Pricing as a Key Lever to Help Companies Drive More Value with Chanan Greenberg

Why you have to check out today’s podcast:   Find out about Model N’s pricing software, how it works and how it differs from other pricing vendors  Understanding the different channels High Tech industries go through and how this affects pricing and value setting  How does price execution play a big part in the price optimization    Chanan Greenberg is a seasoned executive with 25 years of experience in front line leadership roles. He helped build companies from pre-revenue to successful IPO, lead acquisitions, held 2 CEO entrepreneur positions in companies selling to Government IT-Outsourcing Contractors, Service Providers, Aerospace & Defense, Telecommunication, High-Tech, and Multimedia Distributors. He led the first evangelical sales into Fortune 500 companies overcoming resistance to change and fear of working with early-stage companies. Nurtured C-level personal relationships with customers, partners, and investors.   In this episode, Chanan discusses revenue management and what Model N does that differentiates it from other pricing companies.    “If you believe in the value of your product and your differentiation and the reason that you exist, don’t be subservient to the rest of the value chain.”   – Chanan Greenberg     Get Accelerate Your Subscription Business: Your Blueprint to Packaging & Pricing for Growth Course at https://www.championsofvalue.com       Topics Covered:    03:07 – How did he end up in Pricing  04:27 – What industries does High Tech cover  05:37 – The many problem scenarios High Tech help solve  11:49 – How big are the companies that Model N serves  14:51 – Understanding your end customer and why you need to legitimately ask to determine your pricing  17:34 – Difference between Model N’s pricing software and other Pricing companies  23:18 – The importance of having clean data  24:38 – One important pricing advice he has    Key Takeaways:  “Stop thinking about pricing in silos. Pricing has a waterfall that continues well beyond that. It continues into how are you going to do discounting into the channel, whether it’s the ship and debit process or whether you’re paying out a rebate, whether you’re paying out price protection on the inventory that is out there. All these things at the end of the day, bring down that waterfall to its final net results and pricing doesn’t end with optimization. It doesn’t end with analytics and it doesn’t end with the based on the execution of a price and the close of a contract. It continues operating, and unless you can really bring these things into a single continuum, you are invariably going to leave money on the table without any doubt.” – Chanan Greenberg  “If you’re working through channels and you want to understand who is the end customer, what are they willing to pay to determine how much you’re willing to discount, that’s a legitimate ask.” – Chanan Greenberg  “Never assume that you can make up on bad business by scaling the volume. Because bad business is bad business, whether it’s big work or small.” – Chanan Greenberg    “If you have good price execution in place, whether it’s a Model N or a different solution, then bringing in a solution that can help you do the micro-segmentation, try and change the curves of your product lines to adapt to specific market dynamics that you may have in different end markets or different territories, I think definitely has a creative value.” – Chanan Greenberg    “You really need to stick to good price execution because what I’ve found in many companies is they think it’s like a magic formula. You implement it, you did it, and now it just supposed to continue spewing out great pricing for you when in fact you have to keep on feeding that beast every quarter.” – Chanan Greenberg     Connect with Chanan Greenberg:  https://www.modeln.com/  LinkedIn   Twitter    Connect with Mark Stiving:     Email: [email protected] LinkedIn Twitter https://www.championsofvalue.com