What is it?

The Price Position dashlet provides valuable insights into your pricing strategy by comparing your win-loss outcomes and price positioning compared to your strongest competitor. You can also customize the dashlet to allow for comparisons with specific competitors, products, or industries. This dashlet offers comprehensive insights into pricing dynamics, facilitating informed decision-making and competitive strategy development.

• Glossary
• Key Benefits
• Navigation
  • Outcome
  • Position
• Example Use Cases

Glossary

• Dashlet: A self-contained data visualization that is accessible on the homepage dashboard of TruVoice.
• Price Position: Refers to your relative pricing position compared to your strongest competitor in each deal. Higher, similar, lower, unknown. It's obtained by asking the client to compare you to the highest competitor or give a perception of price in event of no competition.
• De-duplication: The system removes duplicate data at the opportunity level to ensure accuracy and consistency in analytics. Discrepancies may arise when multiple contacts within the same opportunity provide conflicting responses.

Key Benefits

• Insightful Comparisons: The Price Position dashlet offers detailed insights by comparing your pricing strategy and win-loss outcomes to your strongest competitors, enabling strategic adjustments.
• Customizable Analysis: It allows for customization to compare pricing against specific competitors, products, or industries, tailoring the data to better suit specific strategic needs.
• Dual Perspectives: Features two distinct views—Outcome and Position—that facilitate a deeper understanding of how pricing impacts win-loss rates and how your prices compare to competitors in various deal scenarios.
• Strategic Optimization: Helps identify pricing patterns and trends that affect deal success or failure, guiding strategic adjustments to improve business growth and competitiveness.

Navigation

The Price Position dashlet is found on the Role-based Dashboard homepage, if prescribed to that role, or manually added. Price Position consists of two views offering distinct perspectives: Outcome and Position. By leveraging these views, you can analyze pricing performance in relation to win-loss outcomes, and derive actionable insights to optimize your pricing strategies and drive business growth. Each view contains the ability to view either the Count or the monetary Deal Value. These views are controlled by the toggle bar in the top right.

Outcome

This view categorizes deals into Wins and Losses, as well as All, and tracks whether your price position was higher, lower, or similar to that of the strongest competitor.

The Outcome view rollover displays 1) aggregate count and percentage of deals based on the total number for each position category in wins or losses, and 2) aggregate deal value and percentage of deal sizes for each position category in wins or losses. 

Position

The Position view presents a different angle by focusing on the various positions taken in deals of higher, lower, or similar price position. It offers a visual representation of the distribution of wins and losses across different pricing positions, enabling you to analyze your pricing strategy comprehensively.

The Position view rollover displays 1) aggregate count and percentage of deals based on the total number won or lost within that position category, and 2) aggregate deal value and percentage of deal sizes won or lost within that position category. 

Note: If you aim to maintain a similar price position to your strongest competitor, this would be reflected by a balanced distribution between higher, similar, and lower positions in your wins and losses. While a lower price position may lead to missed revenue opportunities or incomplete solutions for the client, a higher price position might indicate overselling and could lead to customer defections.

Example Use Cases

• Competitive Analysis: Understand how your pricing strategy compares to your competitors, allowing you to adjust pricing tactics to remain competitive in the market.
• Outcome Impact: Determine how your pricing position affects won or lost deal outcomes.
• Trend Identification: Identify patterns and trends in pricing performance to uncover factors contributing to deal success or failure.
• Competitor Comparison: Understand how your price position compares to a specific competitor.
• Product Pricing: Understand how you compare for a specific product across all competitors.