Impact Pricing Podcast

Ep153: Why Are There So Many Price Indices to Consider with Scott Miller

 

Scott Miller is an experienced pricing professional with over 12 years of proven leadership in achieving profit oriented sales growth through advanced pricing techniques. Currently, he works as the Vice President of Pricing at Fiserv. Scott guides the pricing team in developing creative proposals for clients on Fiserv sales of $3B annually. He successfully led and implemented profitable growth and pricing strategies in Fortune 500 companies across numerous industries.

In this episode, Scott shares insights in relation to his pricing journey, from the very start of being inspired by Neil Brisbane and now working as Fiserv’s VP of Pricing.

Why you have to check out today’s podcast:

  • Discover how you can avoid cannibalization of your own sales in other regions as you start going global in business
  • Know why understanding the context – your customer, your competitors, and outside influences – is important in doing pricing decisions
  • Learn more about formula-based pricing and its difference with cost-plus pricing

              

Understanding the context of the situation is key in making pricing decisions. Understand the customer’s viewpoint, understand the competitors that are involved in that situation, even outside influences, as much as you can, a consultant or not. I think those are the key things, and I think those are what people should think about when they’re pricing. 

Scott Miller

           

Topics Covered:

01:24 – How Scott started his career in pricing and what he loves about it

4:11 – Talking about Scott’s exposure to different concepts, the rebates, and the relationship between pricing and the customers

8:29 – Leaving Motorola and working in Hollister

11:40 – Going back to Motorola in a global role, dealing with arbitrage, and taking the risk of currency fluctuations

15:55 – Scott’s new environment in Air Gas and the discussion about formula-based pricing’s difference to cost plus pricing

19:27 – Why do people consider the pass through of AWS costs? What should they consider in doing so?

24:10 – Starting his journey with Fiserv through LinkedIn

26:05 – Discussion about companies taking all their overhead costs which affect their product’s standard price

27:41 – “Understanding the context of the situation is key in making pricing decisions.”

         

Key Takeaways: 

“We didn’t have a ton of tricks. Mostly, it was just paying attention to our own selling price.” – Scott Miller

“We didn’t deal with it [the risk of currency fluctuations] from the other side of trying to put the risk on the customers; we took the risk.” – Scott Miller

“The formula itself – coming up with something that’s agreeable to both parties, you have to be kind of specific in how it ends out in the contract to make sure if for any reason that index goes negative on you, you’d want to make sure that that’s not a price break. That this is only zero or up. It’s not a ‘Now, we’re going to start cutting costs because the index has went under.’ You have to be careful.” – Scott Miller

“Try to do it on a calendar date rather than like a 12-month from contract date, because you get into the business of constantly running these calculations. If you can get away with just doing it once a year, then maybe you’re just looking at the labor cost once and the transportation costs depending on how you built those formulas. Otherwise, you’re redoing it every time the contract comes due.” – Scott Miller

             

People / Resources Mentioned:

                 

Connect with Scott Miller:

                    

Connect with Mark Stiving:   

                          

Full Interview Transcript

(Note: This transcript was created with an AI transcription service. Please forgive any transcription or grammatical errors. We probably sounded better in real life.)

Scott Miller

Understanding the context of the situation is key in making pricing decisions. Understand the customer’s viewpoint, understand the competitors that are involved in that situation, even outside influences, as much as you can – a consultant or not. I think those are the key things, and I think those are what people should think about when they’re pricing.

[Intro]

Mark Stiving

Welcome to Impact Pricing, the podcast where we discuss pricing, value, and the indexed relationship between them. I’m Mark Stiving, and my mission is to help your company win more business at higher prices. And today, our guest is Scott Miller. Here are three things you want to know about Scott before we start.

He is a VP of Pricing at Fiserv. He manages a huge team of pricing folks. Okay, he said large, I said huge. And he’s been in pricing for 12 years now, so he’s been around the block. And by the way, he also plays the trumpet.

Welcome, Scott.

Scott Miller

Hey, Mark. Thanks for having me on. I really appreciate it. It’s always fun to talk about pricing, and I’m sure I’m going to learn a lot today.

Mark Stiving

I’m sure I am, too.

So standard question, 12 years ago, how did you get into pricing?

Scott Miller

Okay, that is a really good question.

