1 00:00:00,160 --> 00:00:03,000 Very good day, everyone. My name is Kevin Mitchell from 2 00:00:03,000 --> 00:00:06,520 Professional Pricing Society and welcome to the Let's Talk 3 00:00:06,520 --> 00:00:09,840 Pricing podcast. This podcast is where we talk 4 00:00:09,840 --> 00:00:12,720 issues for our members worldwide. 5 00:00:12,720 --> 00:00:16,160 We talk about revenue management, we talk about global 6 00:00:16,160 --> 00:00:21,200 macroeconomics, we talk about game theory and negotiating and 7 00:00:21,200 --> 00:00:24,400 analytics, and of course, everything pricing related. 8 00:00:24,400 --> 00:00:27,400 Thanks again for joining us today. 9 00:00:27,440 --> 00:00:31,360 I'm very, very pleased that we have two very knowledgeable 10 00:00:31,360 --> 00:00:35,680 gentlemen joining us today. That is Mr. Juan Echevery. 11 00:00:36,040 --> 00:00:40,320 Juan is a, he is the Head of Revenue Management and 12 00:00:40,320 --> 00:00:43,840 Commercial Planning for Latin America at Holsum, the concrete 13 00:00:43,840 --> 00:00:45,800 company. Of course, he is joining us from 14 00:00:45,800 --> 00:00:49,520 Mexico City. And one is a gentleman who is 15 00:00:49,520 --> 00:00:52,840 very, very knowledgeable in a lot of different areas as far as 16 00:00:52,840 --> 00:00:56,760 manufacturing processes, as far as revenue management, and 17 00:00:56,760 --> 00:01:02,160 someone who also leads a team. And joining us also today is Mr. 18 00:01:02,480 --> 00:01:05,280 Laurent De Sonia. Laurent is joining us from 19 00:01:05,280 --> 00:01:08,400 Amsterdam. He is the Co founder of Nexo 20 00:01:08,400 --> 00:01:11,560 Consulting. And a lot of us know Laurent 21 00:01:11,560 --> 00:01:16,760 through PPS when he was with Philips, where he was a strategy 22 00:01:16,760 --> 00:01:21,920 leader in healthcare, in health tech for Latin America as well. 23 00:01:22,280 --> 00:01:26,120 But really today we are very happy that we have two global 24 00:01:26,120 --> 00:01:29,280 leaders with a lot of experience joining us today. 25 00:01:29,600 --> 00:01:34,960 And of course, Juan and Laurent are great partners with PPS at 26 00:01:35,000 --> 00:01:40,280 PPS profitable in Dallas in May. On Wednesday, the 7th of May, 27 00:01:40,280 --> 00:01:43,720 they will be leading a workshop entitled Develop Your Revenue 28 00:01:43,720 --> 00:01:46,960 Growth Management Framework in one day. 29 00:01:46,960 --> 00:01:50,280 So Juan, Laurent, gentlemen, thank you so much for joining 30 00:01:50,280 --> 00:01:51,080 us. Looking forward to our 31 00:01:51,080 --> 00:01:54,080 discussions. Thank you so much, Kevin. 32 00:01:54,680 --> 00:01:56,680 It's a pleasure to talk to you always. 33 00:01:57,320 --> 00:01:59,680 Thank you, Juan, and thank you Laurent as well. 34 00:01:59,840 --> 00:02:01,920 No, thank you, Kevin. I mean, it's also a pleasure for 35 00:02:01,920 --> 00:02:05,720 for being here with you in this podcast and also great that we 36 00:02:05,720 --> 00:02:08,720 can have the privilege to, to talk in Dallas. 37 00:02:09,520 --> 00:02:11,440 Absolutely. So we are looking forward to 38 00:02:11,440 --> 00:02:14,920 seeing you in Dallas coming up. And of course, you all are 39 00:02:14,920 --> 00:02:17,680 veterans of doing great workshops and great 40 00:02:17,680 --> 00:02:19,960 presentations with us here at PPS. 41 00:02:19,960 --> 00:02:23,000 And I know a lot of people are excited about your workshop to 42 00:02:23,000 --> 00:02:25,600 come. So first of all, tell us a 43 00:02:25,600 --> 00:02:29,640 little bit about what we're going to learn and how we can 44 00:02:29,640 --> 00:02:32,120 develop our revenue growth management. 45 00:02:32,440 --> 00:02:34,720 And Laurent, we will start with you. 46 00:02:34,720 --> 00:02:39,920 What are some key strategies and tactics in your view that can 47 00:02:39,920 --> 00:02:42,120 help us develop our revenue growth management? 48 00:02:42,760 --> 00:02:45,440 Thank you, Kevin. I, I would maybe start saying 49 00:02:45,440 --> 00:02:50,280 this, the, the journey we will be on is really to give the 50 00:02:50,280 --> 00:02:55,080 attendees some practical tools, frameworks, some ammunitions, if 51 00:02:55,080 --> 00:02:59,840 you can say like this to, to really go for a structured plan 52 00:02:59,840 --> 00:03:02,680 to deliver sustainable and profitable growth. 53 00:03:02,800 --> 00:03:04,480 That's basically the main goal for us. 54 00:03:04,840 --> 00:03:06,520 So it's supposed to be very practical. 55 00:03:07,000 --> 00:03:11,080 We basically Juan and I share experience from all past 56 00:03:11,440 --> 00:03:14,440 industry experiences, so basically from different 57 00:03:14,440 --> 00:03:18,200 companies from of course all the same with Juan is still in, but 58 00:03:18,200 --> 00:03:21,520 also from Sanofi, PepsiCo and I show some examples from Philips. 59 00:03:21,760 --> 00:03:26,120 So it's really giving, sharing our experience, executing the 60 00:03:26,120 --> 00:03:29,640 strategy, making it stick to the organisations and to the 61 00:03:29,640 --> 00:03:31,680 commercial people make it happen. 