How Pricefx Supports Your Sales & Customer Experience
March 8th, 2023 (Updated 03/09/2023) | 13 min. read
By Robert Smith
This year we were awarded the Silver Stevie Awards for Customer and Sales Service! And in this current period of unpredictable market forces (inflation one minute – recession the next), supply chain disruptions and a suite of uncontrollable events like pandemics and regional conflicts, it has never been more important to have your company’s pricing ducks in a row. Of course, a natural part of that pricing organization process is enabling your pricing to be all it possibly can be and adopt an automated pricing software solution like our own award-winning Pricefx solution. Of course, as part of either your buyer’s journey or even your after-sales and/or after-implementation service you want to make sure that you are receiving the best possible sales and customer experience. And it’s great that you are thinking that way. If you are not happy and not receiving the value you expected, we’re not happy either. In this article, we will answer all your questions on how Pricefx supports your sales and customer experience, so you know exactly what to expect.
At Pricefx, we have spent more than 12 years analyzing the pricing requirements of each individual client and configuring their pricing technology solution accordingly.
With that level of experience and expertise, we feel perfectly positioned to give you the kind of support required to not only have an effective operating pricing system, but one that is providing value equal to or greater than the value case made to justify the investment in Pricefx.
With this article we will take a deep dive into the way our team jumps directly behind supporting your sales and customer experience with us and provides you with the level of customer success your company needs to flourish with your Pricefx pricing software solution.
The 7 Ways We Support Your Sales and Customer Success
At Pricefx, we are a pricing software platform that takes immense pride in providing your business with a range of features and services to ensure your success with our tool. From personalized onboarding and support to continuous updates and improvements, to a comprehensive set of pricing tools and analytics, Pricefx is designed to help businesses optimize their pricing strategies and achieve their pricing goals, while delivering a superior customer experience. Let’s briefly summarize the 7 ways we enhance your sales and customer experience with us;
- Establish, Monitor, and Evaluate Your Success Through (Value) Metrics
- Guide You Through Onboarding, Launch, Adoption & Post-Implementation
- Create a Roadmap to Drive and Increase Your Value from Pricefx
- Usage & Satisfaction Monitoring for Success
- Build Value Cases and Case Studies to Promote Best Practices
- Escalation Enablement for Commercial & Technical Matters
- Becoming your Long-term Partner
1. Establish, Monitor, and Evaluate Your Success Through (Value) Metrics
Choosing the right pricing software vendor can be a game-changer for businesses seeking to optimize their pricing strategies. However, investing in a pricing software solution is only the first step. It’s essential to ensure that your chosen vendor provides the necessary support to help you succeed. One critical aspect of this kind of support that we take quite seriously is the establishment, monitoring, and evaluation of your success as their customer through value metrics.
Value metrics enable the customer and Pricefx to validate the investment case for the software and show the business on an ongoing basis the impact of pricing on margin and price management. Pricefx’s standardized functionality in Sales Insights and Customer Insights makes it easy to visualize areas of opportunity for action in margin and price improvement. Additionally, we provide customers with comparison dashboards that make it easy to evaluate the impact of specific pricing initiatives and actions over time to show the impact of pricing on customer profitability.
We prefer to capture the value that your company is receiving from the get-go. Our unique Pricefx Plasma tool allows you to gauge your pricing against other companies in your industry and even wider beyond to see how pricing trends develop in other industry sectors too. Plasma uses transaction and quoting data from more than 20 Key Performance Indicators (KPIs) benchmarked against 100 companies across 10+ industries. The result is a series of dashboards with multiple pricing performance metrics that are designed to answer your company’s top of mind pricing analytics questions, while making sure you are using our software to get the most out of it you possibly can.
Plasma can also be used as an insight to gauge which KPIs that you would like configured into your Pricefx solution as standard for your business as part of your implementation. Learn about the type of insights you can get into your company’s pricing in the article below.
