As a pricing professional, I always love to quote the study that a 1% improvement in price leads to 11% in operating profit, whereas a 1% increase in volume sold improves only by 3.3%[1]. If the business case for managing and improving price is so apparent, why don’t more companies do it?
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Topics: Negotiating with Backbone, Newsletter, Selling with Confidence
Reduce, Reuse, Recycle: Reinforcement for Lasting Change
Topics: Negotiating with Backbone, Newsletter, Selling with Confidence
The purpose of "big data" is to give managers a clearer vision of something so they can make decisions about products, pricing and distribution. In pricing, it is generally around how customers buy. It uses statistical techniques to group customers into definable segments and helps you figure out how to sell to those segments.
Topics: Newsletter, Pricing with Confidence, Selling with Confidence, Uncovering your Value
Move beyond the rabbit: sales strategy to be a game changer
Commentary from WSJ Aug 17, 2017 "How Oracle Engineered Its Sales Staff for the Cloud”
Topics: Newsletter, Selling with Confidence
The 'last mile' is a colloquial phrase widely used in the telecommunications to refer to the portion of the network chain that physically reaches the end-user's premises. This connectivity is critical; it is the link to their paying customers and allows them to receive revenue for their entire network. Without the connection there are no customers, no revenue.
Topics: Newsletter, Selling with Confidence
Lately, we've had a lot of conversations with businesses that are ramping up "strategic pricing". They've adopted more systematic approaches to pricing and have taken responsibility for setting prices away from salespeople. This transitions price away from the team worried about closing a sale to specialized pricing people who are worried about generating profits that meet company goals. That's terrific. Well, it might be terrific for some, but it's not terrific for the sales force that is struggling with this new pressure and, like many sales forces, now calls the pricing people the "sales prevention" department.
Topics: Selling with Confidence
With astonishing speed, Uber has disrupted the taxicab industry. Others have looked at their success and dreamed of emulation. The strategy often touted for Uber’s success is surge pricing; charging higher prices at times of high demand. Surge pricing is an example of dynamic pricing, where the price fluctuates depending on one or more factors, like the demand for ride service.
Topics: Newsletter, Pricing with Confidence, Selling with Confidence
We meet and work with sales managers all over the globe and a question we are asked frequently is, “Why can’t my sellers close the deal?” It is an important question to consider, but we must first establish a few assumptions.
Topics: Selling with Confidence