8 Tips For Creating A Killer B2B Pricing Team
This essay focuses on eight tips that will set you on a path to building organizational capabilities through an outstanding pricing team, which improves not only the bottom line but the combined abilities and contributions of each of the major functions in the organization.
Navigating inflation: A new playbook for CEOs
Few chief executives have faced the challenge of leading a company through an inflationary spike like the one we are currently experiencing. Lessons from strong leaders and bold action can help CEOs make the decisions that only they can make.
4 Key Tactics Pricing Professionals Can’t Ignore
After two years of disruption, organizations need to adapt an agile mindset to be flexible and dynamic to grow margin and revenue. What are pricing teams and revenue managers doing to stay ahead? Below are the four key pricing tactics you cannot afford to ignore.
Fighting “Greedflation” with Value-Based Pricing
Virtually every type of business is feeling the effect of current inflation levels and are being forced to raise prices in order to continue operating profitably. Although most customers understand the current economic pressures and see that prices are increasing everywhere, where things can get messy is in the “how” and “how much” behind these increases. In this article, the author provides best practices for avoiding the appearance of “greedflation.”
Managing Inflation through Smart Price Increases: Why MedTech Companies Need to Act Now
In this article, the author presents a nine-step approach that helps MedTech companies to successfully increase their prices while avoiding the most common pitfalls. It is structured in three phases – level configuration, implementation preparation, and roll-out – and addresses the key questions companies have regarding price increases. Although specific to the medical technology industry, this article provides insights for all pricers who are seeking agile solutions to battling current inflation challenges.
Data Is Ubiquitous – But Are You Using It Right?
Even in today’s digital world in which data about customers, their purchasing behaviors, price sensitivities, and buying experiences is readily available and consistently updated, making important pricing decisions can still be difficult. If your data is inaccurate, dated, or incomplete, your tactics won’t be as effective and you might miss out on potential prospects, as the author explains.
From Pricing to Monetization: Why does it matter?
In this article, the authors posit that the term “pricing” does not do justice to the nature and extent of the work done by professional pricing teams, and suggest it is time to rethink the word and expand it to formally include value management and other peripheral activities which are increasingly becoming part of the functional scope.
The KISS Principle In Customer Value Management
In pricing, there are two types of complexity. Good complexity can lead to competitive advantage if you can make it simple for customers to absorb. Bad complexity can frustrate potential customers and cause them to seek another solution. In this article, the author provides best practices for making your differentiators and value drivers easy for customers to understand.
Pricing After Merger and Acquisition
In 2021 there were more than 2,000 mergers with a deal value of more than $100 million in the US (from Statista). The received wisdom, supported by a fair amount of evidence, is that mergers often destroy value. There are many reasons for this, but one of them is pricing. Pricing is where buyers give a verdict on your offers and whether or not they are valuable. Alignment on pricing is critical to a successful merger, as the author explains.
Inflation as a Catalyst for Change
Getting ahead of rising prices in an inflationary environment is one thing; staying ahead is another. Data, technology, and savvy management can turn cost pressures into pricing opportunities, as the authors explain. Although focused on private equity, this article provides insights that can be applied by pricers dealing with the challenges of widespread inflation.
Inflation in the Subscription Economy
In the world of subscriptions, customers typically pay a fixed amount in regular intervals after having made a purchase decision on a pricing page from a set of available plans, usually differentiated by feature or time commitment. With a dollar in the future not being the same as a dollar today due to record rising inflation, the $20/month you charge customers will be worth less and less in real terms over time. While rising inflation is a legitimate concern for SaaS companies, its effects can be mitigated by planning ahead and adapting prices the right way.
In Uncertain Times, Lean Into the Power of Pricing
Just as the pandemic is (HOPEFULLY) winding down, a new crop of business challenges has arrived. These challenges include the war in Ukraine, inflation, and the possibility of wider global conflict. Now is not the time to ignore your pricing. If anything, challenging business conditions are one of the most important times to review your pricing performance and pricing strategy, as the author explains.
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