HBM’s commercial and finance teams came together in St. Louis for a Pricing Summit earlier this week. The Pricing Summit brought together our CEOs and our commercial and financial talent across the portfolio to accomplish several key objectives:
- Share best practices across our companies around common challenges and opportunities to optimize pricing for long-term success
- Examine tools that support pricing levels which align with the value we provide to our customers
- Create a commercial network for on-going sharing and learning
- Enhance knowledge and understanding of other businesses within HBM
The event kicked off with a networking and dinner reception and opening remarks from HBM CEO Andy Fincher, where he emphasized the importance of sharing ideas across a wide range of markets. During the pricing summit program, attendees had the opportunity to hear from HBM’s Vice Chairman Mike DeCola as well as our portfolio company CEOs to learn about pricing philosophies across a diverse set of businesses. Within HBM’s portfolio of companies – regardless of whether the business is an established market leader or an emerging player in a fragmented space – pricing is a key element of our overall business strategy. Mississippi Lime’s VP of Sales and Marketing, Dave Venhaus shared how that company has taken a disciplined and rigorous approach to pricing over the past 20 years and how doing so has helped Mississippi Lime achieve their strategic objectives.
In the afternoon, the group broke out in cross-company teams to share strategies and tactics on pricing and customer engagement. The afternoon concluded with the attendees committing to taking away some new tools and best practices in pricing when they return to their organization.