All right. Well, hello and thank you all
for joining me on another episode of professional pricing
Society podcast. My name is Terrance and we have
yet another amazing conversation ahead of us with an amazing
individual. Today's guest is Hillary
Gretchen, she's the associate director of access and contract
analytics at jazz Pharmaceuticals.
She has extensive experience with both the how's and why's of
best pricing practices and values the importance of
managing, both the data technology, as well as the
people and And aspects Hillary is also a proud CPP Alum and
earn her MBA from the University of Redlands.
Miss Hilary how you doing today? Wonderful parents.
Thanks so much for talking with me this morning.
Absolutely, thank you so much for being here.
Now, you are a special guest in the sense that you are going to
be speaking at our upcoming conference, which will be taking
place in Dallas Texas. This upcoming May our 34th
annual pricing and workshop. Conference were very excited to
have you, and you're going to be sharing the light.
On a very necessary topic. So let's go ahead and jump right
into our conversation today. What exactly is curiosity and
why should I care about it as, you know, a pricer?
So that is a really excellent question, you know, and
curiosity is being able to step back from your existing
decisions, your mind sets these preconceived notions that you
have and ask. But what else in actually I was
just in a workshop where the instructor mentioned curiosity
lacks judgment. And I think this really
perfectly encapsulates, this view be curious allows you to
step outside of your swim Lane, you know your department and
even your industry to ask what is expected of your Addict and
your organization by The Wider Market.
Either thinking about your current and your future
customers and your competitors, you know, yes you may have had
success with last year's pricing strategy either by Design or you
kind of accidentally fell into it but really does that capture
the current Zeitgeist and more. So what could it be?
You know, if you aren't constantly asking questions, if
your customers and the customers of your competitors products
you're really setting yourself up for a rude awakening, and
Near future. So in a nutshell, prices are
much more than just spreadsheet jockeys and number crunchers,
right? We have this amazing.
If not daunting job of consolidating, all of the value
of our products. So, thinking about the tangible
and intangible components. And you put this into this
number, that is often stripped of its context.
So what we should be doing really is our best to ensure
that that number there is the full weight and value of Of all
of our offers, right? So curiosity, doesn't mean that
someone else is wrong in last, year's pricing efforts, but
rather that they can be adjusted to factor in changes that we saw
in the last year and out of that can become conflict, right?
Because you may be calling someone else's baby, ugly,
you're rocking their boat. You're moving their cheese or
you're just introducing change which is very scary to some
people it's be honest, all people, right?
But conflict is not a four letter word.
Word, contrary to popular opinion, healthy conflict.
Really allows us to grow as a team and an organization.
Okay. Now, healthy conflict.
You made mention of that now and what exactly is healthy
conflict, especially in the realm of, you know, co-workers,
and that sense Healthy conflict is really based on Mutual trust
and respect. You know it's not being right or
winning the argument. It's really steeped in both
parties arriving towards a mutually beneficial goal and
being aligned in their thoughts. So I challenge my coworker it's
because that I know we both want to our product to launch
successfully and the price to support how the customers use
our product if during a launch prep meeting, right?
It's uncovered that we're both dying.
Metrically opposed in our pricing strategy.
The question isn't, what's wrong with you co-worker?
You know, it's the help me better understand you how you
arrived at that number. You know, what analysis did you
use to get to that? We should be respectful.
But unafraid to ask questions. People may be guarded initially
but in showing an interest in their thought process, you're
actually showing a lot of respect for that person's
abilities, and competencies and Alignment overall with your
organization. Had another intelligent
co-worker, who recently mentioned that the heart
forgives when operating under positive intent.
And that really stuck with me, you know, if we feel that others
are coming from a place of respect and true intent, were
more willing to really forgive perceived slights.
And honestly, it's so easy to get caught up in our own
deliverables and timelines and we can feel that we need to
bulldozer because we bulldoze over other people and groups to
meet our goals. But by being curious and
understanding the other parties, concerns and trepidation, we can
really get to the heart of why we aren't aligned and how we can
really unwind and walk that back to ultimately, come to an
agreement. Okay, good, that's really good
to know, mining expounding on healthy conflict in from based
on what you're saying is sounds like it's meant to be something
constructive, you know, when it comes to healthy conflict and
working through things now, thinking about Partners, how
should I establish myself? The trusted partner while I'm in
pricing. So, this is the million dollar
question, right? Be trusted means that you speak
the languages of other functions and departments or I think
prices are polyglot and it also helps if you wear some of the
same Battle Scars thinking about it, you're in the foxholes and
you're in the trenches together and really appreciate where the
other person is coming from. So in this pricing role, you
aren't just a person maybe swings.
By the occasional meeting, you know, your way from across the
lunchroom or maybe in the virtual meeting you say hello.
But really you're this partner that works through problems with
them. You digest articles about the
markets landscape? You decrypt pricing jargon and
formulas, you know, you think how would you take this big
concept of net cost recovery and just put it in simple sentence
that other people can understand?
And really understanding, what is this?
So what to another person? What?
I understand what motivates them, you know, what keeps them
up at night. So you're really there to help
them better understand this full meal.
You and how do we really get across the Finish Line?
Together, help them think through this really difficult
Concepts, or this probing questions, just kind of be there
if someone wants to pop in your office.
And I would really think the still excuse me, distills, down
to curiosity, allows us to execute more successfully, you
can read tons of books and attend hours of webinar.
Ours, about what formula do you use to get to this magic profit
number? Or, you know, how to establish a
list price or a whack price? But ultimately, it's all about
being able to actually execute on that what good is paper.
If you can't make it impact your business, right?
So pricing teams are already often down one peg in the
perception that companies in the words of read Holden which the
sticks with me from a pdps meeting years ago.
Where this thing is Is prevention department, right?
And you know often times where this unpopular kid at our own
lunch table in the organization. So being curious really allows
us to connect back with other teams and hear their side of the
story. Now, we could go on and on about
expounding, on this particular topic, the Curiosity of pricing,
where can I learn more about about this topic?
Moving forward. So you can join me in Dallas
during my break out session on Thursday May 4th, and we can
chat about this amazing and impactful topic.
Feel free to grab you in the hallway, vendor Hall.
Can't wait to meet you and would love to continue the
conversation more. Now Hillary for those tuning in
with us today, where can they go to learn more about you or maybe
to get in contact with you? So you can always reach out on
LinkedIn and I'm available, Hillary Clinton CPP, and can be
a love to get in contact and talk with people that any
questions you may have, or definitely meet in person at
PPS. Okay, good, awesome.
Sounds great. The Curiosity of pricing Miss
killer is going to be going to be spearheading that
conversation. This upcoming May if you already
have not done. So we want to encourage you all
to register and take the time to visit our website and learn more
about the conferences and workshops to breakout sessions
and the keynote speakers. Thank you so much Hillary for
your discussion with me today. Until next time you all have a
good time. Bye, bye.