Impact Pricing Podcast

#382: Pricing Table Topics: 10 of Spades – Never Mention Competition

This is the 10 of Spades from the Selling Value card deck.

Yes, we never want to mention competitors until our buyers bring them up because our buyers are on a trust journey, or at least we want to assume that they are.

A trust journey is where they’ve come to you to ask you for help figuring out, is this really a place I should be spending my resource? Is this worth the inherent value that I’m going to get when I solve the problems that I have? And what’s really important when our buyers are on this trust journey is they’re not saying, how are you different from your competition? They’re saying, how is it that you helped solve my problem?

“The rule really needs to be, we only talk about inherent value or the value of solving the problem until a buyer tells us they’re looking at competitive alternatives.”

– Mark Stiving

What we want to talk to them about during this trust journey phase is, hey, what problem are you trying to solve? What’s the value of solving that problem? In essence, we’re helping them build a business case for why they want to make a decision like this. And we never mention competition because it’s possible they don’t know that our competitors exist. It’s possible that in the act of helping them build that business case, they learn to trust us so much they just want to buy from us. They’re not price-sensitive at that point in time.

So, the rule really needs to be, we only talk about inherent value or the value of solving the problem until a buyer tells us they’re looking at competitive alternatives.

We hope you enjoyed this example of Pricing Table Topics. If you want to get better at speaking, especially about pricing and value, grab a deck of our cards, pull out a random card, read the saying, and then talk for one to two minutes about what that card says.  

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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