Alessandro Bogliari, CEO and Co-Founder of The Influencer Marketing Factory, a global influencer marketing agency, talks with great guests about influencer marketing, social media, the creator economy, social commerce and much more.
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Content provided by Mark Stiving, Ph.D. and Mark Stiving. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark Stiving, Ph.D. and Mark Stiving or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Similar to Impact Pricing
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How to Benchmark Your Pricing Like AI Models with Steven Forth
Manage episode 495651986 series 2476247
Content provided by Mark Stiving, Ph.D. and Mark Stiving. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark Stiving, Ph.D. and Mark Stiving or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Steven Forth is the Co-founder and Chief Value Officer at Ibbaka, a leading value and pricing consulting firm. With deep expertise in AI applications for pricing and value modeling, Steven is at the forefront of developing intelligent agents that help businesses understand and communicate value more effectively. His work focuses on the intersection of artificial intelligence, pricing strategy, and value creation, making him a pioneer in applying AI to solve complex pricing challenges.
In this episode, Steven shares his insights on how benchmarking is revolutionizing both AI development and pricing strategy. Drawing parallels between how AI models are improved through benchmarking and how pricing models should be evaluated, he introduces a framework for measuring pricing effectiveness that could transform how we approach pricing decisions. Together with Mark, they explore the challenges of establishing "truth" in pricing, the role of synthetic data, and the future of AI-powered pricing tools.
Why you have to check out today's podcast:
- Discover how AI benchmarking principles can revolutionize pricing model evaluation.
- Understand how to evaluate pricing models from both buyer and seller perspectives.
- Explore the future of AI-powered pricing tools and what it means for pricing professionals.
"We don't start with the truth. We have to work our way towards truth through multiple iterations and applications."
– Steven Forth
Topics Covered:
02:15 – How Intercom's FinAI agent uses daily benchmarking to improve ticket resolution performance
05:30 – Why AI's success is built on benchmarking and how it emerged from the ImageNet competition
08:45 – The critical problem: pricing lacks standardized benchmarking like AI models have
11:20 – Michael Mansard's 12-factor pricing model assessment and its potential as an industry standard
14:10 – Why pricing models must be evaluated from both buyer and seller perspectives
17:25 – How market segmentation and use cases complicate pricing model benchmarking
20:40 – The role of synthetic data in pricing research and model validation
24:15 – Why "vibe coding" could disrupt traditional pricing consulting within 3 years
27:30 – The search for truth in pricing: hedonic pricing models and market assumptions
31:45 – Introduction to ValueIQ: Ibbaka's new AI agent for value-based selling
Key Takeaways:
"Anyone who says that they're data centric or data driven is actually before that they have to be model driven because they're using some form of model to organize the data." – Steven Forth
"We should have done this 20 years ago. What were we thinking? Well, we weren't thinking. And we didn't have ways to do this for us anyway." – Steven Forth (on developing pricing benchmarks)
"Benchmarking every day, I think, is going to be critical to the success of agents that do important business things." – Steven Forth
"You can always improve your measurement, but at some point the return of improving the measurement is lower than the cost of increasing the validity of the measurement." – Steven Forth
Resources and People Mentioned:
- Douglas Hubbard's How to Measure Anything (book): https://www.amazon.com/How-Measure-Anything-Intangibles-Business/dp/1118539273
- ImageNet: https://image-net.org/
- Michael Mansard's 12-Factor Pricing Model: https://www.insead.edu/bio/michael-mansard-0
- Intercom's FinAI: https://www.intercom.com/help/en/articles/8205718-fin-ai-agent-resolutions
- Lovable, Replit, Bolt: https://linkblink.medium.com/bolt-vs-cursor-vs-replit-vs-lovable-ai-coders-comparison-guide-3b9d41e75810
- ValueIQ: https://www.ibbaka.com/ibbaka-market-blog/get-ready-for-valueiq-sign-up-now-for-beta-access
Connect with Steven Forth:
- LinkedIn: https://www.linkedin.com/in/stevenforth/
- Email: [email protected]
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: [email protected]
515 episodes
Share
Manage episode 495651986 series 2476247
Content provided by Mark Stiving, Ph.D. and Mark Stiving. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark Stiving, Ph.D. and Mark Stiving or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Steven Forth is the Co-founder and Chief Value Officer at Ibbaka, a leading value and pricing consulting firm. With deep expertise in AI applications for pricing and value modeling, Steven is at the forefront of developing intelligent agents that help businesses understand and communicate value more effectively. His work focuses on the intersection of artificial intelligence, pricing strategy, and value creation, making him a pioneer in applying AI to solve complex pricing challenges.
In this episode, Steven shares his insights on how benchmarking is revolutionizing both AI development and pricing strategy. Drawing parallels between how AI models are improved through benchmarking and how pricing models should be evaluated, he introduces a framework for measuring pricing effectiveness that could transform how we approach pricing decisions. Together with Mark, they explore the challenges of establishing "truth" in pricing, the role of synthetic data, and the future of AI-powered pricing tools.
Why you have to check out today's podcast:
- Discover how AI benchmarking principles can revolutionize pricing model evaluation.
- Understand how to evaluate pricing models from both buyer and seller perspectives.
- Explore the future of AI-powered pricing tools and what it means for pricing professionals.
"We don't start with the truth. We have to work our way towards truth through multiple iterations and applications."
