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Save The Date: Chicago May 2016 #PPSCHI

Save-the-date #PPSCHI 2.0

Announcing the 27th Annual Spring Pricing Workshops and Conference in Chicago, IL May 3-6 2016!

#PPSCHI Early BirdButtonRegister TODAY for the pricing event of the season!
  • Over 40 Speakers
  • Over 100 Hours of Exclusive Content
  • 13 CPP Workshops
  • CPQ, Sales, Operation Breakout Tracks & MORE!
  • Full Lineup TBA
    PPS Chicago 620x350 Web Banner For more information, questions or registration help, please visit PricingSociety.com.

We'll see you in Chicago! #PPSCHI

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The Northeast Manufacturers Pricing Workshop - Jan 2016

Pricing Manufacturer's Wkshop 1.0

Pricing experts Adrienne Gordon and Lydia Di Liello are presenting the Manufacturers Pricing Workshop on January 29th, 2016!

This premiere forum for North East Ohio Configured Manufactures covers everything industry leaders need to know about the pricing landscape for 2016. Packed with unique strategies to maximize profits, learn more to get ahead of the competition!

Workshop Topics:

  • Custom and Configured Pricing Strategies (CPQ)
  • CPQ Technology
  • Raw Materials
  • Currency Fluctuations
  • Contracts
Friends of PPS and trusted pricing industry experts, Adrienne and Lydia have over 38 years of combined experience between them.

Register TODAY to take advantage of complex business strategies!

Both Lydia and Adrienne will be featured speakers during our Spring Pricing Workshops and Conference in Chicago, IL, May 2016! PPS Chicago 620x350 Web Banner E We highly recommend taking advantage of these opportunities! To learn more about the Configured Manufacturers Workshop please visit Pricingempowered.com or CapitalPricingConsultants.com. Continue reading

Channel Pricing: Best Practices - Pricing Chat RECAP

Pricing expert Adrienne Gordon of Pricingepowered.com shared with us on Twitter strategic tips about advancements in channel pricing in this #PricingChat RECAP.   What is Channel Pricing? How can it work to improve business? Specifically in retail or e-commerce?
When the final consumer of your product are services are funneled through partners, such as distributors or retailers, they are frequently called channel partners. Channel pricing strategies must consider not only the final consumer price, but also those partner price points. -- Adrienne Gordon
Adrienne shares a few ways to make Channel Pricing work for business. View the full chat below:  

Positive feedback from the #PricingChat:

Screenshot 2015-11-18 14.36.55 About Adrienne: Adrienne Gordon dedicated her career to pricing since 1999, working with multiple companies in several different pricing roles. She began her pricing career at Parker Hannifin as the project manager of their global strategic pricing initiative. During this time, Adrienne worked with multiple consulting groups and revenue optimization technology companies as she helped architect the vision for Parker’s Best in Class pricing approach. From there, Adrienne took the Director of Pricing role at American Greetings, where she executed a multi-phase value pricing research effort ultimately resulting in the redesign of their approach to pricing cards. At Eaton Corp, she worked with several different businesses on strategic projects as an internal consultant. Finally, in 2009, Adrienne became an external pricing consultant based in Northeast Ohio, working with dozens of companies in the manufacturing and distribution space. Prior to pricing, Adrienne held several roles in Technical Sales and Marketing. She holds an MBA in Marketing from Western New England College and a Bachelor’s in Engineering from Boston University. Today, she is a blogger, author, and entrepreneur. For more information about Adrienne's pricing services, company strategies and Channel pricing, visit PricingEmpowered.com. Share the date of our next #PricingChat - view the calendar on our Facebook Page! Continue reading

Pricing Is NOT An Afterthought Pt. 2 - "3 Practices For Effective Pricing"

Continuing the Pricing Is Not An Afterthought Pt. 1 discussion, let's follow up with three leading strategy suggestions to improve pricing results. Many companies fall victim to the pitfalls of new product pricing. Here are three practices proven to work for leading companies, that have utilized effective pricing strategies in business. 1. Build Price And Value Alignment Early Companies have maximum leverage to shape the long-term profitability of a product during the early stages of the development lifecycle, where cost to make changes is very low. There is also a freedom during early development stages that allow for a very high and compelling value proposition. screen-shot-2014-11-17-at-11-24-41-am 2. Utilize Value Analytics To Calibrate Market Positioning Price products based on the value delivered to the customer versus the next best alternative. This not only meets the needs of specific customer segments and competitive positions, but also ensures that the firm is designing and delivering the right level of value for the cost and return thresholds. There are two fundamental types of value analytics used by leading companies: Economic Value Bridges are most effective when the value proposition can be defined economically, in terms of reduced cost of ownership, increased sales productivity, greater asset utilization, etc. admin-ajax Value Mapping is used to depict the landscape of competitive offerings against two axes- price and perceived benefits- when product differentials are more perceptual and qualitative. 3. Treat Target Price As A Design Requirement By collaborating internally for early alignment on the value story, supported with solid value analytics, companies establish a clear target price and performance specifications for the product development stage. When unfavorable cost variations arise during development, leading practitioners resist the impulse to let the target price drift and remain committed to a justifiable value proposition. screen-shot-2014-11-17-at-10-45-16-am What are your best practices in pricing? Questions? Leave them below! Continue reading