62 00:03:31,960 --> 00:03:33,920 And at the end, we want the attendees to have this 63 00:03:33,920 --> 00:03:37,400 possibility to have a plan at the end of the day so they can 64 00:03:37,400 --> 00:03:41,200 bring it back to their world and try to start from there. 65 00:03:41,200 --> 00:03:44,840 So it's really made for people to have experience who will have 66 00:03:44,840 --> 00:03:48,320 maybe less experience, making them comfortable to, to develop 67 00:03:48,320 --> 00:03:52,560 something new, having something structured, a plan to start the 68 00:03:52,560 --> 00:03:55,080 journey on revenue growth. That's a little bit what we what 69 00:03:55,080 --> 00:03:58,400 we hope we can achieve in that, in that day and we had already 70 00:03:58,400 --> 00:04:03,280 done it in Chicago last year and was quite successful. 71 00:04:03,280 --> 00:04:07,720 So we hope to repeat the same in in Dallas with the new audience. 72 00:04:08,560 --> 00:04:10,640 Understood. And thank you so much, Laurent. 73 00:04:10,640 --> 00:04:14,480 And of course, we love things that are actionable for our 74 00:04:14,640 --> 00:04:17,600 member companies and for our members themselves. 75 00:04:18,000 --> 00:04:21,120 So that's great, and I'm sure everyone will appreciate the 76 00:04:21,680 --> 00:04:25,800 availability of your experience and learning about how they can 77 00:04:26,040 --> 00:04:29,960 execute successful strategies, how they can create plans. 78 00:04:30,240 --> 00:04:34,880 And really, it's going to be a wonderful day where we can all 79 00:04:34,880 --> 00:04:38,400 learn on how to take our RGM, our revenue growth management 80 00:04:38,400 --> 00:04:39,920 forward. So thank you very much for that. 81 00:04:40,360 --> 00:04:44,160 And 1, Sir, how about from your viewpoint, from your 82 00:04:44,160 --> 00:04:47,640 perspective, what are some other things that our members are 83 00:04:47,640 --> 00:04:52,280 going to come away with after your workshop with us in Dallas? 84 00:04:53,400 --> 00:04:58,360 I guess the the way we structure this is by leveraging the 85 00:04:58,360 --> 00:05:03,240 experience that we as practitioners had with also top 86 00:05:03,240 --> 00:05:08,880 consulting firms like some culture, Deloitte and so on in 87 00:05:08,880 --> 00:05:13,400 different industries. When, when I work at PepsiCo, we 88 00:05:13,400 --> 00:05:16,400 developed from scratch the whole, seeing the whole 89 00:05:16,400 --> 00:05:20,680 framework for, for Latin America based on, on their experiences 90 00:05:20,680 --> 00:05:26,000 and, and the work that was already done in, in the US and, 91 00:05:26,040 --> 00:05:29,520 and on other regions of within the PepsiCo world. 92 00:05:29,880 --> 00:05:35,280 And also when I joined Sanofi, we started the journey as well. 93 00:05:36,480 --> 00:05:39,040 There, there was something already in place, but we, we 94 00:05:39,040 --> 00:05:43,600 finished that up. So we, I, I guess we blend all 95 00:05:43,600 --> 00:05:47,680 those experiences and also had some experiences with the 96 00:05:48,000 --> 00:05:52,360 developing their own framework. So we tried to take the best out 97 00:05:52,360 --> 00:05:58,600 of those experiences and blend with real case scenarios where 98 00:05:58,600 --> 00:06:03,520 we developed the theory, but we were also able to apply that 99 00:06:03,520 --> 00:06:09,160 theory and basically we learn, of course, we were not, not no 100 00:06:09,160 --> 00:06:11,920 one is perfect. So we, we want to learn as as 101 00:06:11,920 --> 00:06:15,280 well of, of them from the mistakes that we, we, we, we 102 00:06:15,280 --> 00:06:19,600 made implementing this. So I guess that's, that's the 103 00:06:19,600 --> 00:06:23,960 richness of our worship. And I know the last point I 104 00:06:23,960 --> 00:06:27,920 guess is that we, we try to do it very practical and very 105 00:06:28,040 --> 00:06:32,040 adapted to do to our audience. We do our homework before 106 00:06:32,040 --> 00:06:34,880 joining the worship. We already know who's attending 107 00:06:34,880 --> 00:06:37,680 what's, which industries are we talking about. 108 00:06:37,680 --> 00:06:42,120 So we try to also customize for the audience for them to take 109 00:06:42,120 --> 00:06:43,960 out the most out of the of the session. 110 00:06:43,960 --> 00:06:46,920 And we are very flexible since we are practitioners, we are 111 00:06:46,920 --> 00:06:50,480 very flexible in, in the way we develop the session and try to 112 00:06:50,480 --> 00:06:53,200 focus on this, on the very specific things that the, the, 113 00:06:53,400 --> 00:06:55,600 the the public need. Understood. 114 00:06:55,600 --> 00:06:57,400 Thank you so much, Juan. That's great. 