Blog

Twitter Q&A Digest – Unlocking Pricing Power

By Michael Huard
June 9, 2016

Yesterday we held our first Twitter Q&A with pricing power expert Stephan Liozu. You can find the whole conversation here, but in case you missed it we’ve compiled some of the best, most insightful tweets from our conversation.

But first, a quick introduction to our expert:

Stephan Liozu is the Founder of Value Innoruption Advisors, a consulting boutique specializing in pricing, value, and change management. Stephan holds a Ph.D. in Management from Case Western Reserve University where he researched the topic of transformational change and leadership in pricing. He has also written several articles on strategic pricing issues for the Journal of Professional Pricing and authored two books, The Pricing Journey and Pricing and Human Capital.

Hear MORE from Stephan in our webinar with him: Pricing Power: Unlocking the Secrets to Driving Profitable Growth.

Our Q&A with Stephan started simple enough with the hopes of setting the stage on pricing power, asking what that term means.

 

 

The conversation then dove right into the heart of pricing power and where companies need to look to harness the benefits of pricing power. In particular, Stephan broached the subject of value and the importance of understanding how to capture it.

One thing that drove Stephan to really look into pricing power was the fact that top finance thought leaders, such as Warren Buffett and Jim Cramer, were taking notice in the media. This prompted Stephan to conduct research on the key drivers and dimensions of pricing power.

This is not just innovation in products; it is innovation in pricing strategies, in marketing and branding, and in organizational prioritization. It’s about staying ahead of the curve at all times and this all ties in to how an organization can begin their pricing power efforts.

Stephan promotes the idea of intentional management. In order to actually succeed in harnessing pricing power like the pricing power masters mentioned here, an enterprise must focus on pricing as a strategic driver of the company’s profitability and prioritize it along with other company objectives.

By making pricing power a top level priority, the opportunity for innovation and increased overall financial performance grows. But first, the conversation about pricing power’s effectiveness needs to be had and this was a great first step.

Make sure to follow along on Twitter @Vendavo and @StephanLiozu and on LinkedIn here and here to get daily updates!

  • B2B Pricing , CFO , innovation , price , pricing power , Q&A , thought leadership , twitter

    Michael Huard

    Michael Huard is a Digital Marketing Manager with Vendavo. Before joining Vendavo, he worked as a Web Page Architect and Designer at Pepperdine University in the Integrated Marketing Communications department. He has a Master's degree in Specialized Journalism for the Arts from the University of Southern California and a Bachelor's degree in Linguistics from the University of California, Berkeley.