Holden Advisors’ Post

This is a great POV by Jeet Mukherjee; if you can't accurately (and quantitatively) communicate the value you bring, it's a tough sell! Lack of understanding of your own value limits your ability to 1.) Price appropriately, and 2.) Differentiate from the competition, ultimately impacting your pricing power. i.e. Non-quantifiable value-based conversation: Seller: "We help businesses grow their revenue" Buyer: "So does your competition, and their solution is 1/3 the $ of yours." If you can quantify your value, especially relative to your competition, you can justify your price.

Do you know how your customers make purchase decisions? Where you think price ranks amongst these factors? Is it #1? This great research from McKinsey & Company ranks the decision factors used by the customers of over 200 distributors.   In fact, these customers rank price only #6 in importance, behind range of products, availability, customer service, rep relationship, and delivery time.   So, how important is price to your customers, how would it rank, and what does their decision-making 'landscape' look like?   3 Days to the Business Book Awards 2024 final! 😊   #BBA2024 #KeyTakeawaysOnPricing #Gs10ksbuk #DoubleYourPrice #BusinessGrowth   https://lnkd.in/giEwixiE    

🚀 Attention Brokers: Boost Your Profit Margins in Today's Competitive Market! 📈 In an increasingly crowded marketplace, maintaining healthy profit margins is more crucial than ever. Here are 10 strategies to help you stay ahead: Optimize Efficiency: Automate tasks and streamline processes Diversify Revenue: Explore new services and monetize existing offerings Negotiate Better: Improve terms with clients, suppliers, and carriers Strategic Pricing: Implement value-based and dynamic pricing models Enhance Marketing: Boost lead generation and client retention Manage Costs: Control overhead and reduce COGS Leverage Technology: Use data analytics for smarter decision-making Focus on High Margins: Prioritize profitable services and clients Improve Supply Chain: Optimize routes and eliminate empty backhauls Develop Risk Strategies: Balance internal and external trade execution Which of these strategies are you already implementing? What challenges are you facing? Share your thoughts in the comments below! 👇 #BrokerageStrategies #ProfitOptimization #SupplyChainManagement #BusinessGrowth

At this time of the financial year, If you're concerned about not meeting your budgets or targets… Relying on a last-minute ‘Hail Mary’ like hope, increasing staff and client pressure is unlikely to solve the problem. Instead take action now, and set a solid growth foundation for achieving your goals next financial year. Here’s how you can start: ➡️ Understand what has driven and influenced your revenue this fin. year. ➡️ Identify new or unrealised opportunities for increased revenue and profit ➡️ Align all revenue-influencing areas of your business to support both core and additional revenue streams. It starts by identifying and analysing the key areas that direct the flow of the ‘right’ revenue through your business. This process isn’t complex… It can be implemented at a low cost and Focuses on optimising the resources you already have. Here's the thing: If you don't try something new, you'll keep facing the same pressures and leaving money on the table for yet another year. Get ready to boost your profitable revenue starting Q3 2024. Reach out now so you can start making the incremental changes that will positively change your current position. #RevenueGrowth #B2B #ProfitableRevenue #BusinessGrowth #ProfessionalServices

Does fear of losing customers stop you from updating your prices? It's understandable, but also less than optimal. You may even be putting your business at risk. Keeping prices stagnant can lead to you falling behind financially, slowing down innovation and losing important customers. 🛠️ What can you do? - Review prices regularly: Set up a process for price updates with input from key stakeholders. As obvious as it may seem, surprisingly many go without a process for years. - Use data: Leverage market trends, customer feedback, and cost developments to inform pricing decisions. To stay on top of what’s happening in your market in terms of pricing, in relation to available alternatives, will prove to be time well spent. - Think long-term: Assess the 3-5 year impact on revenue, profitability, and churn. It’s an eye-opener, if you haven’t already done it. By staying proactive, you not only protect your business but position it for growth. Ready to explore how strategic pricing can help? 👉 Follow and find us at aprice.io hashtag #PricingStrategy hashtag #BusinessGrowth hashtag #CustomerRetention

🚀 **Mastering Value-Based Pricing: The Key to Unlocking Greater Profits!** In the ever-evolving marketplace, setting the right price for your products and services can seem like navigating a labyrinth. 📈 With changing market dynamics, evolving customer preferences, and fierce competition, finding the pricing sweet spot is more crucial than ever. Enter Value-Based Pricing – a strategy that not only tackles these challenges but also enables businesses to capture the true value they deliver to their customers. Unlike cost-based pricing, which merely covers production costs plus a standard markup, value-based pricing aligns the price with the perceived value to the customer. 💡 However, many businesses shy away from this approach due to common misconceptions, often sticking to traditional pricing methods that might lead to significant profit loss. 💰 By embracing value-based pricing, companies can ensure their pricing strategy reflects the benefits and value they provide, optimizing their profit margins and staying ahead in the competitive curve. Let’s dive deeper into how adopting value-based pricing can transform your business strategy and lead to greater profitability. Are you ready to leverage this powerful pricing strategy to its full potential? 🚀 #PricingStrategy #BusinessGrowth #ValueBasedPricing #MarketDynamics #ProfitMaximization

