Pricing complexity has skyrocketed over the past few years, and it’s not always clear where you should turn for help. Should you use AI or BI? Pricing software or pricing consultants?
To discover what’s best for your business, it’s important to clear up a few misconceptions to get to the truth. This tip sheet delves into common pricing myths and outlines what you need to know to drive sales and revenues and maintain profitability:
- Myth #1: “We use a consulting firm to help us manage pricing, so we don’t need pricing software."
- Myth #2: “Our consultants built awesome spreadsheets for us, so we have our pricing under control.”
- Myth #3: “We use consultants to help us provide the right price recommendation for our products, so we don’t need pricing software.”
- Myth #4: “Pricing software is for large enterprises, but that’s not something we need since we’re a small business.”
- Myth #5: “Our consultants are helping us manage pricing much better than we were.”
- Myth #6: “We use BI tools to help us manage pricing, so we have the pricing capabilities we need.”
- Myth #7: “AI is going to replace me and take over my job.”
- Myth #8: “Pricing software is too expensive.”
