Who's in Charge of Pricing? The Roles You Need to Make Pricing a Strategic Part of Your Business
People often ask me, “who should be in charge of pricing?”
It’s a good question, so I thought I’d share a few of the roles you need to make pricing a strategic part of your business.
A marketer: someone who can do some market research along with competitive analysis. This person should strongly understand your ICP and your go-to-market initiatives.
A financial analyst: someone from finance or rev-ops who has insight into the cost centres and financial projections of the company. They’ll need to crunch the numbers and make sure the pricing strategy will meet the revenue goals of the company.
A sales rep: Someone to ensure that the pricing strategy is easily communicated and sold to prospects. The Sales team has a unique perspective on the customer's pains which is a crucial part of your pricing strategy.
A product manager: someone that can ensure the pricing model aligns with how your customer gets to value using the product. And that the pricing strategy aligns with the product development roadmap.
A customer success rep: another unique perspective on customer pains, especially post-sale, which needs to feed into the discussion. And also to get customer feedback on pricing strategy and ensure they are satisfied with it.
That may seem like a lot of voices in the room, but I think that just shows how critical pricing is to your business.
Now in the early stages, many of these roles can be filled by just a couple of people. And if you are wondering where to start… here’s what I would do:
create a 3-person team made up of:
A product manager (product and customer success roles),
a marketer and
the CEO (overall strategy, finance and sales)
Meet quarterly and review the data (usage, deals, competition, roadmap, etc) and iterate on your pricing if needed. General rule of thumb is to change your pricing at a minimum every 2 years and at most 2 times per year.
Who is responsible for pricing in your company? Join the discussion on LinkedIn here.
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