PPS Pricing Podcast

Customers expect their vendors to offer them a seamless omnichannel buying experience across all sales channels. Omnichannel selling creates a dilemma for B2B pricing teams due to inherent product and price complexity and the widespread practice of negotiated pricing. How do you offer the right price, accurately and immediately, whether a customer interacts with a visiting sales rep, a service rep at a branch counter, a call center rep or your web shop?

Robert Ribciuc by Professional Pricing Society

Salespeople always seem to ask for discounts. Do we really need to approve them? They are told to sell value, but if they don't even know what value means, how can they? Let's talk with Mark about how we can help salespeople win more deals, at HIGHER prices.

The value-based pricing model as well as the respective tools like conjoint analysis are still building on the assumption that customers behave like the famous ‘Homo economicus' – perfectly informed selfish and rational decision makers with stable preferences. In other words, value-based pricing is leaving significant margins on the table, as it is not really capturing the psycho-logics and predictable mistakes in human purchase decisions. Behavioral Pricing is equally well equipped to develop an optimal pricing strategy as it is to provide appropriate tools to actually execute it. Besides helping to design more profitable pricing strategies, it will also help to minimize the famous clash between pricing and sales when strategy hits practice at the end of the day.

We are living in a period characterized by inflation and volatility. Over the past year, the increase of commodities and business expenses have put a strain on the bottom line. This problem is exacerbated by the fact that customers are struggling with the same input cost shifts and seismic changes in demand making it difficult to simply pass on cost increases. Through practical examples, participants will be armed with a blueprint of how to take immediate action.

Configure, Price, Quote “CPQ” is a business process supported by software technology and includes much more than just what the names suggest. It is an old methodology from the 1970’s that has become a hot topic today. It is not just the software, it is a total business process approach. If you want to learn how CPQ works, what it really means and why it is the most powerful tool for any corporation please join us for this podcast. As an added bonus, we will cover how to avoid the major pitfalls inherent in CPQ as well. Learn more about Lydia Di Liello, CEO and Founder, Capital Pricing Consultants: http://capitalpricingconsultants.com/

Most pricing professionals agree that they are not using rebates effectively, because it makes their pricing strategy overly complex and the permutations and combinations on rebates themselves become unmanageable. Simple questions such as, what rebate is a customer eligible for – or is likely to become eligible for – based on their performance, in a month, quarter, or year –are all too hard to answer. Enter- Machine learning. When pricing and rebate management processes are seamless and intelligent, rebate offers can become increasingly sophisticated, deal margin visibility will improve, and corporate financial proformas will become more accurate.

Businesses face unprecedented pricing pressure as a direct result of sophisticated procurement organizations. Pricing, sales and finance leadership across all industries are engaging in challenging negotiations with highly trained procurement professionals. This course provides specific actionable negotiation strategies, as well as examples and tactics to refute even the most difficult procurement group. Help your sales, pricing and finance teams up their game and capture more of the value that they deliver to their customers.

Diversity, inclusion, and equity matter deeply to businesses, but even more to the pricing function. How can equity drive smarter pricing decisions and grow your bottom line? In our latest Pricing Podcast, Hillary Gretton, MBA, CPP, Associate Director, Commercial Data Strategy with Greenwich Biosciences is sharing how she approaches Human Capital in Pricing. Check it out here. Would you like to hear more and ask Hillary your questions about Human Capital in Pricing? Join us for the 2020 PPS Virtual Summit on March 4 to hear even more and ask your questions live. The Summit is By Practitioners, For Practitioners. Secure your seat today at pricingsociety.com.

Complex systems are a challenge to price due to many components, but mainly that no two solutions are the same. So how do we avoid the pitfalls of margin percentages and measurements that have nothing to do with our customers perceptions of value or the competitors offer? The solution is a methodical approach to consistently deriving an understanding of market pricing. This session covers a thorough-level review of the approach refined over 29 years. Visit pricingsociety.com to register!

