Who Do We Think Listens To Our Podcast 🎧 Podcast Ep. 114

In today’s episode, we are going to discuss, who we think listens to our podcast, or I suppose even who we think it’s aimed at.

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TIME-STAMPED NOTES:

[00:00] Introduction

[03:12] Who do we think listens to our podcast?

[05:31] What kind of feedback do we get from every person who listens to our podcast?

[07:21] How do we think every professional who listens to our podcast can process our discussions?

[09:03] What do we want everyone who listens to our podcast to learn?

Who Listens To Our Podcast?

Well, let’s think about this. I mean, I think about this in terms of like the feedback and the questions that we’ve got in the past and who has been asking them. So essentially, I think, you know, it’s kind of considered a niche pricing, but it’s a growing area for businesses.

So what we are seeing is a lot of smaller businesses who potentially have listened to the podcast and I thought, “Oh, okay this is not what I’m doing, this value-based stuff. It sounds good. It sounds exactly like what I need. I don’t know much about it. I think I want to learn a bit more.” So we’ve got that learning audience there with the smaller business owners.

And then we’ve got a very niche audience, specialised knowledge in terms of pricing managers who have worked in the industry, obviously are built up, hundreds of good relationships and connections with the pricing community. So obviously I have a following there, and they often comment and give me questions about various things.

So they obviously are keen listeners and I think they’re approaching it in two ways. In some way, it’s a little bit like, yes, this is exactly what we experience, these problems and challenges that what we experience in businesses. It’s great to hear these other people discussing these problems.

And equally, we’ve got people that are new to the industry or are noticing things are changing around them, and they’re keen to learn kind of what’s happening in the pricing and revenue management world. And then finally, I suppose, the other group would be sort of more experienced seasoned leaders, and executives, CEOs of major businesses, that we commonly work with, through our consulting and strategic recruitment services.

So they would be keen to hear, obviously, the insights, the latest news, what’s happening, risk mitigation, what not to do, and keep developments in the pricing world, specifically to their industry. So that Aidan is kind of where I think our listeners come from.

I think they will. You know what, I suppose, you know, when you’re making a podcast, and I suppose we’ve been looking at the numbers of how many listeners on this podcast. Fundamentally, it’s a niche. We’re probably around a thousand listens a month. I think unique listen and it’s a very niche area. I think pricing, how many prices are out there? How many pricing professionals are there?

Like, there aren’t that many, let’s be honest. There aren’t that many. And then obviously of the few that there are, how many listen to our podcast, You know, we can’t assume it’s a hundred per cent coverage, but if you’re not listening, like, why not?

I need a good reason. But I suppose, those are the professionals. We’ve had feedback, A lot of people are small business owners, and startup owners. People have approached this saying, you know, I’ve got this new business idea, but I have no idea how to charge for it.

And it’s like, I suppose what we’re trying to do is give people that light bulb moment, almost like that, you know, Paul on the road to Damascus concept where you get a flash of, you realise pricing exists. You sort of realise that there is a profession, there is an expertise, there is a subject area that you probably didn’t know about.

I was like that once I was, I just assumed probably cost plus was the way you do it. But I suppose when we’re discussing things, I’ll also say like, what podcast do we listen to? Do I listen to? I listen to quite a few from a business perspective, but not that many.

One we do listen to, I listen to is marketing school with Neil Patel and Eric Sue, which, covers modern marketing stuff. And I suppose their format’s quite different. They do it once a day, every day, but you pick up little nuggets and it gets you in that mindset that you’re constantly thinking about that.

And there are also lots of other ones I would like to listen to if they were available, and I suppose we’re trying to fill that gap for pricing. And I suppose, and we’ve also covered on this podcast, it isn’t really just pricing. It’s, that’s what we call it. But in reality, it is a commercial strategy.

It’s actually charging and making money for your business. 

Yeah, I think that’s right. I think when you think of pricing, literally just as a number or as an event, “Oh, I’m going to change these prices. I’m going to set a price for a new product, or what price do I charge it?” It’s at that point really that you think, “Ah, you know what? Pricing it’s not as difficult as just setting a number.” It’s integrated with a whole number of different information and data sources and different approaches.

