Pricing is probably the most important aspect of your customer relationship. Yet surprisingly, many distributors approach pricing as an afterthought. Pricing influences your brand, your profitability, your share of wallet and competitive position. Who on your team is in charge of your pricing strategy? … Read More
Customer segmentation is more than just nominal grouping and categorization. If you approach your customer segmentation correctly – with real, profit-driving behavioral data – your customer segmentation becomes a blueprint for driving success throughout your organization. Your segmentation is a
Simple Changes That Lead to Higher Profits When I tell distributors I meet that our customers are making 2% to 4% or more gross profit improvement through price optimization, they sometimes respond that price optimization sounds too hard for them.
Distributors relay on pricing contracts with customers to land new business and help drive sales with strategic customers. Unfortunately, contract pricing can also be a cause of stagnating profits as pricing is locked in for a period of time.
New profit from price optimization is easier than you think. Data-driven analysis is the key to effectively setting prices, capturing market demand and maximizing gross profit. The leading distribution organizations know precisely what the right price is for a
Customer segmentation is the practice of aligning like customers that have similar needs and buying behaviors so you can offer customers the right price for the right products at the right time. Great segments enhance the optimization of prices that
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