So, I had worked at Motorola for quite a while in various roles. There’s an individual in the mobile phone division – Neil Brisbane, and Neil Brisbane was kind of the Genesis of pricing. He was my mentor in getting started. He gave me my first strategy and tactics and a pricing book, right? So, he was part of the Professional Pricing Society. He knew all the ins and outs and nuts and bolts and everything. And so, he gave me that opportunity in pricing and that chance to realize what a great career it could be for me. And really, his team branched off into many different areas, right? I know people that are originally there, doing pricing and consulting work across many different industries. So, I really have to give a shout out to Neil for getting everything started.

Mark Stiving

So, you had a different role and he just offered you a job in pricing, and you said, “Yes, I’m going to take a job in pricing”?

Scott Miller

That’s exactly right. So, I was at the time doing something a little bit more along the lines of the supply chain, and Neil had an opening and came and talked to me about it and I thought it was a great opportunity. Because what still interests me about pricing today is it’s kind of a left brain right brain kind of activity where, you know, you can go through the nuts and bolts, the logic and the facts of the financials and why it does or doesn’t make sense, but at the same time, there’s that creative aspect and I think that maybe ties back a little bit to my background in music where you’re thinking about how is the customer going to react to this? Are we presenting ourselves like we should? And you know, does it have a dollar sign or not? I mean, you can get into the little nitpicky details, right? And that’s what I really like about it.

Mark Stiving

Yeah, there’s so much that’s going on. It’s just fascinating.

Now, I find your story interesting because I don’t know if I’ve ever heard somebody tell me that story in 153 of these podcasts so far.

Scott Miller

Oh well, good. I’m glad I did something original. Great.

Mark Stiving

Almost always, it’s somebody got thrown into a pricing project and realized how much power there was and said, “I’m going to stick with this.”

Scott Miller

Well, so no, right? It was an established, organized team under Neil, and I think it was kind of forward because at that time, he was direct right to the CEO of that business. So, we weren’t part of finance. We weren’t part of product. We were sort of the police in the middle trying to run down that line of product people pushing for margin on their product and the salespeople pushing for the lowest possible price in the market. And so, it was a great experience; really got me started.

Mark Stiving

Nice. So, what did you learn back then? What do you think the big trick was that said, “Okay, now I think I’m starting to understand what pricing really means”?

Scott Miller

Well, you know, I’m not sure I still know exactly what pricing means, Mark. I did get the chance to get introduced to a lot of different concepts in that start there in Motorola, right? Because although we weren’t directly selling to a customer – it wasn’t really B2C, we were selling into carriers: your AT&T, Verizon, etc. – but it was always with that end price point in mind.

Back in those dark ages, it was the carriers that were subsidizing the phone. You can probably remember when you could go out and get a $0 phone if you signed up for a contract with Verizon. And so, when we were selling into Verizon, we were targeting those retail price points. So, you kind of have to think through it in a two-step process. You know, how much can we realize them the price? Where will that end up at retail? What kind of volume? Will we put this into kind of some kind of promotion where it’s normally 99 but they’ll sell it at 49 at Christmas? And so, it was a lot of that stuff. We talked about rebates and the breakage on rebates. How much is it really going to cost us to do $100 rebate, etc.

So, it was a lot of exposure quickly to a lot of different concepts and the life cycle was really short on a mobile phone. It was maybe 12 or 18 months and it wasn’t like a big SKU count. It was at 30, maybe. I mean, it really wasn’t a whole lot to keep track of as far as that was concerned. But it was a lot of exposure to a lot of cool concepts.

Mark Stiving

Okay, first question. How much does $100 rebate cost you? I’m curious. Is it more or less than 100?

Scott Miller

Oh, that’s nice. It’s much less. So, that’s the whole thing behind rebates, right?

So, if you offer a $50 or $100 rebate, you have the back history of how many people actually fill out the paperwork or do whatever it takes to get the rebate, right? And it’s far less than you’d even imagine. I think on a $50 rebate, it wasn’t maybe 19%. So, when we did that, you know, “okay, how much is this going to cost us?” We do that historical numbers that we had right from the past freebie and then just kind of prior to the cost breakout and what we expected to get in lift.

Mark Stiving

The thing that’s interesting about a rebate – besides the fact that it doesn’t get used by everybody who uses it to make their decision – is that you’re taking the profit hit from the consumers’ price, not from the price you sold to the dealer.

Scott Miller

That’s exactly right. You’re right. And of course, there’s a lot of things involved in that, right? How much inventory? How much you’re trying to move? Where is this in the life cycle? There’s a lot of thought going into that. But yeah, it is absolutely.

