This client maximized their revenue despite vendor price increases and customer cost-cutting demands.
We added $4 million in profit (4% revenue lift)
What’s cutting into your profit?
In the medical field, costs and bottom lines are getting pinched more than ever. Our client, a national medical products distributor, was feeling the squeeze from all sides: vendors were not only increasing costs, but hospitals – the client’s primary customer – were actively seeking cost reductions. Past price increases had failed, and the sales team needed to know that any price changes would not mean roadblocks and lost business.
INSIGHT2PROFIT capitalized on the client’s distinct products and services while strengthening its financial positioning using a 4-step process: they looked at deriving revenue lift through (1) peer alignment, (2) comparative alignment, (3) adjusting the price ceiling and (4) custom adjusting specific price points. This included pricing recommendations for all products as well as training and support for the client’s sales team – helping them confidently and effectively negotiate with hospital buyers.