Jul 27, 2020
Why you have to check out today’s podcast:
- Learn about how the Pricefx pricing platform optimizes pricing
- Find out about the Pricefx pricing system’s flexibility which enables it to work across different industries using only a single platform
- Learn about Pricefx subscription pricing strategies
Gabe Smith is the Chief Evangelist at Pricefx. He is a Brand ambassador, thought leader, and chief storyteller. Responsible for expanding awareness of price optimization, CPQ, and the Pricefx brand throughout the universe.
He works with strategic clients and new use cases and feeds innovation back into the product organization. He also develops unified marketing content that extends into the sales process to create a resonant and unique position for Pricefx.
In this episode, Gabe talks about Pricefx’s pricing system and how it is used across different industries using a single platform.
“Realize that there are potentially different segments of customers that get different value, and package to offer in a way that appeals to those and set your pricing in a way that makes sense with those things in mind.”
- Gabe Smith
Increase Your Pricing Knowledge: Become a Champions of Value INSIDER!
To sign up go to insider.championsofvalue.com
Topics Covered:
01:03 - What led Gabe to Pricing
02:20 - From a pricing consultant to a management role
02:39 - What monetizing innovation is all about
04:02 - What is Pricefx built for
05:36 - What does Pricefx actually do
09:46 - How does the Pricefx pricing system capability respond to different industries
11:31 - The different industries Pricefx pricing has served
14:11 - Thoughts about generation-one customers having tons of custom-versions of their product in the marketplace
14:58 - What’s the smallest-sized company Gabe would recommend buy from Pricefx?
16:19 - The advantage large companies have with Pricefx platform
17:35 - How does Pricefx do Subscription pricing
19:12 - Thoughts on subscription pricing and the three value levers
19:54 - Gabe’s pricing advice that will have a big impact on your business
Key Takeaways:
“We believe strongly in being able to reflect all of the things that influence, especially the ones that really move the needle with regards to the net margin.” - Gabe Smith
“Pricefx is really about speed and flexibility - instead of trying to pre-bake things - and make them simple. We have the architectural flexibility to be able to make changes to account for those industry-specific needs as well.” - Gabe Smith
“What we decided was that our value metric, the thing that aligns most readily to the value our customers get from our solution, is the amount of revenue that they're managing, and potentially the capabilities.” - Gabe Smith
“You've got to have the ability to have a subscription that makes sense, but also have the implementation aspect lightweight enough, where they're not going to have a big IT team and a bunch of pricing people to work on (it), and project management people to manage this whole thing.”- Gabe Smith
Resources Mentioned:
- Monetizing Innovation: How Smart Companies Design the Product Around the Price by Madavhan Ramanujam
Connect with Gabe Smith:
Connect with Mark Stiving:
- Email: mark@impactpricing.com