And we weren’t setting up rebates. I’m sure people have heard stories that it’s a horror show to fill out the paperwork. It was nothing like that. It was just people hearing at purchase and then just sort of forgetting about it and not actually applying for the rebate.

Mark Stiving

Nice. One of the things that I heard you say as you were talking about selling to carriers and consumers is a way that I don’t think many people think, and that is that we as pricing people or we as companies, we actually have two different customers or we have the end user as a customer. We have to understand what’s the price point they’re willing to pay. How do they perceive value? How are they looking at it? And then we’ve got that carrier or in a lot of businesses as you might call that – a distribution channel, right? So, my distribution channel has to make a decision. Am I going to carry your product or competitor’s product? Which am I going to push at what point in time? So, we’re really and truly thinking about value for two different customers.

Scott Miler

Yeah, you’re absolutely right and that’s a great point. It was super visible and vulnerable, right? Because it was right there in front of your face because of those basically locked in retail price points. You never saw something for 75. I mean, they were all 49, 69, 99, 129, right? So, it was right there for you every time you were looking at it. I think it gets a little grey. In the current position, we’re selling something that almost works like an operating system with some add ons, and then their end user is paying a certain amount, but it gets lost a lot. It’s not as clean. But you’re right. It really is more than just a one-step process on the selling price. Yes.

Mark Stiving

So where did you go from Motorola? Did you make the leave for Fiserv?

Scott Miller

Yeah. I transitioned to a medical devices company called Hollister Incorporated. And I don’t know if you’re aware of the mall store Hollister, but when I first told my family that I would have taken a position with Hollister, my daughter got super excited about it. I had to break the unfortunate news that it was a medical devices company – it was not the mall store – and they sell ostomy and continence and wound critical care. So, it’s a big switch, right? Not only in who we’re selling to, but how we’re selling. So, you got basically two markets, at least there were at Hollister. There were sales to hospital’s and then there were sales to people that left the hospitals, only the product.

So, you had big purchasing organizations with longer term contracts that were set up with various tiers based on volumes and your larger hospital systems either had their own purchasing organizations. We’re members of those. So, you go through that whole contracting cycle where you’re rebidding, to get the business and especially for that ostomy product that had that strong after leaving the hospital sales. You had to think about, you know, the sell into there was creating, and you know – sticky was probably the wrong way to turn this but a person that used that in the hospital was like almost 100% going to use it when they left the hospital, right? So, it was really important to sell into the hospital market and then you had that distributor market that would then sell to people in their homes, and they had to think about like Medicare and reimbursement and stuff. So, it was a whole different thing as far as what to think about and how to price and exposed to a lot of other factors like insurance, how much they’re going to cover, and then the actual SKU count was much larger, of course, in overall. I went from maybe 30 SKUs to probably like 700 – 800 SKUs for that medical device business.

Mark Stiving

Yeah. 700 is still not a lot of SKUs.

Scott Miller

It is not.

Mark Stiving

I think it’s not until there’s not 1000 SKUs.

Scott Miller

It seems like a lot, right? Leaving Motorola. You’re absolutely right. It’s not a whole bunch.

Mark Stiving

So, I don’t know if I’m jealous or glad that was you and not me, but when people ask me what do I price, I often say anything except government and medical. I try to avoid medical because insurance confuses the heck out of me when I try to do a fort myself, let alone trying to understand how they’re going to compensate and who’s making what decisions. It’s like, that’s a black box as far as I’m concerned.

Scott Miller

Absolutely. It was also exposure to MFC and things like that, right? And we were selling to the VA and the government demands the best price, so there was plenty of back and forth on what’s going on. How are we pricing this contractor versus others? How do we set up some kind of guardrails so that we can call this MFC for this situation? But it’s not that situation, right? So again, a ton of stuff learned in a different environment.

Mark Stiving

Nice. Okay, next step? This is actually fun, walking through your career.

Scott Miller

Well, that’s good to hear.

So actually, I was back in Motorola then. After I was at Hollister, I went back to Motorola in a global role, so I was talking to Europe and Africa and pricers across the globe. Similar products, but you know, where were they trying to sell in their market? What was their ASP? What was their floor price? And how do we deal with low pricing to get into an emerging market, not coming back and do like black market into where we’re getting a higher price point? So, it was a whole different exposure to things on a global international scale and it was super enjoyable too. I really liked doing the global role in the exchange rates and figuring all that.

