True, leading-edge companies already have this figured out as they are investing in pricing for the long-haul. They are looking at the support mechanisms, training programs, and business policies that must be enacted in order to have a successful pricing initiative. This is not simple and it takes various business units agreeing to change for the mutual benefit of the company. After all, if it were simple, the company would have already figured it out and pricing would not have the immense returns that we have seen time and time again.
Have you considered how performance management and price optimization are related? Performance management is a technique used by many executives to manage both behaviors and results. Pricing has behavioral implications for your customers and your sales managers. The changes in behavior resulting from pricing policies, internal and external, can have a large impact on your bottom line if managed properly.
PROS is an active member of the Professional Pricing Society and Doug Fuehne, VP, PROS, will be presenting a live webinar on this topic in cooperation with PPS on October 6th at 12:00 noon EST. For more information check the PROS webinar calendar: http://www.prospricing.com/webinars/
Webinars are for PPS members only, however Pricing Leadership blog readers can use the below special registration to attend the webinar even if you are not a PPS member: https://www1.gotomeeting.com/register/900702721
One more thing…did you ever take a PROS Pricing Excellence Certification Course? If you did, you now have the opportunity to transfer these credits to the Certified Pricing Professional program from the Professional Pricing Society. Contact PROS at info@prospricing.com to request a credit transfer.