Professional Pricing Society’s 29th Annual Fall Pricing Workshops & Conference in Dallas
Join our experts as they share insights at the Professional Pricing Society’s 29th Annual Fall Pricing Workshops & Conference in Dallas, Texas, from October 23 - 26, 2018. Here's a summary of what our experts will be covering:
Getting Your Cusomer Pricing Right: How to reward top customers and penalize cherry-pickers
Presented by Hendrik von der Brelie & Dylan Vest on Tuesday, October 23, 2018
The tough current economic environment makes identifying revenue and margin growth opportunities difficult. As a result, many companies experience declining volumes and margin pressure. To counter, most companies try to maintain volume by lowering prices and improving cost recovery instead of focusing on top line growth. Yet, it is hard to find a company which doesn’t have several kinds of customers: from the loyal, well-performing customers down to the unfavorable cherry-pickers.
All companies strive to better understand these customer differentials and ultimately turn that into a growth and profit strategy. Finding the right approach to measure customer performance and creating a link between performance and pricing sounds easy. Yet, most recent research shows that more than 83% of all small and medium sized B2B companies still price based on gut feeling, costplus calculation and competitive price levels and require numerous additional manual discounts to adjust. In this session, attendees will learn how “best-in class” companies handle and monetize this opportunity.
Attendees will Learn:
- How to develop a pragmatic concept for a performance oriented customer value segmentation
- How to connect and relate customer value tiers to pricing (price levels, discounts, rebates)
- How to monitor and manage changing customer performance to steadily increase value-add
Boost Your Channel Power Via Smart Trade Terms and Incentives
Presented by William Humsi on Thursday, October 25, 2018
In business-to-business (B2B) companies and business-to-consumer (B2C) companies dealing in distribution, channel incentive programs are the name of the game. Despite this, many companies fail to design a win-win program that drives growth and encourages appropriate channel behavior.
In this session, the presenter will focus on best practices for designing smart incentive programs for your distribution channel. Attendees will explore the value and appropriate use of trade terms and channel incentives, and will review the common pitfalls that many companies fall victim to when designing their trade and incentive programs. Finally, this session will also examine best practices for designing incentive programs in a way that attendees can leverage and employ within their own organizations.
Attendees will Learn:
- The value and appropriate use of trade terms and channel incentives
- The common pitfalls that many companies make in the design of their programs
- Best practices for designing incentive programs in their own companies
*Keynote Presentation* The New Era of Pricing: Why Industrial Goods Pricing Will Change More in the Next 3 Years Than in the Past 3 Decades
Presented by Adam Echter on Friday, October 26, 2018
We have entered a new era of pricing that many have yet to comprehend. This hasn’t happened overnight, but we are at a tipping point where early movers are securing competitive advantage while laggards are suffering dramatic market share losses. As-a-service models, data monetization, and software revenue are all fundamentally different forms of pricing that until recently were outside the skillset of most industrial pricers but that are now critical to their roles.
This keynote will share the modes of pricing that are migrating most rapidly into traditional businesses, key frameworks for pricing these products, and examples of successes and failures as established companies try to navigate this new world of pricing.
Attendees will Learn:
- A clear overview of the variety of pricing skills required in today’s business environment
- Structural frameworks for addressing this variety of pricing challenges
- Tactics and examples to communicate these new ways of pricing thought within their firms
Smart Renewal Pricing: Maximize Value Capture, Minimize Churn
Presented by Nick Zarb on Friday, October 26, 2018
Land and expand. A classic sales strategy. But this is often solely focused on product upsell or usage increases, instead of extracting the willingness to pay for what the customer already has. A sales person’s victory may be closing the deal, but a company’s victory is maximizing the lifetime value of that deal. Upsell and cross-sell are important, but renewals pricing is often more impactful. This is particularly true for those companies that have grown through acquisition, have recently enhanced their product, or have had low discount discipline historically. In this session, designed for B2B pricers with moderate to intermediate pricing experience, attendees will learn how every renewal offer should be tailored to each customer.
Attendees will learn:
- How to identify customers that should be paying more
- How to segment price increases with confidence and use historic behavior to minimize churn risk
- How to ensure the sales team are prepared to defend proposed renewal prices
Capture the Value Flag: Understanding the Role of Digitalization as a Pricing Imperative for all Industries
Presented by Kristin Harris on Friday, October 26, 2018
Despite the ubiquity of “digitalization,” it can be difficult to identify the relevance of our increasingly data-based world across industries. As such, often our initial application of “digitalization” to pricing opportunities stops short: we leverage bigger data to better inform pricing decisions, and call it a day. In this presentation, we’ll explore the multidimensional aspects of digitalization and understand how to uncover hidden monetization opportunities for every type of business. We’ll talk through the process of expanding business model horizons to capture the full value delivered to customers, and discover ways to leverage pricing models as execution levers. Finally, we’ll review case studies that highlight the best ways to capture the full value you deliver.
Attendees will Learn:
- Why digitalization requires us to re-evaluate our core offerings to uncover hidden monetization opportunities
- How to leverage strategic pricing models to achieve new monetization opportunities
- Tips, tricks, and best practices from the field on implementation