500 episodes

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.

Impact Pricing Mark Stiving, Ph.D.

    • Business
    • 4.8 • 46 Ratings

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.

    Blogcast: Reduce the Risk of Raising Prices

    Blogcast: Reduce the Risk of Raising Prices

    This is an Impact Pricing Blog published on May 2, 2024, turned into an audio podcast so you can listen on the go.
    Read Full Article Here: https://impactpricing.com/blog/reduce-the-risk-of-raising-prices/
    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/

    • 2 min
    Unlocking Pricing Potential Using the Pricing Spineometer with Tim Smith

    Unlocking Pricing Potential Using the Pricing Spineometer with Tim Smith

    Tim Smith helps executives address critical questions in pricing, marketing, sales, and corporate strategy in the face of high uncertainty by using proven best practices informed by solid academic research.
    In this episode, Tim delves into the Pricing Spineometer, a comprehensive tool designed to assess a company's pricing capabilities. By examining financial performance and organizational structure, one can provide valuable insights into the gap between a company's current pricing practices and optimal strategies. He also touches on the crucial role pricing plays in business success and the importance of CEO involvement in driving pricing excellence.
     
    Why you have to check out today’s podcast:
    Discover this pricing tool called Pricing Spineometer for assessing a company's pricing capabilities and learn how it works, its significance, and how it can benefit businesses Gain insights into the world of pricing strategies discover surprising findings about pricing practices in various industries and how they impact business performance Explore the critical role of CEOs in driving pricing excellence within organizations and understand why pricing decisions often require the direct involvement and prioritization of top leadership, and how this impacts business outcomes  
    "Take the time to apply the expertise necessary to your pricing questions. Think about it, and then listen to that expertise."
    - Tim Smith
     
    Topics Covered:
    01:36 - Sharing an enriching experience teaching and consulting
    02:45 - How he found himself in pricing
    04:08 - What made him create Pricing Spineometer, what is it all about, clarity on it measuring a gap versus a scorecard
    07:31 - The process of using the Pricing Spineometer
    11:40 - How the initial financial analysis sets the foundation for understanding a company's pricing needs and capabilities
    14:29 - Understanding that creating a Pricing Spineometer for a company involves significant work and expertise
    16:26 - AI's impact on pricing and the companies' various reactions on their pricing capabilities assessment with pricing spineometer
    19:16 - Valued for the expertise and insight not on time spent
    20:08 - Surprises coming up for different companies pricing sophistication
    22:19 - Does the CEO takes care of the development of pricing expertise and how does a CRO differ from a VP of Pricing
    24:26 - Tim's best pricing advice
     
    Key Takeaways:
    "If you changed the way you thought about pricing, there'd be a huge bottom line impact to your company." - Tim Smith
    "You're charging for the intellect that goes into the work, not the actual amount of time it takes to do the work." - Tim Smith
    "There are ways to get around tools, there are ways to use the tools, but you’ve got to understand what the goal is." - Tim Smith
     
    People/Resources Mentioned:
    World Class Pricing: The Journey by Paul Hunt: http://www.pricingsolutions.com/world-class-pricing-the-journey/ TI: https://www.ti.com Walmart:https://www.walmart.com Coca Cola: https://www.coca-cola.com/us/en Pepsi: https://www.pepsi.com/ Nvidia: https://www.nvidia.com/en-us/ Kraft Heinz: https://www.kraftheinzcompany.com/  
    Connect with Tim Smith:
    LinkedIn: https://www.linkedin.com/in/drwiglaf/ Website: https://wiglafpricing.com/  
    Connect with Mark Stiving:
    LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

    • 28 min
    Blogcast: The Value of a Feature: How to Create Value Tables

    Blogcast: The Value of a Feature: How to Create Value Tables

    This is an Impact Pricing Blog published on April 25, 2024, turned into an audio podcast so you can listen on the go.
    Read Full Article Here: https://impactpricing.com/blog/the-value-of-a-feature-how-to-create-value-tables/
    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/  

    • 6 min
    Navigating Price Changes: Overcoming Fear and Implementing Strategy with Patrick Meegan

    Navigating Price Changes: Overcoming Fear and Implementing Strategy with Patrick Meegan

    Patrick Meegan is a Managing Director at Investor Group Services. Experienced in technology, industrials, consumer products, retail and e-commerce, subscription programs, pricing, and product strategy.
    In this episode, he delves into the complexities of pricing strategies, emphasizing the importance of aligning prices with the perceived value and understanding market segments. She also explores the nuances between B2C and B2B pricing, highlighting the transparency in B2C and the significance of marketing and packaging in consumer products. Additionally, she provides insights on implementing price changes effectively in different organizational sizes and navigating the challenges of setting prices through distribution channels.
     
