May 27, 2019
Why you have to check out today’s podcast:
- Discover how Chris Hopf's pricing metric decision guide can help you evaluate your options and confirm your existing pricing approach
- The difference between pricing metrics and value metrics and discover why not all value metrics should be used as a pricing metric
- Know how understanding your customer better through metrics can help you achieve your revenue goals faster and with more confidence
Chris Hopf worked for more than twenty-five years as an owner, employee and as a consultant with small startups, mid-sized mergers and Fortune 50 Corporations such as Microsoft and United Technologies.
He helps client companies clearly communicate their value advantages, convert more prospects, keep more customers and capture their markets' full profit potential. His experience spans a number of industries including software, technology, IoT, AI, ML, digital media, retail, publishing, general and specialty contractors, industrial suppliers and wholesale distribution and more.
In this episode, Chris shares his pricing journey, all about his decision guide tool for pricing that helps determine business profit, and the importance of understanding the customer to help you increase your pricing confidence.
“Pricing confidence comes from value clarity.”
- Chris Hopf
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Topics Covered:
01:10 - Chris’s pricing backstory and how he got involved in pricing in every company he worked for
02:37 - The story behind his ‘Decision Guide for Pricing Metric’
03:26 - The difference between value metric and pricing metric
04:15 - Mark’s insight on value metric versus pricing metric
11:20 - Different evaluation example using his ‘Decision Guide for Pricing Metric’
19:45 - How pricing metric encourages per use or charging per user
22:40- Examples of what a company don’t measure in terms of internal execution
23:49- Creating your pricing metric, differences and cost impact
26:08 - Chris valuable advice: "Give your pricing a chance. One of the best ways to really inform your pricing should always start to understand your customer.’"
Key Takeaways:
“Pricing metric is what we look at the seller side and the value metric is what we look at the buyer side.”- Mark Stiving
“Pricing confidence comes from value clarity. So the more you increase your value clarity the better you understand your customer and the difference you make and what they care about what they’re trying to accomplish, you will simultaneously also be increasing your pricing confidence.” - Chris Hopf
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