Impact Pricing Podcast

Memecast #73: Ace of Hearts: Win Rates and Average Selling Price

This one is the Ace of Hearts from the Selling Value card deck.

Selling value really does do a lot of things. But if you imagine for a second that a buyer has some expectation of how much value they’re going to get from our product. That is a good indicator of their willingness to pay, it’s a good indicator of how urgent it is that they want to solve the problem or buy the product.

But what if we had the ability to increase the amount of value that person expects to get from our product? For the sake of argument, let’s say we 10x it. We make our product really valuable to them. All of a sudden, they’re willing to pay more. They want it. They want it now. They want it faster.

“If they [buyers] believe we’re going to deliver a 10x, they’re going to buy from us instead of from our competition.”

– Mark Stiving

And so, we’re going to increase our average selling price, we’re going to shorten the sales cycles. And of course, if they believe we’re going to deliver a 10x, they’re going to buy from us instead of from our competition. And once we can recognize those buyers who really are going to get a lot of value from our product, then we get better prospects as well.

So, it turns out when we can sell value, we really do increase win rates and average selling prices.

We hope you enjoyed this memecast. This is also an example of how Pricing Table Topics works. Grab a deck of our cards, pull a random card, read the saying, and then talk for one to two minutes about what the card says. This will improve your understanding and more importantly, your ability to communicate important concepts.

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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