Latest Event Updates

Six Sigma Pricing > Analyze: Identify and Understand Opportunities to Grow Margins and Create Reporting Tools to Identify Defects

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This is the fourth in a six part blog series on how manufacturers and distributors can apply Six Sigma methodology to the pricing function to generate repeatable margin gains. This blog covers the importance of effective analysis of the right measurements and metrics to identify the root causes of defects in your pricing process.

All pricing practice leaders know a disciplined process is needed to create and maintain Pricing Excellence – effective defect analysis must cover these five areas which can be major sources of variation across commercial processes:

  1. People
  2. Information
  3. Tools / Systems
  4. Environment
  5. Methods

This crucial step leverages the measurements and metrics you have mindfully constructed to identify what needs improvement and what/where are the sources of defects in the process.

A company must properly analyze anything that impacts pricing performance and then use these insights and data to make meaningful improvements that will help you achieve your business goals. The following lays out some effective methods for the analysis phase.

Cause and Effect Analysis:

  • Diagram the relationship of the 5 sources of variation
  • Build a Cause and Effect Matrix to quantify impact of each process step
  • Select key sources of variation throughout the process
  • Capture 2-3 potential root causes from diagram
  • Dig deep into controls and compensation
  • Ask why multiple times

Process Map Analysis:

  • Diagram the process and hunt for bottlenecks or other defects of each process step
  • Chart metrics to see if the process appears stable or not
  • Use Pareto Charts, Histograms, Box plots, Scatter Plots, etc. to visually determine data distribution and variation

Six Sigma Program Overview

Six Sigma Master Blackbelt Greg Preuer, of SPA has created the first course designed to apply time tested Six Sigma methodology to pricing.  Those who study with Greg will learn not only how to drive the pricing process but how to sustain the gains and automate the process.  They will become Six Sigma experts (Blackbelt) in business process with a focus placed squarely on price management.

Graduates from this course will learn to chart a clear path to pricing improvement.  They will learn each of the following steps:

  • How to design and design goals which are consistent with their company’s pricing strategy.
  • How to measure and identify characteristics critical for pricing success.
  • How to analyze the current situation and steps along the way.
  • How to design an improved alternative which moves closer to the desired result.
  • How to verify that actions taken create the right results.

A Pricing Process founded on SPA’s Six Sigma Program includes the following:

  • Negotiating strategy and tactics
  • Value-based pricing
  • Automated decision making tools
  • Customer Profitability improvement plans
  • Sales team selling value
  • Pricing strategy and leadership
  • Consistent and fair pricing architecture
  • 2 to 4% growth in GM%
  • Pricing based on customer sensitivity
  • Continuous improvement focus

To learn how you can realize the benefits of SixSigma Pricing, contact SPA today at info@strategicpricing.com or 216.455.1545.

The following are the two remaining areas we will dive into in future articles in this blog series that will help illuminate the path to Six Sigma Pricing Excellence.

  1. Improve: build processes, systems and tools to assist teams and create reporting tools to track improvements
  2. Control: set and enforce pricing authority levels and repeat previous steps as continuous improvement never stops

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Strategic Pricing Events Digest | September 2016

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Attendees of our in-person and webcasted events learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability with SPA’s proven strategic pricing processes and technology. Join us as we discuss how SPA’s Strategic Pricing Program offers significant margin improvement opportunities and can lead your company to pricing and negotiation excellence.

Upcoming SPA Events

Battle for Margin > SPASIGMA Negotiation Workshop & SPA Pricing Strategy Seminar

Date: October 27-28, 2016

Location: Aria Resort and Casino in Las Vegas, Nevada

Register Now

This big-picture seminar is focused on strategic topics of importance to the owners, CEOs, CFOs, and general managers of distribution, manufacturing, technology and services companies. Experts will address the topics essential to accelerating the customer value proposition, competitive positioning and market value of any distribution or manufacturing business. The seminar addresses the strategic, analytical, process and cultural issues that are fundamental to maximizing shareholder value. The seminar will focus on the high-level, strategic and structural issues that are easily neglected in the hustle and bustle of daily business demands. It will help you to re-focus your organization on the drivers of economic value.

