34 min listen
Pricing Table Topics: 2 of Spades – Relative Value Conversations
FromImpact Pricing
ratings:
Length:
2 minutes
Released:
Aug 9, 2023
Format:
Podcast episode
Description
This one is the 2 of Spades from the Selling Value card deck. You've heard me talk about value conversations before, where value conversations are really the conversation we have with a customer or potential buyer, so they can determine how much additional profit they're going to make when they use your product. And that's awesome when they're only making a 'Will I' decision. Am I going to buy your product or not? Am I going to buy a product in your category or not? But what happens when they say, "Am I going to buy your product or somebody else's product?" Now what we want to do is understand our differentiation because value in that case comes from the price of our competitor's product plus the value of our differentiation. We need to determine the value of our differentiation. Or said better, we need our customers or buyers to determine the value of our differentiation. And that's what a relative value conversation is. We want to see what's our differentiation relative to our competitors, and then go through the exact same steps we would with a normal value conversation to help the buyer determine if you have this problem that this differentiator solves, what's the result you might expect? How much additional value do you think you would get? And now we're putting a dollar value on the differentiation. This is powerful when you're competing. We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert. If you have any questions or feedback, please email me, mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/
Released:
Aug 9, 2023
Format:
Podcast episode
Titles in the series (100)
The Keys to Pricing Subscriptions with Patrick Campbell: Patrick Campbell is the CEO of ProfitWell (formerly Price Intelligently), the software for helping subscription companies with their monetization and retention strategies. ProfitWell also provides free turnkey subscription financial metrics for over... by Impact Pricing