Cost of validating a marketing lead
In businesses that suffer from a lack of momentum, all of the pricing data in the world wouldn’t matter, as indecisiveness leads to leaving a pricing strategy to atrophy under the weight of being overwhelmed by such an important decision within a business.At the speed at which business moves in the 21st century, you cannot afford to let your pricing strategy atrophy or become a debilitating battle. The amount of cash you’re leaving on the table is too much.
As Marketo relates, customer lists undergo substantial “information rot” that typically will cause email and phone numbers to degrade between 1% and 10% per month.
It’s time the most important number in your business has a process too, because nothing, absolutely nothing, has a greater impact on the only cell in the spreadsheet that matters every month.
For years, pricing has been this ominous beast that businesses wait to tame until they can afford a “pricing team” or “pricing consultants.” We think that’s poppycock.
We’ll go through cost-plus pricing more extensively in another post, but utilizing your cost data, you at least know what region of the dartboard you need to be on to sustain your business.
Of course, you’re still guessing on the margin you’re putting on top of the costs, but more data is better than less in the pricing process.