The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 3 weeks ago

Friday Fundamentals 140: Ajit Ghumar

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Fundamental Fridays 140: Ajit Ghumar

Everybody at Sam Jacobs, welcome to thesale hacker podcast and to Friday fundamentals. Happy Friday, we've gotthis week's guest back on the show. A Jit Goman Ajit is the head of productmarketing for Navar and he's really an expert product. Marketing veteran he'swritten a book all about pricing and we're going to be talking about thattoday and he's just a great guy. So before we get there, though, and we askUji about the number one mistake companies make when thinking aboutpricing, we want to think. Of course our sponsors we've got two sponsors fortoday's Friday fundamentals. The first is out reach a rich triples, theproductivity of sales teams, an empowers them to drive, predictable andmeasurable, refined growth by prioritizing the right activities andscale, and customer engagement with entire automation. Outreach, makescustomer facing teams more effective and improves his ability into it reallydrives. Results were also brought to you by pavilion. Pavilion is the key togetting more out of your career. Our private membership connects you withthe network of thousands of like minded peers and resources where you can tapinto leadership opportunities, professional development, mentorshipand other services made for high growth leaders like you, and the teams thatyou manage unlock professional potential with the pavilion membershipat Join Pavilion Com, a jet welcome back to the show, thanks for having meon again we're excited to have you back. Sohere's our question for Friday fundamentals. What's the number onemistake companies make when thinking about pricing yeah thanks for askingthe question: Am I think the number one mistake companies make? is they make adefault decision so time and again I see a company to a excellent Pang upjob on their product. They really make sure they deliver value of the customer,and then pricing is there's hit a mental block. When the pricing questioncomes up, it's almost like they forgot everything that they knew about thecustomer. At that point, sometimes the decision is made by a sales operations,person who's, trying to help a sales person close deal and there's a littlebit of Amnesia that happens. So the...

...problem is that there is amisconception that pricing is tough, it's complex or it's very analytical,and often you know, our NBA school or Grad School will give us thatimpression, with tough conjoint analysis and different serve methods,and while all of them are valid and legit, many of those things that welearned from like consumer for FM CG products and so on, and don'timmediately borrow to a software landscape. And what I would say isbecause I companies need to kind of build a muscle of discussing this whenyou're discussing more about value, and they start with the discussion aboutwho is our market? What are the different segments in the market andhow do we map our product to the value that the market is receiving? So theact of upstream act of positioning, first of all, understanding thepositioning and then working on the packaging to modes that will work forthe market is really important, often times an enterprise. Buyer will valuethings like collaboration features, security, features much more than acommercial buyer or a smv buyer. Who may have other considerations they more?They may want it to use a software quickly, they may want it to be selfserved. They want to be successful with it first they don't really care aboutlonger implementation times and so on, but an enterprise customer may caremore about He. I want a customer service manager to help me, becausethis is complex and it is high importance project for my company. soby able to be able to understand the needs for these buyers and then beingable to create packages that can really change in different shad the amount ofrevenue you can get and, at the same time improve their customer experiencein n PS from your product. Had you not done this exercise in a thoughtthoughtful way? I love it after the packaging discussion is then, then,when you go and discuss okay well, Mer customer? This is my price point andyou have an understanding of their...

...comparables. What they're looking atwhen they're buying something, then you can justify the price point. You canhave a pricing structure that works for Your Business. Early businesses like tohave like one part of terrists, which is more like pay as you go, so as youfind value or as you use us, you pay, but that can be very variable andseasonal. Then you can have, on the other end of the spectrum cell phonetype plan at say, hey by x, amount of minutes from us, or you can buy theunlimited plan for the higher fee. That gives you a lot more predictability andin between there is another thing called the two part tariffs which manySAS companies use, which is like it's a platform fee and then it's a be as yougo model. So it's a sequence of steps at which the price point and these tireof structure and contract structures are the latter decisions that areimportant, the most important ile. Do. I have the right offered for you, MrCustomer, and do I really understand you and your unique needs very, veryuseful, N. I love it age if folks are listening and maybe they want to hireyou as an adviser or a consultant or just pick your brain on pricing. What'sthe best way to get in touch with you, yeah, I'm on linked in a jib coman. I'mhappy too happy to have awesome folks on or chat to me you can linknote last.The word in for slash am f Jacobs thanks again to our sponsors, outreachtripling the productivity of sales teams everywhere and pavilion. Atransformational gathering place for high growth leaders and your teamslearn more joint Pasilides, so much for being our guest on the show this week,thanks so much him and everybody else will talk to you next time. I.

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