Impact Pricing Maximize Profitability and Value with these Revolutionary Pricing Models with Dan Zatta
Dan Zatta is a leading management advisor in topline growth. He specialized in profit improvement on the revenue side, with extensive experience in pricing.
He is the author of the books ‘The 10 Rules of Highly Effective Pricing’ and ‘The Pricing Model Revolution’, translated into 10+ languages.
In this episode, Dan shares how these pricing models he mentions in his book can greatly impact a company's growth and profitability when used in a comprehensive approach.
Why you have to check out today’s podcast:
- Explore the various pricing models that can significantly influence your bottom line
- Discover a pricing model that helps you identify an additional unique selling point, ultimately boosting profitability
- Learn why it's crucial to have a holistic perspective of the company's overall impact before embracing innovative revenue models
"Make sure to be quick in increasing prices, ideally combine this with additional value to meet your profitability targets."
- Dan Zatta
Topics Covered:
01:13 - What finally got him into pricing after being a generalist
02:05 - A trick he does to gain sales peoples' support when increasing prices
02:32 - What inspired him to write his book 'The Pricing Model Revolution'
04:16 - Pricing as not an exact science
05:29 - An interesting fact about another reason for writing his book 'Revenue Management in Manufacturing'
07:34 - From an academic writing style to using language understood by non-pricing experts in writing his books
08:48 - What AI-based Pricing can do for your bottom line even when you are already an advanced organization
11:19 - Many more AI-based pricing opportunities available even with companies already using AI
12:34 - Explaining what Neuro Pricing is and the tool used for this
14:34 - Creating another source of competitive advantage in pricing with outcome-based pricing
17:18 - The need for comprehensive view into the company before adopting pricing models
19:31 - Defining Sympathetic Pricing
21:52 - Important thoughts on the idea of price fairness
25:21 - What is Psychological Pricing
27:28 - Dan's best pricing advice
Key Takeaways:
"Let's think about value also when we price and looking into outcomes could be one of those." - Dan Zatta
"If you are not changing your processes the way you're approaching how salespeople are compensated, then you risk having an issue with the model that maybe is great, but it's not pushed internally. And the same can be the case with incentives for clients." - Dan Zatta
"The impact of volatility of raw materials, there is still inflation in a number of countries. So rather than waiting, make sure that you're not losing time because the more time passes when costs are increasing, the more time you will need to recover profitability." - Dan Zatta
People/Resources Mentioned:
- The Pricing Model Revolution by Danilo Zatta: https://www.amazon.de/dp/1119900573/ref=tsm_1_fb_lk
- Revenue Management in Manufacturing: State of the Art, Application and Profit Impact in the Process Industry by Danilo Zatta: https://www.amazon.com/Revenue-Management-Manufacturing-Application-Industry/dp/3319302396
- Uber: https://www.uber.com
- Lyft: https://www.lyft.com
- Peter Drucker: https://en.wikipedia.org/wiki/Peter_Drucker
Connect with Dan Zatta:
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mark@impactpricing.com