We Define: CPQ For Pricing

What is Configure Price Quote (CPQ)?

Configure price quote (CPQ) is an industry term for software solutions that help companies to streamline some of their core processes around the prices that they set for customers. CPQ software can help companies configure products or services in the most optimized way, pricing according to internal factors such as cost, discounting, etc.

CPQ software can measure external factors such as competition and other economic conditions in order to produce accurate highly configured quotes. As companies and their product/service lists grow, it becomes increasingly difficult to manage product pricing, identify great upsell opportunities, and keep track of deals being offered by your competition.

Often, sales reps aren’t provided up-to-date pricing information on products, which can lead to lost opportunities and slower quote times. Configuring a quote can be a time-consuming task, especially when critical data is not easily accessible in real time.

What are potential benefits of CPQ software solutions?

Configure price quote software may help companies achieve faster sales cycles, improve data accuracy, and opportunities to upsell, cross-sell. Also, bundle product/service offerings may be captured more frequently. Pricing products can vary based on factors such as:

  • Costs associated with production
  • Local/ global economic factors
  • Competition/ industry
CPQ software addresses these variables by allowing companies to come up with accurate price quotes sans errors. With built-in analytics, your reps can discount smarter in order to stay ahead of the competition no matter how complex your business becomes.

These solutions may offer additional margin protection, control discounting, enable faster quote preparation and approval turnarounds.

CPQ software can eliminate these problems by speeding up sales cycles, ensuring pricing data accuracy, and identifying and opportunities to upsell and bundle. At the same time, a company can prepare orders faster without increasing the potential for error. As pricing data is more streamlined, the workflow is streamlined, time is saved and more sales can be made. Large companies that manage thousands of products and SKUs due to discontinued items or discounts, or sales teams that may not have the data needed to provide accurate, up-to-date sales quotes (for bundles or upsells) are great business examples of when to use CPQ software. Also, companies that operate on a global scale and need to provide quick and accurate pricing data to dozens or hundreds of stores may find CPQ software most effective at managing pricing discrepancies. Companies can lose a lot of money with a lack of accurate sales quotes.
According to the Aberdeen Group, the sales cycle can see a 28% reduction with CPQ, thereby positively impacting sales rep productivity.
cpg img final Remember to Analyze Sales Performance: Get visibility into real-time activities of your sales reps with analytics. Meet sales goals by tracking product & pricing trends. CPQ turns limited visibility into real-time data/analytics for sales reps. Meet sales goals by tracking product & pricing trends. CPQ makes the journey from quote-to-contract much easier by connecting contract and sales process, so you can win deals faster and sell more. So, when do you know that your CPQ should be evaluated?
  • Sales reps utilize traditional methods of configuration to create price quotes
  • The business/organization offers various products/services
  • The business/organization continues to grow
  • Difficult monitoring competition, industry changes, sales, etc.
Learn more about CPQ and core pricing skills in Dallas, Texas this Fall for the 29th Annual Fall Pricing Workshops and Conference event!

Master skills in-person including core pricing and CPQ strategies. Attend the Workshops and pass the course tests to receive credit towards your CPP Designation. Click to learn more!

Companies use CPQ in business to maximize pricing impact and strategic solutions.

How does your company use CPQ?

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SEPT. WEBINAR: Pricing Strategy Execution With ZILLIANT

9.24.15 PPS WEBINAR When: September 24th @ 12:00PM - 1:00PM EDT Webinar Details: Selling more for more is a goal upon which both sales and pricing professionals can agree. For pricing and sales strategies to be successfully executed in the field, sales reps need the answers to three questions: which customers to call, which products to pitch, and what prices to quote. In other words, an “action plan” for every customer. Only prescriptive selling and pricing guidance can give sales reps the answers. Please join Zilliant’s Chief Marketing Officer Eric Hills as he explains the challenges inherent in executing pricing and sales strategies in the field, how to move from descriptive analytics to prescriptive analytics, and how to give sales reps the action plan they need to sell more for more.

REGISTER TODAY!

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