A three minute guide
Pricing is one of the most powerful levers for improving profitability. Research shows that price management initiatives can increase a company’s margins by 2 to 7 per cent in 12 months – yielding an ROI between 200 and 350 per cent.
But many companies aren’t able to unlock this potential, often because they’re building on a poor foundation in analytics and don’t have the appropriate level of visibility into the true profitability of their complex channels, product portfolios, and customers.
A commitment to pricing improvement is easy to make—but challenging to execute. Even the most passionate companies can find themselves coming up with a whole range of excuses to delay, defer, and deny.
Achieving long-lasting, high-quality performance requires companies to cope with dramatic changes in their competitive context. That’s where pricing agility can help them stay ahead of the curve and sustain performance.
Analytics can lead the way on pricing and customer profitability.
This outline describes how pricing analytics can help improve margins and deliver the insights required to take pricing strategies to the next level. Learn more about how to get your pricing analytics effort off to a smart start.