115 00:06:57,720 --> 00:07:02,440 And of course, we always love the real case studies, the real 116 00:07:02,440 --> 00:07:06,280 examples, and of course, we also love how we can look to apply 117 00:07:06,280 --> 00:07:09,400 those to our daily businesses as well. 118 00:07:09,880 --> 00:07:12,920 And one of the things that you mentioned is, of course, none of 119 00:07:12,920 --> 00:07:15,600 us are perfect. And of course, pricing and 120 00:07:15,600 --> 00:07:20,080 revenue management are jobs where we will certainly all have 121 00:07:20,080 --> 00:07:22,440 missteps. We certainly hope to learn from 122 00:07:22,440 --> 00:07:25,920 them and to move forward. But you mentioned some things 123 00:07:25,920 --> 00:07:30,600 that with your experiences there, of course we all make 124 00:07:30,600 --> 00:07:34,040 mistakes, but we learn from them and we do better and we move on. 125 00:07:34,480 --> 00:07:38,160 And I've always thought that's an interesting approach for our 126 00:07:38,160 --> 00:07:42,000 CPP workshops that we offer. Because a lot of the times I 127 00:07:42,000 --> 00:07:46,400 know I go to events around the world for our part of the 128 00:07:46,400 --> 00:07:49,000 business world and related parts of the business world as well. 129 00:07:49,280 --> 00:07:52,160 And everyone is like, hey, here, all the best practices, if you 130 00:07:52,160 --> 00:07:55,040 do this, it will work perfectly. But of course that's not the 131 00:07:55,040 --> 00:07:57,240 case. Every situation can be a little 132 00:07:57,240 --> 00:08:01,760 bit different and sometimes we can all learn more from slight 133 00:08:01,760 --> 00:08:04,400 missteps or mistakes then we can. 134 00:08:04,480 --> 00:08:08,320 And when everything goes gloriously well and when we have 135 00:08:08,320 --> 00:08:11,040 mistakes and things like that, those can make for great case 136 00:08:11,040 --> 00:08:14,200 studies where we can see what went wrong, what adjustments we 137 00:08:14,200 --> 00:08:17,280 needed to make and how we can do better going forward. 138 00:08:17,280 --> 00:08:21,600 So I think that that is a great explanation there and I 139 00:08:21,600 --> 00:08:25,120 appreciate that. So a couple other questions for 140 00:08:25,120 --> 00:08:27,640 you gentlemen. And we'll reverse our order this 141 00:08:27,640 --> 00:08:29,920 time. So Juan, we'll start with you so 142 00:08:29,920 --> 00:08:34,320 that Laurent doesn't have all the fun, but let's talk about 143 00:08:34,320 --> 00:08:37,919 some of the specific revenue growth management pillars that 144 00:08:37,919 --> 00:08:41,679 you'll be teaching. Can you give us a preview of the 145 00:08:41,679 --> 00:08:45,280 pillars that you're going to concentrate on and how they can 146 00:08:45,280 --> 00:08:48,400 apply across different specific industries? 147 00:08:49,040 --> 00:08:52,320 Thank you, Kevin. Yes, basically we structured the 148 00:08:52,320 --> 00:08:56,400 the session around 4 pillars. The first of course is is 149 00:08:56,400 --> 00:09:00,840 pricing. We we talk about value based 150 00:09:00,840 --> 00:09:08,480 pricing and how to get it done with our own experiences and and 151 00:09:08,480 --> 00:09:11,120 learnings. Then we move to portfolio 152 00:09:11,120 --> 00:09:15,880 management that it's also a way to get a profitable growth by 153 00:09:15,880 --> 00:09:19,680 focusing on the right elements of within your portfolio. 154 00:09:19,680 --> 00:09:22,960 How do you optimize those? How do you optimize the sales 155 00:09:22,960 --> 00:09:25,920 mix depending on the channel and type of customers? 156 00:09:26,600 --> 00:09:30,240 Then we move to promotional management. 157 00:09:30,680 --> 00:09:35,720 I guess that's something that we are all interested and, and, and 158 00:09:35,840 --> 00:09:41,400 I have found probably a misconception on those must be 159 00:09:41,400 --> 00:09:45,960 to be people will think that promotional management is only, 160 00:09:46,400 --> 00:09:50,000 I think for, for MC FM, CG or file of, of retail. 161 00:09:50,440 --> 00:09:54,680 But it's something that you can do in any type of industry. 162 00:09:54,680 --> 00:09:58,720 If you really get your, your category and your customers, you 163 00:09:58,720 --> 00:10:02,200 can do it right. And finally, but I guess it's 164 00:10:02,200 --> 00:10:05,480 one of the most interesting and, and personally, I really love 165 00:10:05,480 --> 00:10:08,280 it. It's how you develop a, a 166 00:10:08,280 --> 00:10:12,920 channel strategy that the answers to the needs of your 167 00:10:12,920 --> 00:10:17,960 customers and, and really Dr. profitable growth for both 168 00:10:17,960 --> 00:10:21,920 parties. So 4 pillars that we try to as 169 00:10:21,920 --> 00:10:28,240 as I mentioned, we try to really adopt, adapt those to the type 170 00:10:28,240 --> 00:10:30,360 of industries that we have in the room. 171 00:10:30,680 --> 00:10:37,360 So we have flexibility to move from FMCG to B to B or to pharma 172 00:10:37,360 --> 00:10:42,120 or any specific industry. We, we have work on, in, in, in 173 00:10:42,120 --> 00:10:45,640 different ones. So we have that ability when we 174 00:10:45,640 --> 00:10:47,480 started working on this with Laurent. 175 00:10:48,160 --> 00:10:51,640 That's why we we created this partnership with him because we 176 00:10:51,640 --> 00:10:56,240 complement each other's profile very well to the something wide 177 00:10:56,240 --> 00:10:59,800 enough for different industries. Absolutely. 