In the PricingBrew Journal research report, “Pricing Tech Utilization: Users vs. Laggards,” we analyze and expose the critical differences between companies who have already adopted pricing technology and those who are still on the sidelines.
One of the many areas we explore in this study has to do with forward-looking pricing priorities and objectives…
Now, it’d be easy and somewhat intuitive to assume that most B2B companies would have very similar priorities and objectives when it comes to their pricing, right? Surely nearly every company would be focused on generating more money, gaining competitive advantages, and growing market share, right?
But unfortunately, the study showed that a surprisingly large number of companies have pricing priorities and objectives that aren’t nearly so positive and growth-oriented.
Amongst the non-users of pricing technology, it seems that most companies are still practicing what I would characterize as remedial pricing.
For these companies, their forward-looking pricing priorities and objectives are all about “fixing” things that are broken with their pricing and processes. They’re still trying to get a handle on over-discounting in the field. They’re still trying to get their decision-making processes in order. And, they’re still chasing outlier prices.
Of course, many will naturally assume that these companies are not yet using pricing technology because they’re still “getting their houses in order.” And for many, it’s intuitive to think that these companies are just not ready for pricing technology because they’ve got a lot to fix first.
But frankly, as former pricing practitioner who got on the technology train long ago, I can’t help but question the logic of these arguments.
After all, isn’t fixing all of these issues precisely what pricing technology is designed to do? Are these companies not yet using pricing technology because they have all of these remedial issues to address? Really?
Or, could it be that these companies still have all of these remedial issues to address because they aren’t yet using pricing technology?
