Using Pricing Analytics to Drive Profitability
The Northridge Group’s pricing analytics model helps clients achieve in-year revenue gains of 3-5%.
How We Can Help
Working side-by-side with your team, our experts will analyze your existing processes and tools to ensure alignment between pricing strategy, price setting and price execution. We’ll help you develop a pricing infrastructure that captures real-time marketplace intelligence to enable quicker decision-making, faster time to market and improved communication across the organization. We’ll also help you implement our pricing system to better maximize your revenue and margin opportunities.
These adjustments to your overall pricing methodology generate realized value and profitability, as price improvements flow directly to the bottom line. The Northridge Group’s commitment to helping implement enhancements to and providing end-to-end support for your pricing system enables your organization to fully leverage optimal pricing.
Effectively implementing the right pricing strategy can help define your firm’s future profitability.
in price improvement results in
of increased operating profit
4 Components of Pricing Excellence
The Northridge Group uses pricing analytics to leverage four interdependent components that, when optimized together, enable an organization to drive revenue to the bottom line.
We start with a strategy that creates alignment across the corporate objectives and builds communication channels to facilitate the dissemination of pricing goals down the stack.
We focus on ensuring your decisions for price are proactive and based on strong market-based intelligence.
We ensure you’re maximizing daily sales transactions and increasing value by homing in on the sales behaviors and understanding the issues and trends that are occurring real-time.
Finally, infrastructure wraps around all three components to certify the systems, processes, and organizational structure is in place to support your optimized pricing system.
A Pricing Strategy That Yields Tangible Outcomes
The Northridge Group leverages the four components of pricing excellence—Pricing Strategy, Price Setting, Pricing Execution, and Pricing Infrastructure—to optimize pricing capabilities that will drive revenue/margin to your bottom line. We’ll ensure you have a pricing strategy that aligns with the goals of the business, price points, and promotions that are market-based; in addition to having a process that minimizes price variability among daily transactions. This is achieved by creating a pricing infrastructure that captures real-time marketing intelligence and disseminates that information to all levels within the organization.
The end results are improved sales velocity, faster speed to market and increased win rates.
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