Scott Francis formed SPS in 2005 after an extensive career improving profitability in the senior leadership of corporate finance and marketing entities, including CFO and SVP Marketing & Pricing. He was a former VP for Finance at the same time VP for Marketing at Fisher Scientific. For 13 years now, he tends to his business called Strategic Pricing Solutions wherein he does pricing consulting services, market research services as well as analytics services. Not to mention he also writes a blog.
Find out in this episode how Scott Francis helps clients improve profitability with behavioral economics and data-driven pricing.
What You’ll Learn From This Episode:
- Pricing strategies should align with how your business competes and wins
- Understand how customers behave, not just what they say
- Discover more about Pricing Model Concepts and Subscription Pricing Model and how these work
“Make sure you’re paying attention to how customers actually behave as opposed to what they say they’re going to do.”
– Scott Francis
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00:43 – Introduction about Scott Francis’ career background and his transition from VP-Finance to VP-Marketing
02:31 – Where should the pricing function reside in your business?
04:33 – Explaining the roles of Finance, Sales and Marketing departments in value pricing
07:53 – Problems with clients about value pricing about geography, average sales price and price elasticity and its solution
14:44 – Key Performance Indicators and the pricing model concepts and how these work
19:32 – Hear Scott Francis’ most valuable pricing advice
“Make sure you’re paying attention to how customers behave as opposed to what they say they’re going to do.” – Scott Francis
“If you pay attention to how customers actually behave when pricing choices are in front of them, you’ll have a much better understanding about how much pricing power you really have and how sensitive your customers really are, and you can make much better decisions than just listening to what the customers say via survey or what the salespeople tell you.” – Scott Francis
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Tags: pricing strategy