What Makes People Buy? Price & Value Masterclass w/ Ron Baker
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- Опубликовано: 21 сен 2022
- If you've been struggling financially to manage your expenses, price of product, or just overall livelihood of your work, then get ready to finally bridge that knowledge gap with the help of Chris Do & Ron Baker, as they discuss the concepts of Ron Baker's book "Implementing Value Pricing: A Radical Business Model for Professional Firms".
With a long & experienced background as a Certified Public Accountant, as well as Chris Do's masterful questions, Ron Baker is able to break down these concepts of price & value simply enough for anyone to understand!
6:25 Subjective theory of value
7:15 High client impact, high prices welcome
8:25 Price justifies the costs
12:21 The power of brand
14:39 Both the buyer and seller profit
16:04 Pricing sends signals
17:32 Determine your market position
21:19 Value is subjective, price is contextual
26:00 Give your customers pricing options
27:29 The value conversation
31:10 Premium prices w/ clear value prop
Timestamps by Joshua Cunningham
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Host: Chris Do
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Definitely ranks in the top 3 guest interviews of the future. This man is insanely articulate and when I check all the references he’s making, he’s on a different level. Please bring him back soon. Loved this!!!
He sure is. We plan on having Ron on again.
Which other ones do you rank in the top 3? Would be interesting to know
Curious… Who are the other top 2?
Yesssssssssss! Incredible, forthright and clear
OMG!!! When are you all having him back?
6:25 Subjective theory of value
7:15 High client impact, high prices welcome
8:25 Price justifies the costs
12:21 The power of brand
14:39 Both the buyer and seller profit
16:04 Pricing sends signals
17:32 Determine your market position
21:19 Value is subjective, price is contextual
26:00 Give your customers pricing options
27:29 The value conversation
31:10 Premium prices w/ clear value prop
Thanks!
Joshua, I'll update the description. Thank you !
Powerful. Thank you Joshua.
@@thefutur Right on my friend. I just do this for personal/public notes. I actually haven't finished them yet 😂. I'll respond here when I do.
Thanks
The relationship between value based service and self esteem/self respect. The first sale you make is the price you put on your own service. WOW. Just wow..... this chat's value is just out the roof.
Thank you for sharing this with the world!
I love the landscaping story and I’ve seen where I was the first two landscapers in many similar situations when I never heard back from the client.
Can't believe this video is free.
Thanks.
Learned more in the first 10 minutes than 4 years of my college marketing courses
Love RUclips for that
The RUclips algorithm is recognizing the value of your channel. This got recommended to me.
excellent!
Great interview. The best part was Chris taking the time to digest Ron's stories and points, and re-frame or rephrase them to ensure the audience (and possibly himself) understands the knowledge being dropped. Thank you
You’re very welcome
TeXtMe DiReCtLy🤙🤙🥶🥶
AGREED!!!! His comments furthered my comprehension and practicality. Soooo good
This is by far the most articulate and thorough explanation of value pricing Ive ever heard
Agreed
This was amazing shout out The Futur and much love to Ron.
“ 31:29 We are possibly pursuers” I love this
I have the Ron Baker headache. This guy is amazing and I can't wait to read his books
the medicine for this is to read his book. ;)
6:50 this is great, something also missed here is basic economics principle of supply and demand!
If a product has minimal supply and much demand, doesn’t matter how much utility it has, it’s over priced BUT PEOPLE WILL BUY! Same thing for a very saturated market, product can provide significant value but if there is more supply than demand, the product will be underpriced for its utility!
The conversation and information in this is amazing. Can’t believe this is freely available for the public! Gonna take notes after my first listen.
We are here to help.
This man made a massive difference in how we reorganised our business mind in our business today. It is amazing to listen someone like him for free!
BRAVO!
I wish every design student would learn this. I wish every high school student would learn this. I wish every voter would learn this.
