Pricing Jobs: The Secret To Winning Better Pricing Jobs – Uncovered
Pricing Jobs: Do you feel like you are wasting your time dabbling in pricing and not learning much at all? Have you been moved into pricing jobs from another department and wondering what it’s all about? If you have moved into a pricing leadership team, and want to make a meaningful and lucrative career in pricing, then it’s not just a great CV you’ll need. To make it to a director of pricing or VP of Pricing, you’ll need to build your pricing knowledge and then leverage what you know to drive profitability. Are you ready for the challenge?
When people explain to me how difficult it is to find a better pricing job, they tend to get quite operationally focused in terms of their personal drama during the job search process. Things like: what they had to do make hiring managers interested in their LinkedIn profiles; how many times they had to re-write their CVs to get a call; how recruiters don’t care; how HR just doesn’t understand the discipline; or how many online applications or assessment they have completed.
We have been trained as a society to view a bad CV and poor interview as clear indicators of under-performance in some shape or form (a debate on whether CVs and interviews are deeply flawed business assumptions is discussed in more detail in article: ‘CVs or Interviews are poor predictors of success‘) – see talent management Sydney. What if it’s a flawed hiring process and we were okay all along?
What are the best indicators of success in Pricing Jobs?
Our research shows that one of the best indicators of success in pricing is mastery of the domain (which in this instance is indicated by your pricing knowledge). However, the real x factor in building a successful career is knowing when and how to apply your knowledge to solve problems and achieve collective business outcomes.
Right now, business knowledge in specialist areas like pricing, revenue and commercial management is scare and in need of urgent attention. Business model disruption and advancements in technology have smashed conventional thinking about how we do business and price.
Some people view price as a summation of the total economic value the business can offer to its customers. While others see it as a % mark up on approximate cost calculations. The former is heavily focused on customer value the latter is heavily focused on costs and operations.
People who relate pricing in terms of cost put a ceiling on pricing and therefore profitability. People who relate pricing to value seek to unlock a business’s pricing power by discovering new ways to translate value into additional revenue and margin.
There are always going to be differences in how we perceive the world. This is no different for pricing or finding really good pricing roles and revenue management jobs. However, there are fundamental pricing and scientific principles that are the basis of modern revenue and pricing management; and key to solving and thinking of complex commercial challenges in an entirely different way. People that think of pricing a little bit differently, may not always be right, but will eventually unlock the team’s potential to achieve complex outcomes.
For people who want better pricing jobs, the key point in all of this is to re-visit fundamental pricing principles and basic research in: pricing, science and technology. All these disciplines are technical in nature, yes, but all are driven by human behaviour, a discovery of value, curiosity and imagination.
Not everyone is ready to see pricing differently. Whatever your perspective, you will inevitability get the opportunities you are subconsciously driving towards. Learning to break the endless cycle of negative scripts in your mind of why you can’t do something is the first step to better jobs. Then, moving away from Band-Aid fixes to suboptimal pricing thinking and operations (by this I mean antiquated strategy, basic price rise logic, data and systems issues, and de-centralised price admin) will be one of the biggest long term investments an individual and business can ever make.
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