As the economy slowly reopens in Canada, many businesses must recover 3-4 months of lost sales and a customer base that also faced financial hardships and are more conscious about their purchases and choice of sellers. Your pricing strategy can be key in turning this setback into a win.
John Zubak talks with Paula Presta (CPA, CA Partner at KPMG) to go into the particulars of margins and how to protect and foster sales without compromising bottom lines.
Business intelligence, strategy and tactics show up in this talk, from the need to understand your fixed costs and margin levels to the use of the pricing strategies to drive customers.
John and Paula also discuss supplier relations, understanding concessions (wage subsidies, mortgage deferrals) and applying them to your game plan, a thorough review of fixed costs (which ones make sense now?) and others.
However, take a closer look at one of the essential topics in the video: VALUE. Learn how to bring suppliers to the conversation, how to offer meaningful add-ons, so you don’t have to embark on a race towards zero with your prices, and truly understand the costs of added value to customers, to protect your margins and create a sustainable structure for your business.
Here at Zubak & Associates, we embrace innovation in all forms and apply it safely and in a user-friendly, profitable way. If you wish to discuss how your company can take the next steps towards sales growth and digital transformation, CONTACT US. To see more blog posts, click here BLOG PAGE. To know more about Paula Presta, view her on LinkedIn PAULA PRESTA
Students are facing challenges and opportunities as a result of Covid-19. What is the role of universities in this scenario? John Zubak talks to Mike Henry (Thompson Rivers University) to explore the options.