Pricing College Podcast
Today's episode is a bit like Part B or a follow-up from our last episode a couple of weeks ago, where we introduced our new project, which we're calling Value Culture. TIME-STAMPED NOTES: [00:00] Introduction [03:05] Why do not all companies have specialised pricing experts or teams? [4:35] What can Value Culture do? [10:19] What can clients benefit from Value Culture? [11:17] The Ultimate Objective And The Essence Of Value Culture What is Value Culture? Aidan: Hello, and welcome to another edition of Pricing College with your hosts, Aidan Campbell. And ...
info_outline Episode #0118 - Why Pricing Requires CEO And CSuite BackingPricing College Podcast
Why Pricing Requires CEO and Csuite Backing Aidan: In today’s episode, we want to dig a bit deeper into a topic we’ve covered a couple of times in previous episodes. And that it’s vital, it’s so important that a pricing transformation or a major pricing project has CEO, C-suite backing. And I suppose today we’re going to dig into that. We’re gonna do a bit of a question-and-answer format. Cause it works quite well. So we’ll be asking our resident pricing expert, Joanna, these questions. I suppose then she’s smiling at that suggestion. So the first one is, I...
info_outline Episode #0117 - What is different in B2B pricing?Pricing College Podcast
info_outline Episode #0116 - Q&A On What Optimising The Tail MeansPricing College Podcast
info_outline Episode #0115 - Discounting And Price Promotions In Retail Or B2CPricing College Podcast
info_outline Episode #0114 - Who do we think listens to our podcastPricing College Podcast
info_outline Episode #0113 - Pricing advice for start-upsPricing College Podcast
In today’s episode, we want to explore the world of startups and I supposed at Taylor Wells we got asked or approach by quite a few startup businesses and the early stages of development with questions about pricing advice and pricing strategy and how start-ups should price. And I suppose we just really want to explore some of those ideas today and maybe just discuss some ideas. TIME-STAMPED NOTES: [00:00] Introduction [03:00] What’s our advice on issues regarding pricing for start-ups? [12:19] How can we advice start-ups in discovering value in pricing? [16:57] Would you advice...
info_outline Episode #0112 - Can pricing save the cinema and movie theatre industryPricing College Podcast
[00:00:00] Aidan: Hello and welcome to another edition of Pricing College with your host Aidan Campbell [00:00:06] Joanna: and Joanna Wells [00:00:07] Aidan: Often at Pricing College, we find new ways to show that we live in the past. And so today we are going to talk about cinemas, cinema pricing, and I predict somebody will say movies are not as good as they were in the old days. [00:00:21] So I'll let Joanna kick-off . [00:00:24] Joanna: I think we we're talking about cinema pricing, partly as response to that Bruce Springsteen, dynamic pricing scenario that occurred a few...
info_outline Episode #0111 - What can business learn from gym pricing?Pricing College Podcast
In today’s episode, we are going to cover something that’s very close to our heart. If you just listen to our podcasts, you may think we are just pricing gurus, but we are also incredibly ripped. And so we’re going to cover, gym memberships and gym pricing. A subject that I think a lot of people, both consumers and businesses can learn from. So I think we’ll let Joanna kick-off. Yeah. But firstly, starting with that, Aidan apparently goes to the gym five times a week. Not so sure. Maybe. Uh, anyway, aside from that gym pricing, gym pricing, now we wanted to speak about that yet....
info_outline Episode #0110 - What is a (CRO) chief revenue officer and what should they know about pricing ?Pricing College Podcast
#PricingPodcast #PricingCollege #ChiefRevenueOfficer In today's episode, we want to talk about probably a new addition to the C suite, which is called CRO which stands for Chief Revenue Officer. And this is probably a role that we're seeing more in SaaS companies, software as a service, more startups, more tech, probably more in America, I suppose. And it's someone whose focus is on all the revenue in the business, customers, profitability, revenue, selling, marketing, sales. It's a real catch all term. And I suppose we want to discuss today, is it really just a rebranding of an old fashioned...
info_outlineToday's episode will be probably a little bit different than usual, as we're going to discuss a new project here at Taylor wells, which we are launching. I suppose, to some extent we've already done a soft launch of it with particular customers. That is our project called Value culture. I let Joanna speak in a minute. But I think just a brief intro as to what it is. On our podcast over the last year or two, you probably hear us talking about lots of similar themes. Those themes are pricing settings between different departments. Pricing is a technical skillset, but also a people business. The difficulties in really getting trashed in a corporation. Make sure that our pricing transformation takes hold and runs and isn't just a set and forget but constant iterations and improvements. I suppose we've come to the conclusion that we categorise that as building a value culture in your company. The Value Culture Program through Taylor wells really will address that need.