178 00:10:59,800 --> 00:11:02,280 Thank you so much, Juan. So just so I'm understanding 179 00:11:02,280 --> 00:11:05,960 everything correctly and for our members, the four pillars, one 180 00:11:05,960 --> 00:11:09,600 we look at pricing specifically leaning towards value based 181 00:11:09,600 --> 00:11:12,680 pricing of course. The second one was portfolio 182 00:11:12,680 --> 00:11:15,440 management. We're looking at optimizing our 183 00:11:15,440 --> 00:11:18,680 mix where we're going to focus which products, which services 184 00:11:18,680 --> 00:11:21,320 and so on and so forth there. The third pillar you mentioned 185 00:11:21,320 --> 00:11:24,720 was promotional management and you're correct, a lot of us 186 00:11:24,720 --> 00:11:31,520 think that that is purely a retail, it is purely on consumer 187 00:11:31,520 --> 00:11:34,040 goods or something like that. But of course, we're all seeing 188 00:11:34,040 --> 00:11:37,080 more and more promotional management in business to 189 00:11:37,080 --> 00:11:40,880 business with manufacturers, with people who do services and 190 00:11:40,880 --> 00:11:43,880 elsewhere, of course, in addition to that. 191 00:11:43,880 --> 00:11:46,960 And that's a very, very important pillar as well. 192 00:11:47,320 --> 00:11:50,440 And of course, you ended your fourth pillar there on 193 00:11:50,720 --> 00:11:54,440 developing channel strategies, which is very, very important 194 00:11:54,440 --> 00:11:58,000 these days since most of us sell through multiple channels that 195 00:11:58,000 --> 00:12:00,920 sometimes if we're not doing everything correctly right, can 196 00:12:01,080 --> 00:12:04,600 even compete with each other. And of course sometimes our 197 00:12:04,600 --> 00:12:07,440 customers are very smart. They figure out that we have 198 00:12:07,440 --> 00:12:10,800 multiple channels as well. So they might investigate each 199 00:12:10,800 --> 00:12:14,840 and every channel that we deliver our products and goods 200 00:12:14,840 --> 00:12:18,840 and services through and compare and contrast and look for the 201 00:12:18,840 --> 00:12:21,640 best deals there. So we have to maintain that 202 00:12:21,640 --> 00:12:25,640 consistency. And I know from knowing both of 203 00:12:25,640 --> 00:12:28,000 you, from seeing your presentations and your workshop, 204 00:12:28,760 --> 00:12:31,680 that not only are we going to just learn about the four 205 00:12:31,680 --> 00:12:36,280 pillars that Juan just talked about, but Laurent and Juan are 206 00:12:36,280 --> 00:12:41,000 also going to talk about how we can execute them based on your 207 00:12:41,000 --> 00:12:44,320 company, your company's goals, your company's unique maturity 208 00:12:44,640 --> 00:12:48,440 and your company's needs. So Laurent, a question for you, 209 00:12:48,440 --> 00:12:51,600 please. What does that customization 210 00:12:51,600 --> 00:12:54,920 process look like when we're talking about these pillars? 211 00:12:55,440 --> 00:12:57,480 Yeah. I mean for us like what I was 212 00:12:57,480 --> 00:13:02,640 saying, so depending on the audience that we have at that 213 00:13:02,640 --> 00:13:07,840 workshop, we will try to show examples on how it could apply 214 00:13:07,840 --> 00:13:09,400 to the industry. Yeah. 215 00:13:10,320 --> 00:13:14,280 So when we do value based pricing for consumer goods or 216 00:13:14,280 --> 00:13:17,040 when we do it for healthcare products or when we do with 217 00:13:17,040 --> 00:13:21,280 construction company material for example, it's a different, 218 00:13:21,280 --> 00:13:22,520 it's a different exercise. Yeah. 219 00:13:22,520 --> 00:13:25,520 So the theory might be very similar, but the way you will 220 00:13:25,520 --> 00:13:28,440 put it in practice, the way you will make it stick, the 221 00:13:28,440 --> 00:13:30,360 organization, it will be different. 222 00:13:30,960 --> 00:13:34,120 I can give an example or so on the pricing angle. 223 00:13:34,720 --> 00:13:38,720 So my journey at Philips was split between consumer business 224 00:13:38,720 --> 00:13:41,560 at Philips or the consumer electronics which is a little 225 00:13:41,560 --> 00:13:43,560 bit closer to what we call fast moving. 226 00:13:43,880 --> 00:13:47,880 And then the other side which was healthcare, very different 227 00:13:48,440 --> 00:13:50,520 portfolio, very different dynamic. 228 00:13:51,720 --> 00:13:54,720 I could not apply everything that I knew about value based 229 00:13:54,720 --> 00:13:58,000 pricing from the consumer business to healthcare. 230 00:13:58,640 --> 00:14:02,240 Healthcare was much more trying to understand the economic, the 231 00:14:02,240 --> 00:14:07,520 economic value of our solutions, who the hospitals understanding 232 00:14:08,120 --> 00:14:12,200 the output it it gives like reduction of costs, for example, 233 00:14:12,560 --> 00:14:15,240 a better flow, better productivity, better patient 234 00:14:15,240 --> 00:14:18,000 experience. If you have many stakeholders 235 00:14:18,000 --> 00:14:21,200 involved in a in a hospital. So it's not only about the user, 236 00:14:21,440 --> 00:14:23,800 it was the buyer. There is the CEO, there is the 237 00:14:23,800 --> 00:14:27,880 staff, there is many people involved in, in the experience 238 00:14:28,200 --> 00:14:32,320 for consumer, it's, I wouldn't say simpler, but maybe it is so 239 00:14:32,320 --> 00:14:36,320 because you have usually one buyer or maybe maybe a buyer and 240 00:14:36,320 --> 00:14:38,840 a user. So the number of stakeholders 241 00:14:38,840 --> 00:14:41,240 you need to take into account is more limited. 