Without buy-in from your entire team – including that salesperson that complains the most – a strategic pricing project will, simply put, not yield the results you need it to. Gregory Smith, Vice President of Strategic Accounts and Partnerships for SPARXiQ, shares the secrets to successful strategic pricing implementation with Ian Heller and Jonathan Bein in this episode of Wholesale Change.
They discuss why:
- A cross-discipline pricing committee that includes the CEO and VP of sales will result in a better outcome
- Incentives must align with strategic margin objectives
- Communicating both the current and future states will drive change
- To sustain success, you need monthly business-review meetings focused on pricing
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.