Adele McLean, Vice PresidentSetting a price for a product can be notoriously tricky to get right. How much to charge? Am I overcharging or selling myself short? These questions often stump even the most competent of commercial teams. But in theory, pricing a product is much more than classical economics. In fact, as Adele McLean, vice president of Holden Advisors puts it, “It's an art and a science. We combine the two to give our clients profound insights both through data-driven analytics and value alignment with pricing to help them surpass their potential.”
As cutting-edge pricing, sales, and negotiation solution providers, Holden Advisors presents a simple value proposition—apply straightforward methods and frameworks to solve the most challenging profit problems. A team of steadfast industry thought leaders, they avoid cookie-cutter approaches and instead tailor each solution after gaining a thorough knowledge of a client's internal and external environment. "We have a broad understanding of what companies need to implement without overcomplicating it. We utilize practical application of advanced theories while engaging heavily in research and publications to help clients take charge of their differential value," states Reed Holden, Founder and author. "Furthermore, we are a group of proactive problem solvers who can pivot quickly based on the insights we have developed, because every so often the problem isn't what the client initially thought it might be.”
Here the leaders break into an example: the commercial head of an organization believed that their core problem lay in price discounting and an ultimate lack of pricing strategy. When Holden Advisors analyzed the situation, they realized that the real problem was a lack of visibility into standard pricing as well as broader revenue reporting issues across the IT and business teams. In addition, the client wanted more insights into customer segmentation. While most firms would pick a top-down approach, the industry veterans at Holden Advisors, realized that would not best serve the client nor their customers. "On the contrary, we went in and followed a bottoms-up approach to understand the needs of each customer, instead of bracketing them into pre-defined market segments," says Adele.
Reed Holden, FounderClearly, what most organizations miss today is the ability to combine all the different signals they receive from their data and get past the organizational silos to enhance the commercial performance of their business. “Long story short, it's all about connecting the organization’s functions efficiently and effectively to identify value, connect that value to price, and ultimately drive customer conversions,” states Holden.
The case study of a large company with over five million customers better explains his statement. The client attained insights through manual processes and subscribed to traditional database management. They generated millions of rows of data each month and were unable to produce actionable business insights from such large volumes of information. With Holden Advisors, the client implemented a data collection engine and, for the first time ever, had a comprehensive view of their entire customer base in a revenue dashboard. Holden worked with a big data partner to gather, amend, and clean all the data, apply logic and identify outliers by customer groups, and ultimately enable cross functional teams to take action and deliver measurable results.
To help companies better capture their value, Holden Advisors has a proven sales performance improvement program called 'Negotiating with Backbone,' which allows teams to quantify value, tie it to pricing, and execute it through the commercial teams. This framework, alongside the company's digital e-learning modules and proprietary IP, creates a winning solution for clients across industries.
When asked about their future plans, Adele humorously mentions, "We want to help our clients dominate their industries." With a global client base and strong partnerships, the company is looking at delivering Negotiating with Backbone and their pricing competency across the globe. But largely for Holden Advisors, it's all about taking their client’s value proposition and resulting profits to the next level!