– Steven Forth
Topics Covered:
02:15 – How Intercom's FinAI agent uses daily benchmarking to improve ticket resolution performance
05:30 – Why AI's success is built on benchmarking and how it emerged from the ImageNet competition
08:45 – The critical problem: pricing lacks standardized benchmarking like AI models have
11:20 – Michael Mansard's 12-factor pricing model assessment and its potential as an industry standard
14:10 – Why pricing models must be evaluated from both buyer and seller perspectives
17:25 – How market segmentation and use cases complicate pricing model benchmarking
20:40 – The role of synthetic data in pricing research and model validation
24:15 – Why "vibe coding" could disrupt traditional pricing consulting within 3 years
27:30 – The search for truth in pricing: hedonic pricing models and market assumptions
31:45 – Introduction to ValueIQ: Ibbaka's new AI agent for value-based selling
Key Takeaways:
"Anyone who says that they're data centric or data driven is actually before that they have to be model driven because they're using some form of model to organize the data." – Steven Forth
"We should have done this 20 years ago. What were we thinking? Well, we weren't thinking. And we didn't have ways to do this for us anyway." – Steven Forth (on developing pricing benchmarks)
"Benchmarking every day, I think, is going to be critical to the success of agents that do important business things." – Steven Forth
"You can always improve your measurement, but at some point the return of improving the measurement is lower than the cost of increasing the validity of the measurement." – Steven Forth
Resources and People Mentioned:
- Douglas Hubbard's How to Measure Anything (book): https://www.amazon.com/How-Measure-Anything-Intangibles-Business/dp/1118539273
- ImageNet: https://image-net.org/
- Michael Mansard's 12-Factor Pricing Model: https://www.insead.edu/bio/michael-mansard-0
- Intercom's FinAI: https://www.intercom.com/help/en/articles/8205718-fin-ai-agent-resolutions
- Lovable, Replit, Bolt: https://linkblink.medium.com/bolt-vs-cursor-vs-replit-vs-lovable-ai-coders-comparison-guide-3b9d41e75810
- ValueIQ: https://www.ibbaka.com/ibbaka-market-blog/get-ready-for-valueiq-sign-up-now-for-beta-access
Connect with Steven Forth:
- LinkedIn: https://www.linkedin.com/in/stevenforth/
- Email: [email protected]
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: [email protected]
515 episodes
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Similar to Impact Pricing
Alessandro Bogliari, CEO and Co-Founder of The Influencer Marketing Factory, a global influencer marketing agency, talks with great guests about influencer marketing, social media, the creator economy, social commerce and much more.
…
continue reading
The fun email marketing podcast. Sell more of your online courses, grow your membership and bring in more coaching clients with email marketing that doesn't stink. Sound good? Then join your fellow Email Marketing Heroes for your weekly dose of fun, practical, yet brutally honest email marketing advice. You can listen in to a piping hot, fresh episode every 'Email Marketing Wednesday' or if you prefer learning with your eyes instead of your ears, we turn each episode into a full written blog ...
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continue reading
Insightful interviews with authors, experts, entrepreneurs, and thought leaders who share valuable marketing tips, growth strategies, and resources. Hosted by John Jantsch, one of America's top small business marketing experts, this show is dedicated to helping you craft effective marketing strategies that will grow your business. Whether you're a small business owner, marketing professional, or marketing agency owner, you'll gain valuable insights and actionable advice on topics such as mar ...
…
continue reading
How can business help solve society’s biggest challenges? Welcome to Series 3 of Take on Tomorrow, the award-winning podcast from PwC that examines the biggest problems facing society and the role business can—and should—play in solving them. This series, we’re welcoming broadcaster and journalist Femi Oke to the show. She joins podcaster and journalist Lizzie O’Leary, and together with industry innovators, tech trailblazers and visionary leaders from around the globe, they’ll explore timely ...
…
continue reading
Kipp Bodnar (HubSpot’s CMO) and Kieran Flanagan (Hubspot's SVP of Marketing), lead you down the rabbit hole of marketing trends, growth tactics and innovation. On the way you’ll pick up undiscovered strategies to give you that slight edge for success. These are not your typical twitter thread regurgitated marketing tactics that everyone is doing. These are new methods, with unfiltered examination of successful fresh ideas.
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continue reading
Business tips for startups by proven entrepreneurs
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Some Goodness is hosted by Richard Ellis, a seasoned sales leader passionate about inviting top business minds to share their wisdom. Each episode is only 15-20 minutes, perfect for your commute or workout.
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The Brutal Truth about Sales and Selling - We interview the world's best B2B Enterprise salespeople.
Brian Burns
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No BS Allowed - Are you sick of empty suits telling you to work harder? - Learn about The Maverick Selling Method, which models the world's best salespeople and what they do differently. If you are in sales and are passionate about selling, you will like this podcast. The focus is on b2b sales and selling. If you are selling or in sales, this podcast is for you. I cover cold calling, spin selling, challenger sale, solution selling, and advanced selling skills. Strategic selling, LinkedIn, sa ...
…
continue reading
Behind every successful business, there’s a story you don’t hear—the sleepless nights, the moments of doubt, and the determination to keep going when everything feels impossible. That’s what Unbreakable Business is all about. Join host Akua Konadu each week as she sits down with entrepreneurs who share the raw, real side of their journey—the roadblocks they faced, the challenges they overcame, and the stories that don’t make the highlight reel, but the the ones that matters the most. If you’ ...
…
continue reading
Publishing weekly since 2012, this show helps marketers navigate the ever changing marketing jungle with expert interviews from leading marketing pros. Join Social Media Examiner’s founder Michael Stelzner as he helps you discover new strategies and actionable tips to improve your marketing. Show notes at Socialmediaexaminer.com/podcast/
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continue reading
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