How to Raise Prices When Everything Is Getting More Expensive with Jacob Moller Korsgaard

What happens when your costs keep rising, your contracts lock you in, and your customers still expect stability? **Jacob Moller Korsgaard**, Director of Pricing at Danfoss, has spent 15+ years in B2B pricing and leads global pricing for Danfoss Climate Solutions. In this episode, he explains why raising prices during inflation is about much more than adding a percentage to your price list. Jacob breaks down the commercial judgment, timing, contracts, communication, and execution required to raise prices without creating unnecessary disruption in the market.   **Why You Have to Check Out Today's Podcast:** - Learn why annual price reviews are no longer enough when costs can change dramatically in weeks. - Discover how timing, contracts, and distribution channels can make or break a price increase. - See why successful price increases require more than cost recovery. They require commercial judgment and disciplined execution.   ***"We need to be prepared for doing more often price adjustment and we need to focus on the execution part so we implement it efficiently and get our margins secured."*** – Jacob Moller Korsgaard   **Topics Covered** 02:45– The Commercial Judgment Pricing Teams Need. Why pricing teams need to understand customers, channels, segmentation, product management, finance, and IT to make better decisions. 05:00 – Why Annual Price Reviews Are Gone. Jacob explains why B2B companies need to react faster to cost changes while avoiding market disruption. 07:00 – How Often Should You Raise Prices?The case for an agreed pricing calendar instead of constantly recalculating prices every time costs move. 09:00 – The Contract Problem Nobody Can Ignore. Why price increases fail when contracts lock in pricing for months or years, and why improving contract flexibility matters. 11:00 – Is Inflation Just an Excuse for Cost-Plus Pricing?Jacob explains how rising costs can eventually affect customer value perception and why cost changes still need to connect to value-based pricing. 13:30 – Should You Lead the Price Increase? Why competitive dynamics can create an opportunity to move first, especially when the entire market is facing similar cost pressures. 15:30 – How to Communicate a Price Increase. Jacob shares why Danfoss aims for direct, honest, and consistent communication, while allowing local markets to adapt the message. 19:00 – What AI Can and Can't Do for Pricing. Jacob explains how Danfoss is using AI, analytics, and pricing software while emphasizing the importance of commercial judgment and good data. 21:00 – The Pricing Advice Jacob Wants You to Act On. Prepare for more frequent price adjustments, strengthen execution, secure your margins, and build the processes and tools needed to implement increases efficiently.   **Key Takeaways:** *"We need to be prepared for doing more often price adjustment and we need to focus on the execution part."* – Jacob Moller Korsgaard *"If we know that 50% of our revenue is bound in contracts, we cannot change them."* – Jacob Moller Korsgaard    **Connect with Jacob Moller Korsgaard:** - LinkedIn: https://www.linkedin.com/in/jacobmollerkorsgaard/   **Connect with Mark Stiving:** - LinkedIn: https://www.linkedin.com/in/stiving/ - Email: mark@impactpricing.com