242 00:14:41,480 --> 00:14:43,440 The dynamic is also very different, right? 243 00:14:43,440 --> 00:14:48,520 So it's more about psychology, psychology of purchase than 244 00:14:48,520 --> 00:14:51,960 really going to all the economic, let's say value 245 00:14:51,960 --> 00:14:53,920 drivers. So there are things that you can 246 00:14:53,920 --> 00:14:55,280 replicate. There are things that you need 247 00:14:55,280 --> 00:14:57,440 to, to adapt. And that's what we will try to 248 00:14:57,440 --> 00:15:00,240 do in the, in the workshops based on the audience really 249 00:15:00,240 --> 00:15:03,040 understanding the, the, the stakeholders we are talking to 250 00:15:03,200 --> 00:15:07,440 and try to replicate for them. So we have for every single 251 00:15:07,440 --> 00:15:12,600 pillar exercises so that every attendee can really sit on a 252 00:15:12,600 --> 00:15:15,040 sheet of paper and try to replicate what we just 253 00:15:15,040 --> 00:15:17,200 explained. So the value based pricing is 254 00:15:17,200 --> 00:15:20,920 the size they will have the chance to map value drivers for 255 00:15:20,920 --> 00:15:23,680 their own solution and we will help of them on that. 256 00:15:23,920 --> 00:15:26,640 On that journey is a short exercise but that should give 257 00:15:26,640 --> 00:15:31,360 them the confidence to replicate it later for for their portfolio 258 00:15:31,440 --> 00:15:33,720 and maybe for the organization to date. 259 00:15:34,000 --> 00:15:35,880 But we do the same for every single pillar. 260 00:15:36,200 --> 00:15:39,320 So we will give some concrete example of what we have left. 261 00:15:39,880 --> 00:15:43,240 We can also talk about their own industry and try to make it 262 00:15:43,240 --> 00:15:46,360 customized for for them. Understood and thank you so much 263 00:15:46,440 --> 00:15:48,880 Laurent. I love your explanation about 264 00:15:48,880 --> 00:15:53,120 how different industries lead to different experiences and very 265 00:15:53,120 --> 00:15:56,920 simply how value based pricing in a consumer business can be 266 00:15:56,920 --> 00:16:00,600 very, very different than value based pricing from a healthcare 267 00:16:00,840 --> 00:16:03,720 perspective. Obviously within healthcare, 268 00:16:03,960 --> 00:16:07,760 there's a bit of what we would call an agency type of a 269 00:16:07,760 --> 00:16:12,200 situation where the hospital might purchase the healthcare, 270 00:16:12,200 --> 00:16:14,480 but of course it's their patients who are the actual 271 00:16:14,480 --> 00:16:18,400 users of the the healthcare. So that presents a very 272 00:16:18,400 --> 00:16:22,560 different situation than a consumer business where if I or 273 00:16:22,560 --> 00:16:25,840 you or Juan as a consumer purchase something, we're 274 00:16:25,840 --> 00:16:28,800 probably going to be the user or our families will. 275 00:16:28,800 --> 00:16:31,240 And so it's a very, very different situation there. 276 00:16:31,680 --> 00:16:35,960 And I like how your experiences at Philips and elsewhere and 277 00:16:36,080 --> 00:16:40,920 you're at Phillips and elsewhere allow you to have that variety 278 00:16:40,920 --> 00:16:43,960 where you can take things from specific elements, specific 279 00:16:43,960 --> 00:16:47,320 verticals, specific industries and look for ways that they can 280 00:16:47,320 --> 00:16:52,800 apply to our audience and to apply basically in different 281 00:16:52,800 --> 00:16:56,800 ways to help our revenue growth management exceed and to do 282 00:16:56,800 --> 00:16:59,400 things better there. So thank you very much for the 283 00:16:59,400 --> 00:17:02,640 explanation on that one as well. I appreciate that. 284 00:17:03,280 --> 00:17:08,040 So other questions for you, Juan and Laurent. 285 00:17:08,560 --> 00:17:13,040 A big part of success in pricing and in revenue growth management 286 00:17:13,400 --> 00:17:16,280 seems to be stakeholder alignment. 287 00:17:17,200 --> 00:17:22,760 Can I ask each of you to share an example of how you've seen 288 00:17:22,760 --> 00:17:27,040 teams build confidence with their leadership by involving 289 00:17:27,040 --> 00:17:30,920 them in the revenue growth management framework, design 290 00:17:30,920 --> 00:17:34,680 implementation And basically the process is there and we'll 291 00:17:34,680 --> 00:17:38,480 reverse our order again. So Laurent, this time we will 292 00:17:38,480 --> 00:17:41,360 start with you. So tell us about an example 293 00:17:41,360 --> 00:17:45,960 where you've seen a team build confidence with leadership when 294 00:17:45,960 --> 00:17:49,760 talking about revenue growth, management strategies and next 295 00:17:49,760 --> 00:17:53,080 steps. Yeah, I would, I would say I've 296 00:17:53,080 --> 00:17:58,400 seen it very good example at at Philips on the consumer business 297 00:17:58,480 --> 00:18:02,320 when we had developed a very strong revenue growth management 298 00:18:02,320 --> 00:18:05,680 framework, probably replicating what the best practices from 299 00:18:05,680 --> 00:18:10,360 fast moving well and and then you could see the whole 300 00:18:10,360 --> 00:18:14,040 organization behind the the framework. 