Impact Pricing The Role of Product Managers in Pricing Strategy with Amit Godbole
Amit Godbole is the founder of ProdSquad, dedicated to simplifying e-commerce technology through improved product management practices. He serves as a fractional chief product officer at FCI CCM and coordinates regional product tank events with Mind the Product, a leading networking organization for product managers.
In this episode, Amit discusses the importance of pricing in product management and how it can significantly impact a company's success. He shares insights on how product managers can leverage pricing strategies to enhance value for customers and drive revenue. Amit emphasizes the need for product managers to take ownership of pricing decisions, especially in the SaaS industry, and highlights the value of understanding customer needs and market dynamics.
Why you have to check out today’s podcast:
- Discover how product managers can influence pricing strategies to drive business success.
- Learn about the evolving role of pricing in product management and why it should be a core focus.
- Gain insights on how to articulate value in terms of revenue, cost reduction, and risk mitigation.
“Discounting typically means you do not value your product, your services, as much as your client does. So, discount should not be part of the strategy.”
– Amit Godbole
Topics Covered:
01:55 – Amit’s unexpected journey into pricing
03:37 – The traditional view of product management and its evolution
04:55 – The importance of pricing in SaaS and B2B companies
05:54 – How product managers can experiment with pricing strategies
07:33 – The significance of understanding customer value and willingness to pay
09:30 – The role of pricing pages in B2B and B2C contexts
11:23 – Strategies for creating effective pricing pages that communicate value
12:34 – The impact of subscription models on pricing strategies
14:50 – The importance of honesty in pricing and customer communication
19:12 – Value-based to context driven pricing
24:19 – Amit’s best pricing advice for product managers
25:10 – Mark's advice to new pricing analyst
Key Takeaways:
“Pricing, revenue, and commercial aspects were the biggest levers somebody could pull in to get a product to the success they want.” – Amit Godbole
“Product management professionals must understand that value has to be tied to revenue, or a dollar value, because that's the real value you can create.” – Amit Godbole
“More companies need to be honest or need to help customers choose the right solution. If that's not right for them, don't upsell that.” – Amit Godbole
People/Resources Mentioned:
- Mind The Product: https://www.mindtheproduct.com/
- Figma: https://www.figma.com/
- Zoom: https://zoom.us/
Connect with Amit Godbole:
-
LinkedIn: https://www.linkedin.com/in/amitgodbole
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mark@impactpricing.com