Thanks for these interviews, Chris Do.
my mind just go BUUUUUM - so many pitches, ideas, mind hacks... WOOOWW
It's always super valuable when a person that deals with money and other people's money speaks, lots of valuable information is able to be extracted.
Branding is where it's at. The better the brand and the experience the better the sales and profit.
Yes, favorite interview so far! Great job, Chris!
Ooh! “The Double Thank You.” That’s perfect.
Ron is a fantastic teacher, this was so helpful. Incredibly coherent and direct, great examples and references. You can tell he's been doing this for a long time. True professional.
I’m only half way through and had to stop - to process what he just said. This information is en point. I can’t tell you how much I appreciate him speaking of the “solve the problem” issue only getting the customer to the status quo. We work so hard to bring more and all the business books get repetitive. This interview is so good. I’m taking a break and turning it back on in just a minute.
Thank you for commenting
I have no doubt the editor of this values our time
If Ron doesn’t, he ought to be doing voiceovers. He has an excellent tone and he’s consistent.
I just love this content here, man. We before in Ukraine and some still in BC, as everywhere else, still tend to think that the product’s value depends on actual hourly labour price involved and a number of another self explanatory ingredients. Whereas what’s the author is saying, in the opposite, is a customer based subjective theory of validating products pricing. Great job.
Value of this video is amazing. Thank you so much!
Price justifies cost. So true! Costumers expecting to pay the same amount for repeat buys year after year, while inflation reduces value of money, company keeps price but to be able to do this, they reduce cost by reducing quality. Customer complains about worse quality of widget, yet unwilling to pay for quality.
This guy is explaining the opposite of everything I've ever heard from every "successful" photographer in the photojournalism industry and it makes way more sense then all of the seminars I went to which explained how to break down your operating costs to justify your price.
"...perscription without diagnosis is malpractice...". MInd. Blown. This guy is hella good at teaching...so are you, BTW.
Thank you
Good interview and I agree with, and have applied for the last 45 years, much of what was discussed when what you are selling is essentially the knowledge between your ears. When you are selling a manufactured product with materials to buy, development to do and prototypes to build, test and verify, and millions or more in CAPEX to invest, then the equation is not the same.
To whom you are selling is also another major consideration. Selling to the actual consumer, say Apple, is not the same as selling to a major industrial business, say Ford, who want to know (and insist on suppliers providing) every detail in their bill of materials, their engineering costs, CAPEX, labour rate, overhead, investments, .... and last but not least their profit margin.
The subscription business model is genius!
This is an absolutely epic conversation… Gold 🙏
Can't thank The Futur enough for this. I always used to give 3 price options to the buyers but never thought it can be improved so much. Definitely gonna buy the book.
It's not everyday i see someone using a Blue Yeti mic. They are great mics honestly
Absolutely fantastic video, this is SOOOO AWESOME! Service based businesses need to know this!
I don't agree with everything expressed, but (as usual) The Futur has put out great content. It's not just the high quality of the guests, but the equally high quality of the interviewing. Hats off to Chris for carefully preparing thoughtful questions and being willing to shut the hell up while the guest answers.
Great stuff.
Thank you Jerry.
23:47 I had to stop and think wait... I have to start writing this down 😆
This is one of those interviews I'm gonna have to watch maybe 5 times over taking notes each time. Even on my first run I keep replaying lines because there's so much meaning packed in such few words.
Agreed.
Listening to Ron a second time months later I caught quote from author Rabbi Daniel Lapin in dollars being certificates of appreciation. Crazy how ideas are so infectious.
Bam! That's a world class business class on RUclips 💫 What a wonderful man!! Great to see people like this when the world is going the greedy and unimaginative free economy way. We need the youth to take notes from people like him. 👏👏
i love this guest! he's so funny and very smart. I respect him
I am 100% in with the part about understanding the clients needs & context and giving the client options. The subscription part then suddenly makes a complete turn here. When your clients are mostly public authorities and are required to obtain at least 3 tenders from 3 different firms; proposing a subscription, would be asking the decision-making person to do sth that would make them lose their job. Consequently, it is contradicting to understanding the clients context.
