Episode 578

full
Published on:

21st Aug 2024

Discover Your True Pricing Power with Casey Brown

As business owners and CEOs, why are we sometimes hesitant to increase our prices? 

In this episode, Bill talks with a pricing expert about pricing strategies for business growth.


Today’s guest is Casey Brown, a speaker, author, and founder of Boost Pricing, which helps companies generate more profit by empowering entrepreneurs and sellers to command the prices they deserve.


Key topics that Bill and Casey explore in this episode: 


- How the fear of taking risks hinders confident pricing decisions.


- Bill’s view that pricing at GE was accidental, not deliberate. 


- How buyers can lie about pricing, citing customer quotes and invoices as evidence.


- Understanding the customer's buying signal and addressing their concerns rather than solely focusing on price.


- An example where a restaurant increased prices by 10% on less popular items while leaving popular ones unchanged.


- Challenging the idea that charging more than a certain amount is somehow "breaking the rules." 


- How small price increases can have a significant impact on a company's bottom line. 


- How best-in-class companies focus on operational delivery, but often neglect to consider pricing power and its potential impact on profitability.


Chapters in this episode: 


(8:15) The psychology behind pricing strategies. 

(14:07) Pricing strategies in various industries. 

(18:01) Maintaining trust with clients. 

(21:37) Pricing strategies and addressing customer objections. 

(27:16) Raising prices on less sensitive items while keeping prices low on core products. 

(31:10) Pricing strategies and psychological factors that influence consumer decisions. 

(38:06) Pricing strategies that focus on value. 


Thanks to Casey Brown for being on the show! 


Connect with Casey on LinkedIn: https://www.linkedin.com/in/caseybrownboost/ 


Learn more about Boost Pricing: http://BoostPricing.com 


Bill Gallagher, Scaling Coach and host of the Scaling Up Business podcast, is an international business coach who works with C-Suite leaders to achieve breakthrough growth. 


Join Bill in the Growth Navigator Coaching Program: https://ScalingCoach.com/workshop 


Bill on LinkedIn: https://www.LinkedIn.com/in/BillGall


Bill on YouTube: https://www.YouTube.com/@BillGallagherScalingCoach 


Visit https://ScalingUp.com to learn more about Verne Harnish, our team of Scaling Up Coaches, and the Scaling Up Performance Platform, which includes coaching, learning, software, and summit. We share how the fastest-growing companies succeed where so many others fail. We help leadership teams with the biggest decisions around people, strategy, execution, and cash so that they can scale up successfully and beat the odds of business growth. 

 

Did you enjoy today’s episode? If so, then please leave a review! Help other business leaders discover Scaling Up Business with Bill Gallagher so they, too, can benefit from the ideas shared in these podcasts.


Subscribe via Spotify: https://spoti.fi/3PGhWPJ

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Bill on Facebook: https://www.facebook.com/billgall/ 

Bill on Twitter/X: https://twitter.com/billgall 


This episode was produced by Story On Media & Marketing: https://www.successwithstories.com 

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About the Podcast

Scaling Up Business with Bill Gallagher
Do you dream of an easier way to scale and grow your business? Do you wish you didn’t have to work so hard and put in as many hours? Do you find growth too slow, or hard to sustain?

This podcast—Scaling Up Business with Bill Gallagher—can help you achieve and maintain the growth you want.

A message from your host: “I’ve been in your shoes as a founder, CEO, and executive leader. I’ve coached and trained many leaders just like you over more than 15 years to grow their businesses successfully and profitably. But more than that, I’ve helped give them their time and sanity back. My core strength is making the growth process easier, faster, and way more fun.”

A dynamic thought leader, Bill talks with fascinating and brilliant guests each week, including visionary CEOs, trailblazing entrepreneurs, best-selling authors, renowned business strategists, and more.

Broadly, each episode focuses on one of the four major decision areas every entrepreneur and company must get right: People, Strategy, Execution, and Cash. More specifically, the show explores topics such as:

* Business Growth & Scaling.
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* Team Dynamics.
* Hiring & Talent Management.
* Company Culture.
* Employee Engagement.
* Crisis Management.
* Effective Communication.
* Influence & Persuasion.
* Business Strategies.

Running a business is ultimately about freedom. Subscribe to this podcast to learn how leaders like you can get your organizations moving in sync, create something significant, and still enjoy the ride. Subscribe if you want to elevate your business to unprecedented heights by tuning in to a masterclass in business excellence.

For information on Bill Gallagher’s coaching and training programs, and Scaling Up Workshops, visit www.ScalingCoach.com

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William Gallagher