CIL launches new pricing practice and appoints Mike Gorham as Pricing Director
CIL Management Consultants has launched a new pricing practice and appointed Mike Gorham as Pricing Director, as it continues to expand its value creation services and support mid-sized, high growth businesses.
In an international context of great uncertainties – from macroeconomic challenges linked to inflation and supply chain disruption – the new pricing practice will help agile and fast-growing businesses take advantage of pricing optimisation strategies that are usually the domain of large corporations.
Mike Gorham brings a mix of consulting and corporate experience to the team. He has worked in SMEs and major corporates as well as being an Executive in private equity backed portfolio businesses, experiencing how pricing works at different scales in different industries. His previous positions include Marketing & Strategy Director for Lafarge, and Business Development Director for A-Gas.
Gorham, comments, “pricing optimisation has traditionally been the preserve of larger companies, typically billion-pound listed companies. With this new service, CIL is bringing that expertise and support to mid-market businesses. We see this as a great opportunity for growth businesses worldwide, as they’re hungry to find ways to increase revenues and have the agility to capture substantial gains within months. This service can bolster their capabilities to achieve from 5 to 10% of baseline revenue. And in some cases, much more.”
With the UK, Europe and the US seeing high levels of inflation, most companies don’t have the experience of recovering from cost inflation, or perhaps they are not used to having to put forward large or frequent price increases. CIL’s pricing capability allows businesses to identify what is going to work best in their market, based on rigorous customer research and deep data analysis.
“Inflation really muddies the pricing picture. It can make pricing strategies more complex but is an opportunity for the agile. Businesses put a huge amount of effort into creating value for customers, like developing products to create new revenue streams, but typically much less effort into ensuring that they capture their fair share of this growth. Optimising pricing drops value straight to the bottom line without major R&D investment, lengthy development cycles or regulatory approval.”
Commenting on his appointment, Gorham adds, “I’m delighted to be joining such an intelligent and motivated team and taking CIL’s excellent pricing capabilities to a new level. We are already seeing benefits for our clients and there’s so much more opportunity out there for others to benefit from.”
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