Event Agenda

Thursday, October 27

8:00 am: Practice Negotiation & Critique:

  • How other cultures negotiate
  • What to avoid in a negotiation?
  • The Effectiveness of Tactics in a Negotiation
  • Planning & Preparation Process

10:15 AM:  BREAK

10:30 am: Protecting Margin:

  • Driving towards Value
  • Best practice tactics to defend margin
  • Implications of Email Negotiation
  • How not to trust assumptions by testing for evidence

12:00 PM:  LUNCH

1:00 pm: Practice Negotiation & Critique:

  • The impact of giving away free concessions
  • How to deal with difficult Buyers
  • The importance of bringing clarity to Financial decisions in a negotiation
  • Aristotle’s 3 pillars of persuasion

2:30 PM:  BREAK

2:45 pm: Practice Negotiation & Critique (finale):

  • Concession Making Strategy
  • Increasing the other party’s Satisfaction
  • Negotiating with a LTR
  • Recap of the day

5:00 PM:  ADJOURNED

  • Cocktail hour and dinner to follow at Lago in the Bellagio

 

Friday, October 28

8:00 am: Setting and Getting Price:

  • Analytics and Negotiation
  • The SPA Pricing Cube™ and Contract Pricing Tools
  • The SPA Purchasing Tools
  • Pricing Flexibility with Negotiation Discipline: SPA Pricing Bands™
  • FitRep™ Mobile Sales Reporting Tools
  • Advanced Pricing Analytics:  Gold and Platinum
  • Aligning Sales Force Incentives
  • Best-Practices Pricing Processes

9:30 AM:  BREAK

9:45 am: Moderated Best Practices Panel Discussion:

  • Fostering a sales culture focused on customer value
  • Building the Negotiation skill of your organization
  • Overcoming cultural baggage and driving behavioral change
  • How to design a sales force measurement and compensation plan that truly drives wealth creation
  • The key drivers that need to be measured; and the management review process that drives performance

10:45 AM:  BREAK

11:00 am:  Speed Reading People:

  • Instantly identify the preferred communication style of others
  • Present ideas in ways more likely to lead to “yes”
  • Recognize the natural strengths and weaknesses of other people (and your own!)
  • Quickly identify the 4 different temperaments and 16 different personality types
  • Identify appropriate selling and negotiation techniques appropriate to each
  • Use SPA’s ESPWizard tools to establish your own type as well as others’ in a couple minutes!
  • Attend an SRP Seminar to deepen your mastery of these tools

12:00 PM:  LUNCH

1:00 pm: Yellow Belt Negotiation Case Study & Critique:

  • The Importance of Preparation:  Profiling the Goals, Motivations, and Pressures
  • Negotiating Long-Term Relationships:  Structured for Success
  • The Critical Role of Personality Type in Negotiation Success
  • Leveraging Tools to Master Negotiation

2:00 pm: Upping Your Negotiation Skill Set:

How to Prepare for and Master Negotiations in Relationship Environments and Leverage Personality Type Theory:

  • Profiling the Goals, Motivations, and Pressures
  • Negotiating Long-Term Relationships:  Structured for Success
  • The Critical Role of Personality Type in Negotiation Success
  • Leveraging Tools to Master Negotiation
  • Recognize the negotiation strengths and weaknesses of different personalities
  • Develop Negotiation Strategies Appropriate to the Personalities You Deal With

4:00 pm:  Call to Action:

  • Tools and Training for Negotiation & Pricing Mastery
  • David discusses the integrated approach to winning.

4:30  PM:  ADJOURNED

 

Public Negotiation Training Seminars

SPASigma Seminars are dynamic one-day and two-day events, specially crafted to provide you with a fundamental understanding of the art and science of negotiation. Entertaining case studies, eye-opening critiques and interactive group exercises equip you with the skills and knowledge to negotiate more profitable agreements immediately.

The SPASigma training program helps you build, expand, and retain world-class negotiation skills throughout your organization. Using a unique combination of in-person seminars and an online academy with reinforcement activities, videos, and quizzes, SPASigma will set your team on the path to mastery of the art and science of negotiation.

There is an SPASIGMA seminar coming up in a major city near you. We offer public seminars in 30 cities throughout the United States and Canada. Enjoy making new contacts with business professionals from a variety of industries and disciplines. If you want negotiation training for yourself and a few colleagues, a public seminar is a great choice.

Click here for a list of cities and dates

Improved pricing increases profit – Negotiation excellence defends profit

Negotiation is like a sport. It requires specific skills, techniques, training, coaching, equipment and continuous practice. SPASigma offers the systematic, holistic, long-term approach professional business people need in order to achieve true mastery of this critical skill-set.

COURSE DETAILS

Learn how to…

  • Plan and Prepare
  • Probe for information
  • Use powerful tactics as well countermeasures
  • Talk value and not price
  • Say ‘No’
  • Properly make concessions
  • Take more risk
  • Persuade
  • Increase opponent satisfaction and a lot more

WHO ATTENDS?

  • C-Level Executives
  • Owners and Management
  • Sales & Marketing Professionals
  • Purchasing Professionals
  • Product Managers
  • Engineers
  • Project Managers

Type of negotiation hurdles addressed?