Did you know that complex organizational structures can make or break your pricing journey? The navigation of these structures is a required skill. So how would you spend the first 6 months of a pricing transformation journey? In our latest Pricing Podcast, Stephan Liozu of Thales is sharing how he approached their transformation under his leadership. Do you want to learn more and ask Stephan your questions about Pricing Transformation? Join us for the 2020 PPS Virtual Summit on March 4 to hear even more and ask your questions live. The Summit is By Practitioners, For Practitioners. Secure your seat today! pricingsociety.com.

As pricing technology becomes more and more sophisticated, incorporating complex data analysis and using AI and Machine learning to optimize and deploy pricing, we’re seeing a wider acceptance of Dynamic Pricing. Industries like airlines, hospitality, and ride-sharing have led advances in dynamic pricing, but other industries are now opening up to the possibilities. Both B2C and B2B companies are looking at incorporating Dynamic pricing into their strategies. We’ll talk about less obvious industry examples like Vail Resorts’ dynamic ticket pricing, and Lyft’s B2B strategy. True Dynamic Pricing goes hand in hand with AI, as the real-time analysis and automated deployment of prices go beyond the physical capabilities of a pricing team. Whether pricing is being adjusted hour-to-hour or only week-to-week, AI can simulate and predict demand to optimize pricing for changing market conditions.

Lisa and Praks discuss the layout of the future pricing organization and new technologies being launched and how that translate for the pricing function.

Lisa of from PPS discusses with Lydia and Chris practical pricing and negotiation approaches to counter the most challenging procurement strategies. We will also discuss how the procurement organization has evolved to its current sophisticated 21st century model and the implication of this evolution for suppliers.

Lisa and Navdeep discuss how pricing leaders can achieve pricing excellence and unlock the hidden price factory within their organization through continuous improvement methods adapted specifically for pricing.

Artificial Intelligence in Revenue Management In the latest #PricingPodcast by the Professional Pricing Society, Lisa Fisher, Senior Director of Marketing and Communications talks with Alex Shartsis, CEO of Perfect Price, about his presentation at the PPS 29th Annual Spring Pricing Workshop and Conference in Chicago. Alex will present a 45-minute discussion on Artificial Intelligence in Revenue Management. In this podcast episode, Alex and Lisa discuss why this topic is relevant in today’s marketplace and what valuable insights this presentation will provide to help businesses realize the importance AI and where it has been successful.

This podcast will give you alternatives to pricing your products and /or services based on customer-perceived value, rather than cost-plus pricing methods. By

In Pricing and Corporate Strategy, Tim J. Smith, Ph.D. will share how leading firms are integrating different pricing and price management techniques throughout the corporation to maximize both growth and profitability. We will discuss the culture, structure, and process for getting pricing done right. Pricing and Corporate Strategy will clarify the areas where technology can accelerate progress and where managerial judgement calls are fundamentally required. Presented by: Tim Smith, Ph.D., CPP

In this Pricing Podcast Alex Shartsis of PerfectPricing details how machine learning will impact the pricing industry and improve business. The term “machine learning” is popular within the pricing industry at the moment, but what do pricing professionals need to know? How can this trend translate from a buzzword to improved business for various industries? Presented by: Alex Shartsis

Learn how to adapt your pricing and selling strategies to win with 21st century procurement. Come join us and learn firsthand from instructors who have worked in and teach Global Procurement and Strategic sourcing! Attendees Will Learn: • What 21st century buyers really want from their suppliers • Five key procurement goals that should be considered in your value selling and pricing strategy • How to adapt pricing strategy based on procurement’s supplier segmentation model and strategic sourcing strategies Presented by: Lydia Di Liello & Christopher Provines

The rise of unauthorized sales of discounted products in marketplaces today is eroding the prices and margins for many businesses. Distributors and retailers have to reduce their prices to match the discounts on online marketplaces, and distributors and retailers are in turn demanding lower prices from manufacturers. All of this is causing a cascading effect on companies’ prices and margins that are dramatically reducing company profits. Whitney Gibson, partner at the law firm Vorys, Sater, Seymour and Pease and head of the internet brand and reputation group discusses this issue and ways brands are fighting back in this #PricingPodcast. Presented by: Whitney Gibson

