For Enterprise Companies
You need strategic solutions, not a consultant
Our largest customers have different pricing needs. Some want to transition to subscription. Some want to motivate and help their salespeople learn to sell value. Some want to uplevel the capability of their pricing departments. Some want help and confidence to raise prices. And there are more. But they all have one thing in common. They don’t want to spend hundreds of thousands or even millions of dollars to hire a high-end consultant to do the work.
Impact Pricing offers several do-it-yourself alternatives. Instead of doing the work for you, Mark advises you, teaches you, and guides you through incredible increases in profit, all by focusing on pricing and customer perceived value.
Pricing is the one activity that captures the value you create. Companies often think they have a pricing problem, and they might, but they really have a value problem. The role of a company is to create, communicate, and capture value.
Surprisingly, big companies are horrible at understanding customer perceived value.
Your employees have been given a job, seemingly with blinders on, and they do it mostly with their heads down at their desks or in internal meetings. Their job is to please their boss. Their boss’s job is to please his/her boss. Whose job is it to please the customer? No wonder the customer gets lost.
You likely already have a pricing department. We have worked with pricing departments in large successful companies. They are always quantitatively talented, but they typically see pricing as what their company does. It’s so hard for them to think beyond what they currently do.
Even your sales, product management, and marketing departments don’t really understand how your customers perceive value. Mark asks questions and does exercises to give these roles incredible insight into how their customers make decisions.
Impact Pricing customizes the solution that’s right for you. Below are capabilities that are often utilized in our customers’ solutions.
Your pricing leader may have weekly consultations with Mark. The leader will get new ideas, have their minds expanded, and find new ways to improve profitability. Mark once had this role and understands the nuances, pressures, and politics. He takes the time to coach your pricing leader as a strategist, a manager, and especially as a leader.
The bigger the company, the more constraints your pricing team sees. They face inflexible IT systems or processes. A specific database. Traditions and “that’s the way we’ve always done it.” You need someone to firmly push on the constraints. You may choose not to change them, but someone should identify and stress them a little. Mark treats consultations like a “ruthless sanctuary.” He always tells you exactly what he thinks, but you make all decisions (without fear of upsetting him). Once a decision is made, Mark is 100% supportive.
You likely have different departments, besides your pricing department, that need pricing knowledge. The three most often in demand are sales, product management and product marketing. Salespeople are often directly involved with the realized selling price, so their knowledge of customer perceived value is crucial.
Product management and marketing need to know how customers perceive value as well. Marketing supposedly gets buyers interested by communicating value, but how can they do that if they don’t understand it? Product managers package the feature into offers and decide where to focus the efforts of development. If they don’t understand how customers perceive value, they are guessing at what is profitable to build next.
Impact Pricing offers several training programs that will be customized to your situation. These programs include How to Sell Value, How to Transition to a Subscription Business, and A Deep Dive into How Customers Perceive Value. You may be tempted to have you own employees lead this training, but that rarely goes well. Whoever you choose probably doesn’t have the experience in the subject, the course creation, and/or the delivery. Training is about knowledge transfer and behavior change. It takes an expert to make it go well.
Keynotes & Presentations
Enterprise companies often have sales meetings or company wide meetings where they want to expose a large group of people to a concept that represents the direction to head. The two most common topics are selling value and transitioning to subscriptions. As long as the content is within Mark’s expertise, we could customize a keynote for your next event.
If you want to jump-start your pricing, meaning the amount of value you create, communicate, and capture, then reach out to Mark to discuss what best fits your situation.