Detailed Description
Reporting to the Chief Enterprise Business Unit Officer, Enterprise Pricing Lead will undertake the below.
Role purpose
The Enterprise Pricing Lead will play a critical role in defining and implementing pricing strategies and programs for enterprises from large enterprises, Medium to small and micro enterprises for both county and public sector to maximize revenue and profitability for our enterprise-level products and services across all customer segments.
He/she will collaborate with cross-functional teams, including Enterprise Channel Marketing, Brand Marketing, Finance, and Product Management, to develop and execute enterprise pricing initiatives that align with our business goals and objectives.
He/she will proactively analyze market conditions, competitor pricing actions, and customer feedback to identify opportunities to improve enterprise profitability and maintain competitiveness in the marketplace. This involves regularly reviewing pricing models, conducting pricing experiments, and implementing pricing tactics to maximize revenue while ensuring the company remains competitive in the industry.
RESPONSIBILITIES
Key accountabilities and decision ownership
Pricing Strategy Development – Develop and drive the strategic vision for Enterprise Pricing, including solutions, bundles, promotions, and marketing campaigns (in collaboration with Enterprise channel marketing), and oversee implementation in sales systems, considering market dynamics, competition, customer segmentation, and value proposition.
Pricing Analysis and Optimization – Conduct in-depth pricing analysis, including market research, competitive benchmarking, and customer behavior analysis, to identify pricing opportunities and optimize pricing models.
Pricing Model Development – Design and implement pricing models, frameworks, and tools to support effective pricing decision-making, including pricing tiers, discount structures, contract terms and automation to streamline pricing operations.
Pricing Governance – Establish and enforce pricing governance policies and procedures to ensure consistency, compliance, and alignment with company guidelines and regulatory requirements.
Pricing Execution and Monitoring – Collaborate with cross-functional teams to lead and implement pricing initiatives, monitor pricing performance, cross company pricing negotiations, enterprise analytics and track key metrics to assess the effectiveness of pricing strategies.
Timely and accurate management of pricing reports – Effectively managing monthly reporting on promotions, bundles, product pricing, and market campaigns for assigned products, bundles, and customer segments. The primary objective is to ensure the reports are delivered promptly and accurately.
Pricing Communication and Training – Develop pricing communication materials and provide training and coaching to pricing teams, internal stakeholders, including Sales and Customer Success teams, to ensure a clear understanding of pricing strategies, structures, and value propositions.
Pricing Insights and Recommendations – Provide actionable insights and recommendations to senior management based on pricing analysis, market trends, and customer feedback to drive pricing optimization and revenue growth.
Pricing Change Management – Lead change management initiatives related to pricing changes, ensuring effective communication, stakeholder engagement, and adoption of new pricing strategies.
Revenue Management – Work closely with finance and sales teams to track and analyze pricing performance, monitor revenue targets, and identify areas for improvement. This includes conducting pricing reviews, assessing pricing metrics, and providing recommendations for corrective actions if necessary.
Stakeholder management – Work closely with key stakeholders in Enterprise business leading the enterprise view of profitability, risks, and opportunities while ensuring cross company compliance.
Team management – Lead a team of Pricing Specialists in ensuring effective pricing strategies and maximizing revenue for the organization.
Core competencies, knowledge and experience
Pricing Strategy Development: Demonstrated ability to develop and implement effective pricing strategies aligned with business goals, considering market dynamics, competitive landscape, customer segmentation, and value proposition.
Data Analysis and Insights: Strong analytical skills with the ability to analyze complex pricing data, conduct market research, and derive actionable insights to drive pricing optimization and revenue growth.
Pricing Knowledge: In-depth understanding of pricing methodologies, frameworks, and best practices in the enterprise B2B environment, including pricing models, discount structures, contract terms, and pricing elasticity.
Financial Acumen: Solid understanding of financial metrics and the ability to assess the impact of pricing decisions on revenue, margin, and profitability.
Collaboration and Influence: Excellent interpersonal and communication skills, with the ability to collaborate effectively with cross-functional teams, influence stakeholders at various levels, and drive alignment and consensus around pricing strategies.
