For the vice president of sales and marketing at a metals distributor, an intensified and programmatic approach scientific pricing has made all the difference. At MindShare 2022 you will hear how Zilliant Price IQ® has propelled record performance.
MindShare Preview: Block Out the Noise and Prosper Through Price
To stay in business for more than a century, a company must do a lot right. It must consistently deliver value for its customers, foster a positive environment for employees, and evolve as routes to market and economies change. The thing about such seasoned companies in the digital age, however, is the pace of change often exceeds their ability to adopt cutting-edge technologies.
For this nearly 120-year-old metals distributor, pricing had always been more art than science. But as the rate of profit in the broader metals market declined, leaders at the company made the transformative decision to bring in Zilliant Price IQ® to put pricing science to the test. As the vice president of sales and marketing at this distributor shared at MindShare 2017, the results were swift and impactful. The company’s margins grew without sacrificing sales, even as the market continued to wane.
This early success gave company leadership the confidence to take things further.
“About three years ago, we hit upon the idea to take it serious – pricing was not a hobby anymore, it became central to everything we do,” said the vice president.
Now he is back once again to grace the MindShare stage on June 15 to give an update on how this heightened pricing rigor has skyrocketed margin performance despite a pandemic, a recession, inflationary cost increases and unprecedented metal volatility. In fact, the company is setting financial performance records thanks in large part to consistently setting the right price and achieving upwards of 90% price adoption from the sales team.
Attend this session to learn how that level of adoption was achieved, and why a centralized, strategic approach to pricing science has given the distributor the foresight to capitalize on the post-pandemic spike in demand, months before its competitors were able to. The session will also cover best practices on crowd-sourcing pricing - involving stakeholders from across a company’s functional teams and using a mix of hard data and field feedback to inform the right price change decisions.
Read a recap of MindShare 2022, our first in-person conference in three years, to gain valuable insights from industry experts, partners, and customers.