Lydia DiLiello, Founder and Principal of Capital Pricing Consultants LLS, shares expert forecasts about the pricing industry landscape so practitioners can improve their business. Learn from Lydia in-person during the Spring Pricing Workshops and Conference Event: #PPSCHI20! About Lydia: Lydia is the founder and principal of Capital Pricing Consultants LLC, a Revenue Management consultancy dedicated to achieving sustainable increased profitability for clients through strategic, operational and tactical recommendations. She brings more than 23 years of global revenue management and pricing expertise to her clients having served Fortune 50 and startup companies. Lydia is a member of the Board of Advisors for the Professional Pricing Society and is a frequent contributor to pricing industry publications and social media including The Pricing Advisor and The Pricing Journal. For more information about Lydia: https://pricingsociety.com/current-trends-in-pricing-featuring-lydia-diliello/

Configure Price Quote (CPQ) monetization makes it easier to sell priced (monetized) services. Some of the new CPQ strategies may seem difficult to understand, but pricing expert Lydia DiLiello makes it easy to understand how to make them work for your business. About Lydia: Lydia is the founder and principal of Capital Pricing Consultants LLC, a Revenue Management consultancy dedicated to achieving sustainable increased profitability for clients through strategic, operational and tactical recommendations. She brings more than 23 years of global revenue management and pricing expertise to her clients having served Fortune 50 and startup companies. Lydia is a member of the Board of Advisors for the Professional Pricing Society and is a frequent contributor to pricing industry publications and social media including The Pricing Advisor and The Pricing Journal. For more information about Joanne, view the full blog post: https://pricingsociety.com/podcasts/how-to-monetize-your-cpq-investment/

In this #PricingPodcast, expert Joanne Smith shares strategies to improve sales partnerships in pricing. About Joanne: Joanne Smith is the author of The Pricing and Profit Playbook (Bradley Publishing – October 1, 2013), and the former DuPont Corporate Head of Marketing, Pricing and Customer Loyalty. She achieved her B.S. from Drexel University and completed Advanced Marketing and Sales Courses with Kellogg School of Management Program. She is a certified Six Sigma Champion. For more information about Joanne, view the full blog post: https://pricingsociety.com/partnering-with-sales/

Leading manufacturers from around the globe are now optimizing their service parts pricing to deliver dramatic improvements to their top and bottom lines. Listen as this interactive session focuses on how the right price, for the right part, in the right market, can drive service parts revenues up by 5 percent, while driving gross profits by 7 percent! About Jason: Jason Philip is responsible for implementing Syncron’s pricing solutions for the company’s customer base, working in global and complex environments. He has implemented solutions around the world, including North America, Japan, Jordan and Europe. Prior to joining Syncron, Jason was a product manager and designer for PTC (previously Servigistics). He received his Master’s Degree in Industrial Engineering from Georgia Tech in 2010. For more information about Jason, view the full blog post: https://pricingsociety.com/goodbye-spreadsheets-hello-profit-margins/

Travis Umpleby, pricing expert and Senior Consultant at Holden Advisors, shares 4 strategic lessons that make for effective price increases. Lessons that will help listeners see revenue growth within their business. Learn the best times, the right tools, and ways to approach price increases with confidence. About Travis Umpleby: Travis is a Senior Consultant at Holden Advisors and drives pricing and negotiating initiatives with customers. He specializes in creating pricing-to-value strategies and negotiation tools that include Give-Gets and value messages that sales teams can use when facing tough negotiations. Travis excels in developing Backbone Coaches to reinforce behavior change. As a certified Negotiating with Backbone facilitator, Travis leads workshops across diverse industries such as SaaS, manufacturing, and data services. Travis holds an MBA from the Carroll School of Management at Boston College, and a Bachelor of Science from Brigham Young University. For more information about Travis, view the full blog post: https://pricingsociety.com/price-increase-effectiveness-with-travis-umpleby/

We talked with Peter Barr, Director of Pricing at McKesson about the best pricing strategies to a smooth business operation. About Peter Barr: Peter Barr has been leading pricing for distribution business for over 10 years and is the Senior Director of Pricing for the Primary Care Business at McKesson Medical-Surgical. He joined McKesson when the company acquired PSS World Medical, where he served as Director of Strategic Pricing. He previously served as the head of pricing for the plumbing and electrical businesses at HD Supply, where he worked in a series of leadership positions in pricing, operations and finance during his 16-year career with the company. Peter holds a B.S. in Finance and International Business from Oregon State University. For more information about Peter, view the full blog post: https://pricingsociety.com/pricing-smoother-than-peanut-butter-with-peter-barr-of-mckesson/