  • “You need to do better than that”
  • “Your competition is a lot cheaper”
  • “This is all the money I have in my budget”
  • “Your competition wouldn’t treat us this way”
  • “I need your best price by 4pm today”

If you have ever heard any of these statements above, you need to participate in a SPASigma Competitive Negotiation Seminar.

Click here to learn more and find a negotiation seminar in your area.

Upcoming Webinars

webinar-series-image

Reporting Tool: Measure Achieved and Potential Margin Impact of Strategic Pricing

Wednesday, September 7, 2016 @ 2:00 PM Eastern

Topics Covered:

  • Understand achieved and potential impact from “The SPA Pricing Cube”
  • Uncover missed opportunities and lost pricing dollars
  • Rank pricing performance of Sales Reps, Order Writers, Branches, Vendors and Product Categories
  • Understand and manage your Pricing Methods Mix
  • Highlight trends as well as monitor and manage performance over time

Click here to register

 

Contract Management Tool: Workflow Tool for Automated Management of Contracts & Special Pricing Agreements

Thursday, September 8, 2016 @ 2:00 PM Eastern

Topics Covered:

  • Identify and fix underperforming Contracts and Special Pricing Agreements
  • Choose from SPA Recommended Prices, Capped Prices, or GM% / Discount% Targets
  • What if modeling of price changes and batch updating
  • Quantify the value of underperformance
  • Export new pricing for automated upload to ERP
  • Pass along vendor cost increases
  • Manage Annual Review Process – never miss a window of opportunity again

Click here to register

 

Price Basis Optimization Tool: Capture Incremental Margins without Changing Your Sales Process

Tuesday, September 13, 2016 @ 2:00 PM Eastern

Analytical pricing tool designed to identify and capture available margin by setting optimized list/base prices without changing your sales team’s Cost+ behavior.

  • How to make money with Strategic Costing
  • Mechanics of Strategic Costing
  • Ease of implementation; no change management
  • Quick ROI

Click here to register

 

SPA Pricing Cube: Increasing Margins by Upgrading to Gold

Wednesday, September 14, 2016 @ 2:00 PM Eastern

Topics Covered:

  • Functional differences you gain with the Gold Pricing Cube
  • How you can make more money with the Gold Pricing Cube
  • No upfront preparation is needed for the upgrade
  • Use of the SPA Reporting tool is included with upgrade

Click here to register

 

SPASigma: Negotiation Training Seminars and Learning Management System

Thursday, September 15, 2016 @ 2:00 PM Eastern

Typically, salespeople are trained to sell, buyers are trained to buy. Buying and selling skills provide one component, but the subject of negotiation is vast and complex. Once exposed to formal negotiation training, experienced professionals are often amazed to learn of the vital areas of opportunity only visible through the lens of negotiation.

SPASigma Seminars are dynamic one-day and two-day events, specially crafted to provide you with a fundamental understanding of the art and science of negotiation. Entertaining case studies, eye-opening critiques and interactive group exercises equip you with the skills and knowledge to negotiate more profitable agreements immediately.

Learning Management System

  • Platform to ensure long-term retention
  • Monthly 1-Hour Webinar/Video with Exercises, Games and Testing
  • Best in Class platform accessible on any device
  • Tracking of individual performance
  • Certification Levels: White Belt, Yellow, Green, Black, Master Black Belt
  • Social Recognition

Click here to register

 

SPA Pricing Cube: Improving Margins Through a More Strategic Approach to Pricing

Friday, September 16, 2016 @ 2:00 PM Eastern

Attendees will learn how to address the following all too common issues and opportunities for increasing profitability:

  • Customer relationships focused on product/service value, not price
  • Identifying and capturing available margin premiums
  • Identifying price-sensitive products and services
  • Improving sales reps’ confidence in prices
  • Stopping undisciplined discounting
  • Tracking metrics for sales force accountability
  • Improving pricing consistency and fairness

This webcast draws on SPA’s experience working with hundreds of companies to drive pricing gains of 2-4 margin points on affected revenue with minimal customer pushback.

Click here to register

 

Price Banding: Automated Tools to Assist Sales Team Drive Margin and Commission Growth

Monday, September 19, 2016 @ 2:00 PM Eastern

Sales people say “It’s like having a negotiation expert working alongside you!”

Learn how your sales team can:

  • Win more business
  • Maximize order margin
  • Grow commissions
  • Identify cross sell opportunities

Click here to register

 

Implementing Strategic Pricing for Non Stock and Rockwell Business

Tuesday, September 20, 2016 @ 2:00 PM Eastern

Attend the webinar to learn the solutions to these business challenges.

