PHASE 14: PRICE KPIs

Track the right metrics to ensure your pricing strategy is successful.

 

Having invested the time in setting up pricing strategy, you need to ensure that it is working. Price strategies touch all parts of the organization. The impact, positive or negative, can be hidden. You must launch your new pricing strategy with clarity on the KPIs that will show points of success and failure. How you will calculate, baseline these metrics, and who will provide the underlying data must be defined. Only then can you track performance, and know when corrective measures are required.

Rapid Diagnostic

1. You have defined KPIs for pricing.

2. You calculate pricing performance metrics on a continued basis (ASP, discount rates, margin, quote prices, win rates, retention rates, etc.).

3. These metrics are calculated at least quarterly.

4. You further segment these metrics by one or more of the following: industry, company size, deal size, region, manager, and seller.

5. There is a single individual or department responsible for collating these metrics.

6. There is a consolidated formal dashboard or report compiled to display all your pricing metrics.

7. Your KPIs are shared among executives and the CEO.

8. These metrics are utilized to inform changes to sales compensation.

9. These metrics are utilized regularly to update your pricing strategy.

10. Corrective actions are put in place to react to negatively trending metrics.

Deliverables

• KPI Assessment

• KPI Identification

• KPI Calculation

• KPI Tracking

• KPI Dashboards

• KPI Operating Manual

Sales Strategy
Adapting Your Go-To-Market During a Crisis: 7 Steps to Mitigate Revenue Impact
Over the last week, we have seen the effects of the COVID-19 pandemic on the market, businesses, and communities. During these unpredictable times, one thing is certain; we cannot control these events, but we can control how we react.   In today’s...
Read More
Sales Strategy
Lean on Your Community in Times of Uncertainty
We are facing unprecedented challenges with the COVID-19 outbreak, but we are all in this together. SBI is committed to helping you:   Connect with your community – Whether you’re a CEO or leader in sales, marketing, or customer success, you have...
Read More
Pricing Strategy
Your Pricing Strategy Is More Than a Plan for New Logos—Why Renewals Matter
At times it may seem that the shiny new toy is always better.  A common mistake that many firms make is ignoring their existing customer base and focusing on marketing to and acquiring new logos.  There’s still value in your...
Read More
Sales Strategy
Is Your Value-Based Pricing Strategy Truly Value-Based?
Value-based pricing is constantly top of mind for B2B executives. Promises of higher profits and market share have been made credible by numerous success stories. Which team wouldn’t want to share in that success? There’s little wonder as to why...
Read More