So, you want to be a pricing manager or build a long-term pricing manager career? That ambition — to move into a meaningful, profit-driving pricing role — is powerful.
>Download Now: Free PDF Future Proof Your Pricing Strategy
I’m going to give you some bad news, you probably won’t make it.
When a new pricing manager takes on a team or function in a larger organisation, many fail to transition effectively.
In a study by John Gabarro (1985), he examined why some managers fail while others succeed.
Capability Building Programmes For Pricing & Sales Teams!
The big findings revealed the following:
General managers took much longer than expected to get up to speed;
Industry insiders took charge much faster than outsiders;
Good relations with the boss dramatically increased the likelihood of success.
You need the Right Numbers for Pricing! 👍 Podcast Ep. 66!
Reflecting on this study in the context of pricing, I noticed the same breakdown in the taking-charge process affects so many new pricing managers.
The term taking charge in this context refers to the process of learning and taking action. This process happens when a new pricing manager starts a new role, navigates its opportunities and pitfalls (including some degree of personal reflection on individual strengths and vulnerabilities), until s/he has a practical path forward or action plan.
The taking-charge process is a series of alternating phases of intense learning and intense action – and it changes over time. As a coaching client of mine recently explained her experiences starting as a pricing manager career:
“It’s like you’re on high alert all the time – you get really aware of your surroundings. It feels like you have lots of knowledge gaps to fill. You have to learn new systems, products, people, and problems and work out how things really get done. You’ve got to hit the ground running. You’ve got a long list of people to influence and a limited time. Getting them to buy into a new way of pricing is the trickiest thing – most people don’t even know what a pricing team does! At first, you’re afraid to do anything for fear of upsetting the apple cart. The problem is you have to keep the business running while you’re learning about it. You feel like you are merely tinkering around the edge and never really solving the bigger issue. Time is ticking, everyone expects results – you are running flat out and cannot give any more.”
Pricing Manager Career Transition Risks
Failure is never just about the flaws of the new pricing manager or leader. All the pricing managers and leaders I have coached and studied have achieved significant results and successes in the past.
New pricing managers and leaders fail in new roles because they either misunderstand the essential demands of the situation. Lack of the skill and flexibility to adapt them, or more to the point, take charge of them. Or are set up to fail in the first place – either strategy, organisational structure, people, or processes are out of whack – or all three at the same time.
Pricing Recruitment For Pricing Managers!
Relying on traditional management practices doesn’t work – you need to adapt and change. Don’t rely on the feedback from performance reviews to gauge your worth. They are largely ineffective and lack personalisation.
A new pricing manager career (maybe promoted from a strategic pricing analyst) is fraught with new challenges, like my client described above. New pricing managers and leaders need to understand the tasks and problems, and assess the organisation and its requirements. There are a number of factors that influence how effective pricing managers and executives progress through these stages and how successfully they take charge. Important determinants include a new manager’s experience, whether the business needs turning around, the person’s managerial style and personal needs, his relationships with key people by the end of the first year, and whether the manager’s management style conflicts with that of his boss.
〉〉〉 Get Your FREE Pricing Audit 〉〉〉
Conclusion
Starting a pricing manager career is a disassociative process — it can feel overwhelming. But the taking-charge process will help you realign, focus, and establish your path.
Your title doesn’t make you a successful pricing manager; your ability to take action, influence others, and deliver results does.
If you’re serious about building a strong pricing manager career, a skilled pricing recruiter or talent advisor can guide you, helping you adapt to new challenges and methods.
Research shows that organisations generally expect meaningful results within the first three months. Failing to deliver at this stage makes your transition significantly more challenging — but with focus and guidance, your pricing manager career can accelerate successfully.
Click To Download Your Free Executive Guide To Best-In-Class Pricing Strategy Now.
>>> Read about: Commercial Manager:10 most sought-after skills in ASX businesses
For a comprehensive view and marketing research on integrating a high-performing capability team in your company,
Download a complimentary whitepaper on How To Maximise Margins.
Are you a business in need of help to align your pricing strategy, people and operations to deliver an immediate impact on profit?
If so, please call (+61) 2 9000 1115.
You can also email us at team@taylorwells.com.au if you have any further questions.
Make your pricing world-class!