The KPIs in Plasma help identify areas where you are excelling and those that require improvement. Regular review of these provide insight for the development of focus areas to drive actions for improved pricing and process performance.
2. Guide You Through Onboarding, Launch, Adoption & Post-Implementation
As your long-term business partner, at Pricefx of course we want your business to succeed and use our end-to-end pricing software to help you to improve margins, revenues, efficiency and more. However, to construct your success to its ultimate level, we like to help you put a solid foundation in place to build upon.
That means we will assist you with implementation and with training in our product and enable you to become self-sufficient as soon as possible. However, that does not mean that we are going to abandon you as soon as you’re up-and-running using the Pricefx pricing software solution independently. Quite the contrary.
Throughout the three lifecycle phases (i.e., onboarding/launch, adoption/implementation, post-implementation), we will assist you to drive value with our solution.
However, you also need to concentrate on physically getting the tool installed and up-and-running (in order to eventually optimize driving your company’s value). If you end up choosing Pricefx as your pricing software of choice, we want to put everything on the table so you know exactly what to expect (and what not to expect) from us in terms of post-implementation support.
We want to give you the information you need to have confidence in your decision to choose us.
An important aspect of this support is the assignment of a Customer Success Executive or Manager (CSE or CSM) to an account at the end of the sales cycle.
The CSE becomes responsible for the success of the customer and is the internal advocate (the CEO of the account, internally) to ensure customer needs are addressed and necessary resources are made available to support successful outcomes.
The last thing you need is to discover that you’re not getting everything you were expected (or promised) in terms of software support. For full transparency, check out this handy article for all the answers you need to; ‘What Software Support Can I Expect from Pricefx After Implementation?’
3. Create a Roadmap to Drive and Increase Your Value from Pricefx
Revisiting your company’s anticipated value proposition for a moment, Pricefx works together with you to create your organization’s personalized Pricing Maturity Map (PMM) to increase the value of your pricing journey and benefits from using our software.
The PMM is a comprehensive framework designed to help businesses evaluate their pricing capabilities and identify areas for improvement. The PMM is based on a set of best practices and benchmarks that have been developed through years of experience working with businesses across a wide range of industries. The framework consists of five stages, ranging from basic to advanced pricing capabilities, with each stage representing a set of key competencies that businesses can develop to improve their pricing performance.
By using the PMM to evaluate their pricing capabilities, businesses can gain a better understanding of their strengths and weaknesses and develop a roadmap for improving their pricing strategy and execution over time.
The PMM can be a valuable tool for businesses of all sizes and industries, as it provides a structured approach to pricing improvement that is based on proven best practices and real-world experience and is used throughout the value capture lifecycles (as explained above).
4. Usage & Satisfaction Monitoring for Success
Usage and satisfaction monitoring are critical components of Pricefx’s customer success and satisfaction strategy. By monitoring usage and satisfaction levels, Pricefx can identify areas where customers may be struggling or experiencing issues, and proactively address these concerns to ensure that customers are able to fully leverage the capabilities of the software. Usage monitoring involves tracking how customers are using the software, including which features they are utilizing most frequently and where they may be encountering challenges. This information can be used to develop targeted training programs and support resources that can help customers overcome these challenges, drive user adoption and achieve better results.
Satisfaction monitoring involves gathering feedback from customers on their overall satisfaction with the software, in addition to their experience with Pricefx’s customer support, monitoring of the established value metrics, Pricefx news and product updates, implementation delivery and other services. Often User Net Promoter Score (NPS) and Customer Satisfaction Surveys are conducted, online reviews and other feedback-collecting mechanisms are used in the satisfaction monitoring process.
With Pricefx, your assigned Customer Success Manager meets with your team on a regular cadence – depending on your company’s organizational structure and your Pricefx Project Team – with a cross section of your leadership/pricing project steering team for a business review.
The purpose of the business review is to go over several things that our Pricefx team bring to the table to assist in your success and hopefully in a perfect world, several meeting/action items that you as the customer would bring to the table as well. The more honest you can be in telling us precisely what you need, the better.
