What’s Sales Compensation & How Can You Make it More Effective?

June 30th, 2022

Pascale Comaty
Product Marketing Specialist at Pricefx

What’s Sales Compensation and How Can You Make it More Effective?  For a lot of organizations, their salespeople are the main drivers to bringing in deals and making money. So, it’s no surprise that you’d want to make sure that they are well compensated. But how do you make the sales compensation plan effective and fair so that your sales team continues to be motivated to bring in deals that grow your business?  Recently at Pricefx, one of the topics we’ve been discussing recently with our customers is about Sales compensation and sales performance.  We’ve been discussing how to make...

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The Best Things That B2B Can Learn from B2C: Getting Digital

June 22nd, 2022 (Updated 06/23/2022)

Jochen Schmidt
Manager of Solution Strategy EMEA at Pricefx

The Best Things That B2B Can Learn from B2C: Getting Digital  It is no secret that the global pandemic expedited the shift from in-store sales to online shopping in the B2C environment. What is less well known is that the shift is becoming increasingly apparent in B2B sales. If you’re still working exclusively with sales reps and not offering your B2B customers an online channel for their purchases, you’re already behind the latest trends. Sales tactics may be slow to adapt, however, preferences, behaviors, preferences and expectations of B2B customers are changing rapidly. McKinsey reports that 65% of B2B companies...

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Airline Pricing Strategies Explained: Types, Examples & Tips

June 20th, 2022

Ken Edwards
Marketing Specialist at Pricefx

Airline Pricing Strategies Explained: Types, Examples & Tips  As an airline trying to improve yields in the ultra-competitive Airline Industry, you face unique challenges that other industries don’t need to be concerned about. Your business is currently facing more disruptions than other industries as you continue to be affected by COVID-19, pilot shortages and the rising cost of fuel. In times like these, an airline’s pricing strategy is critical to ongoing success.  At Pricefx, we’ve spent the last 10+ years assisting companies across several industries in becoming more pricing agile and more efficient. This resulting pricing dexterity helps businesses to...

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Important Pricing KPIs: What Are They & How Are They Measured?

June 17th, 2022 (Updated 06/20/2022)

Hartwig Huemer
Value Ambassador in Revenue at Pricefx

Important Pricing KPIs: What Are They & How Are They Measured?  It’s easy enough to describe what a Key Performance Indicator (KPI) is, right? Sure, and 99 out of 100 of you would be right in saying that a KPI is a measure that indicates how on course or how well you are tracking towards you are a goal or an objective that you seeking to achieve in either your personal or business lives. But are you as right as you could be with this definition? It might be a shock to learn that definition is just one half of...

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Why You Need Pricing Software – Building A Business Case 

June 2nd, 2022 (Updated 06/06/2022)

Hartwig Huemer
Value Ambassador in Revenue at Pricefx

Why You Need Pricing Software – Building A Business Case The question of whether to purchase a pricing solution is a difficult one. Do you really need pricing software? Can’t you do without it? And if you’ve decided that pricing software is a need and not a nice to have, you’ll have to convince others. You might discover that it’s not just other projects that you might have to go up against but inertia.  At Pricefx, we’ve spent many years helping companies satisfy their need for cloud-native pricing software, by providing a robust, cloud-native pricing solution with which they can...

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What is a Scoping Workshop? (In a Pricing Software Project)

May 30th, 2022

Johnson Kolettu
Senior Project Manager in Customer Solutions at Pricefx

What is a Scoping Workshop? (In a Pricing Software Project) Whether you’re tuning up for your company’s first-ever pricing software project or you have already launched several of them in staged expansions to your existing pricing functionality, you almost always begin with the same question. What is the best approach to cover all the aspects of the pricing software planning and preparation for the project? To align people with your vision, brainstorm new ideas, make sure you have all your pricing ducks in a row and finalize your methodology with a clear plan to start, go for a scoping workshop...

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How Does AI Work in Pricing Software? – Made Simple

May 27th, 2022

Sylvain Rougemaille
Senior Product Manager at Pricefx

How Does AI Work in Pricing Software? – Made Simple It is no secret that these days your data can lead to Artificial Intelligence (AI) powered algorithms helping companies just like yours price items based on price optimization, competitor pricing, inventory levels, and customer response to sales promotions. Using AI-informed pricing software can help grow profit margins, develop loyalty from price-conscious customers, and eliminate the hard manual work and take away mystery of setting prices. But what is more of a mystery is simply explaining exactly how AI works in pricing software – which is what we will do in...

