Price increases have a significant impact on your bottom line, but how do you make them stick? Follow these 5 steps to sticky and profitable price increases. Read the full post here: http://thekinigroup.com/blog/sticky-price-increases/
8. 8
Tie price increases directly to a
product or service value.
Optimize this strategy by working
on increasing value months before
a price increase goes into effect,
not at the same time.
19. 19
Yes, measuring the impact of
price increases is hard.
It requires looking at actual price
achieved, customer-by-customer
and product-by-product.
20. 20
But you can’t afford to skip this step.
It’s crucial to the success
of your price increases.
23. 23
If you only incentivize sales reps on:
volume, revenue, or margin,
they will focus only on these objectives.
24. 24
Instead, include your updated pricing strategy
as part of their incentives.
Then they’ll commit to sticky prices.
25. 25
Need a better way to plan your
annual price increases and
regularly analyze their success?
26. 26
Start Planning Your Sticky
Price Increases Today
KiniMetrix helps companies:
1. Identify the target customers for price changes
2. Measure price performance
3. Create successful incentive programs
Click here to see how KiniMetrix
can do this for you.
27. 27
KiniMetrix helps companies:
1. Identify the target customers for price
changes
2. Measure price performance
3. Create successful incentive programs
Start Planning Your Sticky
Price Increases Today
Click here to see how KiniMetrix
can do this for you.