HOW TO: Help your sales force to attain excellence in price execution
Price is widely known as the most powerful profit lever so it is no surprise that executives frequently commit to improving their firms’ pricing outcomes as the means to delivering profitable growth. However, often in practice, not all of a projected price rise is actually realised by sales teams, in spite of these seemingly clear commitments from the top. This is particularly true in B2B organisations where there is more discretion to discount on the part of sales staff.
Some firms are consistently more successful than others though in driving price rises though - these are the organisations that are rigorous in their approach and understand how transparency, internal benchmarking and appropriate incentivisation of sales staff help them to realise their objectives.