Pricing Analytics
Pricing Analytics enables companies, across all industries, to dramatically improve profitability & market share by defining optimal prices & pricing strategy. Iris Pricing Solutions leverages data to understand what drives your customers’ buying decisions and integrates this knowledge to meet your pricing needs.
Iris Pricing Solutions Applies Pricing Analytics to:
- Optimize the Trade-Off Between Price, Volume and Profit
- Identify Quick Wins
- Develop High Impact Price Strategies
- Increase the Confidence of the Sales Force
Driving Business Results with Pricing Analytics
Price Optimization
Examining existing market data, pricing optimization engines are developed to predict volumes based on changes in price and other attributes. A customized pricing simulator enables clients to run scenarios to predict market share/revenue/margin at specific price points. With this combination, your team will be able to maximize revenues/market share across various brands, SKU’s and/or bundles.
Optimization for:
- Price and Volume
- Product and Customer Prices
- Product Portfolios (Across Product Lines, Brands etc.)
- Channels
Results: Building a pricing simulation tool with a 94% incidence rate yielded $3 million in profit by establishing effective pricing promotions
Micro-Segmentation
Iris Pricing Solutions focuses on grouping similar customers/products with related behaviors so that clients can manage customer/product profiles more effectively. This micro-segmentation contains information regarding the margins of customer and product segments which are the foundation for the pricing structure. The alignment and maintenance of these pricing structures lead to measurable increases in revenue and profitability.
Solutions For:
- Pricing Guidance for the Sales Force
- Establishing a Value-Based Pricing Structure
- Improved Competitive Pricing
Result: It is not unusual for companies to experience a 2-3% increase in annual bottom line improvements (EBITDA)
Quick-Wins
Most companies have significant opportunities for immediate pricing improvement waiting to be identified within their data. Quick win opportunities are typically identified as pricing leakages or underpriced products.
Iris Pricing Solutions Generates Results Using:
- Price Waterfalls
- Price Dispersion Charts
- Identifying Profit Leakages from Discounting
- Determining Untapped Pricing Power
Results: With quick-wins ROI can be realized only a few months after implementation. Read how 10 times ROI was achieved in 12 months with quick-wins
Pricing Systems & Tools
Our clients need Pricing Systems & Tools to execute pricing on a repeatable basis. Iris Pricing Solutions understands the roadblocks many organizations face. Our deep expertise in Pricing Tools ensures you avoid common pitfalls & achieve a high ROI
Iris Pricing Solutions builds customized tools, including:
- Pricing Guidance for Sales Teams
- Price & Promotional Planning Tools
- Tools for Price Forecasting in Global Markets
Learn more about Iris Pricing Solutions’ expert tool building services.
Pricing Software and Tools
Iris Pricing Solutions’ pricing consultants deliver customized solutions to help organizations achieve a payback of at least 10:1 on their investment.
Pricing Analytics Articles
Power of Pricing Analytics in Retail and E-Tail Decision Making GalleryPower of Pricing Analytics in Retail and E-Tail Decision Making
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Contact Us for a Pricing Analytics Project
Iris Pricing Solutions is one of the worlds’ leading pricing consultancy firms. We are dedicated to helping clients tackle their specific pricing challenges and dramatially grow profitability. Our consultants have extensive experience in B2B and B2C markets within a wide range of industries.
For more information about our services or to get in touch with one of our consultants directly please contact our global headquarters.