Project Management: Strong project management skills with the ability to prioritize and manage multiple pricing initiatives simultaneously, ensuring timely execution and achievement of objectives.
Business Acumen: A comprehensive understanding of the enterprise technology industry, market trends, and customer dynamics, enabling informed pricing decisions and strategies.
Problem-Solving: Proactive and innovative approach to problem-solving, with the ability to identify pricing challenges, propose solutions, and make data-driven recommendations.
Adaptability: Ability to thrive in a fast-paced and dynamic business environment, adapting to changing market conditions, customer needs, and internal priorities.
Communication and Presentation: Strong verbal and written communication skills, with the ability to effectively articulate pricing strategies, present findings, and influence decision-making at all levels of the organization.
Ethics and Compliance: Commitment to upholding ethical standards in pricing practices, ensuring compliance with pricing guidelines, regulatory requirements, and company policies.
Domain Expertise: A deep knowledge and understanding of the specific industry or domain in which the Enterprise business unit operates is crucial.
Solution Selling and Prospecting Capabilities: The Product Owner should have the ability to identify and articulate the value proposition of the product to potential customers. They should be skilled in solution selling, understanding customer needs, and positioning the product as the best solution to address those needs. Additionally, they should be able to identify and pursue new business opportunities and prospects.
Key performance indicators
Pricing Strategy Effectiveness: Measure the impact of pricing strategies on revenue and profitability, including metrics such as revenue growth, margin improvement, and price realization.
Pricing Analysis Accuracy: Evaluate the accuracy and reliability of pricing analysis conducted by the Pricing Manager, ensuring that insights and recommendations are based on sound data and methodology.
Pricing Optimization: Monitor and track pricing optimization initiatives, including the identification and implementation of pricing opportunities, to measure the effectiveness of pricing changes and their impact on key financial metrics.
Pricing Compliance: Assess the level of compliance with pricing governance policies and procedures, ensuring adherence to pricing guidelines, regulatory requirements, and internal controls.
Pricing Performance Monitoring: Regularly review and analyse pricing performance metrics, such as price variance, discount levels, and customer retention, to identify trends, anomalies, and opportunities for improvement.
Pricing Communication and Training Effectiveness: Evaluate the effectiveness of pricing communication materials and training programs provided to internal stakeholders, assessing their understanding of pricing strategies, structures, and value propositions.
Customer Satisfaction with Pricing: Measure customer satisfaction and feedback related to pricing, including customer perception of value, price fairness, and competitive positioning, to gauge the success of pricing strategies in meeting customer expectations.
Cross-functional Collaboration: Assess the level of collaboration and alignment with cross-functional teams, such as Sales, Marketing, Finance, and Product Management, to ensure effective execution of pricing initiatives and achievement of shared goals.
Market and Competitive Intelligence: Monitor market trends, competitive pricing strategies, and customer preferences to stay informed about industry dynamics and identify opportunities for pricing differentiation and competitive advantage.
Pricing Project Management: Evaluate the ability to successfully manage pricing projects, including the implementation of pricing changes, stakeholder engagement, and meeting project deadlines.
Psychological Safety e.g Team feedback, Open communication: Track the frequency and quality of open and honest communication within the team.
Qualifications
A Bachelor’s Degree in Business, Finance, Economics, Engineering, or related field. Advanced degree will be an added advantage.
8 -10 years’ experience in pricing strategy development and implementation in an enterprise B2B environment.
Solid understanding of pricing methodologies, frameworks, and best practices.
Experience with the use of price generation/optimization software and tools
Excellent communication and presentation skills, with the ability to effectively articulate pricing strategies and influence stakeholders at all levels of the Organization.
Strong understanding of Enterprise telecommunications products and services.
Strong ability to create, organize, analyze, and interpret complex data sets, draw conclusions, and communicate findings and recommendations to others in a simple and easy to understand manner.
Experience in product pricing architecture as well as bundle and promotion pricing development.
Experience with visualization tools (e.g., Tableau), pricing and/or business strategy.
Strong project management and organizational skills, with the ability to prioritize and manage multiple initiatives simultaneously.
Ability to work in a collaborative, cross-functional team environment.
Experience with Salesforce.
B2B commercial experience.
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