This level of feedback from our clients can be used to identify areas where Pricefx may need to improve its offerings, in addition to recognizing areas of excellence that can be leveraged to enhance customer satisfaction. A strategic account plan is also developed for each customer.
For example, on many occasions we will show you our Pricefx product roadmap and help you understand what new products/pricing functionalities we expect to be in our future offering. We will explain to you and your team what is being offered in the upcoming product update and what value your organization can expect to receive from the new functionalities on offer and how they relate to your unique overarching business objectives.
5. Build Value Cases and Case Studies to Promote Best Practices
Pricefx builds value cases and case studies to promote best practices for customer success by focusing on the following steps:
- Identifying customer success stories: Pricefx identifies successful customer stories that showcase how the solution helped clients achieve their business goals. These stories are usually based on real-life customer experiences, and they highlight the benefits that the clients received from using Pricefx solutions.
- Gather data and feedback: Pricefx collects data and feedback from customers about their experience with the product. This information is used to measure the impact that the solution had on their business, including improvements in efficiency, revenue, and customer satisfaction.
- Create a value proposition: Based on the data and feedback collected, Pricefx creates a value proposition that outlines the potential benefits of expanding the solution into new functionality or new business areas. The value proposition is tailored to the specific needs and goals of the target audience.
- Develop a case study: Pricefx develops a detailed case study that highlights the customer success story and provides specific examples of how the solution helped the client achieve their goals. The case study includes metrics and data to support the value proposition and shows the ROI of the solution.
- Promote the case study: Pricefx promotes the case study through various channels, including social media, email marketing, webinars, and events. The goal is to reach a wider audience and demonstrate the benefits of their solution to potential customers.
By following these steps, Pricefx builds value cases and case studies that promote best practices for customer success. These success stories help to build trust, credibility and develop new ideas for customers, and they demonstrate the tangible benefits of using the Pricefx pricing solution.
6. Escalation Enablement for Commercial & Technical Matters
Escalation enablement is a critical component of customer success, particularly when it comes to commercial and technical matters. Pricefx understands the importance of providing customers with the tools and resources they need to escalate issues effectively and efficiently. To that end, the company has developed a comprehensive escalation process that enables customers to escalate issues to the appropriate party quickly and easily.
The escalation process begins with a dedicated Customer Success Manager who is responsible for overseeing the customer’s account. If an issue arises, the customer can contact their customer success manager, who will triage the issue and escalate it to the appropriate team member.
Pricefx’s escalation process is designed to be transparent and collaborative, with clear communication channels and well-defined escalation paths. By enabling customers to escalate issues in a timely and effective manner, Pricefx ensures that issues are resolved quickly, minimizing downtime, and maximizing customer satisfaction.
Pricefx’s commitment to escalation enablement for commercial and technical matters provides its customers with the tools and resources they need to escalate issues effectively and efficiently, demonstrates its commitment to customer satisfaction and long-term relationships with its clients.
7. Finally, Becoming your Long-term Partner
Pricefx becomes your long-term business partner by providing you with a comprehensive set of tools and services designed to support your business goals. It’s not a one-off. It continues throughout the entire length of your relationship with your company. Our customer success team and your personally assigned Customer Success Manager continually works closely with you to understand your unique needs and challenges and develop customized solutions that address them.
Pricefx’s focus on collaboration and transparency ensures that you are always aware of the progress being made and have a clear understanding of how their solutions are impacting your business.
What’s more, we also offer ongoing support and training to ensure that you are getting the most out of our pricing solutions in your sales and customer experience.
For a more in-depth look at all the Pricefx training offerings, checking out our article below. Or if you’re ready to kick off with direct learning, you can head to the Pricefx Knowledge Base.
Or if you’re ready to get started with implementing a Pricefx solution for your company’s pricing needs, talk to one of our experts now.