4 Ways manufacturers Can Gain Better Pricing Data Visualization

This post originally appeared on INSIGHT2PROFIT.com Pricing data can be dense. If no one is reviewing it, managing it, comparing it or scrutinizing it, it’s likely your organization is missing price leaks you could otherwise put a stop to. From volume discounts to price overrides, profits are lost and margins are cut, but do you know by how much? Can you identify your true pocket price for your top selling products? If not, you may have a data visualization problem. But like any problem, a solution exists, you just have to seek it out. Here are four ways to gain better visualization into your organization’s pricing data. 1. Establish Pricing Ownership: In most manufacturing businesses, pricing is a responsibility divided amongst marketing, sales, finance, product teams and other executives. But whose job is it to see the big picture? If you can’t validate hiring a pricing manager, you can develop a Pricing Ownership Matrix. In a decentralized customer environment where no pricing leader is appointed, you can define pricing area ownership. Consider catalog and list pricing, discounting, key accounts, geography and business divisions. Then ensure these “area owners” meet often to talk about the big picture of pricing. 2. Search Out Discounting Visibility: Do you know how many discounts your sales team is offering? How about your customer service team? From freight and volume discounts to rebates and “long-time customer” pricing, the hits to your margins add up. Obtaining clear visibility to your discounting structure through a Pricing Waterfall is a powerful way to determine pricing leaks and non-value added discounts. Discover how to determine your true pocket price in the this 1-minute video. 3. Determine Product Value: Your organization deserves to be paid for the value it creates. But do you know which products create the most value for your company? Most…read more >

Big Data, Mobile and Social Media Dominate the Conversations at the 2014 BMA Global Conference

By Matt Sonnhalter, Vision Architect I recently attended the Business Marketing Association (BMA) global conference which was held in Chicago May 28-30, 2014. The largest B2B marketing conference in the world, BMA14 was attended by a record 950 B2B marketers from 450 firms, 33 states and 12 nations. The 2014 BMA conference also deployed two digital platforms—Livecube and ISEBOX—to enable speakers to take polls and attendees to ask questions, follow tweets, share photos and access conference content. If you are in charge of planning live events/conferences, I would suggest checking out these two resources. The 3-day conference was jam packed with content – featuring 79 speakers and presenters leading 41 sessions—three pre-conference programs, nine panels, 12 keynotes and 17 firestarters. These sessions covered a wide array of topics and trends of critical interest and importance to B2B marketers today. Someone at the conference referenced the amount of information presented was like drinking from a fire hydrant! Here are a few themes I saw throughout the entire conference: Big Data It’s becoming more and more difficult for marketers in today’s environment and I thought one illustration that did a great job of representing our challenge was the Marketing Technology Landscape graphic by ChiefMartec.com. We are surrounded by data, but starved for insights; that is, data does not automatically equal insight. Today’s marketers need to solve both analytical and creative issues as we continue to trend toward extreme personalization…segments of one. Mobile Since mobile devices are the predominant way people globally access the web and information, mobile is a critical factor when planning future marketing efforts. Here are a few stats from the conference that help reinforce the importance of mobile: Mobile data usage doubled in 2013 In the US, 1 of every 5 minutes spent on mobile are on either Facebook…read more >