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, and 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 and baseline these metrics, and who will provide the underlying data. Only then can you track performance, and know when corrective measures are required.
- KPI identification
- KPI calculation
- KPI tracking
- KPI dashboards
With this phase completed, it is time to move on to Phase 17: Tools, Systems and Software.