Our Services
RM Strategy
At Linked Turn Ventures, we take a very structured approach to developing the Revenue Management Strategy. A lot of people think that if they define a price, they have set their pricing strategy. The procedure must go far beyond determining the price point, or whether to “penetrate” or “skim” a market. We believe that there are 4 fundamental categories of questions that must be answered to determine an appropriate pricing strategy. The answers to these questions will define a strategy that will be effective in the market over the long term and will keep it well integrated with the business strategy.
Value Proposition
Channel Value
Price Architecture
Pricing Drivers
RM Infrastructure
Our strong belief is that Pricing and Revenue Management are processes. As such, they require an owner, tools, metrics, a vision, and continuous improvement.
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Many of our projects have focused on establishing an effective Revenue Management Infrastructure in the organization. It often is a good starting point to align executives and develop a program plan that can be followed over several years.
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At lot of consulting firms look at People, Systems and Process but for pricing and RM management, we added two components: Structure and Objectives. However, people work within a structure; it defines their roles, and accountabilities. If you change the structure, the accountability, or authority, it’s going to have an impact on the people. Similarly, if you change the process, introduce a new system, or restructure objectives there will be interactions with the other elements of the infrastructure.
​These five elements are all interconnected and as a pricing manager, you need to think holistically about the business.
RM Analytics
Effective Pricing and Revenue Management require experience and a broad knowledge of how commercial and operational factors impact the business, in order to employ the correct tool in the appropriate way to generate accurate and useful resorts. We’ve seen organizations waste a lot of resources (time and financial) analyzing the wrong variables with appealing, but inappropriate methods. As senior management pushes the imperative to make the organization more data driven, pricing seems like a logical place to point the focus. There is a lot of data, and it has high leverage on profitability. The increased demand has led to a lot of new consulting service offers in the market. However, At Linked Turn Ventures, we can help you with:
Market Research – How to get on the agenda of your Market Research organization to implement a study that will generate the results you need to change your pricing strategy. Pricing research is nuanced, and demands the experience to know the right methodology and how to implement it correctly to obtain insightful and impactful results.
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Transaction Analytics – Utilize the data your organization is gathering (or could be gathering) in a productive way – not numbers in a vacuum. Develop a roadmap for improvements that your IT department can implement and information that can be used by your entire organization.
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Market Analytics and Data Services – Transform your business by using customer information in new ways to influence and predict customer behaviour. Integrate market data with your existing data sources. Transform your team from a pure pricing focus to a more holistic Revenue Management focus that includes real-time information about cost trends, product availability, contract optimization, etc.
Price Optimization
Market Share Modeling
Price Elasticity Analysis
Training
Training is a critical piece of the World Class Pricing Journey. The Pricing team requires core functional skills and the ability to execute new processes and analytics. Marketing team members benefit from learning practical ways to bring Value Based Pricing to the launch activities for new products, repositioning of existing products, and everyday marketing block and tackling. Sales and Field Marketing benefit from learning to sell based on value. These steps sound simple, but it’s important for these organizations to have a common language, common tools and the trust that develops when each group follows a data-driven, metric measured process. The LTV training modules are experiential-based learning designs that introduce ideas and have participants put them to use in practical ways
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Over the years, Jim has trained several thousand professionals on his practical approach to Pricing and Revenue Management. Participants leave the classes with clear action plans and the confidence that they can apply the skills they’ve learned.
Our tailored courses bring logic and structure to the Pricing Process in a way that is fun and practical. Find more on How to Achieve Pricing Excellence
