By Dolores Bauders
COO, Strategic Pricing Associates, Inc.
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?
Tribute, Inc. customer, The Hope Group, 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 here to read their testimonial about their journey to pricing excellence.
SPA’s strategic pricing processes and analytics tools address these 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
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.
SPA is the leading provider of pricing analytics to complex companies of all types: manufacturing, distribution, equipment, services, and software/technology products. Since 1993, we’ve built a strong platform of proprietary analytics to quickly and efficiently help companies convert their own invoice data into pricing architectures that maximize their pricing performance and competitive position.
Visit us at www.strategicpricing.com or click here to learn about SPA event dates and times for opportunities to learn more. 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 and on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.