When is Inflation Good for Price Increase with Robert Ribciuc

Robert Ribciuc is a Managing Partner at EBITDA Catalyst and a Pricing expert for Consumer & Software brands, driving 2-5+% profit & valuation gains in less than 12 months. In this episode, Robert shares how as pricing experts, we need to capture as much of the value and use value-based pricing to its full advantage while understanding a client's business goal regarding social concern in taking care of its vulnerable market segment.    Why you have to check out today's podcast: Learn how to make your pricing function and capabilities tuned in for price increase even at a time of inflation Find out about a white paper on how you can turn inflation into a competitive advantage Learn how to make your role as pricing experts be economically and morally satisfying   "Don't accept inaction for too long as your standard course of action." - Robert Ribciuc   Topics Covered: 02:01 - How Robert's journey began in pricing 05:27 - Talking about what EBITDA Catalyst do: customer insights and designing offers 07:03 - The broader definition of customer insights 08:49 - What he has to say about the price increase and inflation 11:40 - When do cost start to matter when pricing 17:53 - The deal-envy factor that happens 19:02 - What you earn for superior procurement function and competitive advantage 20:33 - A question on when should we start putting a second lens on value-based pricing 23:13 - Showing what mission-driven pricing is about 27:42 - What it means to enlarge the definition of one's role as pricer 29:49 - Robert's best pricing advice that could significantly impact one's business   Key Takeaways: "Seeing the human impact of doing pricing better, I'm not going to say right, but doing pricing better can impact the teams and the lives of the people who produce the value in the first place." - Robert Ribciuc "I think when we look at inflation; if you do nothing and you think just the cost impact, of course, bad things are going to happen to your margins when costs are up and everything else stays the same." - Robert Ribciuc "Being able to articulate, especially in B2B conversations, hey, part of why the price is higher is like, look, it's fair, our costs are higher. That does play a role in the sales interactions that moves the needle towards achieving that price increase a little easier." - Robert Ribciuc "The conversation we just had reflects this role we have as pricers to help our clients or our employers capture as much of the value as possible. And I think there's also a part of what we should be doing, which is to think about the sort of social role and ultimate role of pricing as a vector in social movements." - Robert Ribciuc "We should enlarge the definition of our role as pricers because our first role is to understand our client." - Robert Ribciuc "If the client or the employer, part of their mission is not to capture as much as they could from the value pie that's being created, but to consistently leave more on the table than they could, I think that makes our work both economically satisfying and morally satisfying when we can be part of that." - Robert Ribciuc   Resources Mentioned: Inflation & White Paper Increase - EBITDA Catalyst: https://www.ebitdacatalyst.com/inflation-price-increases-whitepaper/ Chick-fil-A: https://www.chick-fil-a.com/   Connect with Robert Ribciuc: Email: [email protected] LinkedIn: https://www.linkedin.com/in/ribciuc/   Connect with Mark Stiving:  Email: [email protected] LinkedIn: https://www.linkedin.com/in/stiving/