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Pricing In The New Digital Age

Pricing In The New Digital Age

Technology, in particular the digitization of the economy, is altering entire business ecosystems. Increased price transparency and choice are strengthening the negotiation power of customers.

Data science, Artificial Intelligence and predictive analytics offer an unprecedented possibility for pricing intelligence and new disruptive pricing models. What does this all mean for the Pricing functions at companies?

Looking at our current reality and imagining the future, we can expect five trends to reshape our business landscape.

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A SaaS Pricing Guide By OpenView

Improving SaaS pricing strategies can be difficult without the right tools aren't in place. The best tools to update and improve a SaaS pricing strategy can be found in this new pricing guide by OpenView. Best practices in SaaS pricing have evolved over the years, so our friends at OpenView updated their classic guide to help practitioners stay ahead of the curve. It includes the latest and greatest SaaS pricing resources, as well as some timeless staples. The content is sourced from OpenView as well as pricing leaders including Price Intelligently, Simon-Kucher & Partners, OnStartups and Sixteen Ventures. Read the latest strategic suggestions for the industry in this blog post from OPENVIEW!

Click HERE TO READ the full blog post

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Thank you, Chicago: The #PPSCHI18 Recap

On May 1-4, 2018 PPS hosted the Pricing event of the season in Rosemont, IL, the 29th Annual Spring Pricing Workshops & Conference! Well-over 500 registered attendees descended on the Windy City for another wonderful Pricing Conference event. We were thrilled to return to the luxurious Loews Chicago O'Hare hotel, the host location for all of the Pricing Workshops, Keynotes, Breakout Sessions Town Hall events and more. On Tuesday and Wednesday, we welcomed pricing practitioners from across the country for two, full days of Pricing Workshops. Building on the lessons learned, attendees had the option to pass the quiz in order to receive Certified Pricing Professional (CPP) Credits toward their designation.       Attendees heard from dynamic Keynote Presenters on the Pricing Conference days Thursday and Friday, absorbing important pricing strategies and ways to capitalize on existing business models. Another highlight was the return of the Town Hall Sessions. This exclusive opportunity gave practitioners more time with our expert presenters and a deep-dive into their action plans. During the evening there was time to explore the beautiful city of Chicago, dine at the delicious restaurants around the Loews Chicago Hotel, and of course, interact with the PPS Team. We had a blast - and have the photos and hashtag traction (search #PPSCHI18 across social media platforms) to prove it!

View the growing Photo Gallary on our Facebook Page by clicking the image below:

Stay tuned for the official video releases featuring Keynote presentations, a peek into the Sponsor Hall and the attendee interviews coming soon!

Don't miss the upcoming Fall Pricing Workshops & Conference event in Dallas, TX!

Click the image below to learn more and register your team to attend today! Continue reading

Tips To Improve Retail Pricing Management

One of the most difficult, yet key factors to successful business models is pricing. Retailers struggle to find the right balance between optimizing profits and maintaining traffic. There is a science to crafting a sound Retail Pricing Management strategy. Strategies must ensure retail businesses are well positioned to compete, so... tie the price to the value. Always. While companies should make price part of the offering, the prices must allow for competition within the market, not with the lowest price, which is easy, but with a good price that makes sense by allowing you to make the profit without killing volume. Our friends at Pricing Solutions tapped expert Fred Puech, director of pricing research and analytics to share four impactful strategies that will improve retail pricing management. Learn sustainable pricing strategies that develop healthy margins and good traffic. READ THE FULL ARTICLE from Pricing Solutions HERE. Continue reading

The PricingChat: Learning On Twitter

#PricingChat Join the Professional Pricing Society on Twitter to chat pricing information and strategies with featured experts in real time! So, what IS a #PricingChat? Twitter is the VERY popular Social Media platform that operates in real-time connecting millions across the globe. Twitter chats, or #TweetChats occur when a group of people collectively tweet about the same topic using a specific hashtag (#). This allows the conversation/ topic to be found or searched by millions, at any time. Twitter chats are often repeated bi-weekly or weekly, and can be found using the same hashtag (#). PPS uses the Twitter chat format to discuss pricing industry information in our weekly #PricingChat! Join the conversation Wednesdays at 3:00 PM EST. It's a great way to discuss pricing topics, network with new people and learn new strategies. It is EASY to follow along and chat with us during a #PricingChat! Here are (3) basic steps to participate:  Step 1. Sign up for a Twitter Account - Log on to Twitter.com and create a profile! Add a picture of yourself, or a favorite photo as an avatar, and begin following accounts that peek interest. Personal friends, favorite brands, news outlets, etc. all have a presence on Twitter. Step 2. Follow @Pricing Society  In order to get the best in pricing news, updates, Conference and Workshop details, and of course our #PricingChats, you must follow the Professional Pricing Society Account on Twitter (@PricingSociety). All of the #PricingChat tweets and recaps can be found searching the hashtag #PricingChat. Step 3. Follow Along and Join the Conversation! 
  • Follow as the moderator (@PricingSociety) asks questions to participants. Every Tweet should use the #PricingChat hashtag (#) so that everyone can follow along and search for the content later.
  • Questions are often labeled, (Q1: , Q2:, Q3:, for example) and will include the hashtag (#PricingChat).
  • When answering questions, always include the hashtag (#PricingChat) so others can view the contributions to the conversation.
  • It is OK to greet new people within the chat as they join or "check-in."
  • RT-ing (re-tweeting) the posts of another user within the chat is a great way to show support for a statement or share them with your network of followers. The shares encourage others to participate as the chats are open to the public!

NEXT #PRICINGCHAT: 4.5.18  @ 2:00 PM EST

Peter Drucker said, “what gets measured improves.” It’s a simple concept that becomes infinitely more complicated when dealing with revenue management.  In our experience, regardless of being B2B or B2C, most pricing metrics are underutilized.  The lack of visibility and active management leads to lost sales and profit.  During our discussion, we will cover and answer the questions about revenue management KPIs that every organization needs to evaluate. 

About Featured Expert Avy Punwasse: Avy Punwasee is a founding principal of Revenue Management Labs, a boutique consultancy dedicated to realizing sustainable bottom line improvements through developing and executing innovative pricing strategies. With over 15 years of senior experience spanning pricing, strategy, and analytics, Avy has transitioned from being an in-house practitioner with large companies such as Anheuser Busch InBev, Ford Motor Company etc. to consulting for leading global companies. Remember this is a fun, open space for knowledge, sharing, and learning!

We welcome your thoughts!

Please join us on TWITTER for a NEW #PricingChat!

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