Buying Dynamic Pricing software, or software that takes enterprise data and turns it directly into real-time pricing
What is a Value Exploration Workshop?
A typical agenda looks as follows:
Stakeholders include business owners, for example, CFO, COO or CEO, pricing management (VP Pricing, etc.), technical people (CIO/CTO, Director of IT), CMO, sales (if applicable), and in-house data science or analyst leadership if such a function exists.
Why is a Value Exploration Workshop necessary?
The purpose of the VEW is to dig deeply into the problem the organization is looking to solve with Dynamic Pricing software–and understand if it is a mutual fit. Even if it is technically feasible, if sales, marketing, or operations, reject the new pricing scheme the project will turn into a waste of resources.
Here is a list of things we are looking for to ensure fit:
- Alignment and buy-in from leadership
- Access to the necessary types of data, usually from a data warehouse
- Ability to implement changes (actions) based on the software's outputs
- Openness and willingness to change
- The indication that your end-customers will accept changes
- Realistic timelines and expectations
- An obviously strong business case, which can be refined further (but doesn't require squinting to see it)
By far the most important component is buy-in.
Where does a VEW fit in the process?
You are just as likely to dedicate half a day of your executives' time without doing the right homework first, as we are to fly people around the world to meet with you without understanding your needs.
For that reason, you can expect to have a Discovery Call prior to scheduling a
In preparation for a VEW, we need to understand the business so that our solutions consultants can prepare an effective, customized demonstration of the software and guide the discussion in a way that maximizes the use of time.
Wouldn't it be cheaper to do a bunch of remote conference calls?
Many prospects ask if we can have a few calls with different experts on issues that come up as they think through their needs. We almost always decline–because this is actually far more expensive for everyone than simply organizing a
Without everyone having all of the information, bad decisions become highly likely. For example, the IT department wonders how prices get integrated with the CRM system, oblivious to the fact that the COO has decided as part of the transformation to move to a new CRM.
Or, as is the case for a prospective customer, our software proves to make $215 million per year in
We're willing to invest in the airfare if you're willing to invest the time. We find that for executives championing transformation, having a face to face meeting reinforces the importance to their organization–and gets everyone's concerns on the table so that they can be addressed. With all the information, everyone usually reaches the right conclusion–which may be "it's not a fit," and that's fine!
If this process seems like a fit for your enterprise, I invite you to get in touch to set up a Discovery Call.