Non Stock Pricing Challenges

  • How to price non stock business strategically?
  • Leverage Strategic Pricing Associate tools when selling non stock products
  • Drive margin % gains across all sales
  • Maintain price continuity across product families

Rockwell Automation Pricing Challenges

  • How to price Rockwell business strategically?
  • Keep connection with published distributor prices
  • Discount classification and suggested resale discount pricing matrix
  • Leverage Strategic Pricing tools when selling Rockwell products
  • Maintain continuity across product categories

Click here to register

 

Platinum Pricing Engine: Learn How to Leverage the Platinum Analytical Pricing Engine to Drive Profitable Growth

Wednesday, September 21, 2016 @ 2:00 PM Eastern

Topics Covered:

  • Functional differences you gain with the Platinum Pricing Cube
  • How you can make more money with the Platinum Pricing Cube
  • No upfront preparation is needed for the upgrade
  • Use of the SPA Reporting tool is included with upgrade

Click here to register

 

SPA Vendor Management Tool: Identify Cost Savings Opportunities

Thursday, September 22, 2016 @ 2:00 PM Eastern

Topics Covered:

  • The cost management challenge
  • Why distributors struggle to effectively manage costs across their product portfolios
  • Missed cost decrease opportunities typically represent 2% to 3% of COGS
  • Patterns of missed cost savings opportunities SPA has observed by analyzing the data of its clients
  • Discussion of the analytical factors SPA leverages in its assessment of the relative cost positions of various vendors and its quantification of the savings opportunity
  • Demo of SPA’s vendor cost management tool
  • Upcoming tool enhancements
  • Client data requirements for tool and overview of the setup process
  • Q&A

Click here to register

 

Six Sigma Strategic Pricing Course: How to Leverage 6 Sigma Methodology to Drive Profitable Growth

Friday, September 23, 2016 @ 2:00 PM Eastern

This webinar will provide an overview of SPA’s Six Sigma Strategic Pricing Course. Six Sigma Master Blackbelt Greg Preuer, of SPA has created the first course designed to apply time tested Six Sigma methodology to pricing. Those who study with Greg will learn not only how to drive the pricing process but how to sustain the gains and automate the process. They will become Six Sigma experts (Blackbelt) in business process with a focus placed squarely on price management.

Graduates from this course will learn to chart a clear path to pricing improvement. They will learn each of the following steps:

  • How to design and design goals which are consistent with their company’s pricing strategy.
  • How to measure and identify characteristics critical for pricing success.
  • How to analyze the current situation and steps along the way.
  • How to design an improved alternative which moves closer to the desired result.
  • How to verify that actions taken create the right results.

Click here to register

 

e-Commerce: Learn How to Strategically Price Your e-commerce Business to Capture Market Share or Capture More Margin

Thursday, September 29, 2016 @ 2:00 PM Eastern

Topics Covered:

e-Commerce Offensive Pricing Strategy

  • Gain market share, but with lower GM% expectations.
  • Price levels will be more aggressive than current business.
  • No customer loyalty, choices based on each transaction.
  • Use economic or price fighting brands.
  • Leverage channel specific pricing with web as portal to it.
  • 3 click process to place an order drives higher conversion rates … search engine optimization (seo).
  • Automated self-service models needed to answer customer questions.
  • Be aware of price method mix shift, with existing customers moving to the web … build fences.
  • Measure ROI to ensure delivering.
  • And more…

e-Commerce Defensive Pricing Strategy

  • e-commerce provides value added services to your exist customers.
  • Drives operational efficiency inside your business.
  • Leverage ecommerce to extend your current strategic pricing model to new customers.
  • Uncover and attack the natural variation that exists in the market.
  • Leverage channel specific pricing with web as portal to it.
  • Don’t advantage new customers with better price levels.
  • And more…

Click here to register

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Pricing Situations Can Spoil a Selling Situation

Posted on Updated on

A recent The Distributor Channel article, “Fall Tune Up for Distributors,” discusses how distributors should re-evaluate their sales management process to maximize selling time and implement effective pricing tools and price negotiation practices to avoid training their clients to expect discounts.

Excerpts of the article follow.

“What takes salespeople away from selling?”

Operational issues are a major source of sales distraction.  Think back to the last time you went out with a member of your sales team.   Was a portion of the sales call devoted to discussing shipping errors, delivery issues or a poorly handled customer service issue?  Nothing sours a well-planned sales call like a little back peddling early in the meeting.  It’s hard to sell “ease of doing business” when you just cost your customer money based on something easily avoidable.

What’s worse for many distributor managers is this:  Most lack the data to determine if their growth problems are based on a sloppy warehouse and a crappy customer service department or an ineffective sales team.  Some wonder if customer issues with missed delivery dates or inaccurate shipments are just part of the “distributor sales game.”  With this in mind, one would wonder if gathering administration and logistics data shouldn’t be a standard procedure for every distributor.   We think it should be.

