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Increase revenue in spite of this global economic slowdown

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Don’t settle for flat-lined profits just because we’re experiencing a global slowdown. Increase revenue by mining your own data for insights leading to better pricing strategies.

We’re in a global economic slump. We’re not going to escape it anytime soon.
Oil prices fell to a decade-low of $26.55 a barrel in January 2016
Will we ever see a fast-growth economy again?
5 STEPS TO INCREASING REVENUE DURING A GLOBAL ECONOMIC SLUMP
Step One: Break Out of a Commodity Mindset
If you believe you sell a commodity, you’ll never be able to sell your products at a profitable price.
So stop that line of thought.
If you believe you sell a commodity, you’ll never be able to sell your products at a profitable price.
So stop that line of thought.
You set the price. Not the market.
Communicate how your offerings are different from competitors and price accordingly.
Step Two: Tighten Up Your Pricing Strategy
Holes in your pricing strategy can be devastating during an economic slump.
A few pricing errors to consider:
1. Unprofitable discounts and rebates
2. Invoice mistakes
3. Across-the-board pricing
Step Three: Calculate Price Increases
A price increase during an economic downturn may sound crazy. But it’s not.
A small, but well-planned price increase in the right place can yield major profits.
Tips for a Successful Price Increase:
1. Be realistic. A 1% increase is a great place to start.
2. Test increases on loyal customers first.
3. Avoid formula-based, cost-plus pricing.
4. Hold your sales reps accountable for selling at target price.
5. Focus on value when selling price increases to customers.
Step Four: Make Prices Unique to Customers, Products, and Buying Situations
Different customers care about different value offerings.
Give them prices based on what they consider most valuable and the packaged offerings they crave.
Above All, Stay Optimistic
This economic slump won’t last forever. Some experts even predict a rebound by the end of the year.
When in doubt, Analyze Your Sales Data
To maximize every profit opportunity, stay on top of every actionable insight your data has to offer.
Start Leveraging Your Data Today
KiniMetrix helps companies use their sales, pricing, market, and customer data to improve pricing and increase revenue.

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Increase revenue in spite of this global economic slowdown

  1. 1. How to Increase Revenue During This Global Slowdown
  2. 2. 2 We’re in a global economic slump. We’re not going to escape it anytime soon.
  3. 3. 3 Oil prices fell to a decade-low of $26.55 a barrel in January 2016 Will we ever see a fast-growth economy again?
  4. 4. 4 5 STEPS TO INCREASING REVENUE DURING A GLOBAL ECONOMIC SLUMP
  5. 5. 5 Step One: Break Out of a Commodity Mindset
  6. 6. 6 If you believe you sell a commodity, you’ll never be able to sell your products at a profitable price. So stop that line of thought.
  7. 7. 7 You set the price. Not the market. Communicate how your offerings are different from competitors and price accordingly.
  8. 8. 8 Step Two: Tighten Up Your Pricing Strategy
  9. 9. 9 Holes in your pricing strategy can be devastating during an economic slump.
  10. 10. 10 A few pricing errors to consider: 1. Unprofitable discounts and rebates 2. Invoice mistakes 3. Across-the-board pricing
  11. 11. 11 Step Three: Calculate Price Increases
  12. 12. 12 A price increase during an economic downturn may sound crazy. But it’s not.
  13. 13. 13 A small, but well-planned price increase in the right place can yield major profits.
  14. 14. 14 Tips for a Successful Price Increase: 1. Be realistic. A 1% increase is a great place to start. 2. Test increases on loyal customers first. 3. Avoid formula-based, cost-plus pricing. 4. Hold your sales reps accountable for selling at target price. 5. Focus on value when selling price increases to customers.
  15. 15. 15 Step Four: Make Prices Unique to Customers, Products, and Buying Situations
  16. 16. 16 Different customers care about different value offerings. Give them prices based on what they consider most valuable and the packaged offerings they crave.
  17. 17. 17 Above All, Stay Optimistic
  18. 18. 18 This economic slump won’t last forever. Some experts even predict a rebound by the end of the year.
  19. 19. 19 When in doubt, Analyze Your Sales Data
  20. 20. 20 To maximize every profit opportunity, stay on top of every actionable insight your data has to offer.
  21. 21. Start Leveraging Your Data Today thekinigroup.com KiniMetrix helps companies use their sales, pricing, market, and customer data to improve pricing and increase revenue. Click here to view a video demo and see KiniMetrix in action.

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