Beers, Blokes & Business podcastPodcast026: Pricing with Jon Manning

026: Pricing with Jon Manning

Beers, Blokes & Business tackle pricing with Jon Manning

Pricing, every business uses it and it can be the death of your business if you get it wrong. Yet when you talk to business owners so many freely admit to having no real grasp of pricing strategy. Tonight we’ve bought our pricing expert Jon Manning to set us straight on various pricing models: cost plus, market bare & freemium.

Jon has the greatest Linkedin headshot we’ve ever seen.

What will you learn from this podcast

  • Why we really need to look at value based pricing.
  • Why dynamic pricing has been slow to be adopted in Australia.
  • Why Jon thinks Price Elasticity is a myth.
  • How did Sir Stellios price his ‘Easy’ businesses.
  • Why offering pricing packages especially for services is critical.
  • The reason Sean no longer uses Bronze, Sliver & Gold as his pricing package names.
  • How to sell a rusty old bike on eBay.
  • Why the second cheapest bottle of wine on the menu is the highest seller.
  • Why all pricing is contextual.
  • Does having 9’s & 5’s in your pricing work?
  • How Short Batch prices ice cream in the park & wedding packages.
  • How Courtney Cox, GramParsons & the Facebook graffiti artist chose to get paid.

Plisner Urquell bottle

Links from the podcast

On this BBB podcast were:

The beer of choice for this podcast was Plisner Urquell the first of the Czech imports.

Download this episode here but we’d prefer you to subscribe in iTunesStitcher or this feed if you don’t use iTunes.

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enclosure:
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16 Comments

  1. Chris Reply

    Be great to hear some insight on the effect pricing has on conversion rates with regards to online sale. We recently tried cutting the price of one of our products in half to see what the results would be. With the same amount of traffic over a similar amount of time the conversion rate doubled. We had sold twice as much product but at have the price so the revenue was the same. Unfortunately there are more costs involved in shipping twice as much product so we didn’t make as much profit but its interesting how spot on the numbers ended up being.

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  3. Jon Manning Reply

    Chris,

    Big pat on the back for having the guts to experiment with your pricing. There’s no such thing as a pricing laboratory, only the real world!

    One of the other great pricing “rules” which we didn’t talk about in the podcast, is that if you’re going to increase price, increase value as well. The opposite also applies: decrease price and decrease value. One way you could have done that would be to not offer free shipping on promoted / heavily discounted items, but thats tough in online retail. Is there some other source of value you could have removed to make the price cut more profitable?

    Jon @pricingprophets @sansprix

  4. KenBurgin Reply

    Weird – I can comment on this post, but unable to enter text in the comment box for #26 on Email marketing. I found the content on #26 first class – so much experience around the table. Found the background and overall noise a bit painful, usually better. Also the blokes constantly talking over each other and interrupting not so great – not sure if you have an MC but maybe they could be a bit tougher…. maybe a higher alcohol % than usual?

    Love the show – keep up the good work… Ken

    1. Sean Callanan Reply

      Thanks Ken, for listening & feedback. Both ep 26 & 27 were recorded on a my new laptop after I destroyed my MacBook Air with a glass of water. Didn’t have the exact same setup and I think that contributed to the noise levels being off. Hopefully I’ve rectified that now, my apologies. I’ll try to keep the blokes in line regards talking over one another.

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