“Pricing situations can spoil a selling situation.” 

While we could argue that price negotiations are an integral to selling, I believe we need to explore a couple of points.

First, unless you have accurate pricing information loaded into your ERP system, just arriving at a valid price provides a selling distraction.  Each transaction requires additional research.  Every time a salesperson quotes an amount to a customer, a dozen questions flash through their mind.  Is the price right?  What price did we use last time?  Could someone in customer service have priced this differently?   Where do we sit compared to the competition?  And more.

“Not only is time spent researching for the right price, we also create doubt and uncertainty.” 

When the salesperson guesses incorrectly, it creates additional distraction.  The salesperson spends even more precious selling time fixing the issue.

“Secondly, when no selling process exists, the salesperson is stuck negotiating every single sale. 

To summon up something said by my friend and pricing expert David Bauders of Cleveland-based Strategic Pricing Associates, you never see a dog beg just once.  His point is simple: If you give your dog table scraps one time, they turn into constant beggars.  When our salespeople lower their prices once, the customer becomes conditioned to request a lower price on each opportunity.  Negotiations take away from, you guessed it, selling.

Unless the distributor employs a full-on pricing process, salespeople are left to determine price.  Customers bombard them with the message “your price is too high,” and it ruins the selling moment.  This constant bombardment of negative energy causes many sellers to lose perspective on the value their organization provides to customers.   Sales experiences, without the presence of value-creating solutions, are about as exciting as the paint page of the 1964 Sears catalog.

Click here to read the complete article.

SPA Events

Battle for Margin > SPASIGMA Negotiation Workshop & SPA Pricing Strategy Seminar

Date: October 27-28, 2016

Location: Aria Resort and Casino in Las Vegas, Nevada

Register Now

Click here for other SPA event dates and times.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

SPASigma Negotiation Training Seminar Series

Posted on

SPASigma Seminars are dynamic one-day and two-day events, specially crafted to provide you with a fundamental understanding of the art and science of negotiation. Entertaining case studies, eye-opening critiques and interactive group exercises equip you with the skills and knowledge to negotiate more profitable agreements immediately.

The SPASigma training program helps you build, expand, and retain world-class negotiation skills throughout your organization. Using a unique combination of in-person seminars and an online academy with reinforcement activities, videos, and quizzes, SPASigma will set your team on the path to mastery of the art and science of negotiation.

PUBLIC SEMINARS

There is an SPASIGMA seminar coming up in a major city near you. We offer public seminars in 30 cities throughout the United States and Canada. Enjoy making new contacts with business professionals from a variety of industries and disciplines. If you want negotiation training for yourself and a few colleagues, a public seminar is a great choice.

CUSTOMIZED ON-SITE SEMINARS

Do you need to train your team? If so, SPASIGMA will work with you to create a customized on-site seminar just for you. Customized seminars are an excellent choice if you want specialized negotiation training geared to the specific needs of your team. We can deliver the training on-site or at a location of your choice.

Email customerservice@spasigma.com for more information.

Click here for a list of cities and dates

 

Improved pricing increases profit – Negotiation excellence defends profit

SPASigma’s parent company, Strategic Pricing Associates (SPA) is the leading provider of pricing analytics to complex companies around the world. Since 1993, SPA has helped companies quickly and easily maximize their pricing performance and competitive position. A typical client improves profitability by two to four percent of sales. The benefits are staggering; and they are typically accomplished in less than 90 days.

But pricing is only half the battle. That’s where SPASigma comes in – SPASigma provides a path to negotiation mastery.

Negotiation is like a sport. It requires specific skills, techniques, training, coaching, equipment and continuous practice. SPASigma offers the systematic, holistic, long-term approach professional business people need in order to achieve true mastery of this critical skill-set.

WHAT’S IN IT FOR YOU?

What does success mean to you?  More money, more power, bigger orders,  higher customer satisfaction, strong business relationships, and hey, maybe even getting a sweet deal when you buy a new car.  Whatever your version of success is, SPASigma makes it that much better.

HOW IT WORKS?

SPASigma believes in a powerful new concept called “Edutainment.” Human beings learn better when they’re having a good time.  Our action packed one day seminar is guaranteed to make you laugh and keep you fully engaged.  No death by PowerPoint and no hours upon hours of lecture.  Our seminars are fast paced, interactive and, of course,  eye opening.

Click here to read “An Interview with Tony Perzow – Negotiation Strategy Expert”

WHO ATTENDS?

  • C-Level Executives
  • Owners and Management
  • Sales & Marketing Professionals
  • Purchasing Professionals
  • Product Managers
  • Engineers
  • Project Managers

Type of negotiation hurdles addressed?

