Smarter price guidance can drive smarter growth, but without a solid change management approach sales reps won’t understand — or use — the prices. The effect that pricing can have on a company’s bottom line is well documented. According to this infographic posted on Forbes , when realized price can be improved by just 1 percent, B2B companies stand to increase EBIT by 8 percent. That impact is lost, however, if sales reps abandon the pricing guidance and fail to bring better prices to the market.
In March during a webinar, Zilliant Practice Director Rick Chappel discussed what pricing managers can do to encourage sales reps to adopt new pricing guidance. Here are Rick’s thoughts on the webinar:
“My excellent team and I implement prescriptive guidance solutions for U.S.-based Zilliant customers. Our diverse customer base ranges from manufacturers to distributors to service companies specializing in everything from tomatoes to paint to parts. Recently, I had the privilege to speak to a group of proactive, strategic thinkers at a PPS-hosted webinar on a topic I’m passionate about: gaining sales rep adoption. We talked about coalition building, Wayne and Garth, the characteristics of quality prices, Bruce Lee, aligning sales variable compensation with pricing, Ying and Yang and more. And now that session is available as a recording in case you missed it and wish you hadn’t. I hope you’ll check it out. And reach out if you have any questions or feedback.”
Viewers will learn how to think differently about the best ways to engage sales teams with a new pricing approach and how to ensure those new practices become the new normal. Other topics include:
Watch the Professional Pricing Society-hosted webinar “Best Practices for Sales Rep Adoption.”