Cost-Effective Intervention Copy

A Case Study

Positive Pricing was given a tight budget to help this firm improve their pricing performance. Positive Pricing worked with the firm’s executive to prepare an intensive pricing training program for all partners and senior support staff. As a result, realized rates increased by 18% within 8 months.

Background

Our client is a mid-tier professional services firm in a highly competitive market. They found it difficult to compete against premium firms because they lacked scale and brand to be awarded major projects.

The common view within the firm was they needed to compete on price because they were weaker in other areas. Client research told them they were regarded as highly cost competitive, for which their management suspected ‘cheap’.

The firm was looking for a way to kick-start a greater focus on pricing, while simultaneously build partners’ competence and confidence in pricing.

Positive Pricing was given a tight brief to help this firm improve their pricing performance.

Positive Pricing Approach

Positive Pricing worked with the firm’s executive to prepare an intensive pricing training program for all partners and senior support staff.

The morning focused on:

Contemporary pricing practices
Competing on value
Improving the creation and management of estimates

In the afternoon, we worked with each practice group to separately explore their key pricing challenges and opportunities.

Key Actions

The Managing Partner constantly reinforced the importance of good pricing practices
Practice Group Leaders discussed success stories at practice group meetings
Business Development ensured pricing best practices were implemented on all key proposals, and
Finance modified reporting to increase the focus on pricing outcomes

Following the one-day session, there was a significant cultural shift at the firm in terms of their mindset towards pricing. Realized rates increased by 18 percent within 8 months.

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Pricing Review Results

Double digit gains

Realized rates improved by 18 percent within 8 months

Positive Pricing Mindset

Significant cultural shift toward a positive pricing mindset

The Pricing Masterclass provided practical strategies to help us win work, analyse pricing risks, and promote value internally and externally. It presents all sides of the equation: clients, partners, back office, and more. We immediately capitalised on what we learned. Thanks for a fantastic and interactive workshop.

Peter Lane Secor

Director of Strategic Pricing and Project Management

Pepper Hamilton, Boston