PROS Pricing: Summer's Hottest
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Amazon Skill – PROS Glossary

What is PROS Personalized Experience?

To make the digital buying experience personal, deliver the right price to customers based on past transactions.

What is frictionless?

Frictionless sales experiences leverage technologies and processes that allow B-2-B. buyers to purchase quickly, easily and efficiently.

What is frictionless?

Creating a frictionless experience for your customers is the new battleground for B-2-B. companies.

What is omni-channel?

Deliver consistent customer experiences across all channels.

What is omni-channel?

Today’s buyer wants to move across channels with ease, and they expect all of your systems to work seamlessly to produce a consistent experience across all channels.

What is real-time?

Real-time customer experiences provide information, pricing and customer service immediately.

What is transparent?

Today’s buyers expect visibility into the details of product availability and pricing.

What is transparent?

Businesses that provide transparency and consistency to their customers will eventually gain the trust and loyalty of the potential customers they hope to win.

What is dynamic?

Businesses need to be dynamic in their pricing with the ability to change with market conditions and customer demands.

What is dynamic?

Customers expect instant pricing and information that reflects changing commodity costs, competitive moves, changing regulations and new product introductions.

What is mobile?

Mobile experiences allow customers and companies to engage anywhere at any time via smartphone or tablet.

What is algorithmic?

Today’s business requires that you not just automate, but infuse learning algorithms into key processes to keep up with market demands.

What is modern commerce?

Modern commerce is a new way of doing business that puts the buyer in control.

What is modern commerce?

Customer interactions that fulfill the promise of modern commerce focus on delivering frictionless, transparent, and consistent experiences across all sales channels.

What is dynamic pricing science?

Businesses that leverage dynamic pricing science eliminate sell discrepancies with a single source of truth for availability across all of your channels.

What is modern commerce?

Shifting to a modern commerce strategy allows companies to provide their customers with personalized offers and pricing, improves the buying experience, and maximizes revenues.

What is buyer interaction?

Fifty-nine percent of buyers prefer not to interact with a sales representative as their primary source of research.

What is buyer interaction?

Ninety-three percent of B-2-B buyers prefer to buy online when they’ve already decided what to buy.

What is sales strategy?

Sixty-five percent of decision makers responsible for B-2-B sales strategy believe B-2-B buyers increasingly buy online.

What is consistent buying experience?

Almost half of decision makers responsible for B-2-B sales strategy experience difficulties creating a consistent buying experience across all sales channels.

What is modern commerce?

Brands that win in modern commerce embrace the preferences of their buyers.

What is customer sales experience?

Unify your technology stack to deliver consistent, high-quality customer sales experiences.

What is solution automation?

Use machine learning tools to automate solutions and pricing recommendations that are unique to every customer you serve.

What is pricing approval process?

Modern commerce isn’t just about the buyer. Your pricing approval process should be frictionless for your sales team, too.

What are buyer preferences?

B-2-B buyers increasingly prefer not to interact with a salesperson when gathering information, tracking deliveries and shipping times, and buying a product or service.

What is buyer research?

Procurement professionals have access to more product data, third-party purchasing options, and crowd-sourced information than in the past.

What is customer loyalty?

The biggest contributor to customer loyalty and repeat business is the sales experience.

What is customer-centric sales process?

Consistent, organic revenue growth is not sustainable without focusing on the customer sales experience. In fact, you’re likely to lose revenue without a customer-centric sales process.

What is incremental business?

Companies cannot rely on brand alone to drive repeat and incremental business.

What is quote strategy?

Organizations that base quotes on segmentation analysis, customer buying patterns, and market data get the most value for their products.

What is data science?

Data science and algorithmic recommendations increasingly allow vendors to provide personalization in B-2-B sales.

What is sales experience?

The value of great sales experiences grows in importance when customers think all vendors have the same or similar offerings.

What is sales experience?

Research shows that the sales experience is more important to customers than product innovation and service delivery.

What is sales experience?

Nearly half of B-2-B companies say they expect that fully fifty percent of their customer base will be buying from them online within three years.

What is vendor response?

Fifty percent of deals are won by the vendor that responds first.

What are personalized recommendations?

Today’s customers expect highly-targeted and personalized cross-sell and up-sell recommendations. Unwanted or unneeded suggestions lead to lost revenue opportunities and customer dissatisfaction.

What is transparency?

Buyers want self-service and price transparency. They want it without the headaches and friction. And they want it now.

What is sales experience?

Today’s B-2-B buyers are fifty-seven percent through their buying cycles and evaluations before ever engaging with a vendor.

What is technological disruption?

Your buyers’ habits are changing. Your industry is not immune to technological disruption.

What is mobile sales experience?

The future is mobile. Do you have or are you planning sales experiences that involve mobile devices?

What is vendor response?

According to insidesales.com, fifty percent of the buyers choose the vendor that responds first.

What is artificial intelligence?

Good thing artificial intelligence has started to recognize humor because your sales will become a joke without modern commerce. Ha ha

What is a modern commerce slacker?

Pick up line number 24 for modern commerce slackers: your spreadsheet or mine? Ha ha

What is pricing strategy?

Oh, so this pricing is based on gut instinct? And let me guess, your retirement plan is based on a well-devised strategy to win the lottery too. Ha ha

What is pricing strategy?

Gut instinct and pricing go together about as well as mayonnaise and chocolate syrup. Both situations are pretty slippery and can leave you with a big mess. Ha ha

What is pricing strategy?

1999 called. It wants its pricing workbook back. Ha ha

What is digital transformation?

Not interested in digital transformation? You’ll be fine. Just ask Blockbuster. Ha ha

What is digital transformation?

Great macro! I bet you still listen to 8-tracks too. Ha ha

What is pricing strategy?

Career tip number 2231: pricing spreadsheet ninja is not a future-proof job title. Ha ha

What is pricing strategy?

You price based on gut instinct? If you knew how much profit you lose from pricing errors, your gut instinct would be to throw up. Ha ha

What is artificial intelligence?

What did the spreadsheet say to the artificial intelligence? Nothing. It’s a dumb spreadsheet. Ha ha

What does PROS have in store for Ford?

PROS has an exclusive webinar planned for Ford Motor Company in January. Join PROS Thursday, January 11, 2018 to learn how to leverage a modern commerce strategy to promote growth and viability for Ford. Contact your PROS sales rep, Jason Afdahl at jafdahl@pros.com.

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