The Buzzworthy Marketing Show

Welcome to You Are Buzzworthy! In this episode, we explore the crucial topic of pricing strategy in business. Host Michael Buzinski dives into the key factors to consider when setting prices, including costs, pricing objectives, and customer perceptions. He delves into three pricing models: cost plus pricing, value based pricing, and dynamic pricing, providing insights into their advantages and disadvantages. Additionally, practical tips are shared, such as tiered pricing and strategic promotions. This episode will equip you with actionable strategies to optimize your revenue and position your business for long-term success. Join us as we uncover the dynamic world of pricing strategy.
00:00 Optimize revenue through strategic pricing decisions.
06:55 Value and dynamic pricing affect profitability and demand.
09:06 Regulatory, ethical concerns in dynamic pricing strategies. Balancing profit and compliance is crucial.
12:14 Use limited-time offers to incentivize purchases.
Primary topic: Importance of Pricing Strategy
- Impact on revenue, customer perception, and market positioning
- Strategic decision for business success
Primary topic: Key Factors in Setting Prices
- Understanding costs - direct and indirect
- Pricing objectives - maximizing profit, gaining market share, covering costs
- Avoiding unsustainable pricing models
Primary topic: Pricing Models
- Cost Plus Pricing
- Advantages - transparency, stability
- Disadvantages - profit limitations, market disconnect
- Value Based Pricing
- Advantages - maximizing profits, competitive advantage
- Disadvantages - complexity, resistance
- Dynamic Pricing
- Advantages - capturing maximum revenue, quick response to market conditions
- Disadvantages - client perceptions, regulatory concerns, ethical considerations
Primary topic: Choosing the Right Pricing Model
- Depends on business, industry, and specific product/service
- Some businesses blend models for success
- Regular assessment and adjustment of pricing strategy
Primary topic: Competitive Analysis
- Importance of knowing competitors' pricing
- Reflecting competitive positioning in pricing strategy
Primary topic: Understanding Target Audience
- Conducting market research and gathering client feedback
- Aligning prices with client expectations
Primary topic: Practical Pricing Tips
- Tiered Pricing
- Catering to a broader range of customers
- Strategic Use of Promotions
- Incentivizing purchases without devaluing the service
- Regular Monitoring and Adjustment
- Analyzing pricing data, gathering feedback, considering inflation
Overall, the episode delves into the importance of pricing strategy, key factors in setting prices, different pricing models, choosing the right model, competitive analysis, understanding target audience, and practical pricing tips.

Follow @urbuzzworthy on LinkedIn | Instagram | Facebook | Twitter. Get your copy of Buzz's best selling book, The Rule of 26 at www.ruleof26.com.

Ever wondered how someone can excel in fields as diverse as music, pyrotechnics, and accounting? Join us as Felicia shares her extraordinary journey, from dazzling audiences at Disney's opening ceremonies to landing a coveted singing contract with Sony in Nashville. We'll uncover her unique story of balancing a career in accounting while orchestrating citywide fireworks displays, and how her passion for mathematics and love for music and pyrotechnics have seamlessly intertwined. Felicia's tale isn't just about following multiple passions; it's about the analytical rigor and entrepreneurial spirit that have driven her down unexpected yet fulfilling paths.
But that's not all—we'll also navigate the intricate world of tax mitigation and resolution, revealing why you should think twice before tackling your taxes solo. We'll break down the meticulous processes involved in resolving tax issues with the IRS, highlighting a cautionary tale about the pitfalls of self-prepared returns. Finally, we discuss the vital role of financial empathy and problem-solving, especially for well-educated individuals managing their affairs as they age. With an emphasis on understanding clients' needs with both compassion and firmness, this episode is packed with insights and lessons that resonate across personal and professional boundaries. Don’t miss out on this engaging conversation filled with invaluable advice and real-world examples!
Follow Felecia Dixson:
dixsonassociates.com

Follow @urbuzzworthy on LinkedIn | Instagram | Facebook | Twitter. Get your copy of Buzz's best selling book, The Rule of 26 at www.ruleof26.com.

How many times have you heard that podcast guest speaking is a great way to get your name out there and build your quote authority? Well, I am here to say that whoever is telling you this, is right. Podcast Guesting is a wonderful way to build your personal brand and authority. The best part is that it doesn’t take a lot of effort to do it? Or does it?

When I launched my book in 2021, I decided to go on a podcast tour. I initially hired an agent to help me and eventually started using a platform called Podmatch to supplement my placement. Now, over 100 podcast appearances later, I still use both. Now I will say having an agent gets me on bigger shows with less effort, but the cost is something I question from time to time.

