Month: February 2015
During this 60-minute webcast SPA client, Hodell-Natco Industries, will share their experiences and advice. You will gain a wealth of practical knowledge to stop margin erosion by identifying price-sensitive products and services!
Register to attend our webcast March 11, 2015 that starts at 2:00 PM EST where Brandon Liebhard, Vice President at Hodell-Natco Industries, will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to stop margin erosion by identifying price-sensitive products and services.
To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the pricing function, they turned to SPA to implement a proven strategic pricing initiative founded on SPA’s powerful pricing analytics tools. During this 60-minute webcast, they will share their experiences and advice that will provide you with a wealth of practical knowledge including their fast ROI and lessons learned!
“The immediate impact was to energize our inside sales force along with a impressive first year bottom line growth.”
– Brandon Liebhard
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
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.
Other SPA Events
Read part two of a two part series of fun articles that highlight how important it is for customers to focus on the value added by distributors to their operation’s supply chain efforts and why paying a premium is worth it to Santa and his executive team. Excerpts of the article authored by Frank E. Hurtte Jr. who has 28 years of distribution industry experience and a lifetime in sales follow.
“But in a flash, we see Hurtte spew some of his coffee and snap to attention.”
The phone rings; the answer is a seasonal combination of Christmas Cheer and morning routine. But in a flash, we see Hurtte spew some of his coffee and snap to attention. The conversation goes like this:
FH: “River Heights Consulting, Frank Hurtte speaking.”
Elf: “Frank, this is Elf Alabaster Snowball. You don’t know me, but I know all about you, including that pouting incident back in 1962. Kris Kringle and Santa have brought you lots of goodies over the years, like that Red Rider BB Gun way back when you were only 10. And now we need your help.”
FH: “Me? I’m just a distributor guy. How can I possibly help Santa and all my friends at the North Pole?”
Elf: “It’s a long story, but Santa Enterprises needs some of that special Knowledge–based Distributor magic you are so fond of sharing with others. Do you think distributors can help save Christmas?”
“River Heights Consulting and Santa Enterprises handpicked the top knowledge–based distributors in all the land.”
River Heights Consulting and Santa Enterprises handpicked the top knowledge–based distributors in all the land. Selecting on a basis of product knowledge, technical support, maintaining the right inventory, dedication to customer service and status on the naughty or nice list, an even dozen folks were plucked from a wide arrangement variety of wholesale lines of trade. There were Salespeople, a couple of Product Specialists, a Customer Service Representative and Kris Kringle’s old pal Jimmy from the warehouse.
Because the North Pole is hard to get to by car, Santa Enterprises dispatched a team of reindeer to quickly shuttle each of these folks to the North Pole. Time was of the essence. The pressure was high, but this group has handled many a customer emergency. Downtime, troubleshooting, part shortages, factory “work–arounds” and “making things happen” are part of the distributor skillset. And while each member of this group could list hundreds of instances where they “saved the day.” none had ever saved such an important day.
Once at the North Pole, they met briefly with Kris and his team. Everyone provided helpful information to describe their Elfian Department’s issues. Well, almost everyone. Elf Pricedrop was conspicuously absent from the meeting. None of the other Elves said anything, instead they quickly shuttled the distributor team to the problem spots.
“here’s the back side on Elf Pricedrop”
Oh because a few of you will ask, here’s the back side on Elf Pricedrop.
Kris Kringle had one of his “special talks” with Pricedrop. We think the formerly well–dressed Elf from procurement is starting to learn his lesson about price versus value. No one is sure if he has changed but everyone likes seeing him work the shovel down at the reindeer barn.
Click here to read the complete article.
Seizing the Pricing Opportunity Before Someone Else Does – The PricingBrew Journal Interview of David Bauders
In this conversation, David Bauders, SPA’s Founder and President, discusses some of the typical pricing problems he’s encountered working with hundreds of distributors and manufacturers around the world. Highlighting the common barriers and hurdles that must be overcome along the way, David provides a number of insights and tips for generating results while aligning to the organization’s appetite for change and innovation. Some of the key points and comments from the audio-interview follow.
“What are the typical pricing problems that SPA helps companies solve?”
- Development of an effective pricing process
- Implementation of pricing analytical tools
- Development of an effective pricing metrics and reports
- Implementation of pricing training
“Data shines light on real issues”
SPA’s fast process to extract 12 months of transaction data provides valuable insight into where a company’s real pricing pain points are. Examples of insights include:
- What customer accounts are under-performing?
- What products are most/least price sensitive?
- Does the sales force capture price premiums where available?
- Does the existing pricing process balance accountability with flexibility?
“Minefields to be aware of in pricing improvement projects”
Setting realistic expectations with all stakeholders is key and success is impacted by a company’s culture, processes, and analytical capabilities. Examples of the major areas for concern include:
- Project must be given top priority and staffed, supported accordingly
- Project leader/champion must be a strong leader/influencer
- Overcoming pushback from Sales force on adoption of pricing decision support tools
- Overcoming fear that customers will be put off by use of a pricing tool
- Accountability and incentive programs must be in place and enforced
Click here to listen to the complete interview.
(Access to this subscriber-only PricingBrew interview is provided compliments of SPA for a limited time.)