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Pricing – Parity or Parody

 

Keep your eye on the Ball. Margin Management. Progressive Pricing. Value Pricing. Performance/ Importance Gap Analysis. Heat Map. Key Attribute Performance. Competitive Landscape. Building Strategic Relationships. Isn’t price just cost + desired return???

 

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Increasing Share of Wallet is a Sales Catalyst

Increasing share of wallet is a sales catalyst, an agent that provokes and speeds significant change in customer revenue

Selling more products to more individuals in your existing accounts increases share of wallet.  Existing accounts are easy to target.  Selling to existing accounts is easier to execute and costs less that new customer acquisition.  Selling more products that you already have increases turn and improves your return on investments in products.  Increasing share of wallet improves customer loyalty.  

Sounds Interesting?  So, why is it so hard?


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Making Net Promoter Score More Actionable

I have been impressed with how actionable NPS has actually been in the industry since its birth in the 90’s.  By “Actionable” here, I mean getting businesses into gathering Voice of Customer beyond Satisfaction Surveys of the 70’s and 80’s.  What we discovered in the 90’s (with the Service Profit Chain research at Harvard) was that Customer Satisfaction pointed us effectively to “Pain Points” and was required for growth in Loyalty, but it did not effectively score our relationship with our customers or inform us of what drove loyalty.