Project at a Glance
- Market leader with £300m turnover
- Family-owned with strong national retail presence
- Urgent need for niche pricing specialist
- Alignment on customer-centric pricing
- Sustainable revenue and margin growth
Problem
The client is the UK’s leading supplier of PPE, safety equipment, and workwear.
Like many businesses in its industry, the client was facing challenges pertaining to its supply chain and profitability. The volatile market situation after the pandemic put a strain on its sales operations and profit margins.
Challenges identified: existing pricing practices were barely data-driven, an unacceptable proportion of their transactions were loss making. The business needed to raise prises in a sustainable way as to not alienate customers.
Williams Bain supplied an interim manager, who specialises in data driven B2B pricing and revenue growth – helping the client improve its profitability and future-proof its pricing practices.
Approach
- “Pricing the Customer”, a transformative approach with emphasis on understanding customer value.
- Align pricing approach with broader business operations to maximise impact and success.
- Risk mitigation, ensuring that the price increase rollout did not alienate valued customers.
- Dynamic project management with commitment to achieve the client’s growth objectives.
Results
Implementing a Dynamic Pricing System: Safeguarding profitability and future-proofing pricing practices
- Delivered a surgical pricing system that increased profitability
- 11% uplift in profit margins
- Customer-centric and supports the client’s objective of growing revenue
- Improved pricing governance and an empowered commercial team
- Better price approval rates among key customer accounts
- 65% of unprofitable transactions are profitable after the first pricing cycle
Skills and Experience
The Interim Manager – 99919101
- Subject matter expertise — the interim manager specialises in designing complex, pricing models for B2B companies that are tailored to meeting their objectives
- Pricing Strategy — works with commercial and C-level stakeholders to design, test, re-design and launch customer-focussed pricing strategies
- Hands on — takes a hands-on approach to delivery ensuring that deadlines are met. Leads from the front and works at pace
- Pricing Analytics — a trained statistician with almost two-decades of experience in serving advanced analytics and pricing insights, this interim manager is obsessed with the art and science of pricing
