You can’t always meet your growth goals through new accounts. Growing your base business can be essential to making your number, particularly as your business matures. But what is the right way to grow your accounts? Should you position a series of upgrades? Add annual price increases? Both are potentially viable — the answer lies in your product pipeline and the characteristics of your customer base. But you can’t choose to ignore it, since in a market with any level of inflation, maintaining prices is equivalent to a reduction.
- Account revenue growth strategy
- List pricing definitions
- Price increase policies and guidance
- Communication plan
With this phase completed, it is time to move on to Phase 11: Price Level Optimization.