While discounting is the symptom that needs to be fixed, a full understanding of the underlying root causes that drive this behaviour is key to improving sales performance. Ultimately, management needs a clear line-of-sight to both: does your business have what it takes?
Stephan M. Liozu, Ph.D. (sliozu@gmail.com), is the Founder of Value Innoruption Advisors, a consulting boutique specialized in value-based pricing, industrial pricing, digital and subscription-based pricing. He is also an Adjunct Professor & Research Fellow at the Case Western Research University Weatherhead School of Management. He is a Certified Pricing Professional (CPP), a Prosci® certified Change Manager, a certified Price-to- Win instructor, and a Strategyzer Business Model Innovation Coach.
In this article, the authors share their most recent B2B Pulse research, which shows how the shift to omnichannel has permanently changed sales and suggests what companies and pricers can do to adjust.
As pricers, we are analytics people and get very excited about the data that we collect and analyze, only to be frustrated when the rest of our organization doesn’t understand our enthusiasm for our data analytics and resulting pricing strategies. How do we take our insights and convert them into initiatives that our whole organization will support?
In this article, the author explores poor practices in pricing, billing procedures and organizational structures that have led to the recent demise of seemingly successful law firms. This industry specific pricing example provides both warning signs and pricing advice that can be applied by pricers in multiple industries.