Director of Pricing and Commercial Strategy at Litera
Litera, headquartered in Chicago, IL, is a fast-growing software company and one of the leading legal technology suppliers in the world. Serving over 90% of the world's largest law firms, our software is used by hundreds of thousands of lawyers every day. As a company recently selected for Crain's Best Places to Work in Chicago, we believe professional development, rewards programs, open communication, and transparent leadership all contribute to a unique and open work environment. Our employees are driven, energetic, passionate, and have the ability to make a direct impact on the future of the company.
The Director of Pricing and Commercial Strategy will contribute to our growing and innovative product team to sharpen our view of and maximize returns of opportunities in the marketplace. The Director of Pricing and Commercial Strategy will examine the impact of product and pricing changes in the market from a monetary standpoint to quantify the value, size of the opportunity, returns, and make recommendations to commercial and go-to market strategies.
A day in the life
- Strategize with product management leadership to understand how product innovations, changes, new products, and acquisitions can impact the market from a monetary standpoint.
- Create systems and use existing data sources and analytic tools (Salesforce, PowerBI, advanced Excel capabilities, Tableau) to collect data, analyze, and provide insights on the impact of events such as acquisitions, new products, bundling, value adds through innovation, and competitor changes.
- Run studies and iteratively experiment with different commercial, pricing, and go-to market strategies to find ways to maximizing returns while influencing demand.
- Define key metrics, establish targets, and measure success of product and market decisions.
- In collaboration with product leaders, provide insights and commercial recommendations of priority of changes, strategy, and entry to market.
- Provide on demand business intelligence of opportunity, addressable market, whitespace, and price variance to executive leadership and the board.
- Proactively identify and resolve Sales and Customer Success commercial issues.
- Become the go-to partner for the broader team (sales, Customer Success, finance, etc.) to develop new systems, process improvements, and insights around commercial and market impacts.
Within 1 month, you will:
- Complete our product and strategy onboarding process.
- Meet your team and learn the nuts and bolts of our business, and where we are going.
- Familiarize yourself with our solutions by working with product management leaders.
- Start to review market, pricing, and commercial data available.
- Access key data analytics systems and begin to learn what information is available and what it means.
Within 3 months, you will:
- Have a good understanding of the value Litera provides customers, and how that value can be extended to other markets.
- Collaborate regularly with product leadership on proposed changes, market impact, and market opportunity.
- Provide updates and key insights around TAM, whitespace, pricing, and product P&Ls.
- Begin to establish relationships with other teams (Sales, Customer Success, Finance, etc.) to learn their processes, needs, and begin to brainstorm how you can make changes to help.
Within 6 months, you will:
- Established many of your own processes, and update/refine existing ones.
- Create new data repositories and/or views to summarize pricing and market data.
- Experiment and run studies around different options to price, bundle, and approach the market.
- Provide key insights and information to help product leadership prioritize and make better decisions on product strategy.
- Provide regular updates to the executive teams and the board on current state of market impact, addressable market, and price performance.
- Provide key recommendations around pricing, bundling, and go-to market to maximize commercial impact and demand.
- Define key metrics to track, goals around metrics, and measure success of previous product and market decisions.
- You are curious and have the desire to get your hands dirty to discover, solve problems, and derive value.
- You are not afraid of diving in independently, experimenting and failing, debating pros and cons of your and other ideas, make recommendations, and be able to defend your position.
- Enjoys digging into data to derive information and trends.
- Not afraid to use and/or learn a variety of technology platforms to help create information, trends, and value.
- Passionate about maximizing value, providing strategies to do so, and measuring success.
- 5+ year's experience focusing on financial, pricing, and customer analysis with experience in some or all of the following data platforms:
- Advanced analytics features of Excel
- Confident and comfortable debating and defending your position and recommendation.
- Excited to present your ideas and recommendations to executive and board teams.