Our Event Digests are a compilation of info about upcoming events hosted by SPA, 3rd party events where we will participate, and highlights from recent ones.
Join us for a webcast to learn how Kellermeyer has leveraged SPA’s strategic pricing tools to increase profits significantly. This 60-minute webcast will start at 2:00 PM EST and will feature Jill Kegler, President and CEO at Kellermeyer Company which is a 60+ year old business specializing in distribution of janitorial supplies and industrial packaging. She will share Kellermeyer’s journey to pricing excellence, how they are learning to leverage science-based strategic pricing tools to increase margins, her personal experiences with the tools, and advice that will provide you with a wealth of practical knowledge! Click here to read the Kellermeyer testimonial.
SPA’s Dave Lienert will also discuss how our solutions, which leverage experience from working with hundreds of companies to drive 2-4 margin point gains on affected revenue with minimal customer pushback, can help your company. 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
Learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability. This big-picture seminar is focused on strategic topics of importance to the owners, CEOs, CFOs, and general managers of distribution and manufacturing 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.
Attendees will learn best-practice strategies and tactics to:
- Achieve faster growth and market-leading profitability
- Develop stronger customer relationships
- Maximize your company’s valuation
- Drive real change in sales force culture
- Break the cycle of undisciplined pricing
- Build a sales process based on customer value
- Quantify and Communicate Customer Value
- Achieve pricing flexibility with discipline
- Improve operational efficiency with reporting and analytics
Existing clients can also attend a free 3-hour training workshop June 5, 2014 that will cover essential analytical, process, metrics, and cultural issues surrounding Strategic Pricing.
Space is extremely limited for this no-cost seminar so contact Sheri Morford at Sheri.Morford@strategicpricing.com, call her at 216.455.1544, or click here to register online soon.
Join SPA for a Pricing Strategy Seminar at the Ritz Carlton to be held July 2 in San Francisco, CA.
Join SPA for a Pricing Strategy Seminar at the Hotel Bristol in Vienna, Austria.
SPA will be participating in the Eclipse User Group Conference at the Hilton Atlanta Airport Hotel in Atlanta, GA.
This webcast featured Dave Sleppy, Pricing Administrator at Triad Technologies, LLC, a long-standing and well-respected industrial distributor, who shared Triad’s journey to pricing excellence and how they have implemented a science-based strategic pricing approach to increasing margins.
Triad’s experiences and advice that provided attendees with a wealth of practical knowledge included the following:
Without SPA Tools
- Inconsistent pricing to the customer
- No approval process for customer price qualifications
- No systematic reviews of pricing effectiveness
- Manual price overrides
- Extensive manual editing of order line item pricing
With SPA Tools
- 90 days to results
- Improved pricing discipline and consistency
- Pricing architecture the foundation for margin improvement
- Transition from cost-plus mentality to pricing on market value
- Several persons on our sales staff have seen significant increases in their commissions by letting SPA pricing work for them
SPA’s Dave Lienert also discussed how our solutions, which leverage experience from working with hundreds of companies to drive 2-4 margin point gains on affected revenue with minimal customer pushback, can help your company.
Epicor Insights Conference
SPA was proud to present at and conduct a client training workshop during the 2014 Epicor Insights Conference in Las Vegas, NV. Epicor and SPA have collaborated to develop an add-on Strategic Pricing Module and related data services. Click here to learn more about the Epicor-SPA Program.
Affiliated Distributors Conference
SPA was honored to present in multiple sessions at the Affiliated Distributors Conference at the Arizona Grand in Phoenix, AZ.
The article, authored by Frank E. Hurtte Jr. who has 28 years of distribution industry experience and a lifetime in sales, includes a number of critical points made by presenters and attendees who openly shared a number of timely and thought provoking ideas. A selection of some of the best points and comments follows.
Tom Gale (Modern Distribution Management)
- 63% of distributors has some form of e-commerce offering
- 70+% of distributors plan to invest further in e-commerce in 2014
- Only 21% see on-line only players as their biggest competitive threat
- By the end of 2014 nearly half of all distributors will have a “mobile app”
- High performing distributors have a growing edge in the analytics of their business
Jonathan Bein (Real Results Marketing)
“The Lake Wobegon Effect …where all the children are above average”
Most companies tend to overestimate their strengths in the market. According to a survey, 90% of distributors believe they offer more value than their competitors. Only a very small percentage of distributors can elaborate on their value. Most say we provide better “customer service.”
Comment from a distributor who had added important gross margin increases via SPA:
“We had implemented an internal pricing process several years ago. We made a slight gain in our overall gross margin but within six months, most of the gains had slipped away. What we lacked was the deep dive metrics required to hold our salespeople accountable.”
Comment from a distributor talking about sales process:
“Before we started setting measures of success and managing against them, our sales team was like a day in the Wild West. Every salesperson ran their territory like the Lone Ranger, often without regard to how this impacted the profitability of the company. Since implementing a system with measures that can be pushed down to the sales territory level, things have started to change for the better.”
Frank Hurtte’s Final Thoughts
“As a senior advisor to over 50 distribution companies, I find it hard to believe that anyone would put off exploring a plan that can deliver 500% return on investment. The SPA Strategy Seminars are eye opening and always give me pause. Further, the sessions are free to distribution leadership and conducted in a way that encourages networking. If you haven’t been to one, I encourage you to get information on SPA ‘s next Strategy Seminar.”
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.