    Why you have to check out today’s podcast:
    Understand buyer drivers in order to make strategic decisions in pricing and packaging Learn practical advice on implementing price changes, particularly the challenges and strategies for ensuring successful pricing execution Gain valuable insights into the differences between B2C and B2B pricing, including unique challenges in B2C and the role of marketing in consumer products  
    "Spend time pressure testing the ideas."
    - Patrick Meegan
     
    Topics Covered:
    01:51 - The best way to teaching case studies and the how to go about each case
    02:49 - How he ended up in pricing despite lack of pricing background
    03:59 - Value-based pricing and understanding buyer behavior
    05:03 - The process of generating pricing insights
    06:39 - Application of a framework to generate pricing insights
    08:57 - Challenges and strategies for executing pricing changes, particularly in larger organizations
    11:17 - Overcoming fear of raising prices.
    13:08 - Strategies for reducing fear and uncertainty when implementing price increases 
    15:42 - The appropriate role of salespeople in pricing decisions
    17:32 - The importance of setting and managing price floors and discounting policies for salespeople
    21:34 - Maintaining pricing integrity and avoiding discounts
    22:46 - The differences between B2C and B2B pricing strategies and how crucial is setting the end user price first when selling through distribution or channels
    26:46 - Pat's best pricing advice
     
    Key Takeaways:
    "If we can't understand from the buyer's side what's driving their purchase, then it's hard for us to understand how to sell to them, how to negotiate, where to hang the value, how to package and how to structure the pricing model." - Patrick Meegan
    "I cringe so much when I see people going out with a price of whatever it is with a discount right along with it because whatever value established you just eroded by saying it wasn't worth that." - Patrick Meegan
    "Your portfolio also plays an important role in how you can influence pricing." - Patrick Meegan
     
    People/Resources Mentioned:
    Kimberly Clark: https://www.kimberly-clark.com/en-us Kleenex: https://www.kleenex.com/en-us/ Huggies: https://www.huggies.com/en-us/  
    Connect with Patrick Meegan:
    Website: maplestreet.com LinkedIn: https://www.linkedin.com/in/patrickmeegan/ Email: patrick.meegan@igsinsights.com  
    Connect with Mark Stiving: 
    LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

    • 29 min
    Blogcast: B2B Market Research Is Overrated

    Blogcast: B2B Market Research Is Overrated

    This is an Impact Pricing Blog published on April 18, 2024, turned into an audio podcast so you can listen on the go.
    Read Full Article Here: https://impactpricing.com/blog/b2b-market-research-is-overrated/
    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/

    • 2 min
    AI vs. SaaS: Transforming Software Pricing and Value Delivery with Steven Forth

    AI vs. SaaS: Transforming Software Pricing and Value Delivery with Steven Forth

    Steven Forth is Ibbaka’s Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business.
    In this episode, Steven explains how AI can significantly enhance software customization and pricing, enabling more precise value delivery for each customer. He emphasizes that while AI introduces new capabilities, it does not fundamentally change the core principles of pricing. 

     
    Why you have to check out today’s podcast:
    Dive deep into the comparison between AI and the transformative impact of SaaS, providing valuable insights into the future of software pricing and delivery Understand value models and how AI can optimize pricing strategies Explore how AI can enable highly customized software configurations and pricing, making it easier to deliver and capture value tailored to individual customers  
    "Before they invest a lot of time and effort in developing or pricing their own AI, find out what their customers are already doing and how they're thinking about the problems."
    - Steven Forth
     
    Topics Covered:
    00:47 - Skepticism as well as optimism regarding AI and addressing the hype surrounding AI
    04:15 - Exploring how AI might impact software pricing compared to the changes brought about by cloud-based SaaS.
    07:05 - The way AI can optimize software configurations and pricing based on individual value drivers for each customer
    10:44 - Discussing how SaaS fundamentally changed software pricing compared to AI
    14:11 - How AI, while it enhances capabilities and user experiences, does not fundamentally change the underlying principles of pricing
    16:31 - What is a value model?
    18:15 - Pricing being tied more closely to value with the rise of AI
    23:27 - Steven's best pricing advice
     
    Key Takeaways:
    "The underlying ways that we think about pricing have not changed because of generative AI and will not change, but some of them we’ll be able to execute on much, much more effectively." - Steven Forth
    "I think of pricing not as being something that is data-driven, but something that is model-driven." - Steven Forth
    "AI is changing how we build, deliver, and experience the functionality that software and data can bring. But as it does that, it also opens new ways for us to think about the pricing of the applications and the data." - Steven Forth

     
    People/Resources Mentioned:
    Pros: https://pros.com Microsoft: https://www.microsoft.com/en-ph/Don Norman: https://www.nngroup.com/people/don-norman/ Jacob Nielsen: https://www.nngroup.com/people/don-norman/ Totogi: https://www.totogi.com McKinsey: https://www.mckinsey.com Tom Nagle: https://www.linkedin.com/in/thomas-tom-nagle-2bb2288/ Zilliant: https://zilliant.com Pricefx: https://www.pricefx.com Vendavo: https://www.vendavo.com Tomasz Tunguz: https://www.linkedin.com/in/tomasztunguz/  
    Connect with Steven Forth:
    LinkedIn: https://www.linkedin.com/in/stevenforth/ Email: steven@ibbaka.com  
    Connect with Mark Stiving:
    LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com  

    • 25 min

Customer Reviews

4.8 out of 5
46 Ratings

46 Ratings

PreggieCoach ,

Insightful and practical

Mark tackles trending issues in a way that's both engaging and insightful. His podcast dives deep, offering practical takeaways you can put into action. It's a must-listen!

roodoodoodle ,

One of the most important pricing platforms

Mark Stiving is well known in the price space as a thought leader and visionary. This podcast serves as an important platform for pricing professionals to learn about trends, strategies, and tactics that affect companies across many industries.

nbsfmc ,

Pontification

Extremely arrogant host. Hard to understand why anyone sits through this. He’s constantly patronizing guests, rewording their answers, and generally trying to correct them to make himself seem smarter. It’s not working. His “big” ideas? 1) Good, better, best works for everything and 2) cost-based pricing is bad, except that he pontificates about value-based pricing which he describes as a percentage of the revenue anticipated by the customer, seemingly a variant of cost-based pricing. Takeaway: skip unless you like hearing people being negged into becoming his clients.

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