5 Tips to Successfully Manage Your Remote Pricing Team.There’s no doubt there are mesmerizing benefits to having virtual teams. A recent study even revealed that 85 percent of businesses believe the flexible working policies of telecommuting made their remote staff more productive compared to when they were working from the office.
Other top benefits of remote working stated by employers are cost-effectiveness, access to top talent anywhere, and more. While these benefits certainly are enticing, they don’t come cheap.
There are myriad of challenges companies encounter in their bid to cultivate high-performing remote teams. Another research confirmed this – that as many as 84% of virtual teams struggle with communication issues (especially at the onset of the pandemic).
88% faced time zone differences, 80% experienced problems relating to timelessness and responsiveness among other issues. So if you are finding it hard to effectively manage your remote pricing team, you’re not alone.
Just as many other high-flying virtual teams were able to scale these hurdles and come out tops. There are also ways you can help your pricing team effectively navigate the many hurdles they are facing so they can become one of the top-performing teams.
This article aims to help you achieve that by showing you 5 proven ways to manage your remote pricing team.
1. Set ground rules for better team communication
Since your team members don’t share a similar physical location, establishing ground rules such as how, when and the required number of times to keep in touch will help everyone stay up-to-date.
For instance, Trello or Slack may be used for everyday messages between staff while video conferencing platforms can be used for the team’s weekly meetings.
2. Use cloud-based platforms for your big data
In the simplest terms, big data refers to all the data generated by your business. And cloud-based platforms provide a virtual environment where you can store and access those data over the internet rather than on a physical server.
Transferring your team’s work data to a cloud-based app or platform is the best way to give every team member 24/7 access to vital information they need to do the job faster.
If you’re concerned about security, cloud computing platforms have great cybersecurity features built in them. Most even allow users to add their extra security measures.
3. Create a pricing committee to constantly review company’s pricing strategy
For your pricing strategy to continue to remain relevant, it needs to keep ahead of current trends. That’s why you need to have a specific group within your team, whose sole purpose above every other thing should be to keep their eyes full-time on pricing.
This group needs to constantly discuss tactical and strategic topics relating to your pricing plan. They also should continually evaluate all necessary data including customer demographics that would help the company formulate the best pricing plan.
4. Periodically invite a pricing expert to educate, access & strengthen your team
If world-class athletes can understand the importance of always having good trainers and coaches (we are not talking about doctors here) to help keep their performance in tip-top shape, then employers or business managers should take a page from that.
Yes, we understand your pricing staff is top-notch and their output may be out of this world. But they still need to be “coached” and “accessed” from time to time so they don’t become yesterday’s hero.
5. Automate as much as you can
What comes to many people’s mind when they hear of automation is a production floor full of busy robotic devices. This image is only partially correct as automation also include some commonplace softwareware applications businesses use to take care of their business processes.
By automating some of your team’s repetitive business operations with the aid of a software, you and the team should have a bit more time to concentrate on more important or sensitive tasks.
Technology & organization will help to boost profit. The new normal shows up with a set of challenges but also with numerous opprtunities collaborate effectively & efficiently.
If you want more information on how to manage your pricing team in the new normaly, don’t hesitate to contact us.
5 Tips to Successfully Manage Your Remote Pricing Team