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Dynamic Pricing Strategy – Tips & Examples + Pros & Cons

May 16th, 2022

Ken Edwards
Marketing Specialist at Pricefx

Dynamic Pricing Strategy – Tips & Examples + Pros & Cons When your customers visit your bricks-and-mortar or online store to purchase one of your products, most of the time they will want to know the exact prices of your products beforehand. However, if you are providing services like that of doctors, lawyers, accountants, plumbers, or electricians, setting an exact price is not a simple task. Prices vary because of multiple factors, like time, length and complexity of the service provided. That is a form of dynamic pricing and it certain cases it can be used for pricing your products...

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Everyday Low Pricing Strategy Explained + The Pros & Cons

May 4th, 2022

Idrissa Diop
Solution Strategist at Pricefx

Everyday Low Pricing Strategy Explained + The Pros & Cons You’ve probably heard the phrase “everyday low pricing” (EDLP) before and it’s possibly lodged its way into your subconscious, particularly if you live in North America. Why does it ring a bell? Because EDLP this is the pricing strategy that Walmart has used to become retail powerhouse. Amazon has followed in Walmart’s EDLP footsteps in the E-commerce sector. But is it for your business too? While it may be tempting to simply carve your prices back to rock bottom levels, it is not as simple as that. There are several...

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What Happens To The Pricing Team When You Get Price Management Software?

May 2nd, 2022

Jose Paez
Solution Strategist at Pricefx

What Happens To The Pricing Team When You Get Price Management Software? Buying pricing software can be a scary prospect. It’s a big investment and requires a comprehensive change management plan to drive adoption. Once you mention that you might be getting pricing software, no doubt you’ll have questions from members of your team wanting to know what will happen to their roles in the company. And if you lead the team you’ll probably want answers to those same questions  At Pricefx, we’ve spent the last decade helping companies of all sizes across all industries to elevate their pricing strategies, fine...

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Why Am I Paying for A SaaS Subscription I Haven’t Started to Use Yet?

April 28th, 2022

Darius Jakubik
Account Executive in Sales at Pricefx

Why Am I Paying for A SaaS Subscription I Haven’t Started to Use Yet? There’s nothing worse than having finally convinced the executives that the company needs new software than being called in a couple of months later to explain why they’re paying for a tool but haven’t had a chance to use all the features.   Having spent the last decade sharing our cloud-based offering with companies looking to optimize their pricing strategies and processes, we’ve had to answer this question often. And we get it. Buying software-as-a-service (SaaS) solution takes a definite mindset shift. But once you get it,...

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How to Implement a Pricing Strategy: A Guide

April 22nd, 2022

Idrissa Diop
Solution Strategist at Pricefx

How to Implement a Pricing Strategy: A Guide  How you set your prices and the strategy behind your price setting can have a range of implications for your business. For example, did you know that not every price you set needs to maximize your profit margins? Nor is every price on your products required to increase your sales volume. It could be you mix and match either of those two pricing strategies on different goods across your product line. And what’s more, you might even implement different strategies again on more of your products – and it could all be...

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What Are Clusters, Partitions, Production & Instances in Pricing Software?

April 8th, 2022

Jochen Schmidt
Manager of Solution Strategy EMEA at Pricefx

What Are Clusters, Partitions, Production & Instances in Pricing Software?  If you’re new to pricing software having spent most of the last generation with your company’s Pricing Department doing all their work in Excel, the chances are you’re now faced with a new range of terms you have never encountered before.  For example, using the power of the innovative technology at your fingertips, you want to differentiate between the prices you charge across different regions because the distribution costs vary wildly between California and New York, or Germany and Spain. But what the heck is the point of the differentiation...

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Realize

The Future of Pricing Software is…

May 2nd, 2019 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Key Takeaways: Multiple industries have been disrupted by new technology because incumbents were comfortable with the status quo If pricing professionals don’t start adopting forward-thinking views of their data, there will of those who do The future of pricing is: fast and& flexible, takes into account omni-channel processes, is customer-centric, intelligent, integrated, and democratic As you may have guessed, pricing is something that I am extremely passionate about so no wonder I found my way to a company like Pricefx. One of the things that I do here is speak about pricing and its impact to business. More importantly though,...

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