Pricing Table Topics: 2 of Diamonds – Involve Finance with Monitoring the Value-based KPIs.

This one is the 2 of Diamonds from the Selling Value card deck. 

I'm often asked who should own pricing, and one of the departments that often comes up is finance. And of course, I'm not a huge fan of finance owning pricing. And the biggest reason is finance doesn't truly understand the value of our products. Usually that's going to be someone in product management, product marketing, or even sales, which I'm not a fan of them owning pricing either.

However, finance so much wants to be involved with pricing. It's so crucial to their projections. It's so crucial to company growth, which they care a lot about. They really want to be involved with pricing, even though they don't understand value. So, how do we get them involved in pricing? 

That's pretty simple. Finance has a bunch of quant people. They have access to every piece of data inside the entire company, and they have the desire to make us or help us do better in our pricing. And so, let's figure out what are the KPIs, the key performance indicators, that we really want to track inside our company. And let's ask finance to help track those, keep us on track, make sure that we don't see any anomalies. We know what the trends are. 

Finance is a fantastic department to help us manage our KPIs.

We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our cards, pick a card, read the saying, and then talk for one to two minutes about what that card says. You'll become a better speaker and expert.

If you have any questions or feedback, please email me, mark@impactpricing.com. 

Now, go make an impact.

 

Connect with Mark Stiving: 

• Email: mark@impactpricing.com
• LinkedIn: https://www.linkedin.com/in/stiving/