Mark Stiving

So, we, economists, like to call that we use the word arbitrage, right? Someone buying at a low price and reselling in the higher price. How did you stop it? What are some of the tricks you could use?

Scott Miller

You know, we didn’t have a ton of tricks. I’d love to give you some silver bullet on how we stopped that, but you know, mostly, it was just paying attention to our own selling price. I don’t know if they legally tried to get after some people that were doing the black market type of activities, but there wasn’t a clean answer that we had at the time.

Mark Stiving

I know when I’ve been involved in situations like that – not identical, but situations like that – we tried to stop selling to the people who weren’t doing it the right way. So, it’s kind of like, you have to earn the right to sell the product.

Scott Miller

Yeah. And that was part of it, but they were buying off of carriers; they’d be in India or somewhere, and so they get the price that they needed in India, but of course, it was still below what we were selling it in Europe. And so, it was always a little bit of a balance, trying to balance between making sure we’re encouraging sales in some of those areas but not cannibalizing our own sales in other regions.

Mark Stiving

So, let’s talk about currency for a second. The big problem with currency is who’s taking the currency risk, the risk of currency fluctuations. How do you think through that problem and who makes the decision or how does the decision get made?

Scott Miller

Well, you know, at that time at Motorola, we took most of the currency risk because we priced in the local currency, so the fluctuations would hit our bottom line, right? And that, I assume, was just a conscious decision by the greater organization that they weren’t going to try and fluctuate prices to regions based on again, like the exchange rates. So, we didn’t deal with it from the other side of trying to put the risk on the customers; we took the risk.

Mark Stiving

And so, you know, it’s kind of interesting because right now, we’re in inflationary times. I could imagine that if you’re selling into a country and there’s a large currency fluctuation, that your competitors are also getting hit with that same currency fluctuation.

Scott Miller

Absolutely. Unless your competitor is in that region, right?

Mark Stiving

It’s local. Yes. And so, then you have a little bit more flexibility to say, “Look, we’re going to increase prices to cover some of that extra cost it took us.”

Scott Miller

Sure, sure.

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Scott Miller

So, that was a great time. I enjoyed working at Motorola. I left there and I went to a company called Air Gas. I don’t know if you’re familiar with Air Gas, but it’s a US based company for the most part that grew up with gas sales like oxygen, nitrogen, etc. and added welding supplies and safety supplies. So that was what you would call, I think, at least a somewhat larger SKU count, right? Because if you’re talking different types of gas and different sized cylinders and you’re talking about safety – I did all the way from safety cones to latex gloves, so quite a catalogue. Now we’re talking 1000s, for sure, of skews. And again, we learned a lot of stuff. They’re not just on the SKU count, but that was where I got a lot of exposure to something we had touched on a little earlier which was a formula kind of pricing or next pricing that gets launched in the contracts. Because you’re locked into a contract, you can’t necessarily just change the price of an item to a customer, so we’d have language in the contract to basically follow a mix of PPI trying to kind of hit a balance of how the customer viewed our cost base. So, you might have 34% of the increase based on a PPI for gas, and 33% based on transportation, and 33% based on labor, let’s say just an example. And so, then you just took the year over year for each of those indices, and you balanced it out by the formula 34-33-33, and that ended up being the contract increase for the year.

Mark Stiving

Okay. So, I got to tell you that rubs me the wrong way.

Scott Miller

Okay, why is that?

Mark Stiving

And here’s why. What you just described sounds to me like cost-plus pricing.

Scott Miller

Ah, okay. Fair, but maybe not exactly.

Mark Stiving

Okay.

Scott Miller

So, we have a price point that we’re selling in that in theory is disconnected from cost, right? So, we may be are selling, let’s say safety gloves for $1. What our cost below that is irrelevant to the dollar, more or less, right? That’s what we think we can get; that’s what we agreed on. What we’re saying is that dollar we’re charging is going to increment up by the change in that index. So, we’re just kind of raising price over time. It’s not really tied to cost. It is somewhat tied to what we’re saying our underlying costs are. So that’s where I see you making the connection. Cost-plus, kind of. Maybe no.

Mark Stiving

Well, no. I think your answer was right and I would have given that had you not given it.

Scott Miller

Well, thanks for that.

Mark Stiving

So, here’s what I think is really going on. It’s that you know, whatever the cost happens to be those materials doesn’t matter. You have some value add on top of that that you’re able to charge for. And so, we are charging for value, we know what a customer is willing to pay.

Scott Miller

Yes.

