Makers and sellers of industrial equipment and machinery would like to capture more value from their wares by retaining ownership and charging customers for subscription rates. But the transition to this model has been slow, reflecting the difficulty in pricing accurately. For the model to work, sellers and buyers have to understand the value the equipment adds to the business, and agree on how to share it, as the authors explain.
In this article, the authors provide data-driven strategies to help companies readjust their pricing strategies during these challenging times. Although focused primarily on travel and tourism industries, this article provides pricing insights that can be applied in multiple business markets and types.
In this article, the author provides a framework for managing change through a pricing transformation and highlights the benefits companies can expect to gain from price management automation and pricing transformation initiatives.
The one trait that will separate the winners from the rest in this pandemic is a rare combination of capabilities that we call commercial agility: the ability to make resilient pricing, design, sales, and cost management decisions with unprecedented speed and flexibility – over and over again – until some form of equilibrium returns to your market.
Pricing professionals are most often hired to accomplish a singular goal: improve profits. But how do measure the impact of pricing initiatives on profitability? In this article, the author provides an explanation of how a profit bridge with proper attribution can be used to both guide pricing efforts and measure pricing performance.
The shift of B2B buyers to digital channels is not a new phenomenon, but COVID-19 has accelerated the shift tremendously. For businesses looking to survive, COVID-19 has been a catalyst for accelerated change – a catalyst for investment in real, usable digital channels, as the author explains.
The COVID-19 economy has forced rapid and significant changes in many business and pricing models globally. Most significantly, it has driven the rise of subscription pricing in industries that previously would not have considered a complete pricing strategy transformation necessary. In 2021, we are seeing three trends around subscription pricing which are game-changers and which both B2B and B2C businesses should be keeping a close eye on this year.
On the most basic level, businesses need to meet their customers’ needs by delivering products and services that are considered worthy of the price paid. In each industry, there will be several competitors trying to compete for the customer dollar. The size of your business matters much less than having a sound strategy. This article is an excerpt from the author’s recent eBook “Selecting a Strategy for Market Leadership.”
In this article, the author shares the pros and cons behind the timing of pricing and sales software investment decisions. Should you invest before or after implementing other major systems such as ERP or CRM? And how do you determine if your datasets are clean and prepped enough to proceed? As the author explains, the best approach is to be informed, fully consider the options, and listen to your instincts.
Companies can capture hoped-for value from their pricing transformations by matching technology solutions to their unique needs and avoiding common pitfalls. In this article, the authors provide a roadmap for designing and implementing a pricing transformation process and outline potential roadblocks and common mistakes to avoid.