Manage inflation and protect your margins with smart price increases

For years, overall inflation rates have been moderate or even negative in some periods or industries. Companies have been able to plan their costing and pricing on a rather stable basis.

However, there has been an extreme price development in many industries following the COVID-19 pandemic and several other factors, e.g. shortage of raw materials, malfunction of supply chains and drastic shifts in demand for specific goods, putting pressure on companies’ costs and, consequently, profitability.

Often, planned price increases are not achieved

Many companies are caught unprepared for the price development and have been in a rush to prepare price increases to pass on the effects and make sure margins are protected. However, many companies fall short in the enforcement of their planned increases, so for a planned increase of 5%, only an effective 1% is achieved.

In practice, we observe that the approaches taken are usually far off the targeted impact because of oversimplified und undifferentiated approaches, lack of project management, lack of data backing and underestimation of the “people factor”.

A morning of using smart price increases to realise the full impact of your planned increases

In this webinar, we will share our experiences from an impactful price increase campaign. Joining the webinar, you will get insights into the following questions:

• How is a price increase campaign optimally set up?
• Which preparation is required?
• How do you optimally differentiate the price increase?
• How do you prepare your sales force for negotiation?
• How do you incentivise your people and measure impact?

We will use a real-life case and a proven approach to guide you through these key questions to make sure that you realise the full impact of planned price increases and that you are effectively able to prevent erosion of margins.