  • “You need to do better than that”
  • “Your competition is a lot cheaper”
  • “This is all the money I have in my budget”
  • “Your competition wouldn’t treat us this way”
  • “I need your best price by 4pm today”

If you have ever heard any of these statements above, you need to participate in a SPASigma Competitive Negotiation Seminar.

COURSE DETAILS

Learn how to…

  • Plan and Prepare
  • Probe for information
  • Use powerful tactics as well countermeasures
  • Talk value and not price
  • Say ‘No’
  • Properly make concessions
  • Take more risk
  • Persuade
  • Increase opponent satisfaction and a lot more

Click here to learn more and find a negotiation seminar in your area.

Tom Bylow

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

SPA Pricing Analytics & Decision Making Tools Webinar Series | August 2016

Posted on

Now it is easier than ever to make time to learn about the latest strategic pricing and negotiation tools and techniques. If the dates don’t work for you or you have to miss a session – reach out to us for access to a recording of the webinar.

Webinar Series Overview

We’re excited to announce the August dates for our series of new webinar sessions that we will be conducting on a monthly recurring basis.

Our pricing education, analytics, and decision making focused webinars will be both educational and practical, informing you about what we do, and how our products and services will significantly improve your financial performance.

The following is just one of many testimonials about the impact of implementing strategic pricing.

“SPA has taught us a lot about using our data to make better decisions. Our pricing decisions are based on facts, which make our decisions much more powerful. The improvements our company has seen are bottom line improvements. We make more money today than we did before. We have done better every year. We have done marvelous things to the bottom line… We have found that the bottom half of your business can have a significant impact on your bottom line. It’s been a wonderful relationship! They are quick to respond and it’s been wonderful. If anyone would like to make more money they should sign up now.”

– Automotive Distributor

Click here to read SPA Client Testimonials

August Pricing Analytics and Decision Making Tools Webinar Series Schedule

These webcasts draw on SPA’s experience working with hundreds of companies to drive pricing gains of 2-4 margin points on affected revenue with minimal customer pushback.

Register for some of this month’s webinars for an inside look at how the SPA team can help your company make smarter, better-informed pricing decisions across your entire business.

 

Pricing Analytics Tools

 

SPA Pricing Cube: Improving Margins Through a More Strategic Approach to Pricing

Friday, August 12 at 2:00 PM Eastern | Thursday, August 25 at 2:00 PM Eastern

Attendees will learn how to address the following all too common issues and opportunities for increasing profitability:

  • Customer relationships focused on product/service value, not price
  • Identifying and capturing available margin premiums
  • Identifying price-sensitive products and services
  • Improving sales reps’ confidence in prices
  • Stopping undisciplined discounting
  • Tracking metrics for sales force accountability
  • Improving pricing consistency and fairness

This webcast draws on SPA’s experience working with hundreds of companies to drive pricing gains of 2-4 margin points on affected revenue with minimal customer pushback.

Register for August 12 here: https://attendee.gotowebinar.com/register/2343360921009427715

Register for August 25 here: https://attendee.gotowebinar.com/register/967914755615954691

 

 

Strategic Costing

Tuesday, August 9 at 2:00 PM Eastern

Topics Covered:

  • How to make money with Strategic Costing
  • Mechanics of Strategic Costing
  • Ease of implementation; no change management
  • Quick ROI

Register here: https://attendee.gotowebinar.com/register/6365240314995801603

 

Decision Making Tools

 

Reporting Tool: Measure Achieved and Potential Margin Impact of Strategic Pricing

Wednesday, August 3 at 2:00 PM Eastern

Topics Covered:

  • Understand achieved and potential impact from “The SPA Pricing Cube”
  • Uncover missed opportunities and lost pricing dollars
  • Rank pricing performance of Sales Reps, Order Writers, Branches, Vendors and Product Categories
  • Understand and manage your Pricing Methods Mix
  • Highlight trends as well as monitor and manage performance over time

Register here: https://attendee.gotowebinar.com/register/3034186275764470275

 

Contract Management Tool: Workflow Tool for Automated Management of Contracts & Special Pricing Agreements

Thursday, August 4 at 2:00 PM Eastern

Topics Covered:

  • Identify and fix underperforming Contracts and Special Pricing Agreements
  • Choose from SPA Recommended Prices, Capped Prices, or GM% / Discount% Targets
  • What if modeling of price changes and batch updating
  • Quantify the value of underperformance
  • Export new pricing for automated upload to ERP
  • Pass along vendor cost increases
  • Manage Annual Review Process – never miss a window of opportunity again

Register here: https://attendee.gotowebinar.com/register/7415239834661287683

 

Implementing Strategic Pricing for Non Stock and Rockwell Business

Tuesday, August 16 at 2:00 PM Eastern

Attend the webinar to learn the solutions to these business challenges.

