Pricing

Hidden Profit Opportunities – Don’t be Fooled by Averages

By Derrick Herbst
June 19, 2014

A lot of opportunities can be masked by just looking at averages. Not only might you miss opportunities to improve, you may also miss areas of potential risk. For example, when you have a wide variation of prices in a segment, not only is there a quantified benefit opportunity to increase the lower prices, but you should also consider the potential risk that the higher ones in the group will migrate down to the lower level.  So, there is a dual incentive to increase those lower prices. But with so much data and so many dimensions, it is often difficult to perform all of the manual analysis to find these opportunities.

Watch this short chalk talk and learn about an automated approach to quickly find hidden profit opportunities in your existing transaction data:

  • automated profit discovery , averages , B2B Pricing , pricing analytics , profit analytics , profit opportunities , Vendavo Profit Advisor

    Derrick Herbst

    Derrick has over 25 years of experience in pricing management in various sales, marketing, strategic planning and consulting roles in large B2B enterprises. Derrick has been with Vendavo since 2005, initially in the Business Consulting group where he worked with prospects to understand their pricing requirements/needs and how the Vendavo solution can address/meet those needs. In this group, he also developed solution proposals and performed related demonstrations, developed business cases and worked with customers in the Requirements process to transfer the learnings of the sales cycle to the implementation team.  Derrick moved to the National Account Executive role in early 2010 and has successfully led several sales engagements by leveraging his knowledge of pricing and the Vendavo solution. Prior to Vendavo, Derrick worked for Dow Chemical for 12+ years in various field sales, marketing and strategic planning roles.