At MindShare 2022, find out how a building products manufacturer is not just weathering the inflation storm, but thriving, thanks to Zilliant Price IQ® and Price Manager™.
Strategic Pricing: Thriving in Tumultuous Times
Builders and construction professionals will remember the price of steel this century as having two histories – one before COVID-19, and one after. In 2019, prices fluctuated between $500 and $700 per ton. However, during the pandemic the price of hot rolled coil (HRC) steel futures soared to nearly $2,000 in October of 2021, putting the price of steel alone at four times the cost it was less than two years prior.
What does that mean for the pricing professionals and commercial teams working inside building products manufacturers? It means they have needed to make the right strategic decisions on things like cost pass-through faster than ever, while also dynamically responding to upticks in labor, freight, and other raw material costs.
One building products manufacturer was well-equipped to meet these inflationary challenges, and even thrive through the turmoil, thanks to prior investments in price optimization and management. Zilliant Price IQ® allows the company to measure price elasticity to dial in the right price increases on a customer-by-customer basis and optimize down to the micro-segment level.
As the pandemic unfolded, the company worked closely with Zilliant to monitor the market and develop and simulate cost pass-through strategies in Zilliant Price Manager™. The rigor that went into price changes, coupled with the transparency behind each move, gave sales reps confidence in negotiations. The resulting price adoption in the field protected the company’s margins and helped it to win the right business.
The manufacturer now finds itself on solid footing as market volatility promises to continue for the foreseeable future. Attend this session to hear how Zilliant tools gave this pricing team the ability to both conjure an inflation-response strategy and execute it dynamically. You will also learn how they are using Zilliant to plan for an eventual decline in steel prices, to pick up market share without sacrificing margin.
If responding to inflation and unprecedented volatility in a way that protects margins and customer relationships could be valuable to your business, please consider joining us at MindShare 2022, June 13-15 in Austin, Texas. You’ll have the opportunity to hear firsthand how this manufacturer weathered the storm as well as hear many additional case studies on how B2B companies have worked with Zilliant to Power Intelligent Commerce. Visit https://www.zilliant.com/mindshare-2022/ to learn more and register today!