301 00:18:14,040 --> 00:18:19,400 So we had shared goals, the the KPIs of performance were quite a 302 00:18:19,400 --> 00:18:24,080 line around the organization and there was also a very good 303 00:18:24,160 --> 00:18:29,120 balance between the central governance of that that 304 00:18:29,120 --> 00:18:32,320 framework and the different markets who had to execute the 305 00:18:32,320 --> 00:18:34,920 strategy. So I would say there were always 306 00:18:34,920 --> 00:18:36,480 tensions. Of course, I mean that you 307 00:18:36,480 --> 00:18:39,320 cannot not ever. Usually there is a tension 308 00:18:39,560 --> 00:18:42,640 because one is focusing much more on selling and some are 309 00:18:42,640 --> 00:18:46,880 focusing more on profitability. But at the end, as a as a, as a 310 00:18:46,880 --> 00:18:50,600 company, I could see that there was a good balance between the 311 00:18:50,720 --> 00:18:56,360 market and the headquarter. And I can make also the analogy 312 00:18:56,360 --> 00:18:59,600 of what I've seen on the B2B side, where I could see the team 313 00:18:59,600 --> 00:19:03,080 struggling a little bit more to find the same balance of 314 00:19:03,600 --> 00:19:07,040 orchestrating the, let's say, the execution of that strategy 315 00:19:07,040 --> 00:19:11,760 and make it make it land in the, in the countries, which is, 316 00:19:11,760 --> 00:19:14,480 let's say why it's also good to to see the differences between 317 00:19:14,480 --> 00:19:18,120 the different industries and CEO case in the same company. 318 00:19:18,120 --> 00:19:22,160 Even you can have best practices and still struggle in other 319 00:19:22,160 --> 00:19:25,040 parts of the organization. And I could see there that the 320 00:19:25,040 --> 00:19:29,120 stakeholders were not always In Sync and there were too many, 321 00:19:29,120 --> 00:19:33,360 let's say, conflicts around finally the same strategy. 322 00:19:34,080 --> 00:19:37,320 So that's where we were always coming back on the same thing. 323 00:19:37,560 --> 00:19:41,400 The most important in in the organization is how well you 324 00:19:41,400 --> 00:19:45,200 communicate around your strategy and how well you make sure that 325 00:19:45,200 --> 00:19:48,920 the executions stick from the top, the bottom of the 326 00:19:48,920 --> 00:19:51,800 organization. And that was also the power of 327 00:19:51,800 --> 00:19:54,440 the discussion I had with one where we were exchanging those, 328 00:19:54,760 --> 00:19:58,000 those insights from different, let's say, experiences from 329 00:19:58,000 --> 00:20:01,200 different industry and we could connect the dot OK, you, you 330 00:20:01,200 --> 00:20:03,120 know, here, I think we had the best practice here. 331 00:20:03,120 --> 00:20:05,960 I think we could do better. And then we can bring it back in 332 00:20:05,960 --> 00:20:09,240 our workshop and share that experience and say, look, don't 333 00:20:09,240 --> 00:20:12,160 replicate those mistakes because I think we can give you some 334 00:20:12,160 --> 00:20:15,800 tips to avoid them and try to see that there are some best 335 00:20:15,800 --> 00:20:17,120 practice that you can leverage on. 336 00:20:17,120 --> 00:20:21,400 And I think that's what we try to bring because of course I've 337 00:20:21,400 --> 00:20:26,560 seen also the situation where. Not aligning all the 338 00:20:26,560 --> 00:20:30,080 stakeholders can bring actually a lot of frustration, but also 339 00:20:30,080 --> 00:20:33,280 some bad results. So it's always good good to go 340 00:20:33,280 --> 00:20:36,720 back to the essence of, OK, we are all human beings. 341 00:20:37,000 --> 00:20:39,560 Let's make sure that you communicate and try to make 342 00:20:39,560 --> 00:20:42,200 results together. So that's the say what I would, 343 00:20:42,600 --> 00:20:44,480 what I would say. OK, I understand. 344 00:20:44,480 --> 00:20:48,280 Thank you so much, Laurent. And of course, people who listen 345 00:20:48,280 --> 00:20:51,880 to the Let's Talk pricing podcasts have heard me say this 346 00:20:52,240 --> 00:20:56,440 a couple times already. But as revenue managers, as 347 00:20:56,800 --> 00:21:00,080 pricing strategy analysts, managers, directors, vice 348 00:21:00,080 --> 00:21:03,240 presidents, we have to be both artists and scientists. 349 00:21:03,440 --> 00:21:07,320 And a lot of that art is communicating, reaching and 350 00:21:07,320 --> 00:21:11,400 deciding where we have common goals, how we can help out each 351 00:21:11,400 --> 00:21:14,080 other. And of course, that leads to the 352 00:21:14,080 --> 00:21:18,120 execution, which might be more on the scientific end where we 353 00:21:18,120 --> 00:21:20,640 look at the numbers and we look at actual things that we can do 354 00:21:20,640 --> 00:21:23,760 in specific situations there. So I love that example. 