Measuring the Impact of Pricing Initiatives
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.
Digital Selling is Key to Winning B2B in COVID-19
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.
This is The Most Important Pricing Trend of 2021
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.
Excerpt from “Selecting a Strategy for Market Leadership”
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.”
B2B Pricing and Sales Software: Knowing When It Is Time to Invest
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.
Digital Pricing Transformations: The Key to Better Margins
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.
Fifty Shades of Pricing
When the world was less standardized and more of an open market (say before 1861 when John Wanamaker introduced the price tag in Philadelphia), it was the norm for tradespeople to await the buyer’s first offer and then negotiate up. However, the subsequent swing towards an almost unified approach to stated price shifted negotiation power considerably over to the seller. Should we be seeking a more balanced approach?
Can You Identify Your Best Customers?
Can you identify your best customers? It sounds like a simple question. You may think, “of course we know who our best customers are!” But what actually constitutes a good customer? Can you articulate it? The very customers who by one metric (returns) would appear to be the worst were actually the most profitable. Conversely, customers that may appear to be your best may actually be hurting your company. How can we tease this out?
2021: The Year Your Business Bounced Back – Unexpectedly
Many hope that 2021 will see an eventual return to normalcy (as much as possible), but it’s hard to know what 2021 has in store. Yet, despite the uncertainty, there are a couple of practical reflections that can help many businesses get ahead in 2021 in terms of revenue growth—whether that looks like recovering a damaged financial statement or accelerating an already revving profit engine.
When to Price Predictive Analytics
Many companies are adding some form of predictive analytics to their offers. This is true across all sorts of businesses that collect a lot of data in the normal course of operations. At the same time, the rapid advances in machine learning since 2007 have made it much easier to develop predictive learning applications, and many companies are rushing to take advantage. But how do you package and price this new functionality?
PPS December 2020 Survey of Today’s Pricing Professional
The Professional Pricing Society’s December 2020 survey of pricing professionals received 752 responses from a cross section of industries across the globe. PPS conducts surveys with the hope that this information provides a good synopsis of where pricing stands as a career option while also providing a good demonstration of pricing’s status in the business world. For more information, please email contactus@pricingsociety.com.
How to Introduce Usage-Based Pricing
Usage-based pricing is one of the themes in 2021. Both product-led growth and service-led growth strategies work best when there is an element of usage-based pricing. But where to start? In this article, the author walks through the best way to layer in usage-based pricing.
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