What Does PRICE Mean to You? Have you ever stopped to reflect on what pricing means in your business? For some it may just be a number generated in a spreadsheet based on costs but to me, it means SO much more. Price is value. Price encompasses so many opportunities to drive success and create value: 💡P ➡️ Profit Optimisation Pricing helps optimise profitability by strategically setting product and customer prices that maximise revenue and margin. It empowers us to achieve sustainable financial growth. Smart pricing decisions pave the way for long-term business success. 💡R ➡️ Relationship Building Pricing fosters strong relationships with customers by delivering value to them. It goes beyond numbers and transactions, allowing us to create lasting partnerships based on trust, transparency and mutual value. It’s not just relationships with customers, but also with suppliers, distributors, strategic partners etc. and of course within our own business by cultivating cross-functional collaboration. 💡I ➡️ Innovative Solutions Pricing is a catalyst for innovation. It pushes us to think creatively, explore new solutions and find unique ways to solve customer challenges. By embracing innovation in pricing, we can unlock new opportunities. We continuously explore strategies to stay ahead of competition, deliver greater value and drive growth for both our customers and our business. 💡C ➡️ Customer-Centric Approach Customers are at the heart of our decision-making. We listen to them, understand their pain points and tailor our strategies to meet their evolving needs. Customer centricity ensures we prioritise the needs of our customers and deliver maximum value to them. We transition from being inwardly focused on our business to taking an outside-in approach. 💡E ➡️ Enhancing Value Price empowers us to enhance the value we bring to our customers. It's not just about the cost; it's about the benefits and outcomes to our customers and creating a differentiated offering that gives us a competitive advantage. We are thinking differently by understanding, creating, communicating and capturing value within the constraints of our competitive environment, company costs and organisational capabilities. Combined with value selling, it’s a game changer! What does pricing mean in your business? #pricingstrategy #manufacturing #accountants #ukmanufacturing #b2b

This is How Doubling Your Price Can Triple Your Profit :- Key Insight: Raising prices can increase your profits even if it reduces sales volume. Example: We recently doubled the price of a product in one of our portfolio companies. As expected, we saw a 35% reduction in conversion rates. However, our revenue and profit soared! Why? Let's break it down: Original Scenario: Selling at $1,000 with a 50% margin ($500 profit). New Scenario: Selling at $2,000 with a 75% margin ($1,500 profit). Even with a one-third reduction in sales, the profit from the remaining sales tripled. This strategy not only increased our top-line revenue but also reduced the costs associated with delivering the product, making the business more efficient overall. Takeaway: Don't be afraid to test significant price increases. The market may be more inelastic than you think. #PricingStrategy #RevenueGrowth #BusinessSuccess

Do you know how your customers make decisions?   This great research from McKinsey ranks the factors used by the customers of over 200 distributors.   Where you think a price ranks amongst these factors? Is it #1?   Actually, these customers rank price only #6 in importance, behind range of products, availability, customer service, rep relationship, and delivery time.   Where do your customers rank price and what doe their decision making landscape look like?   #BBA2024 #DoubleYourPrice #MarketStrategy #Innovation #BusinessGrowth     https://lnkd.in/giEwixiE

Price increases; can your Gross Margins beat competition? What if a 1% price increase could boost your profits by 10%? Yet, many sales teams think that they have to reduce prices to be competitive. Gross margin is the financial engine that drives your company's growth, innovation and competitiveness. When your team understands gross margin at every level, they'll approach negotiations with confidence and deliver results that drive sustainable growth. Here are 5 key points to instil a deeper understanding within your sales team that can transform results: High Price Concerns ↳ Make it clear that gross margin is not just profit, but supports their salaries, the company's infrastructure and growth. Competitiveness ↳ Strong margins enable reinvestment in innovation, giving your company a long-term competitive advantage. Attitude Shift ↳ Shift from focusing on price pressure to creating value by linking margins to sustainable business growth. Operational Costs ↳ Show how margin management funds investments in technology, talent, and resources for greater efficiency and growth. Customer Value Proposition ↳ Train your team to sell on value, demonstrating the full return on investment to customers. Explaining above points by walking my teams through the price calculations and P&L analysis, they shifted from complaining about high prices to proactive identifying products and customers that are undersold. This change in mindset has enhanced our pricing strategy and improved our overall gross margin. What's your experience with pricing and sales strategy? Leave your comments and let's start a conversation. #SalesStrategy #ValueSelling #GrossMargin #BusinessGrowth #SalesLeadership #CompetitiveAdvantage #SalesTraining #CustomerValue #RevenueGrowth #SustainableBusiness