Category:

Why You Need to Start with Your Pricing Objectives

May 15, 2018 in Blog

Learn here why pricing objectives are important, and what type of objectives are most relevant in today’s market.

Creating a pricing strategy is never an easy task. For both B2B and B2C markets, first be clear on what is your pricing “destination”. That should translate into clear, measurable business objectives. Think in terms of: “increase market share by 10%” or “increase customer satisfaction by 20%. Sync the pricing destination with the overall business objectives of the company as pricing objectives need to work towards the business’s plans for the future. Of course, depending on the specific needs of your company, you can have multiple objectives or even change them along the way.

When choosing your pricing objectives, keep in mind that pricing is intertwined with the financial, sales, and marketing departments. Hence, your pricing objectives should relate to all 3 of these key aspects:
Continue reading »

2018 PriceEdge Retreat

May 14, 2018 in Blog

Spoiler alert: We had an all-around fantastic retreat 😊

Two weeks ago, the Stockholm and Bucharest office spent a couple of great days together in Sintra outside Lisbon, to work together, reconnect, and get some key development tickets kickstarted. It appears from the photos that we mostly ate, drank and laughed, but truth be told, when we get together, mostly we get a lot of stuff done including a bunch of ping pong games 😉.

Since we are a distributed team working form different locations (4 from Sweden, 6 from Bucharest and 1 from Vienna), we usually all only get to work togheter as two-dimensional people over Skype and Slack calls.

Our main goal for when we get together each year is to create shared memories. This means spending quality face time with each other, cooking, eating, doing yoga (Radu & Radu) and getting key discussions and decisions made. Basically, the idea is to recharge our emotional batteries for the months ahead and ahve a clear plan on how to proceed with our projects, when we each go back to our seperate offices.

We also use the retreats to talk strategy as a team and have company-wide conversations if needed, but that’s only a small part of the retreat, as it eats into the having fun time!

This years retreat was our second retreat together. The last one was in New York during the spring of 2016, which included some crazy nights including a visit to one of Håkan Hellströms local gigs.

The Location

We always try to avoid hotel accommodations; nothing against them, but we prefer to spend our retreats in a more comfy and relaxed space where we feel at home.

This year the choice was easy as we could combine a visit to the NYPS pricing conference with our own retreat. Hence the selected to rent a large villa in lovely Sintra just outside Lisbon.

PriceEdge Retreat

First team checking in…

PriceEdge Retreat

…and checking out the view

Continue reading »

How to get started with dynamic pricing

March 28, 2018 in Blog

What happened lately that made dynamic pricing such a priority? Well, the answer is easy. It’s been Amazon.

We must recognize Amazon as the driving force behind dynamic pricing. Their adaptability to a vast and diverse inventory has set a benchmark for competitors to follow in their footsteps.

Continue reading »

How to Overcome 5 Common Blockers for Better B2B Pricing

March 28, 2018 in Blog

Analysis has shown that a 1% increase in realized price brings an 8% improvement in operating profit, whilst a 1% improvement in market share or variable costs brings about only 4%. This makes it clear that the beliefs against changes in pricing should be overcome, else money is left on the table and the door is open for competitors who understand the power of pricing.

 

Continue reading »