Zilliant’s Post

As #inflation cools, #B2B companies must ensure #pricing reflects real-time market conditions. Read this blog post to discover three tips for intelligently making price adjustments as costs fall 👉 https://lnkd.in/gjJhvwR8 #pricingstrategy #pricingstrategies #pricingsoftware #priceadjustments #pricemanagement #priceoptimization #economictrends #revenuegrowth #revenuemanagement #profitability #profitablegrowth #inflationinsights #inflationtrends

With the rise in inflation, it is inevitable that the costs of providing products and services will increase too. Should you raise prices to cover for these costs? Companies generally have three options: 1- Pass on costs completely to customers by increasing prices. 2- Stomach the increased costs and take a slight hit to the bottom line. 3- Adopt a hybrid approach by increasing the price slightly while absorbing some costs. In any case, raising prices can be challenging for maintaining customer trust. However, transparency and authenticity are crucial. Communicate transparently and explain any price increases and the impact of inflation. Also reassure customers that their investment is worthwhile by emphasising the unique benefits of your products/services. Acknowledging inflation and proactively communicating with customers fosters loyalty and trust, even in uncertain times. By leading with transparency, your brand can build a stronger, more resilient relationship with customers. Interesting read: https://lnkd.in/g9H9uB_r #CustomerRelationship #Inflation #Pricing

Five ways to ADAPT pricing to inflation Price adjustments due to inflation call for nuanced approaches that, when done well, can strengthen customer relationships and overall margins. #ADAPTPricingToInflation https://lnkd.in/gAHfZQNF

#CFO + #pricing vs #inflation Managing pricing amidst inflation can be challenging for B2B companies. Check out these 5 tips to help navigate through uncertain times and ensure #profitablegrowth. #pricing #inflation #B2B http://ms.spr.ly/6042cUZus

How do you adapt your pricing to inflation? The Consumer Price Index (CPI) rose 7.5% in 2021, faster than any time since 1982. Increasing prices to match inflation is a slippery slope. Many companies’ knee-jerk reaction is to raise prices at or around the rate of inflation, but doing that can ruin customer relationships. However, keeping prices the same will eat up profits and could even put you out of business.    According to McKinsey, here are 5 ways to ADAPT your pricing to inflation: Focus on total customer and product profitability, not just cost changes Customize price increases for each customer and product segment, but remain competitive on key items Have a cross-functional team of dedicated decision makers to manage price increases Reimagine product and/or adjust product designs to help manage costs Meticulously track performance management and make adjustments as you go Finally, don’t forget to clearly communicate the steps you’re taking when dealing with inflation. Tell your customers you recognize the problem, and that you're taking thoughtful steps to manage pricing while keeping them top of mind. At Value Logic Solutions, we’ll help you find ways to communicate price changes to your existing customers. We'll also find the pricing model that'll generate the highest profits for you. Are you ready to stop underpricing your products and services? Get our free pricing system today! Q. How are you adapting your pricing to inflation? #managementconsulting #inflation #businesspricing #pricing #operationsmanagement

Five strategies for businesses to adapt #pricing in response to #inflation: 1) Adjust discounting and promotions while maximizing non-price levers 2) Develop a nuanced approach to price changes 3) Accelerate decision-making processes 4) Plan alternatives to pricing for cost reduction 5) Track execution meticulously These approaches emphasize the importance of thoughtful pricing, customer relationships, and long-term value amidst inflationary pressures. For more detailed insights from McKinsey, visit the article here: https://lnkd.in/gnKu9GXj

During inflation, businesses must raise prices, but passing costs to customers is challenging. Rapid price hikes can impact sales and loyalty. Implementing a robust strategy, understanding market dynamics, and effective communication are essential for sustainable price increases. Visit here to learn more: https://bit.ly/3ySLWlX #Inflation #Businesses #RaisePrices #CustomerLoyalty

Did you know a simple 1% increase in pricing can potentially deliver an 8% increase in net profits? With the current climate of persistently high inflation, ensuring accurate pricing has become more important than ever Increasing your prices by 1-5% every year enables you to keep up with inflation and rising costs AND your customers will be used to these regular price increases so there will be less resistance Imagine, in a year’s time, your business’s profits are down and you didn't increase your prices now, will you have the courage to say it was your error to not increase prices to meet the rising costs? How will you then tackle the declining profits for the year ahead at that point? Difficult decisions only get harder the longer you hold them off... Learn how to to increase prices without upsetting your customers with our formula > https://lnkd.in/gX27ZqFD #inflation #increaseprices #pricing

Who can blame the 63% or the 22% who are unsure? After all you made it through 2023 and you are now one year better at your skill set. Inflation aside price increases are common in business and the beginning of a new year is often the best time to announce a new pricing structure.

Stagflation? KEY POINTS Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace, below the 2.4% estimate. The personal consumption expenditures price index, a key inflation variable for the Federal Reserve, rose at a 3.4% annualized pace for the quarter, its biggest gain in a year. Consumer spending increased 2.5% in the period, down from a 3.3% gain in the fourth quarter and below the 3% Wall Street estimate. https://lnkd.in/dhz2An6f