Mark Stiving

And all we’ve done is pre-established, that as costs fluctuate, your price fluctuates, but it turns out, we’re still getting that chunk of value on top.

Scott Miller

That’s right, and you’re incrementing that value, right? By whatever that index is. So, yeah. At the end of the day, you do realize some cost increases on a longer-term contract that hopefully both you and the customer can live with.

Mark Stiving

Yes. I’ve written a few blogs about this topic in a different way recently, and I’d just love to hear your thought. The concept is the companies who sell credits. So typically, they’re AWS SaaS type of companies – AWS-based SaaS companies – and they’re selling their product using credits instead of “Here’s what it costs for this capability.” It’s like tokens at the arcade, right? I’m going to buy tokens and stick them into the machine instead of putting dollars into the machine or at corners of the machine. And I think they do this because they’re trying to cover their costs of AWS. They don’t know what their customers’ AWS usage is going to be, and so they create these credits to make sure they’ve covered those costs.

Scott Miller

And you don’t think that their AWS cost is any kind of a pass through to that customer?

Mark Stiving

No, I’m pretty sure it’s not. But what my recommendation is, is pass through the AWS costs, right? Take a 10% margin on it just for the hassle of doing it and charge for the value on top of AWS that you put in.

Scott Miller

And that’s what I have been exposed to. Talking about cloud-based Software as a Service is that that part of it is viewed as more of a pass through, right? There may be some little margin bit on the top of that just because it’s a hassle; you’re doing the invoicing or whatever, but it’s often seen as just a pass through cost. So, I guess I’m in agreement with you that that’s the best to stick with.

Mark Stiving

So, what are some pitfalls? I haven’t done too much with index pricing like that. What are some pitfalls that people have to look out for if they’re going to start looking at something like this?

Scott Miller

Sure, sure. Obviously, the formula itself – coming up with something that’s agreeable to both parties, you have to be kind of specific in how it ends out in the contract to make sure if for any reason that index goes negative on you – which could happen, right? things change – you’d want to make sure that that’s not a price break, right? That this is only zero or up. It’s not a, you know, “Now, we’re going to start cutting costs because the index has went under.” So, you have to be careful that and I would also say…

Mark Stiving

How do you get… So, if I’m a buyer and you tell me, “We need to cover the cost increases”, I’m going to say, “Well, why don’t I get to take advantage of the cost decreases?”

Scott Miller

Well, and you can make that case before you ever had this discussion on PPI, right? I think there’s an underlying assumption in almost every business so that you’re cutting costs by 33% a year. I think that’s the standard that people kind of wash across everything. So, you know, they’re always going to assume that, right? I think we’re talking about, you know, our increase is not just to our costs, but you know, investment to get back into the products, etc. that we’re trying to wrap into some of this pricing and price increase discussion. It’s not just a bear cost discussion. So, although we’re tying it to a cost, we’re not saying it’s just our underlying costs that are increasing. That makes sense?

Mark Stiving

Yep. Absolutely. It sounds like it has been communicated well.

Scott Miller

Yeah, for sure. Absolutely. And I would also suggest that people try to do it on a calendar date rather than like a 12-month from contract date, because you get into the business of constantly running these calculations. If you can get away with just doing it once a year, then maybe you’re just looking at the labor cost once and the transportation costs depending on how you built those formulas. Otherwise, you’re redoing it every time the contract comes due.

Mark Stiving

Yeah. That sounds interesting for long term contracts, and I’ve heard that chemical type industries do this a lot.

Scott Miller

Yeah. I think it’s really used a lot in chemical type of industries. That’s my understanding. But that was obviously not where it was. But maybe the gas influence was, you know, part of why that was part of those contracts.

Mark Stiving

So, I’ve been in semiconductors quite a bit and it wasn’t uncommon for us if we had a part that used a lot of gold and we were using that relatively big contract as we’d have a greater index kicker in there.

Scott Miller

Yeah, that makes sense.

Mark Stiving

So, when the price of gold skyrocketed, we didn’t get hit. But the fascinating thing and, you know, point this out to all of our listeners, what that means is that we’re putting the risk on our customers.

Scott Miller

Yes, it does, somewhat. A limited amount of risk, but yes. And of course, it’s all in how you do this, Mark, right? I mean, I’m both involved in contracts where it’s tied to an index or a flat, you know, 3% or you know, whichever is less. So, sometimes that risk gets mitigated during negotiation, somewhat.

