From a global pandemic to rising inflation, political turmoil, land wars, and massive supply chain breakdowns, our world has seen more than it’s fair share of external factors impacting business today. In response, organizations are looking to technology as a driver of process efficiency, customer satisfaction, and business growth. One key solution area making a big, bottom-line difference is price optimization. Vendavo Pricing Evangelist, Mitch Lee explains what it is, why it’s important, and how to get your pricing strategy started in Solutions Review Magazine.
A successful price optimization strategy will vary from company to company. Still, the core ingredients will always include a strong understanding of your customer base, access to data, and the utilization of real-time insights to ensure teams don’t have to rely on guesswork or hunches.”MITCH LEE, PROFIT EVANGELIST