What Pricing Consultancy Does For You
Pearson Ham are pricing specialists. We help our clients be more successful through better pricing and have never failed to improve our clients’ margins, typically by 2 – 5% expressed as a percentage of top line sales.
Rapid process to assess existing pricing capabilities and identify areas for improvement. Detail is provided around each opportunity together with recommendations and priorities based on the associated financial returns, method and ease of capture.
COMMERCIAL MODEL DESIGN
Methodology to improve the current approach to capture value and improve revenue. We consider who the customers are and who pays, when they are charged, how they are charged, and what is charged for. Pearson Ham’s proprietary framework is leveraged to identify and short-list opportunities.
CAPABILITY & ORGANISATION
Comprehensive review of existing sales, pricing and discounting practices to benchmark current performance against the market context and best practices. Processes are established, skill gaps identified, and pricing materials and tools developed to improve the sophistication, accuracy and effectiveness of the pricing function within the organisation.
B2C PRICE OPTIMISATION
Robust analytical process to set price, monitor performance and enable iterative change. Price elasticities are derived using a range of methodologies including historic analysis, market research and price testing. Advanced statistical modelling techniques incorporate the insights to help define the appropriate new price levels.
Click here to read more about price optimisation.
Approach to assess existing promotions and design promotional campaigns that encourage desired customer behaviours and achieve commercial objectives. Promotions are optimally calibrated through observing their past effect on customer response and revenue cannibalisation. New, innovative campaigns are created through building an in-depth understanding of customer thinking and behaviours, with new processes put in place.
PRICE CHANGE IMPLEMENTATION
A collaborative process that delivers successful price changes to provide desired outcomes. Tapping into our great wealth and depth of experience in planning and executing price changes, risks are defined, issues assessed and robust plans developed to ensure the right activities are performed at the right time to deliver a successful implementation.
Methodology to determine how elements of an offer range should be best combined. Pearson Ham’s product assessment framework takes into account both internal and external factors to guide product structure, such as bundling and versioning, pricing and discounting decisions to improve revenue or margins or both.
B2B PRICE OPTIMISATION
Methodology to identify and capture margin improvement opportunities. Value is created from a more rigorous approach to pricing, governance, and commercial tactics. The process includes in-depth analysis of sales data, market research, price strategy workshops and direct observation of sales activities.
Click here to find out more about price optimisation.