So the question remains, use a podcast agent or utilize platforms like Podmatch to hunt for your own spots? Or is there a better way then both of them? Well, that’s what we are going to talk about today. We are going to explore the many ways you can use to get on other people’s podcasts to share your knowledge, build your following, and establish your authority.

To help me unravel all of the layers I just laid out is Adrian Moreno who began his career inside the health & fitness space while also gaining unparalleled experience with hypnosis & NLP, establishing himself as a behavior transformation specialist. Early on, Adrian too uses podcast guesting to grow his business beyond a half a million a year, and now he spends his time showing others how to do the same thing.

This week we'll cover:

1. Why is podcast guesting such a lucrative marketing strategy?
2. What are the best ways you have used to get on podcasts?
3. So is there a way for someone like me, an E level celebrity to get on shows with millions of listeners?
4. Let's assume our listeners haven’t been on at least 50 shows. What are the first steps to becoming a successful podcast guest speaker?

Follow Adrian:
www.thepowerpitch.co, www.thepowerpitch.co/guide

Follow @urbuzzworthy on LinkedIn | Instagram | Facebook | Twitter. Get your copy of Buzz's best selling book, The Rule of 26 at www.ruleof26.com.

Maxie Lambright was tired of the harsh winters in Ohio. So, he moved to Las Vegas and found his true calling - helping entrepreneurs level up in their businesses. But what makes Maxie's approach unique is his experience as a CEO. He understands the challenges and loneliness that come with the top role. Using his expertise, he has successfully guided countless entrepreneurs to find their passion and create a vision that resonates with their organization. Maxie's journey from Ohio to Las Vegas and his unexpected twist as a CEO mentor and coach is truly inspiring. But what's next for Maxie? Only time will tell.

In this episode, you will be able to:

• Discover the critical steps to smoothly transition from business owner to effective CEO.
• Learn the significance of embracing self-awareness and aligning with your personal preferences and strengths.
• Uncover the pivotal role of a CEO in developing and communicating a powerful company vision.
• Explore different decision-making approaches and how to engage valuable resources for support.
• Delve into the crucial need for mentorship in the growth and success of small and medium business CEOs.

My special guest is Maxie Lambright

Our guest today is Maxie Lambright, a highly skilled mentor and consultant who has made a name for himself in guiding entrepreneurs as they shift into the responsibilities of a CEO. Maxie is known for his ability to help business owners discover their true passions, articulate their company vision, and inspire their teams, while also effectively navigating the challenges that come with being a CEO. Maxie's unmatched knack for empathizing with both visionaries and implementers ensures that his clients consistently achieve success.

The key moments in this episode are:
00:00:00 - Introduction,
00:02:25 - Working on the Business,
00:07:12 - Outsourcing CEO,
00:09:31 - CEO Partnership,
00:16:03 - Focus on Your Strengths,
00:16:37 - The Difference Between a Coach and a Mentor,
00:19:15 - The CEO's Perspective,
00:23:48 - CEO School,
00:27:53 - The Next Generation of Leaders,
Follow Maxie Lambright:
[email protected]

Follow @urbuzzworthy on LinkedIn | Instagram | Facebook | Twitter. Get your copy of Buzz's best selling book, The Rule of 26 at www.ruleof26.com.

Picture this: You're at a networking event, shaking hands and exchanging business cards, but what if the very essence of making those connections could be transformed by artificial intelligence? Join me as Dr. Ivan Misner, the visionary behind Business Network International (BNI), reveals how AI is reshaping business networking. We peel back the layers of traditional networking practices and the integration of AI, sharing personal stories of success and the monumental influence BNI has had on professionals across the globe.
Are traditional business giants doomed to fall to the wayside, or can they adapt and thrive in an AI-driven marketplace? Our conversation takes a turn toward the bold reality of embracing disruption, where Dr. Misner and I dissect the downfalls of once-mighty companies and celebrate the potential of AI in creating dynamic, effective business teams. We'll navigate through the practical uses of AI tools like ChatGPT, which go beyond information retrieval to foster deeper business relationships and strategize our way to success.
As we wrap up our engaging dialogue, we tackle the professional landscape's seismic shifts due to AI. We reflect on the rise of new career paths and the importance of striking a balance between reliance on technology and the irreplaceable value of human creativity and critical thinking. Paying homage to Dr. Misner's legacy through BNI and his extensive authorship, I share how my 11-year journey with BNI fueled my own professional triumphs and offer a nod to the timeless benefits of such networks. Tune in and prepare to be enthralled by the fusion of the human touch with AI's cutting-edge in the networking domain.
Follow Dr. Ivan Misner:
ivanmisner.com and bni.com

Follow @urbuzzworthy on LinkedIn | Instagram | Facebook | Twitter. Get your copy of Buzz's best selling book, The Rule of 26 at www.ruleof26.com.