Subscription models are a fad and people are already sick of them. I predict there will be a big backlash.
I absolutely love how Chris is asking questions just like a student? He really applies what he teaches - Learn - Unlearn and that's why I respect him as my Guru. Love you Chris ❤️
Thank you
22:50 honesty and humbleness ❤♥🫀🥰
Thank you! You really scratched my itch! Wow thank you one of the best!
The landscaper story was invaluable knowledge.
Was literally just looking up all of Ron Baker's stuff when this came out. Thank you
As someone who is just starting in the branding industry, this channel is gold mine! 🔥
Thank you 🙏
Incredible interview! Thank you.
Amazing podcast .. and the man is genius especially.. love the idea when he said u just don't solve the problem as it brings the customer back to point A .. but help him to achieve his dream ... .. excellent podcast
On weekends there is a Pete's coffee bar and lounge ( personally relaxing experience and a great cup of coffee!)in the mall that I work in and on weekends all drinks a y size cost $1. There is never a line and yet when I tell people they still go to Starbucks in the mall to stand in a long line, pay 5 times the price, get a watered down and incorrectly made cup off coffee. We even have a coffee maker in our break room.
"Price justifies the costs and what justifies the price is the value." Powerful line, made me understand the key behind pricing.
eh, it's not quite 100% equivalent because it goes quantifiable > quantifiable > quantifiable > unquantifiable
One of the best interviews I have come across. Really learnt a lot.
Thank you
I've never heard of this channel but the RUclips algorithm gods smiled upon me today. I don't own a business or freelance but this video was mind-blowing. That example of the landscapers was insightful dive into the art of value propositioning.
Welcome to the Futur
So much business wisdom! Thank you for another value-packed video, huge admiration
This thumbnail does not do just to the value of this conversation. Gold!
Thank you. I suspect no thumbnail could.
I can listen to both of them the whole day without feeling bored. Pack with value. Thanks, Chris and Ron
You’re very welcome and Thank you
I second this motion.
Clarity, competence and value/concepts per minute in this interview is insane! Thank you very much!
There were so many greens in this interview, great interview. Chris, Thank you for interviewing Ron
In a seminar I did with Robert Kawasaki, we did a whole piece around describing money, value and inherent value. We had to "demonstrate' it! Value is symbol of what a someone will pay for it. Money is just a symbol of value across space and time that indicates demand.
It makes me happy that the background isn’t a generic shelf with a couple random objects I’m on it 🙌
I truly believe this video, just profoundly changed my life! I never heard of Ron Baker until now. His brake down of Value….will forever change how I do business and everyday life. Thank you!
Glad it was helpful!
I've had heard this interview like 3 times now, it's so amazing to listen to both of you. thanks!
I just discovered this channel, golden nuggets of wisdom every time I tune in!
Awesome!! Welcome to the Futur
Very insightful. Had to reshare it.
Thank you for making business marketing interesting
The biggest aha moment I ever had on any Pod😲 I Got a new pricing hero🙌🏼
This video is solid gold. Well articulated by both host and guest. So many gemstones in this content for those holding a genuine interest in sales, particularly getting better at sales. Thank you for letting me feel as though my time was well spent in watching. Cheers!
His landscaping story taught me how to be successful in sales
I don't listen to podcasts and definetely don't watch them.
But this.
This one is probably the most valuable interview I've watched in a long while. I instantly got a copy of his book and will do the same for the next one.
Thanks Chris for bringing this person to my knowledge. I, like you, try to always go deeper in the knowledge tree and find the real OGs when it comes to sales, marketing and applied psychology so this was super insightful and helpful.
Luna, you might reconsider podcasts. I find them to be great.
Yeah podcast are great especially when you’re doing more tedious tasks like painting a fence or cleaning the house. Decent pair of headphones, juicy podcast and you barely notice the work plus constantly learning.