And you think “It’s highly connected to my customer base. I didn’t realise that.” It brings up a lot of questions when you’re setting a price and often people think about pricing in a very tactical sense. So they think, “Oh yeah, I can do that really quickly.” And that’s the feedback we’ve got from listeners. Like, ” Until I listen to your podcast, I was thinking, Oh, you know, I can just quickly tackle pricing at the end of the list of chores that I’ve got to do at the end of the day, and it’ll be done.”

I even heard somebody say, “Do you know what, before I even listened to your podcast, I thought a value proposition could be just whipped up in an afternoon. And then I, you know, sent it on to my manager who signed it off and it was done. Job done.” But then listening to the podcast, I realised that actually value is the centre of a business model.

And you don’t just do a value proposition across the board for a category or just across various segments. You have to do it by product. And if you’ve got thousands of different products, the question is, how do you get your head around that sort of thing?

Pricing in a sense, it’s becoming very granular. It’s becoming very specific, but highly connected to a lot of different, information and data sources, analytics, but at the same time, very specific when it comes down to optimising pricing. And this here is sort of the epiphany that people have when they listen to this podcast across each of those different segments that I’ve discussed.

And from that, we get to, have great conversations with people about their unique challenges. Because although we touch broadly on what pricing is, it’s only when you get speaking about different business models and unique challenges that our customers have, that you can then really pinpoint the exact pricing methodology, the right approach for their business, the right model, and I suppose the right integration of data and information sources that they need to produce that optimal price and pricing strategy.

Look, I’d also say, I suppose just the style of how we do the podcast. Like it’s not very technical. We’re not focusing on technical detail. You know, we’re not telling you algorithms, ” x plus three minus six divided by”, if we started doing that, it would be bizarre. And I don’t think this is the format for that, you know, the method of pedagogical methodology.

Is that how you said that? Is that a word for teaching? So I don’t think it’s the right approach for that. I think podcasting is something you probably listen to in the peripheral background while you’re walking your dog with headphones or you know, when you’re driving the car and the scooter, et cetera on the way back, that’s probably when people, I assumed do while listening to the podcast and it’s more of, I suppose we’re building a community, we’re building that background knowledge.

We’re sort of probably telling people to be thinking about pricing, about commercial strategy and you know, obviously with the core focus on pricing is where it’s at, but so I think probably for our potential growth is in two areas. It’s probably that startup, small business owner concept one, and I think two, it is probably, more general management, more c-suite, more senior commercial managers, potentially even financial people want to move into more of a commercial approach, and I divide those two lines, financial.

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Bottomline: To Each Professional Who Listens To Our Podcast

So I think probably what we’ll do with the podcast is, we’re suggesting we’ll do some advertising on other podcasts. Which I believe is a good way to grow and you know, probably will focus on those sorts of podcasts. You know, start up a small business, you know, commercial strategy.

Cause I think probably that’s the most peripheral, or sorry, adjacent sectors that probably people will be willing to listen to. Like, I don’t think, you know, probably sports are, you know, that sort of stuff. People aren’t gonna listen to this stuff, so they’re not certainly our core audience. But I think that’s where the growth will be outside of the core of the pricing community.

It’s interesting when you say that because when they look at our consulting business, people do want to know about pricing applied to a certain problem or a certain industry, and I think we’ve even touched upon this sort of stuff in our own podcasts. But in terms of growing the podcasts, I agree. I would say this even to my clients, you’ve got to think about adjacencies.

Look at the data, which we have done in terms of our podcast. Look at the outliers and look at the mode, and where the clusters are falling and we’ve noticed those clear segments of listeners.

So, we’ll do our best to think about pricing according to their needs because again, what we’re trying to do here is to give our listeners value and to really address specific, well maybe not a spec specific, but problems that they’re thinking about and we need to articulate them for them and have that conversation that potentially is sort of on the top of their mind and they’re thinking, “Yeah, what is that? Am I right in thinking this?”

And that’s the sort of epiphany moment I think Aidan was talking about.

Yes, absolutely. Certainly, you are right and we would like you to continue thinking about that when we ask for questions and feedback, really feel free to give us that feedback, because that will only help us refine the podcast and really address the needs and challenges that you’re facing today.

Yeah. So I appreciate those who listen to our podcast and as I said, feel free to contact us and give us your questions more than happy to find out what that is. Okay, thanks. 

Yeah. Or if we’re completely wrong, just tell us. All right. Thanks then bye.

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