When launching a new pricing initiative, such as focusing on incidentals, you may discover that coming up with the numbers is only half the battle. Getting your sales people to use the new pricing structure can be even [...]
I could tell from benchmark studies that my company lagged the industry. The question was never should we do something, it was always what to do given the challenges. You know the excuses we made... [...]
There is a strong correlation between how you price low-volume, infrequently purchased incidental items and your overall profitability. Although the definition of “incidental sale” varies by industry, for the purpose of our study we defined [...]
Increase earnings by focusing on “incidentals". The pricing experts at Profit2 help you identify infrequent, low volume sales where your margins are too close to your average.
Are You Leaving Money on the Table? This graph illustrates the relationship between price and annual item volume for one item.
Your sales people live in fear. Here’s their nightmare scenario…
Pricing is often “compressed” around a company’s average margin. There’s too little difference in margin rate between high and low volume orders, big and small customer sales and price-sensitive vs. incidental items. When pricing is [...]
Only about half of intended price increases are actually captured* System prices are lowered by the sales person over 50% of the time Only 35% of surveyed companies* have sufficient pricing power to achieve the [...]
As Lily Tomlin said, "I always wanted to be somebody, but now I see I should have been more specific".
Join Profit2 next week at the 2016 Blue Hawk Annual Conference Join Paul Parsons and Bill McNally of Profit2, April 27-30, at Solution Partner Center Table #24 for a 15 minute demonstration of a better solution for [...]