Managing rising costs through strategic pricing
One of the most critical decisions CEOs need to consider is how to manage the rising cost of everything. At the heart of that: a solid pricing strategy. In the latest Vistage CEO Confidence Index survey, 74% of CEOs reported plans to raise prices in the next 12 months.
In the face of unprecedented supply chain disruptions, market fluctuations, and cost increases, Vistage Speaker and President of Boost Profits Casey Brown shares a unique perspective: creating an effective, segmented pricing strategy is only half the battle. The other, often-ignored half is equipping the salespeople in the organization to execute on price actions. Consider the following:
- Does your price increase strategy focus relentlessly on value, or do you exclusively scapegoat cost increases?
- Is the sales team equipped with effective price increase messaging to convey and defend higher pricing?
- Are you taking steps to calm sales team panic about price increases with current market chaos and upheaval, especially given the risks to sales talent retention?
About the presenter
Casey Brown is the President of Boost Profits, a firm that helps companies generate more sales at higher prices for improved profits. For over two decades, she has formulated and executed pricing strategies, pioneered innovative pricing content, and coached and trained teams to drive culture change and dramatic, sustainable results.