April 17, 2014
My company recently held its annual Vendavo Profit Summit event in Miami. I get so energized by these events because once a year, we have our customers and potential customers all in one place, sharing experiences in B2B pricing.
Following are some key insights that I observed as I watched the magic of mingling of customers and prospects:
“Your customers face the same challenges that I do.”
This was from a prospect that is in their earlier stages of working with Vendavo, and the key challenge during this phase is building internal buy-in for a B2B pricing project. Every company thinks they are unique when it comes to solving the B2B pricing problem, and it turns out that many companies like Dell, Emerson, and Dow have paved the way, making it easy to share lessons learned and the best approaches to tackling a project. More so, they can share their returns gained from implementing Vendavo, showing how the power of price can change a business.
“I see now how you can start small and mature a B2B pricing vision.”
This comment was made during a meeting with a potential prospect, who had just met with one of our existing customers. This customer leveraged Vendavo Profit Finder into big gains to prove the value of a B2B pricing project. That customer then invested in more of the Vendavo solution and is presently implementing a bigger vision. Our prospect was blown away by our .5% ROS guarantee and signed up to deliver the same to their company. This is important today because more and more companies want to start small for many kinds of enterprise software projects.
“Your approach to pricing science with Power and Risk is truly unique.”
Vendavo released version 2 of Power and Risk, allowing our customers to simply start with this module and later couple it with their pricing analytics, deal negotiation, and/or their list or target price setting processes. When companies realize they can use the data locked in their closed transactions to determine where to push price without risking their business, they are blown away. And, all it takes is transaction data and a little bit of math in an open, easy to use solution.
“It is stunning to me how Vendavo so boldly invites their prospects to openly talk with their customers over the course of two full days.”
Yeah, this is awesome. We have incredible customers doing amazing things in B2B pricing, and we want to shout it out to the world. Every company should be enjoying such returns.
I was smiling during the whole event. At one meeting, a customer paraded in their whole team to talk in-depth with several of our prospects in a round-table event. This is what our customer had to say: “Implementing Vendavo is like printing money.”