Impact Pricing Podcast

#394: Pricing Table Topics: 9 of Spades – Know What Information the Buyer Needs

This one is the 9 of Spades from the Selling Value card deck.

Buyers need different information depending on where they are in their own buying process.

There’s a map in the Selling Value book that talks about these different waypoints, but let’s simplify it for the sake of this table topics and say, look, there’s really two key phases in a buyer’s decision process. First, they make a ‘will I’ decision. Then they make a ‘which one’ decision.

When they’re making a ‘will I’ decision, they’re trying to ask, am I going to buy something in this product category or not? What they’re really saying is, is the value of solving the problem worth the resources it’s going to cost me to go solve that problem? What we want to give them at this point in time is information that says, here’s the value of solving the problem. Here’s the inherent value of our solution.

“Buyers need different information depending on where they are in their own buying process.”

– Mark Stiving

Once they go on to make a ‘which one’ decision, they’re now asking, is your product the right decision relative to your competitive alternatives? And now what they’re looking for is relative value information. What’s the value of your product relative to your competitor’s product?

We need to recognize where our buyers are in their buying process, and then make sure that we’re giving them the information that they need to get through that stage.

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 will become a better speaker and expert.

If you have any questions or feedback, please email me, mark@impactpricing.com.

Now, go make an impact.

 

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Tags: Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy

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