Pricing Execution: How to Enable Your Company To Implement Pricing At Scale

Part 3 of 3 of My Deep Dive on Pricing Strategy, Setting and Execution

Our 🔒Strategic Product Execution series helps product leaders efficiently create and convert strategy into action and outcomes, one post at a time.

If you haven’t subscribed yet, here’s what you missed:

• The Key Elements of Product Strategy

• How to Conduct Product Portfolio Profitability Analysis

• Linking Product Strategy to Roadmap through Themes & Initiatives

If you want to receive these deep dives, consider pledging your support as a paid user by clicking the link below, or find out more about paid access here!

---

Welcome to our Deep Dive on Price Strategy, Setting and Execution!

In our 3 part Deep Dive, we cover:

• The Key Elements of Pricing: Strategy, Setting, Execution → link

• How to Set The Optimal Pricing For Your Product → link

• How to Implement and Execute Product Pricing → this post!

I today’s post, we look at the final step: how to execute pricing decisions and setting across your organisation at scale. While previous posts answered “Why”, “What”, “When”, we now discuss the detail of “How”.

If you haven’t already read Part 1 of this series, please read my previous post before continuing on.

Let’s dig in!

---

What is Pricing Execution?

Pricing execution is the implementation of the pricing strategy and setting decisions. It involves putting the pricing plans into action, monitoring and adjusting prices as needed, and ensuring consistency in pricing across different channels and markets.

While strategy and setting focus on planning and decision-making, execution is about implementing and managing those decisions in the real market environment.

For me, I see Pricing Execution as three components:

• Enablers: the support structures needed to sustain pricing decisions across your company, such as data orchestration and analytics, skills & competencies, and clear collaborative ways of working

• Governance: the guardrails and rules for what acceptable pricing ranges are, depending on certain parameters agreed in the ‘Setting’ phase of your strategy

• Rollout Plan: a delivery plan outlining your deliverables and work packages to improve your executional capabilities defined above. Recall that we want pricing decisions to be consistent and applied company wide at-scale.

Pricing Execution: The key questions of executing pricing decisions and actions at-scale

---

The Difficulties of Executing Pricing

Over the past few years, I’ve witnessed all kinds of revenue models, each with different cost and value components. No business was the same, yet they all suffered from the same problem:

How to ensure consistent decisions being made on product pricing, without requiring manual analysis each and every time?

If you have a handful of people within your company, then it may be simple as meeting with your colleague or referring to a pricing sheet that was once created in Excel. However, As your company grows, and as your product portfolio and feature set as well, you can’t simply rely on going back to the ‘finance person’ or the ‘pricing guru’ for every pricing approval and decision.

This is where you need to invest into Pricing Execution ‘Enablers’, where you implement a set of processes, capabilities and tools, that are available to the company in a transparent simple to use manner.

---

Pricing Enablers

I see at least 6 distinct enablers that can help your organization embed a culture for mature pricing strategy and setting decisions.