What is Price Optimization?
Price optimization is ultimately about knowing how your customers perceive value differently across your offerings. By using advanced machine learning approaches, you can develop sophisticated customer segmentation that enables you to price based on the value delivered to your customer. This ability will typically net between 1-3% return on sales to the bottom line.
Price Optimization Insights
By 2022 1/3 of sales organizations will determine that pricing of products and services is mismanaged and begin to invest in new price management software.
Number of B2B companies that could benefit from price optimization solutions
The number of companies that leave money on table as a result of ineffective pricing
Vendavo for Price Optimization
AI Driven Customer Segmentation
Build your customer segmentation models with key dimensions that define your business, such as business units and geographies. Then apply Vendavo’s Artificial Intelligence to determine customer willingness-to-pay. Continuously fine-tune the AI with statistical feedback and safety nets.
Intelligent Deal Guidance for Negotiation
Determine optimal pricing guidance (stretch, target, and floor prices) while identifying and creating customer groups and clusters for managing polices and discounts.
Advanced Pricing Visualization
Pricing data often requires specialized metrics and visualizations, which are not typically found in general purpose business intelligence tools.