I mean, as you're all aware, it can be extremely difficult to implement, execute a pricing strategy into the market. And not only that, interpreting that pricing strategy from a higher level, or interpreting higher-level business strategy for pricing. There's always often a disconnect there. We have a business strategy, but sometimes it gets lost in translation when it comes down to pricing, even sales, marketing activities. So, that's just one of the problems we've been seeing in the market. Our customers told us, how can we help with that? Miscommunication, as well as that age-old problem of implementation and executing strategy in the market. As we all know, over 70 to 80% of most transformation and major price change products fail. A lot of people argued that because of the complexity of the strategy itself, or the complexity of execution. We in our work, have seen that often that's not the case at all. It's because there's no system in place to build an embed capability across departments and within teams.
I think anyone who's worked with Taylor Wells will know that we're different to I suppose this podcast is a bit different because we're actually talking about ourselves for once. But usually, we don't do that. But I think it's an opportune time to do so. I think with Taylor Wells, you're always aware that we're helping build capabilities in your business. So that sooner or later you can run it by yourself. It's the old teaching a man to fish routine, isn't it? That's almost a cliche by now. But actually, I think it's the definition of a cliche, isn't it? But I think when you really embed that value culture in your business, it will keep going. You won't need external help at all times. It's something that will grow by itself through iterations as the market changes as you become more mature and your pricing focus as the entire business starts pushing in the same direction. A lot of this stuff is just helping companies get started. Helping people know what they're doing. One thing we're aware of is that you have a pricing department. Everybody in the company has a role to play in achieving commercial results. They don't need to fully understand the entire pricing approach. They don't need to fully understand the pricing technicalities, how things are happening? But they do need to implement and they do need feedback and they do need to feed into this process. I supposed the entire value culture program is making that happen. Building the system, building the structure so that every department whether it's your sales team, whether it's your marketing team, whether it's you know your finance team, your support team, your product development, product research, whatever it is. They’re feeding into and running alongside and going in the same direction as the commercial strategy as the value culture in your business.
That's right. I mean, often the teams don't know how to feed into pricing. A new pricing initiative is announced at quite a high level by key sponsors. Often done quite well as a big bang. People are excited, they're wondering what it is. Then there are sorts of a gap. There's a gap not just in communication. People go “okay, well, we heard that announcement once, what's happening with it now?”. But there's also a gap with “okay, what do we do next?”. Although Aidan mentioned that not everybody needs to know what the overall plan and strategy actually means higher level. I actually think that's very important to engaging teams in the overall process. So even though people need to know exactly what their piece is in the play, they also need to know why they're doing it. That's very key as well. That can be communicated by, not just for executives. It's done through line management. And also done through coaching and enabling and this various different types of coaching and reminding and nudging. Just keeping people in the right direction. Reminding them why they're doing it. Every step of the journey, because people forget. It can be new when there are new concepts. New ways of doing things you need to be reminded to break those older habits often sort of cost-plus. So this value Culture Program does all of that within one system. Utilises obviously project management. Utilises structured change management and people talent management systems, as well as a more technical sort of coaching in pricing and sales. So all within one system and just letting simplifying it down by person. So they know exactly what they need to do to get things done to achieve an overarching business strategy.
I think we're not gonna say too much more about it. We've already done a soft launch with two ASX listed companies. So it's out there. It's happening with companies who I suppose are probably innovative. Also, a word I find hard to say. And yeah, it's happening and it's been very successful. It will be rolled out obviously at different levels for different customer sizes. But I suppose people, anyone any listeners interested, maybe even doing better testing based on this for smaller companies. We'd certainly welcome you to come and chat with us.