26 min listen
Why Pricing Should Touch Every Part of Your Organization with Jason Covitz
FromImpact Pricing
ratings:
Length:
35 minutes
Released:
Dec 7, 2020
Format:
Podcast episode
Description
Jason Covitz is a VP of Pricing, Analytics, and Strategy at Safelite AutoGlass. His specialties include: P&L Management - CFO/CIO, Business & Risk Analysis, Value-Based Pricing, Sales Effectiveness, Product Management & Marketing, Business Strategy, and Data Analysis. And he has experience in a wide range of industries that includes Retail, Healthcare, Financial Services, Manufacturing, Online Services, Outsourcing, Telecommunications, Defense, and Strategic Consulting. In this episode, Jason talks about how to measure value and how to get paid for value you give. As a business for profit your goal is not so much about increasing your market share as it is about growing your revenue. [powerpress] Why you have to check out today’s podcast: Learn how to make CFOs favor Value-Based Pricing more than Cost-Plus Pricing Find out one strategic action to encourage sales teams to communicate better a products’ value Learn how to turn sales conversations with sales teams to value conversations “Number one is listen. Go around as you're joining an organization, go talk to everybody and listen to what their problems are. And then the second part is, go add value there. They're going to tell you where the problems are, and where the problems are it's usually where the money is. Go solve that problem, that's worth money to you and the organization.” - Jason Covitz Increase Your Pricing Knowledge: Become a Champions of Value INSIDER! To sign up go to insider.championsofvalue.com Topics Covered: 01:32 - What brought Jason to Pricing 01:58 - What is his analytics work all about 02:57 - How his work in the competitive intelligence area relate to his being VP of Pricing 04:02 - How Pricing touch every part of the company 05:25 - How do CFOs look at Pricing 06:46 - How scared or excited are CFOs to get involve in Pricing 08:03 - How to get CFOs to think more about the Value Pricing and less of Cost-Plus Pricing 09:48 - Taking a look at the dispersion chart 13:18 - How to get around to stop the notion of Pricing people as ‘sales prevention’ 15:39 - How to help the sales team sell value better 18:41 - Understanding the win rate and communicating it to sales teams 20:06 - Looking at win rate as true measure of whether pricing is doing well or not 21:35 - How win rates are often calculated 22:48 - What’s the right win rate 23:50 - How to tell when you’ve reached the right win rate 25:56 - What is a ‘Deal Desk’ 27:47 - Why are ‘Deal Desk’ can be very transactional 30:16 - What percentage of deals should you be approving 31:34 - Seeing different approval rates by different people 32:29 - Pricing advice that helps impact your business Key Takeaways: “Once you understand what's going on in the market, what drives value, it's very easy to say, hey, I want to price it this way to win. And I want to win it, price it this way to maximize profit.” - Jason Covitz “My experience with sales teams are 5, 10 percent of sales teams get the value story. My experience is usually, find a champion, find the sales guy who is the value seller and find out a way to call out his achievements. And I call positive peer pressure, 'Hey, look what Bob's doing. Bob just did this. And as a result, he made all this extra money.'” - Jason Covitz “I think about pricing with a capital P, which means it should be doing price setting, it should be deal management, it should be doing the analytics, you know, if you're not doing all those pieces, as a price organization, you're missing your calling at every opportunity to drive impact.” - Jason Covitz “You want to understand win rate and you want to communicate that to sales teams. And you can cut that in multiple different ways. It doesn't have to be an overall win rate. It can be by size segment, geo, salesperson, just to kind of you know, push it a little further.” - Jason Covitz “Where you do interviews and go through the whole nine yards, people make decisions on four things, they mak
Released:
Dec 7, 2020
Format:
Podcast episode
Titles in the series (100)
Insights From the History of Pricing and Mindfulness with Paul Hunt: Paul Hunt is chairman at Pricing Solutions. He is considered as one of the luminaries in Pricing. In 2013 he wrote a book entitled: World Class Pricing: The Journey. Of late, he is now teaching mindfulness. In this episode, Paul talks... by Impact Pricing