I was excited to lead a dynamic conversation with fellow B2B pricing experts Alex David, Rob Litterst, Karan Sood, and Steven Forth. We dove into the dynamic and evolving world of B2B pricing. Our discussion spanned various crucial topics, from the complexities of implementing price increases to the importance of monitoring net dollar retention for detecting pricing problems. This webinar is packed with valuable insights and actionable tips for businesses aiming to refine their pricing strategies in 2024 and beyond.
Key topics we covered in this episode:
- Impact of AI on B2B Pricing
- A/B Testing and Price Increases
- Pricing Research in B2B Companies
- Pricing Processes and Governance
Timestamped Outline
13:06 The dangers of A/B testing prices
22:09 Crucial success factors for successfully increasing prices.
31:26 AIs impact on pricing
44:36 Communication, complexity, and human input in the pricing process
48:02 Identifying pricing issues in your business
55:10 Establishing a pricing committee.
Potent Quotables
AB Testing Pricing Strategies:
We’re not going to A/B test price directly, but we are going to A/B test on value, and we are going to A/B test on fences.
— Steven Forth
The importance of pricing focus in businesses:
“Pricing suffers when it’s someone’s 20% of their job instead of 80% of someone’s job.”
— Karan Sood
AI in Pricing Solutions:
“The thing with segmentation is that you need a lot of data to do that type of segmentation and align prices to those customer bases. That gets harder and harder and harder the more narrow you want to go because it just gets tough to get that level of insight and data. AI makes that much more palatable, and you get into this world of being able to do microscopic segmentation or personalized pricing.”
— Alex David
Extracting Insights from Sales Conversations:
“I think the first place I would go is talking to sales. I would talk to the sales team and see what their conversations are like and what customers and prospects are saying in their sales conversations. I think all the sharp Pricing people I talk to working at established SaaS companies have a direct line to sales and are talking to them all the time.”
— Rob Litterst