By Kirk Jackisch: President, Iris Pricing Solutions As we venture into the second half of 2023, businesses continue to face a range of pricing challenges that require careful navigation and strategic planning – covered in our previous article, The Current State of Pricing. The landscape is influenced by factors such as inflation, interest rates, [...]
Background Our client is a $1 billion revenue Products and Solutions provider, offering customized support to customers across many different industries. With a high-value, solutions-based offering the client had a significant degree of pricing power that was underutilized. The client had already made a significant investment in a segmented pricing strategy to include a [...]
Pricing is a critical aspect of any business, and for Chief Marketing Officers (CMOs), it plays a vital role in the success of a company. A well-crafted pricing strategy can impact the entire marketing mix, and it is essential to understand the importance of pricing for CMOs in today's competitive business landscape. The Underestimated [...]
By: Benjamin Garden, Director of Pricing Analytics In today's hyper-competitive marketplace, businesses are continually seeking new ways to increase revenue and maintain a competitive edge. One approach that has emerged as a promising solution is Price Optimization using AI algorithms. With the ability to analyze vast amounts of data in real time, AI algorithms [...]
Refocusing Your SaaS Strategy Over the past decade, numerous SaaS companies have emerged and experienced success. To achieve this success, SaaS companies have focused on managing three main levers: growth, retention, and monetization. Of these three, growth has been the main priority for SaaS organizations. However, as market and economic conditions change, SaaS companies [...]
Navigating the Ethical Pricing Conundrum Pricing is a crucial aspect of any business, as it determines the profitability of a company and its ability to remain competitive. However, when setting prices, it is important to consider not only economic factors, but also ethical considerations. In this article, we will look at the various ethical [...]
A note from Iris Pricing Solutions President: Kirk Jackisch As we approach the end of 2022, it is clear that pricing leaders will need to navigate a very unpredictable market…perhaps more than ever before. With this uncertainty, leaders must employ resilient, proactive, and competitive pricing strategies. What We Saw Across Industries Almost all companies [...]
About the Device Our client, an established manufacturer of syringes, had developed a prototype digital injection device designed for use in clinical trials. This data-enabled injection device would automatically capture injection data without interfering with the injection device's usability. Specifically, the device would capture the start/stop time, completion and device ID. The target customers [...]
By: Ben Garden, Director of Analytics, Iris Pricing Solutions There are significant benefits to working with a team who has high-level pricing analytical skills and can use your company's data to inform pricing and create new pricing opportunities, especially in the areas of e-commerce and competitive intelligence. Leveraging your data and analytics to make [...]
Price actions are not unique Companies are constantly testing the extent of their pricing power. Faced with rising costs for materials, transportation, and workers, companies are charging more for products from metal fasteners to Oreo cookies. The primary response to inflation is to become more efficient, but inflation is currently so high, that productivity [...]
