Pricing committees play a crucial role in effectively managing pricing strategies within an organization.
In this episode, our experts explore the main objectives of a successful pricing committee, including version control, minimizing politics through structured feedback loops, and streamlining implementation management and tracking processes. Learn how to establish a well-functioning pricing committee, engage all stakeholders, and create a system that ensures pricing decisions are made efficiently and effectively. With practical tips and real-life examples, this episode will help you harness the power of pricing committees to optimize your pricing strategy and maximize profitability.
Welcome to 20 days of pricing tips—part 17. I’m Brett, a member of the pricing team and I’ve worked on 41 pricing projects. Today we're breaking down Pricing Committees.
The key to remaining competitive in the booming SaaS environment is pricing. So how do you ensure you remain competitive with your pricing? Dedicate an entire pricing committee to continually evolve your pricing strategy.
Since pricing is influenced by mostly every team, there are a lot of opinions, and fears that come with those opinions. A pricing committee is an avenue to those opinions and mitigates those fears through a process that allows teams to cut through the noise and emotions of pricing changes.
Their main objectives should be: version control for pricing, minimizing politics through structured feedback loops from all stakeholders, and a streamlined implementation management and tracking process.
Thanks for checking out our pricing tips. If you want to connect with our pricing team email Patrick@profitwell.com and we’ll send over the intro.