Do I really have to tell you how pricing is for?
I hope not, but let’s talk about powerful pricing. It is incredibly powerful.
You might’ve heard that, if you could improve pricing by 1% on average, that has an impact of 10% or 11% profitability on your company.
This is huge.
“Pricing is such an amazing topic. It’s complex, quantitative, and psychological. It’s huge, powerful, and emotional. Most of all it’s fun.” – Mark Stiving
This is powerful, but I have to say what I think I love the most about pricing is nobody else really understands it.
Once we become an expert at pricing, a value, and we’re able to communicate that in other departments, in our company, we ended up building our own reputation. We build our own value inside the company because we’re able to do things and we know things that other people don’t.
Now that doesn’t mean that we can be A-holes about it. We have to teach. We have
to be collaborative.
We’re helping people do their jobs better. But if every department in the company focused on customer perceived value, which is something that you and I understand better than most, then the company would be much, much better off.
We hope you enjoyed this podcast. If you see have any questions or feedback please email me [email protected].
Now go make an impact.
Connect with Mark Stiving:Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy