Impact Pricing Podcast

371: Pricing Table Topics #86: Jack of Clubs: Price Is Not Driving the ‘Will I’ Decision

This one is the Jack of Clubs from the Selling Value card deck.

It’s true, price doesn’t drive the ‘will I’ decision. When people are making a ‘will I’ decision they’re trying to decide, is this a place where I should spend my resources?

And although you can imagine if I make a huge change in price, I could get somebody to change their mind in terms of, will they buy in this product category or not. But most of the time that’s not what’s driving the decision.

For example, are you in the market to buy a new car today? I’m guessing the answer is no. But what if you have an accident and your car is totaled? Well, all of a sudden, you’re in the market for a new car. And it isn’t the price. If we lowered the price, we raised the price, that wasn’t driving your decision. It was the fact that the need came up. You realized the need, and it was a really important problem.

Are you in the market to buy a new refrigerator? Probably not. What if your refrigerator breaks down?

“When people are making a ‘will I’ decision they’re trying to decide, is this a place where I should spend my resources?”

– Mark Stiving

Almost everything we can go through this same example where you’re not in the market to go buy something, until of course something happens to prompt you to say, hey, I’d really like one of those, and then you can go shopping for which one you want to go buy. But in the beginning, it’s not the price.

And so small changes in price really don’t change anybody’s mind in terms of, am I going to go buy something in this product category?

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 a random card and read the saying, then talk for one to two minutes about what the card says.

If you have any questions or feedback, please email me, mark@impactpricing.com.

Now, go make an impact.

Connect with Mark Stiving: 

Tags: Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy

Related Podcasts