Are you interested to learn about the Strategic Pricing approach to increasing margins and the strategy that can lead to pricing excellence? Are you new on the journey to pricing excellence and need more information on how to leverage science-based tools to increase margins significantly?
- 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
SPA helps clients to quickly and efficiently build a more profitable pricing architecture. We work with our clients to segment their customer base and product/service sets. We profile the relative sensitivity of customers and products, to recommend pricing structures that focus discounting where it pays off in the market; and extract price premiums where there is less sensitivity.
We recommend price levels by product/service category and customer segment, as well as customer/product-specific price levels. We recommend list prices, discount/mark-up structures, and even customer contract pricing. We develop guidelines to help our clients manage and control exceptions to the architecture, and to identify pricing leakage points in the business. We coach our clients on the principles of strategic pricing and the process of mastering pricing and assist them in training sales reps.
The Hope Group is a distributor that is well on their way to achieving pricing excellence and is just one of hundreds of companies that are driving on average 2-4 margin point gains on affected revenue with minimal customer pushback by using strategic pricing processes and analytics tools from Strategic Pricing Associates (SPA). The benefits are staggering; and they are typically accomplished in less than 90 days.
“…pricing decisions were made randomly and spontaneously…there was no control, no discipline and no process. Now, with the SPA process in place, we increased our margin 19 percent and have doubled our pretax profits despite flat sales. These results are almost exclusively attributable to Strategic Pricing strategies.”
– Carey Rhoten, CEO of the Hope Group
Click hereto read their testimonial about their journey to pricing excellence.
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