Distributor pricing is tougher than other industries because of the scale of the typical distributor’s Customer-Item combinations. It can seem like an overwhelming task to analyze every combination, or get any value out of it once you do.
But, as Brent Grover suggests in the interview reported below, taking a functional and focused approach to the pricing data that distributors already have on hand can generate a pricing system that targets opportunities while protecting price-sensitive sales.
- Identify incidental purchases
- Price these incidentals that your sales people don’t have time or interest pricing
- Get more margin on incidentals, leave the price-sensitive sales to your sales people
Taking control of incidental pricing is a critical tool in using your pricing data in a practical way. More data is not always the answer. Better data is.
[titled_box title=”The Problem with Big Data in Distribution” variation=”slategrey”]
The Problem with Big Data in Distribution
The idea of Big Data, the buzzword often broadly used to describe businesses’ use of data to improve decision-making and find new opportunities, can be overwhelming for companies without the resources to comb through data to find trends and act on them.
By: Lindsay Konzak
Brent Grover of Evergreen Consulting discusses how distributors can use data in a practical way. Read Full Article
Profit2 distills hundreds of thousand of transactions into cogent, easy to understand analysis for distributors in more than 30 industry segments. Our tools, including a customized client dashboard, takes the “big” out of Big Data and puts real, actionable information in your hands.