Pricing decisions can always help us achieve our goals. We need to make sure we understand what those goals are.
I would start with understanding what the corporate objectives are. Oftentimes those are things like we need to raise our average selling price. We need to gain more market share. We need to have more margin.
Typically, these goals, these corporate goals, are established by our CEO and our executive team, and they’re there to drive increased market capitalization.
However, your product may have a different set of goals than what your corporate goal is. So, what is the goal of your product?
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“Pricing decisions can always help us achieve our goals. We need to make sure we understand what those goals are.”
– Mark Stiving
The goal of your product may be to bring more people into the platform so that we then have more people we can sell upgrades to. That’s a great goal. We need to understand that as we’re setting our pricing.
Your goal may be we need to generate more revenue, more profit, so that we can fund other projects. That’s a great goal. We just need to know what our goals are. As we’re making these pricing decisions.
We hope you enjoyed this memecast. This impactful insight came from the book, Selling Value, which I wrote to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected].
Now go make an impact.
Connect with Mark Stiving:
- Email: [email protected]
- LinkedIn: https://www.linkedin.com/in/stiving/