The Key to Keeping Customers Happy in the Chemical Process Industry
The Key to Keeping Customers Happy in the Chemical Industry In this article, we’ll explore what makes pricing in the chemical industry uniquely complex, why companies are often dealing with thousands of price points, the impact of ever-changing input costs and discover the key to winning more opportunities while protecting the bottom line! Pricing in the chemical industry is more complicated than for other industries as you often have complex product portfolios and customer pricing is often negotiated individually. This pricing can come in the form of spot or negotiated pricing for customers, or indexed or formula pricing for...
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How the Chemical Industry Can Learn from 2020 and Prepare for 2021
Chemical Industry – Learn From 2020 and Prepare for 2021 Last year presented a lot of challenges for the chemical industry. Robert Smith, an industry expert at Pricefx, even wrote an article on ideas for what the chemical industry could do to prepare when it was clear that suddenly, “business as usual“ would not be enough to sustain an organization. Well, it’s almost been a year or so since “lockdown”, “quarantine” and “face mask” became part of our daily vocabulary, so, it’s time we took a look back at 2020 and forward to 2021 and beyond. We spoke to Martin...
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Addressing the Impact of the Coronavirus on the Chemical and Process Industries
What is the Impact of COVID-19 on Chemicals and Process Industries? We’ve now conducted business for several months under the shadow of COVID-19, and it’s likely dramatically impacted our businesses and goals for 2020. Some sectors have seen significant decreases in demand for products, which may be starting to rebound as economies reopen and employment increases. Some sectors more closely tied to medical, hygiene, and food packaging have seen unprecedented demand and challenges in maintaining supply to customers. A high degree of uncertainty remains on business conditions for the months ahead, as economies restabilize and the potential for a second wave of COVID-19...
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Speed Drives Sales, Time to Step on the Gas!
Key Takeaways: Lengthy sales cycles lead to lost deals Prospective buyers have often already performed 57% of the buying cycle before contacting you Having the ability to align your pricing globally leads to more successful deal closing The longer a lead lingers, the more likely it’s lost. Ask any salesperson, not being able to react to opportunities in a timely fashion, with informed pricing, will leave you out in the competitive wilderness. So, if you are not leveraging a fast, dynamic price management solution into your sales process, you are setting yourself up for a financial fall. Time to take...