Live with The Pricing Lady, the Podcast

When you know thy customer it's easier to know that price. The number one mistake businesses make with their pricing is:

…not taking the time to understand the customer.

This usually comes in two forms, they are trying to target "anyone" or they are moving forward with untested assumptions about customers. This makes it very difficult to find prices that fit customers. Beyond pricing is makes developing the right offers, marketing them and selling them a bigger challenge than necessary. Typically companies end up pricing low because they feel insecure. They are new and feel that to entice customers they have to have a low price. 

In this episode...

In this episode solocast episode I will go into more detail on the importance and what it means you need to do. We'll look closer at why businesses do this, what the consequences are when you aren't clear on who you're targeting and the #1 way to avoid making the mistake.

Let's take a closer look at why you need to "know thy customer".

***
Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon

Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Pricing behavior is fascinating and it is influenced by many things – like geography, culture, upbringing, industry etc.

We can learn so much by simply observing the world around us. Many years ago I was in Egypt at one of the markets and there was a stall with at least a dozen signs that read things like “hassle free pricing” and “hassle 10% extra”. It was also in multiple languages. I still have the photo too.

Now if you’ve been to a market in Egypt you know haggling is part of the process… it’s a natural pricing behavior in many parts of the world. This vendor was making a clear statement about his brand and customer experience people could expect. Also his sense of humor. It affected his pricing behavior and that of potential customers as well.

In this episode…

In this episode of Live with the Pricing Lady, I’ve got special guest Sophia Syed. She’s the founder of Also Sophia Ltd. and Boss It Club. Also Sophia focuses on helping break down barriers. They supply ethnic celebration products for minorities within North America and Europe and have been picked up by Walmart. She’s fascinated by how different people, cultures and geographies relate to pricing…even the process that’s involved. She’ll share her own pricing journey. We’ll discuss what she’s observed, and how that’s played in her pricing behavior and what you should consider in your business.

Let’s take a book at how culture, geography and even your upbringing influences you and your customers’ pricing behavior.

***
Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon

Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Raise profits (or even maintain)...that's an important part of growing your business. 

To do that you've got to understand the things that influence your profits and know how best to leverage them. Your goal isn't to raise profits just because you can. It's to do so in order to continue to be there for your customers. To build your business, shift and evolve and for some of you it's about leaving behind that your legacy.

  - How many profit levers does a business have?

  - Do you know what they are?

  - Are you fully leveraging them?

Most businesses are not fully leveraging pricing. Most often because they're so focused on the other levers. But here's the kicker, price is the most impactful profit lever. Meaning if you want to raise profits, price is often the MOST EFFECTIVE way to do it. Or in the converse it could be the thing that's draining your profits and sabotaging your efforts in other areas. 

In this episode I share more about the profit levers and take a look at the things that influence profits and how that relates to what your doing with pricing.


Link to McKinsey Study: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-power-of-pricing

***
Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon

Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

How does purpose and impact affect pricing?

Traditionally we think of value being derived simply from the functions & features of a product or the outcome of a service. But what customers value often goes way beyond that.

What about the influence of a company's purpose or their impact on the world? How does that affect value perception? And how does that affect what you charge?That's what I spoke about in this episode with expert guest Melissa Buch, on Live with the Pricing Lady.

Melissa is the founder of brandbuch: a multi-disciplinary consultancy helping companies and brands find and enhance their purpose as an engine for growth.  It's a team of independent people around the world coming together to create purpose-centric strategies, experiences and designs.When it comes to purpose and impact Melissa is amazing and I'm thrilled to be having this discussion with her about how that can influence how people perceive the value your business brings and in turn your pricing. You're going to love this interview.

Reach out to Melissa at www.brandbuch.com

***
Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon

Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

A Pricing Strategy is the first step to setting your prices. More than that it will help you steer your business in the right direction and ensure that your pricing is setup to support your business objectives. Without one it's like playing the children's game pin the tail on the donkey. You're blindfolded, spinning in circles and in all likelihood headed in the wrong direction.

In this episode of Live with the Pricing Lady I'll share with you the top 5 reasons you need a solid Pricing Strategy and how that can help you in your business.

***
Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon

Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Pricing your offer is a challenge under "normal" circumstances but what if you offer isn't like the "magic pills" everyone else is offering? It's not that it's not valuable it just doesn't have that "sexiness" that others offer. 

Does that make it harder or easier to price your offer?

How does it (or does it) change what you do?

What does that really even mean?

In this episode...

In this episode with Special Guest Jen McFarland about what she means and how it affects pricing your offer. She founded Women Conquer Business to help entrepreneurs and small businesses slay technology overwhelm, streamline processes, and amplify their impact. Transforming their marketing strategy and operations from a huge headache into a business-building asset.

She shared with us her pricing journey. Jen confesses she was charging way too little and learned the hard way about the pitfalls of charging by the hour. Also the struggles she's had pricing her offer. If you're trading time for money or if what you're selling isn't the coolest thing on the block, then you'll want to hear what Jen has to say.

***
Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon

Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon 

Profitability is one of the main goals of your business, but if what you know about pricing is all wrong you will struggle at best. ​

What we learn as consumers is by in large the knowledge that most people posses about pricing. The retail world is different than most businesses. You need to step outside what you see and experience every day and look at whether those are the right strategies and tactics for your business. 

In this episode I take a look at 3 reasons why what you know about pricing is all wrong. Then I share with you what you can do to start turning that around. 

No matter if you're just starting out, struggling to get ahead or seeking to optimize you want to make sure you know enough to ensure you pricing is helping your business not hurting it.​

***
Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon 

"It took me a long time to realize the value I delivered."

Reality is if you don't value what you deliver your customers, chances are no one else will either.  

Too often business owners don't really believe in what they deliver. On the surface they say and do seemingly the right things, but at a deeper level that lack of certainty is silently sabotaging their efforts. In order to price what you offer the right way, not only do you need to know the value you need to believe it as well.

In this episode of Live with the Pricing Lady I sat down with special guest Joy Foster, Founder of TechPixies Ltd. TechPixies helps women upskill with social media in order to return to work, change careers or start a business.

Joy says about her own business journey, "It took me a long time to realize the value I delivered." As you'll hear in the interview her success wasn't overnight and it did take internal work get where she is today.

You're going to love this interview there's so much to learn from. 

***
Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon 

Years ago one of my bosses came to me and said, "Janene, you've got to help me. The management team is having a heated debate about what's more important value pricing or transactional pricing. As I'm not the expert, I need to know what to tell them. So, which is most important?" 

I smiled and said "Neither. Both." 

Then I went on to explain to him my theory called the Leaky Bucket of Pricing. 

In this episode share that theory with you. Plus we'll take a look at what it means you need to be aware of and do. 

***
Need help optimizing your profits? Ready to get a view of where you can improve?

Download my self-assessment Pricing Scorecard or simply book a Discovery Call with me at www.thepricinglady.com.

Subscribe: Apple Podcasts | Spotify | Stitcher | Google | Amazon 

In this trailer I'll introduce the show and share with you what you can expect. This podcast is ideal for business owners, startups, entrepreneurs, marketers and any one seeking to better understand how to grow profits and revenue through better pricing practices.

Be sure to subscribe to the show. Thanks for listening and enjoy Pricing!

(QwPBgyw3PitaZLdXPUB8)