Litera Careers

Description

Our Story

Litera, headquartered in Chicago, IL, is a fast-growing software company and one of the leading legal technology suppliers in the world. Serving more than 90% of the world's largest law firms, our software is used by hundreds of thousands of lawyers every day. As a company recognized as one of the best places to work, 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 Role

We are looking for a proven and commercially orientated monetization professional to lead and manage Pricing & Packaging for Litera. The role will involve both running strategic pricing and packaging initiatives to drive revenue growth and overseeing price realization across the business. The role will ensure we enhance customer lifetime value through improved retention, upsell, and cross sell, as we increase new business win rates. The role owns and is accountable for the achievement of the annual price uplift target as aligned with Litera’s growth objectives. The role will report to Litera’s Chief Product Officer and will work closely with Product, Marketing, Finance, and Sales and require close collaboration with the Executive team.

Key Responsibilities & A Day in the Life

• Define and execute a best-practice and scalable framework for how we set price, get price, and monitor price; to include pricing strategy and monetization models by product, strategic cross-portfolio packaging, discount guidance and approval process, and dashboard(s) to observe price increase realization
• Create, prioritize, and manage an inventory of value-based pricing initiatives; to include investigation and determination of alternative business models where necessary to drive value to customer and capture revenue expansion
• Lead the development, testing, and in-life management of value-based pricing, bundling, and packaging propositions for existing and new propositions, including establishing foundational elements and key steps to execute
• For packaging and pricing design of new product launches and future acquisitions; to include pricing and successful commercial integration of new acquisitions
• Work cross-functionally to set list prices and manage price lists, monitoring price achievement, and systematically reviewing as required
• Update packaging & pricing for new features and products as they are developed, as aligned with tiered launch framework
• Manage pricing approval process; monitor intake, compliance, and governance of offer-level pricing
• Support the development of offer and pricing proposals for larger deals with strategic customers
• Work cross-functionally to establish reporting, tooling, and automation to drive program efficacy, price uplift realization, and repeatable scale
• Manage regular pricing performance analyses and provide insights to the executive team and proposed price realization improvement interventions
• Establish consistent monitoring, with action tracking for quick decisions and necessary adjustments to execution plans via dashboard to monitor price Increase at product group level; ensure data consistency in the pricing system and driving further improvements
• Ensure processes and practices are in place to periodically capture and analyze competitive intelligence and relevant customer feedback to optimize price/value fit for key sales plays
• Partner with Marketing to launch pricing promotions, related campaigns, ROI analyses, and development of related calculators and marketing collateral to drive customer acceptance and adoption
• Roll out tools, processes and systems and managing ongoing improvements to create a best-in-class pricing and offer development toolkit for our sales and customer success teams
• Chair Pricing Steering Committee, strategically leading with clarity, consistency, and influence, and bringing updates on ongoing basis regarding backlog, prioritization, and performance as part of a standard governance framework
• Report regularly, proactively, and with a high sense of professionalism and confidence to senior leadership team, executive team, Pricing Steering Committee, and Board of Directors

Role progression

Within 1 month, you will:

• Complete our corporate onboarding process

• Meet the team and learn the nuts and bolts of our business, and where we are going
• Familiarize yourself with our solutions by working with leaders of our business units
• 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
• Have defined the draft framework for how we set price, get price, and monitor price
• Have completed your first cut of inventory of prioritized value-based pricing initiatives

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 leadership on proposed changes, market impact, and market opportunity
• Have established relationships with key leaders across Litera to learn the market, products, needs, and opportunities
• With guidance you will also have completed your first set of pricing and packaging analyses
• Have prepare for and chaired your first Pricing Steering Committee

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 Litera leadership prioritize and make better decisions on our packaging, pricing and discounting strategies
• Define the standard key metrics to track, goals around metrics, and measure success of previous product and market decisions

About you

• Significant experience in building, implementing and realizing pricing strategies in a B2B (and ideally software) environment. Experience in LegalTech a bonus
• 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, making recommendations, and being 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
• Strong analytical and modelling skills, with advanced Excel required. Expertise in other software tools such as Tableau, PowerBI and Salesforce would be a bonus
• Confident and comfortable debating and defending your position and recommendation
• Strong leadership and strategic influencing skills to drive quick progress, unity various stakeholders to a common objective
• Excited to present your ideas and recommendations to the executive team

What sets us apart?

• Be part of leadership team at proven, fast-growing, industry-leading tech company
• Have direct contact and work directly with the executive team
• Work with a team that has a proven track record of successfully executing
• You’ll be challenged and encouraged to broaden your skills
• Participation in management development program
• Your own personal development budget