355 00:21:23,760 --> 00:21:27,960 So thank you so much and Juan for you Sir, same question. 356 00:21:27,960 --> 00:21:31,040 Can you share an example where you've seen a team build 357 00:21:31,040 --> 00:21:35,360 confidence with their leadership by involving them in a revenue 358 00:21:35,360 --> 00:21:40,120 growth management framework? And I, I was reflecting and and 359 00:21:40,120 --> 00:21:44,800 it it's good that I was on 2nd place because I, I can't think 360 00:21:44,800 --> 00:21:48,440 better my my answer. But actually I I think I would 361 00:21:48,440 --> 00:21:52,720 like to share one example that is very recent. 362 00:21:53,280 --> 00:21:57,880 We we have been building trust with the sales teams for the 363 00:21:57,880 --> 00:22:04,560 last five years on on how we do our pricing strategies and 364 00:22:04,560 --> 00:22:08,800 basically on our side. On our side there are two 365 00:22:08,800 --> 00:22:12,800 lessons. First, if you involve evolve 366 00:22:12,960 --> 00:22:18,720 from the very sales Rep to the sales director early on, on 367 00:22:18,880 --> 00:22:22,680 during the process, the decision making process, they, those guys 368 00:22:22,680 --> 00:22:27,000 will really become ambassadors and and will endorse your 369 00:22:27,000 --> 00:22:30,240 strategy because they feel part of, of, of the strategy. 370 00:22:30,680 --> 00:22:32,880 So that's, that's one piece of advice. 371 00:22:32,880 --> 00:22:36,360 And then everything is everything else is very easy 372 00:22:36,360 --> 00:22:40,200 because you're already tested and learned from them when and 373 00:22:40,200 --> 00:22:45,440 then if you go up in the in the hierarchy ladder, it is going to 374 00:22:45,440 --> 00:22:49,040 be easier because you already build trust on the on the lower 375 00:22:49,040 --> 00:22:53,720 side. So, and, and very specifically, 376 00:22:53,720 --> 00:23:00,920 when we introduce the AI powered strategy, something that was new 377 00:23:00,920 --> 00:23:07,720 for everyone, many of the feel like using AI is like a black 378 00:23:07,720 --> 00:23:11,800 box. You put things in that and you 379 00:23:11,800 --> 00:23:14,640 don't know what's happening on the inside. 380 00:23:14,640 --> 00:23:18,200 And then when you take it out the, the outcome, you don't 381 00:23:18,200 --> 00:23:20,600 understand the process, the thinking process and the 382 00:23:20,600 --> 00:23:27,680 processing of the tool. So what we did is try and and to 383 00:23:27,800 --> 00:23:32,360 test and learn with them by creating these peer groups, 384 00:23:32,680 --> 00:23:36,880 customer pre peer groups. So we started saying, look, if 385 00:23:36,880 --> 00:23:41,240 you have customer X that is very similar and share these five of 386 00:23:41,640 --> 00:23:46,960 or 10 characteristics with this group of customers that is also 387 00:23:46,960 --> 00:23:51,640 from your region, from your scope and, and see how they are 388 00:23:51,960 --> 00:23:56,360 performing in a different way. You can see by yourself why the, 389 00:23:56,760 --> 00:24:00,880 the tool, the, the, the software is giving, it's giving us this 390 00:24:00,880 --> 00:24:03,040 type of recommendation to increase prices. 391 00:24:03,680 --> 00:24:08,320 So we take it, take them by the hand and walk them through the 392 00:24:08,320 --> 00:24:12,240 whole process. And by doing that, they really 393 00:24:12,560 --> 00:24:16,720 grew confidence on, on the tool and how the tool will work. 394 00:24:17,320 --> 00:24:20,560 And nowadays they love it. They, they just love it. 395 00:24:20,560 --> 00:24:24,760 They just adopt anything that the tool will recommend because 396 00:24:24,760 --> 00:24:28,000 they really were part of the of the, of the decision making 397 00:24:28,000 --> 00:24:32,840 process and how we tweak the, the OR fine tune the, the tool 398 00:24:33,320 --> 00:24:38,840 to make it work for us instead of against them as they might 399 00:24:38,840 --> 00:24:42,560 see the tool at the beginning. So that's something that we are, 400 00:24:42,640 --> 00:24:46,800 we are also including in our workshop probably is not written 401 00:24:46,800 --> 00:24:51,120 in stone, but if anyone wants to learn from our experiences 402 00:24:51,480 --> 00:24:55,680 implementing AI tools like Pross, that is my case. 403 00:24:56,560 --> 00:24:58,960 That's something that we can also cover and and share 404 00:24:58,960 --> 00:25:03,200 examples on how we do it for different business units on 405 00:25:03,200 --> 00:25:06,680 different modules, smart pricing, smart optimization, 406 00:25:06,720 --> 00:25:09,960 evade to management. So that's something that I guess 407 00:25:09,960 --> 00:25:13,200 is very powerful nowadays to to share also with the with with 408 00:25:13,200 --> 00:25:14,440 people. Horrific. 