Non Stock Pricing Challenges

  • How to price non stock business strategically?
  • Leverage Strategic Pricing Associate tools when selling non stock products
  • Drive margin % gains across all sales
  • Maintain price continuity across product families

Rockwell Automation Pricing Challenges

  • How to price Rockwell business strategically?
  • Keep connection with published distributor prices
  • Discount classification and suggested resale discount pricing matrix
  • Leverage Strategic Pricing tools when selling Rockwell products
  • Maintain continuity across product categories

Register here: https://attendee.gotowebinar.com/register/7320653247370516995

 

SPA Vendor Management Tool: Identify Cost Savings Opportunities

Thursday, August 18 at 2:00 PM Eastern

Topics Covered:

  • The cost management challenge
  • Why distributors struggle to effectively manage costs across their product portfolios
  • Missed cost decrease opportunities typically represent 2% to 3% of COGS
  • Patterns of missed cost savings opportunities SPA has observed by analyzing the data of its clients
  • Discussion of the analytical factors SPA leverages in its assessment of the relative cost positions of various vendors and its quantification of the savings opportunity
  • Demo of SPA’s vendor cost management tool
  • Upcoming tool enhancements
  • Client data requirements for tool and overview of the setup process
  • Q&A

Register here: https://attendee.gotowebinar.com/register/1649311798162526211

 

Price Banding: Automated Tools to Assist Sales Team Drive Margin and Commission Growth

Wednesday, August 24 at 2:00 PM Eastern

Sales people say “It’s like having a negotiation expert working alongside you!”

Learn how your sales team can:

  • Win more business
  • Maximize order margin
  • Grow commissions
  • Identify cross sell opportunities

Register here: https://attendee.gotowebinar.com/register/6295876524446324483

 

Other SPA Events

Click here for other SPA event dates and times including our Pricing Education webinar series and our Battle for Margin Conferences.

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

SPA Pricing Education Webinar Series | August 2016

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Now it is easier than ever to make time to learn about the latest strategic pricing and negotiation tools and techniques. If the dates don’t work for you or you have to miss a session – reach out to us for access to a recording of the webinar.

Webinar Series Overview

We’re excited to announce the August dates for our series of new webinar sessions that we will be conducting on a monthly recurring basis.

Our pricing education, analytics, and decision making focused webinars will be both educational and practical, informing you about what we do, and how our products and services will significantly improve your financial performance.

The following is just one of many testimonials about the impact of implementing strategic pricing.

“SPA has taught us a lot about using our data to make better decisions. Our pricing decisions are based on facts, which make our decisions much more powerful. The improvements our company has seen are bottom line improvements. We make more money today than we did before. We have done better every year. We have done marvelous things to the bottom line… We have found that the bottom half of your business can have a significant impact on your bottom line. It’s been a wonderful relationship! They are quick to respond and it’s been wonderful. If anyone would like to make more money they should sign up now.”

– Automotive Distributor

Click here to read SPA Client Testimonials

 

August Pricing Education Webinar Series Schedule

These webcasts draw on SPA’s experience working with hundreds of companies to drive pricing gains of 2-4 margin points on affected revenue with minimal customer pushback.

Register for some of this month’s webinars for an inside look at how the SPA team can help your company make smarter, better-informed pricing decisions across your entire business.

 

Six Sigma Strategic Pricing Course: How to Leverage 6 Sigma Methodology to Drive Profitable Growth

Monday, August 8 at 2:00 PM Eastern

This webinar will provide an overview of SPA’s Six Sigma Strategic Pricing Course. Six Sigma Master Blackbelt Greg Preuer, of SPA has created the first course designed to apply time tested Six Sigma methodology to pricing. Those who study with Greg will learn not only how to drive the pricing process but how to sustain the gains and automate the process. They will become Six Sigma experts (Blackbelt) in business process with a focus placed squarely on price management.

Graduates from this course will learn to chart a clear path to pricing improvement. They will learn each of the following steps:

  • How to design and design goals which are consistent with their company’s pricing strategy.
  • How to measure and identify characteristics critical for pricing success.
  • How to analyze the current situation and steps along the way.
  • How to design an improved alternative which moves closer to the desired result.
  • How to verify that actions taken create the right results.

Register here: https://attendee.gotowebinar.com/register/443702795863938051

 

SPASigma: Negotiation Training Seminars and Learning Management System

Thursday, August 11 at 2:00 PM Eastern

Typically, salespeople are trained to sell, buyers are trained to buy. Buying and selling skills provide one component, but the subject of negotiation is vast and complex. Once exposed to formal negotiation training, experienced professionals are often amazed to learn of the vital areas of opportunity only visible through the lens of negotiation.