Mark Stiving

Yeah, that makes sense.

Okay, so where did you go next? When did you make it to Fiserv?

Scott Miller

How did I make it to the Fiserv? Well, that’s the beauty of LinkedIn, right? So, I had a recruiter reach out to me from Fiserv. I had no idea what the company was when they reached out to me, I thought it was Pfizer who we all know now for the shots and everything, and when I had discussion with them, their headquarters happened to be local to where I was working for Air Gas. And I just thought it was fascinating. Again, an opportunity to start pricing software. So, not only was it getting into more of the technology, you know, where I kind of cut my teeth back with Motorola, but it was a chance to look at pricing something that at the time, I just really had no concept. Okay, how do you price a license to where it makes sense? How do you price hosting software to people? etc. And so, I just looked at it – like I said – a great learning opportunity and I jumped at the chance to get involved. I’ve been very fortunate in my time at Fiserv. I’ve seen a lot of things, gotten to do a lot of exciting things.

Mark Stiving

So, one of the things I find interesting about pricing software is it essentially has zero cost. Now, that’s not really true, but it’s pretty close to true. And if you think about everything that you did prior to this, it was a physical product. It was real hard costs and we had to make sure that we were covering costs. And so, you could have excused and I say that horribly cost-plus pricing mentality as soon as you shift the software. If there’s no cost, how do you do cost-plus?

Scott Miller

You’re absolutely right. You’re right. It’s a different ballgame in software, for sure.

Mark Stiving

Yeah. And so, what do you think? I know, companies do this. What do you think of companies who take all of their overhead costs, their development costs, and divided by the number of units they’re going to say, and say, “This is our standard cost for our product”? And now, you’re being graded on margin. Oh, wait, I might be asking too specific of a question.

Scott Miller

You might be getting a little specific here. Let’s say I’ve seen that kind of thinking for sure. And I would not, you know, and I know you weren’t trying to set some kind of absolute. There certainly are costs involved with software. If you’re hosting, you know, suddenly, you’re in the ballpark of hard costs, right? You have a data center somewhere. It has to be staffed, etc., right? So, it’s a little more obvious at least in that kind of environment, not just the cost, but then you’ve got a value store, right? That you’re putting on top of it, which is something I helped develop some modelling. So, we go out to customers and tell them, “Okay, this is why you’re going to pay more for this, but look at all these benefits with the right standard value setup.” With the in house and license, that obviously is a little bit different. And I think in some ways, we get to piggyback on software licensing since day one is basically been set up, right? In a certain format. Here’s your license. Here’s your maintenance. And that’s like an industry standard. And the cost side of it doesn’t often come directly in the conversation. It’s more of an internal. How do we determine how much money we’re actually making in this situation, right? Whether we’re going to call as a cost for a license versus not a cost for license, I think that’s where it gets a little trickier.

Mark Stiving

Yeah, okay. Scott, I’ve been having so much fun with this, but we’re going to end with the final question.

Scott Miller

Okay.

Mark Stiving

Given your 12 years of experience in so many different places, what’s one piece of pricing advice you would give our listeners that you think could have a big impact on their business?

Scott Miller

I think, context. I think context of the situation rules many discussions that I have, at least for sure, currently. And then you can use that old adage of the life preserver right now, or if you’re on the Titanic, a whole different story on what that is worth to you. And so, I think understanding the context of the situation is key in making pricing decisions. Understand the customer’s viewpoint, understand the competitors that are involved in that situation, even outside influences, as much as you can – a consultant or not. I think those are the key things, and I think those are what people should think about when they’re pricing.

Mark Stiving

Nice. So, I’m going to repeat what you said using words that I think you’ll agree with. And that is every buyer – every purchase situation – the buyers perceive value differently, and our job needs to be to understand what the value is that each buyer is perceiving.

Scott Miller

I like that. I think you stated that very well, Mark.

Mark Stiving

Nice. I appreciate that. Scott, thank you so much. It’s been a blast. If anybody wants to contact you, how can they do that?

Scott Miller

LinkedIn would be best, right? And I think Mark, we’re going to tag that in the notes on the discussion, right?

Mark Stiving

Yeah, we’ll put the URL in the show notes. It will be easy to find you, and people can send you messages, so perfect. Episode 153 is all done. Thank you for listening. If you enjoyed this, would you please leave us a rating and a review? And finally, if you have any questions or comments about the podcast or pricing in general, feel free to email me: mark@impactpricing.com. Now, go make an impact.

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