409 00:25:14,440 --> 00:25:17,160 Thank you, Juan. And that's a good thing about a 410 00:25:17,160 --> 00:25:21,280 workshop with Laurent De Sonia and with Juan Echevari is that 411 00:25:22,160 --> 00:25:25,600 being in some of their presentations before, I know 412 00:25:25,600 --> 00:25:28,960 that they can tailor needs. And of course, they will be able 413 00:25:28,960 --> 00:25:30,480 to answer your specific question. 414 00:25:30,480 --> 00:25:35,040 So I would encourage anyone, if you are considering AI tools or 415 00:25:35,040 --> 00:25:38,320 if you have AI tools that have been considered for you and you 416 00:25:38,320 --> 00:25:42,120 have questions about that, then certainly they are both expert 417 00:25:42,120 --> 00:25:44,480 in how you can make that transition. 418 00:25:44,800 --> 00:25:49,320 And one, I really like your explanation about how we thought 419 00:25:49,880 --> 00:25:54,080 in your instance that AI was this big black box where data 420 00:25:54,080 --> 00:25:57,680 goes in and data comes out. But once you walk them through 421 00:25:57,680 --> 00:26:00,760 the process, once you look at the customer peer groups and 422 00:26:00,760 --> 00:26:04,760 understood it, that everyone really bought into it once they 423 00:26:04,760 --> 00:26:08,840 figured things out and once they were able to see it in action. 424 00:26:08,840 --> 00:26:12,640 So that's one of these things where we can look at human 425 00:26:12,640 --> 00:26:15,840 nature and look at us. And sometimes when we understand 426 00:26:15,840 --> 00:26:19,840 things we tend to rely on, the more understand, the more 427 00:26:19,920 --> 00:26:22,840 understanding, the more means that we can get better results 428 00:26:22,840 --> 00:26:25,720 from them as well. So that's very interesting on 429 00:26:25,720 --> 00:26:28,040 how we can take a new tool, a modern tool. 430 00:26:28,280 --> 00:26:30,560 But once we see the inner workings of it, once we see the 431 00:26:30,560 --> 00:26:34,400 explanations behind it, then it can become something that works 432 00:26:34,400 --> 00:26:37,080 for us, something that we don't question as much, and something 433 00:26:37,280 --> 00:26:40,800 that allows us to exceed expectations and to do even 434 00:26:40,800 --> 00:26:42,800 better. So appreciate that information 435 00:26:42,800 --> 00:26:46,120 there. And Juan and Laurent, thank you 436 00:26:46,120 --> 00:26:48,960 so much. We are almost running out of 437 00:26:48,960 --> 00:26:53,400 time here, but I do want to encourage everyone if you are 438 00:26:53,400 --> 00:26:56,880 interested in any things that we've talked about in building 439 00:26:56,880 --> 00:27:00,560 your revenue growth management strategies and working with your 440 00:27:00,560 --> 00:27:03,800 teams at looking at pricing expertise, looking at value 441 00:27:03,800 --> 00:27:07,280 based pricing, you can certainly take advantage of their 442 00:27:07,360 --> 00:27:09,440 workshop. It's going to be on Wednesday, 443 00:27:09,440 --> 00:27:14,840 the 7th of May and they we will be in Dallas for our great event 444 00:27:14,840 --> 00:27:17,040 there. And of course Juan and Laurent's 445 00:27:17,040 --> 00:27:20,840 workshop is develop your revenue growth management framework in 446 00:27:20,840 --> 00:27:23,320 one day, which is what they're going to help you do. 447 00:27:23,600 --> 00:27:28,120 And also for our members out across the globe. 448 00:27:28,560 --> 00:27:31,960 If you're unable to join us at this conference, we also will 449 00:27:31,960 --> 00:27:33,920 have two conferences later in the year. 450 00:27:34,280 --> 00:27:38,320 We are very happy to be in Las Vegas for our Fall American 451 00:27:38,320 --> 00:27:40,760 conference. Those dates are October 21st 452 00:27:40,760 --> 00:27:45,240 through 24th and for our EMEA for our Europe, Middle East, 453 00:27:45,240 --> 00:27:49,280 Africa conference, we will be in Barcelona from the 2nd to the 454 00:27:49,280 --> 00:27:51,840 5th of December. We look forward to seeing 455 00:27:51,880 --> 00:27:55,120 everyone there and of course Juan and Laurent. 456 00:27:55,560 --> 00:27:58,720 I would encourage everyone who has questions for Laurent and or 457 00:27:58,720 --> 00:28:02,640 for Juan to reach out to them either via LinkedIn or we'll 458 00:28:02,640 --> 00:28:04,880 include ways that you can get in touch with them if you have any 459 00:28:04,880 --> 00:28:07,080 questions. But gentlemen, thank you so much 460 00:28:07,080 --> 00:28:09,800 for your time today. We're looking forward to a great 461 00:28:09,800 --> 00:28:12,000 workshop and of course, I'm looking forward to seeing you 462 00:28:12,000 --> 00:28:14,480 both very soon. So Juan and Laurent, thank you 463 00:28:14,480 --> 00:28:15,800 so much. Thank you, Kevin. 464 00:28:16,520 --> 00:28:18,560 Thank you so much. Kevin, take care. 465 00:28:18,560 --> 00:28:21,880 See you soon, all right. Thanks very much. 466 00:28:22,080 --> 00:28:26,200 And with that, we will have more information about other podcasts 467 00:28:26,200 --> 00:28:29,600 coming up. Thanks everyone for listening to 468 00:28:29,600 --> 00:28:32,960 Let's Talk Pricing and I look forward to seeing everyone again 469 00:28:32,960 --> 00:28:34,080 very soon. Thank you.