SPASigma Seminars are dynamic one-day and two-day events, specially crafted to provide you with a fundamental understanding of the art and science of negotiation. Entertaining case studies, eye-opening critiques and interactive group exercises equip you with the skills and knowledge to negotiate more profitable agreements immediately.

Learning Management System

  • Platform to ensure long-term retention
  • Monthly 1-Hour Webinar/Video with Exercises, Games and Testing
  • Best in Class platform accessible on any device
  • Tracking of individual performance
  • Certification Levels: White Belt, Yellow, Green, Black, Master Black Belt
  • Social Recognition

Register here: https://attendee.gotowebinar.com/register/3946629194214226947

 

e-Commerce: Learn How to Strategically Price Your e-commerce Business to Capture Market Share or Capture More Margin

Tuesday, August 23 at 2:00 PM Eastern

Topics Covered:

eCommerce Offensive Pricing Strategy

  • Gain market share, but with lower GM% expectations.
  • Price levels will be more aggressive than current business.
  • No customer loyalty, choices based on each transaction.
  • Use economic or price fighting brands.
  • Leverage channel specific pricing with web as portal to it.
  • 3 click process to place an order drives higher conversion rates … search engine optimization (seo).
  • Automated self service models needed to answer customer questions.
  • Be aware of price method mix shift, with existing customers moving to the web … build fences.
  • Measure ROI to ensure delivering.
  • And more…

eCommerce Defensive Pricing Strategy

  • ecommerce provides value added services to your exist customers.
  • Drives operational efficiency inside your business.
  • Leverage ecommerce to extend your current strategic pricing model to new customers.
  • Uncover and attack the natural variation that exists in the market.
  • Leverage channel specific pricing with web as portal to it.
  • Don’t advantage new customers with better price levels.
  • And more…

Register here: https://attendee.gotowebinar.com/register/1104873222506515715

 

Other SPA Events

Click here for other SPA event dates and times including our Pricing Analytics and Decision Making tool webinar series, respectively.

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Client Testimonial: Rockwell Automation

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Rockwell Automation, “the world’s largest company dedicated to industrial automation and information”, partnered with SPA to build list prices using a market-sensitive approach focused on limiting discounting and to improve its contract renewal process by identifying leakage points.

SPA provided Rockwell’s US, European, Asian, and Latin American businesses with their Product Sensitivity Profiling to build list prices using a market-sensitive approach focused on limiting discounting to products where discounting is demonstrated to produce results. Using SPA’s proprietary Price Indexing methodology, they helped Rockwell improve its contract renewal process by identifying leakage points.

SPA also developed a Distributor Strategic Pricing program for the Rockwell channel prices based on market value, not cost, resulting in increased profitability. Leading distributors, including OneSource, Van Meter, Codale, Reynolds Company, Fromm and Revere Electric have completed this program.

“Before we met the folks at SPA, our basic approach to pricing was a “peanut butter” approach…”

          – Tim McCarthy, Global Director of Contracts & Pricing | Rockwell Automation

“We applied a standard increase to a product family with no differentiation based on our customer’s buying behavior.”

We applied a standard increase to a product family with no differentiation based on our customer’s buying behavior.  SPA’s analytics allowed us to view our products from our customer’s perspective and to classify the products into high- and low-sensitivity categories, providing us a whole new set of insights on our customers. We like to use the milk and toothpick analogy to describe what SPA does:  Customers know what they are paying for milk but they don’t know what they are paying for toothpicks and they really don’t care.  SPA’s process builds on this notion.

“Because a significant amount of our business is under agreements, we were going from year to year realizing little to no price yield, year over year.”

Because a significant amount of our business is under agreements, we were going from year to year realizing little to no price yield, year over year. Within a 3-4 month period of starting the analysis with SPA, we saw significant gains. Now we are applying what we’ve learned to Latin America, Asia Pacific and are working through the process a second time  for U.S. pricing.  And we expect to see more improvements in our business.

“Without SPA’s involvement, our distributors would not have been as receptive as they were…” 

SPA also helped us roll this out to our distributors.  Without SPA’s involvement, our distributors would not have been as receptive as they were; I’m certain that, had we done this without SPA, we would have gotten pretty significant push back. We worked hand in glove with SPA, and there were no surprises.

“Our work with SPA has been very successful.”

This has been pretty painless — we’ve been surprised at how little pushback we have gotten, both internally and externally. And after seeing one year of results, it’s been an even easier sell.

Our work with SPA has been very successful.

Click here to read more SPA client testimonials.

SPA Events

Click here for other SPA Seminar dates and locations and click here for upcoming SPA webcasts.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.