The 🔒 SECRETS 🔒 of Pricing Strategies for Business GROWTH and Profitability

In this podcast Dave Erickson and Botond Seres are going to try to figure out how to price things - with Per Sjofors, Founder & CEO of Sjöfors & Partners, Inc.

Per is the best-selling author of "The Price Whisperer - A Holistic Approach to Pricing Power" and a member and thought leader at the Forbes Business Council and the C-Suite Hero Club.

He was recently identified as among the "The 10 Most Visionary Leaders Making a Difference in 2023" by Inc. Magazine and was recently identified as among the "Top 50 Global Thought Leaders in Sales" by Thinkers360.

At his company Sjöfors & Partners, he leverages the proprietary AI software that they developed as well as predictive analytics, and value research - in order to align product features, marketing messages, and customer segments with optimal pricing levels.

With over 700+ client engagements, his proven process has delivered remarkable client results, such as a doubling of growth rate and a 25% - 40% increase in margins.

Summary Timeline:
0:00 Introduction to the podcast topic of pricing strategies for business growth and profitability.
0:53 Dave Erickson introduces the guest, Per Sjöfors, and provides background on his expertise in pricing strategies.
2:31 Per Sjöfors shares his background and early experiences experimenting with pricing in various business roles. He explains the lack of practical pricing education in business school and his motivation to develop a successful pricing process.
4:26 Discussion on the importance of understanding the target customer segment and how that affects pricing strategies. Per Sjöfors provides a case study example of a premium product that failed to meet pricing expectations.
11:31 Exploration of different strategies for pricing in various market contexts, including the concept of price anchoring.
15:14 Examination of how marketing, including brand and product marketing, impacts pricing strategies and customer willingness to pay.
25:01 Discussion on the differences in selling to SMBs versus enterprises and the implications for pricing.
27:26 Advice on approaching individual customers through various marketing channels and the importance of creating an emotional connection.
30:36 Explanation of how sales channels and monetization strategies affect pricing decisions.
34:09 In-depth discussion on the challenges of finding the optimal price point that balances profitability per sale and sales volume.
43:25 Per Sjöfors shares insights on the limitations of dynamic pricing and the future of pricing strategies.
56:19 Conclusion, with Per Sjöfors providing an overview of his company's services and the importance of a holistic approach to pricing.
1:03:00 Outro

If you have questions for our Podcast Hosts or Guest, you can reach them here:

Dave Erickson = https://www.linkedin.com/in/daveerickson1/

Botond Seres = https://www.linkedin.com/in/botondseres/

GUEST: Per Sjöfors = https://www.linkedin.com/in/persjofors/

The Price Whisperer - A Holistic Approach to Pricing Power = https://www.simonandschuster.com/books/The-Price-Whisperer/Per-Sjofors/9781637351178

Website = https://sjofors.com/