or service  
"Infuse everything we've talked about [sales approach] with feelings and solutions into something the client can consume, easily understand, comprehend, and buy easily."
- Joe Woodard
 
Topics Covered:
02:51 - From a Quickbooks advisor to hiring and teaching coaches how to coach businesses
05:40 - How this great quote from John Maxwell became a huge inspiration for his upcoming conference
07:28 - Understanding the two foundational pillars of value
09:31 - Methodologies used to maximize product's value proposition
12:06 - Gaining a competitive by catering to both emotional and solution-oriented needs
13:48 - Incorporating emotional intelligence into your sales approach
18:44 - How mimicking good behaviors is effective in selling
19:33 - Understanding the DISC method for hiring people
24:26 - Delegating outcomes, holding individuals accountable using methodologies like OKRs (Objectives and Key Results)
25:58 - Infusing pricing strategies with a combination of emotional resonance
28:47 - Interplay between emotions and problem-solving in both B2B and B2C contexts
30:06 - Joe's best pricing advice
31:51 - What this conference, 'Boldly Go!' is about
 
Key Takeaways:
"If you're waiting for all risk to go away, you're waiting for all fear to go away, you'll never act. And if you're waiting for perfection, you'll never act. So don't wait on those things. Enter the danger, proceed afraid, fail forward, and then read a lot. That's how I did it." - Joe Woodard
"People will only exchange their hard earned dollars for one of two things, how you make me feel, or how you solve my problem." - Joe Woodard
"It's not about price, it's about nature." - Joe Woodard
 
People/Resources Mentioned:
John Maxwell: https://www.maxwellleadership.com Michio Kaku: https://en.wikipedia.org/wiki/Michio_Kaku Neil deGrasse Tyson: https://neildegrassetyson.com Malcolm Gladwell: https://www.gladwellbooks.com/ Outliers: https://www.amazon.com/Outliers-Story-Success-Malcolm-Gladwell/dp/0316017930 Positive Intelligence: https://www.amazon.com/s?k=positive+intelligence&language Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs by John Doerr :https://www.amazon.com/Measure-What-Matters-Google-Foundation/dp/0525536221 Axe: https://www.axe.com/us/en/home.html Red Bull: https://www.redbull.com/ph-en/  
Connect with Joe Woodard:
Website: https://www.woodard.com/ LinkedIn: https://www.linkedin.com/in/quickbooksadvisor/  
Connect with Mark Stiving:
Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/