I just kept taking notes and outlining things for further research. This was a pricing masterclass!
We think so too.
THRILLED to have stumbled on this. Intuitively I have been contemplating idea of subscription for my practice/business. Now I realize the true power of it and how strongly it aligns with my mandate, beliefs and mission. More pondering and reading to do !!!!! I feel incredibly INSPIRED. Thank you to both of you! 🙏🏼
I wonder how did you implemwnt the subscription? I also love the idea…
This is the best conversation I’ve ever heard about pricing. So many takeaways
@44:24 Subscription instead of ownership in many cases means:
1) Not having enough money to buy and own it.
2) Not really being interested in owning, so a temporary “rental” is sufficient.
If (1) applies to you, you are probably in for some trouble in the future.
Thanks for the shout out, Ron!
Incredible. I literally need to listen again and take notes.
so much valuable content, thank you for sharing on value pricing, subscription modeling, and reshifting a mindset on an exchange of value!
The best thing i’ve heard was from my brother when i was trying to price my art prints i sell at events. I initially wanted to sell it for 10$ becuase i also was charging for my costs, and when i asked him how much he would pay, he told me $20-40. The best thing he said was:
“If i wanted to buy a nice paper like this, i would go to home depot or staples and buy it myself. I would pay for this piece for the art and the value it has.”
This changed my perspective forever!
Watched this 3 times already. So much value! Thank you
10 minutes into this and I've already learned so much. This is pure gold. 🥇
I am very grateful for your sharing of knowledge and know-how Mr Ronald J. Baker... Thank you channel THE FUTUR for this interview very rich in marketing lessons
Awesome insights from this man Ron. Thank you Chris for bringing him on. Next I’m diving into all his books, priceless value I think!
This is absolutely one of the best discussion on innovative pricing!! Thank you Chris.
Watching this in South Africa. What an interview! Found the book on Perlego and I'll read it religiously.
Fantastic interview! Please get him back on to talk more about actually implementing a subscription model for creative services. Mind blown!
I love this interview with Ron and Chris. IDK if it’s just me but I always like Chris doing the interview instead of allowing others to host it lol. Anyways, this was the best video ever! Watched all the way through and never got bored.
Brilliant podcast! Thank you!
The value contained within this video cannot be overstated. Thank you!!!
Thank you.
Brilliant!!...you know, if I can digest even half of this podcast, won't need to buy the book for now...I mean this can get me into a position to afford the book!
But buy the book. We need to support authors.
@@thefutur Sure...I didn't mean it otherwise🙂
Did you make this video SPECIFICALLY FOR ME?! This is amazing. Thank you so much for this. Bought the book. Rethinking everything. THANK YOU
learned thing :
cost are determined by prices.
price justifies the cost a business can expand
doctor are so valuable that people are willing to pay price that justifies their human capital investment.
cost do not determines the prices. But prices justifies cost.
We're defined by the services we don't do and the customers we don't have.
I loved this pod cast. Labour theory of value. Intrinsic value? The subjective theory of value. Utility of customer value. I am trying to price an offer that brings a prospect B to B leads for product sales.
Your videos have helped me so much in running my business.
Great to hear!
Wow... This is the best interview on the channel. Has changed my business model completely.
By far one of the best interviews here in the Futur!
Thank you ! What a great interview. Mr. Baker , what a great orator , just so intersting and knowledeable
Loved this session so much...I wrote a blog post based on it for my industry. Tweaked the content but since the learning is transferable across industry...amazing stuff! Keep it coming!
Stellar masterclass and interview! I listened twice back to back to get the takeaway notes and double check uh earring them right. This is exactly what I needed as I have been at a stall in my service and if I’d be launching the subscription box I’ve contemplated
Glad to hear
Again a video of this channel of Guru's which has helped me to advance in my understanding. ❤ Thanx SO much!
As a result of this interview the next step is for me to get his book. He is a genius on the topic of value pricing