12. Get your pricing right with Ron Wood

Introduction

Pricing and marketing are joined at the hip. Ron Wood runs Pricing Insight which, as the name suggests, helps some of Australia and NZ’s largest companies define and implements pricing strategies. In this episode he talks with Brendan about the mistakes to avoid, the process to follow in order to set value based pricing, and how to align marketing efforts with your pricing strategy.

Timestamps:

  • 0:00 Episode intro
  • 0:50 Who is pricing expert, Ron Wood?
  • 6:00 Common pricing mistakes for MSPs
  • 10:40 Customers are not looking for the lowest price
  • 13:30 The problem of cost + during inflation
  • 21:00 Short term profits vs long term profits
  • 27:20 Understand who you’re selling to
  • 31:00 Market research to understand the pain points and value
  • 40:20 Scaling pricing with your brand
  • 44:10 Educating customers to create value
  • 48:35 Your value vs a competitor’s value
  • 57:00 Pricing success for MSPs

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