Month: June 2016

SPA Pricing Analytics & Decision Making Tools Webinar Series | July 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.

Webinar Series Overview

We’re excited to announce that SPA has developed a 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.

“The Strategic Pricing program has improved our margin from 27% to 31%. These results have moved us to the NFPDA High Performers Profit Category. The increase in profit has allowed us to justify increasing the sales force, customer service and the funding of new marketing programs.”

– Distributor

Click here to read SPA Client Testimonials

July 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

Tuesday, July 5 at 2:00 PM Eastern | Thursday, July 28 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 July 5 here: https://attendee.gotowebinar.com/register/7816509900820852738

Register for July 28 here: https://attendee.gotowebinar.com/register/1325007544149223172

 

 

Strategic Costing

Tuesday, July 12 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/89230141808258820

 

Decision Making Tools

 

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

Wednesday, July 6 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/5093873919421265668

 

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

Thursday, July 7 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/446020565509881092

 

Implementing Strategic Pricing for Non Stock and Rockwell Business

Tuesday, July 19 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/5468895345423376900

 

SPA Vendor Management Tool: Identify Cost Savings Opportunities

Thursday, July 21 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/44987992930008068

 

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

Wednesday, July 27 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/779054940982158084

 

Other SPA Events

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

 

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 | July 2016

Posted on

Now it is easier than ever to make time to learn about the latest strategic pricing and negotiation tools and techniques.

Webinar Series Overview

We’re excited to announce that SPA has developed a 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.

“We dabbled in strategic pricing on our own but never got the results that we needed until we hooked up with SPA. The greatest benefit we have seen is the margin enhancements. The process has been great with SPA! There is not a single investment that you can make at your company that will get you the kind of returns that we have achieved by working with SPA.”

– Industrial Distributor

Click here to read SPA Client Testimonials

July 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, July 11 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/6287615892721026564

 

SPASigma: Negotiation Training Seminars and Learning Management System

Thursday, July 14 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/4467806501007714308

 

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

Tuesday, July 26 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/5818132124242326788

 

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.

SPASigma Featured in The Distributor Channel article “Why do customers buy? Questions and Comments”

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SPASigma was featured in a recent The Distributor Channel article “Why do customers buy? Questions and Comments”. The article is a review of the Industrial Distribution Magazine’s annual survey which focused on a distributor’s value to its clients. The article addresses the root causes of the fact that over 50% cited “Price” as the answer on the survey when asked “Which are the primary reasons your customers do business with you?

Excerpts of the article follow.

“I am disenchanted, but again, not all that surprised.”

This was the 69th edition of this survey; meaning the very first edition fell well before my father started in the distribution business back in the 50s. Silly me, but somehow I imagined our industry had progressed. With a couple exceptions, the results look like something straight out of 1965. I am disenchanted, but again, not all that surprised.

The importance of relationships and trust…

Customer relationships are just as important today as they were back when our dads were making sales calls.  I have to wonder, however, if this comment wasn’t overstated.  I can recall a couple dozen hiring instances gone amiss when salespeople were hired mostly for their customer relationships.  It went something like this:  Sales manager hires sales guy with a long list of customer contacts “ready to follow” him to the new company, only it didn’t happen.  The sales dollars didn’t follow.  In fact, in most of the cases I witnessed, only something like 25-30 percent went with the seller.

With this in mind, relationships with distributors are important.  But when the distributor uses a team selling approach, and most good ones do, building customer connections with product specialists, engineers, inside salespeople and management types, the individual salesperson relationship is not as important.

Price, really are you kidding me?

According to over half of the survey respondents, customers are buying from them because of price.  In other words, they see their value as the low cost discount leader.  I wonder, if this is a response flavored by the responses of those involved in sales, does their management see things this way?  Over the course of several hundred (probably over a thousand) detailed conversations with distributor owners and top-level managers, I have never heard any of them say, “We are striving to be the low cost leader in our market.”  Instead they talk about solutions, technology and great customer service.

Reviewing the list above, one would wonder if some of the same distributors touting price as a customer attractant aren’t also investing in technical services, engineering skills, support and improved logistics.

I believe the price focus and the services focus are inherently incompatible.

Why price is even mentioned at all?

Purchasers constantly push for price.  Distributor salespeople are told, “Your price is too high in dozens of ways.”  Friendly customers give the seller a “last look” where they are allowed to beat the price of some real or imagined competitor; the message is price got you the order.  Not-so-friendly folks mask preference for other suppliers with “your price was out of the ball park, this time.”  The message often plays over the top of technical services and sounds like this, “Your service is great, but all of our suppliers provide the same kinds of things.”

We have already stated buyers constantly test our price.  This creates a repeated message: price is important.  Scientists tell us when messages are repeated the message becomes believable; the thought develops an aura of truth.  When the message is repeated by many people, the directive appears as an absolute truism.  Psychologists call this the “validity effect” and distributor salespeople respond like laboratory guinea pigs.

“sheer number of the pricing variations makes it humanly impossible”

Distributors trust their sales team to understand market conditions, but the sheer number of the pricing variations makes it humanly impossible.  In the face of such overwhelming obstacles to proper pricing, most distributor sellers resort to cost up pricing.  It works something like this:  OEMs get cost plus 20 percent, end users get cost plus 25 percent.  All regardless of product, type of purchase or support required.  If the competition has the business, the percentages drop.

How to address pricing…”

Margin management falls squarely on the shoulders of management.  Our industry now has the tools to manage and control the pricing process.  This is not just the addition of some derivation of the 30 year old concept of matrix pricing (which has largely been a failure in our industry.)   Instead, it involves a process tying customer size, type and purchasing habits with product and vendor/supplier.  Further, salespeople are no longer allowed to make changes in pricing at will.  Instead, a management directed pricing leader is used to oversee exceptions to system pricing.

Click here to read the complete article.

 

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.