Philip discusses: * How to avoid pricing errors * Common pricing strategies adopted by successful businesses * Price Optimization - 2017 * How to execute "quick wins" to better target prices * Long-term strategies to fine-tuning pricing * What businesses should avoid Case Studies/ Company Examples of success About Black Curve: BlackCurve is a Price Management and Price Optimization Platform. Our cloud-based software empowers businesses to price smarter and in doing so increase their profitability. Learn more: BlackCurve.com For more information about Philip, view the full blog post: https://pricingsociety.com/pricing-podcast-philip-huthwaite/

Dunne's strategy focuses will include the automation of quote-to-cash processes, ways to innovate business practices through pricing analytics, intelligence, and guidance for innovative business practices. About Michael Dunne: Michael Dunne is director of product marketing at Apttus, responsible for the company’s CPQ and digital commerce solutions. For sixteen years he was an analyst and Vice President at Gartner, the leading information technology research firm. While at Gartner he covered price optimization, CPQ, CRM, sales effectiveness and sales performance management technologies. He also worked as senior vice president at Creative Executions, a marketing and sales consulting firm. For more information about Michael, view the full blog post: https://pricingsociety.com/quote-cash-pricing-pricingpodcast-featuring-michael-dunne/

Pricing industry expert and Senior Director with Holden Advisors Alison Yama talk gives her insight on strategy, provides case examples and much more! About Alison: Alison is a Senior Director Product and Service Management. She has over two decades of marketing, sales, client, and relationship experience and currently creating thought-leading, innovative offerings to help Sales teams develop backbone to defend value and price in the face of tough negotiations. For more information about Alison, view the full blog post: https://pricingsociety.com/get-your-price-and-win-against-low-priced-competitors/

We chat with pricing expert and author Stephan Liozu, and he answers some of the more popular questions surrounding Value-Based Pricing. About Stephan: Stephan Liozu has over 20 years experience in business, working for both Fortune 500 companies and family-owned businesses. He specializes in crafting and designing unique innovation and business strategies leading to differentiated business models. Liozu moderates brainstorming, mind mapping and creativity sessions with executives, partners and customers to generate ideas, value models, value propositions and innovation strategies. For more information about Stephan, view the full blog post: https://pricingsociety.com/stephan-liozu-talks-value-based-pricing-pricingpodcast/

Pricing is so much more than putting numbers on quotes, or associating them with products. About Tim Smith: Tim J. Smith, PhD, CPP is the founder and CEO of Wiglaf Pricing, an Adjunct Professor of Marketing and Economics at DePaul University, and the author of Pricing Strategy and Pricing Done Right. Pricing Done Right has been called “essential reading” by CEOs. Pricing Strategy has been described as “the most comprehensive pricing strategy book.” Tim began his career in quantum mechanics before his interest in transferring technological advances to societal implementations led to pursuits in business strategy. His focus on pricing is a natural culmination of his deep love of mathematics and lifetime enjoyment of selling. For more information about Tim, view the full blog post: https://pricingsociety.com/pricing-done-right-pricingpodcast-with-tim-smith/

Experience proves that successful businesses depend on Executive support, yet often the Executives don't understand the organization's metrics. Particularly within the pricing industry... About Adele: Currently, Adele McLean serves as the Vice President of Holden Advisors. In this role, she leads teams in the development of pricing and sales solutions that result in improved price realization, shorter sales cycles, and increased revenue. In addition, Adele facilitates world-class programs with global sales teams to transform price negotiations and level the playing field with procurement.Under Adele's leadership, companies have experienced significant profit gains and improved performance results. She specializes in sales operations, supplier management, supply chain management, product pricing, process integration, and change management. For more information about Adele, view the full blog post: https://pricingsociety.com/executive-support-for-pricing-transitions-with-adele-mclean/