Pricing is an excellent lever for increasing a company’s profitability without large investments. Optimizing a company’s pricing strategy is about understanding the underlying drivers of customer value and paying attention to the details in terms, targets and KPIs. It will be achieved by using fact-based insights and practices and challenging previously established myths and practices.
Working with the entire pricing process is often a cross company effort. That is why we take a holistic view when working with pricing. For us that means both making sure that all parts of a winning pricing concept are there and that any changes really are implemented. We work with customers that are in any stage if the journey whether it is about finding the right pricing strategy or implementing a new discount structure, but we always make sure we don’t deliver desktop products. Depending on industry and product/service we have a historic price effect of 2-9%. That means a direct revenue increase entirely hitting the bottom line.
Pricing can be a sensitive subject, from a technical-, business- and individual standpoint, which can make change troublesome. To make sure you are moving in the right direction and to make everyone believe in that direction, proper data analysis is needed. By working jointly with people and numbers we find that it is possible to challenge old myths and truly make strides in a narrow time-frame. We often help clients set up monitors and tools for analysis that end up becoming vital reporting instruments that increase longevity of any implemented change.
We are here to help you! Reach out to us and we can together figure out how we can tackle your challenges.