Agile pricing capabilities and improved profitability
Whether you are outlining a new product pricing strategy or circumventing a price war, or scouting for an appropriate pricing method, our end-to-end approach enables enterprises to make the most of leading practices and the latest technologies. Backed by a team of experienced and skilled pricing specialists, Standav helps you devise win-win pricing scenarios, enabling you to maximize profits.
Enable transparency and flexibility to the pricing process
Price Analytics is a key component of our 360-degree approach to pricing strategy and provides a wide range of analytical capabilities to identify margin and/or price opportunities, enhance transparency and support all kinds of price related optimizations. Benefit from exemplary flexibility with regards data structure definition, methodic data cleansing, enrichment and load testing, along with features such as Price Waterfalls and comparisons, drag & drop capability to define/modify charts, access to multiple datamarts from one chart, and more.
From analyzing data to identifying pricing opportunities, from product & customer segmentation to measuring KPIs, the cutting-edge architecture of Standav’s Price Analytics offering helps to track pricing actions, simulate and calculate new prices, adding speed and transparency to your pricing process.
Product & Customer Segmentation
Integrating Price f(x) to Salesforce Community Cloud
Integrating Price f(x) to Salesforce Community Cloud Enterprises dependent on partners, distributors, external sales agents etc, when it comes to realizing their sales targets and revenue goals. And, considering the impact pricing has on sales volume & profit margins, it’s vital for enterprises to work closely with its external associates, to envision and build an advanced pricing solution.
The dexterity to deliver optimized prices and better outcomes
With markets always in a state of churn, it’s imperative that your pricing strategy is tuned to auto-correct and ensure revenue growth and profits. This means that your pricing optimization strategy should not only be able to quickly deliver the perfect price but should also facilitate a great buying experience for customers. With digital channels bringing in higher levels of buyer transparency, it’s critical to have a rational, omnichannel pricing strategy that can make split-second price calculations in real-time to deliver competitive pricing.
At Standav, our comprehensive and scalable price strategy ensures price elasticity, competitor benchmarking, win-win pricing, and customer lifecycle value, including upsell & cross-sell, in addition to enabling customer interaction across digital, partner, sales and retail channels.
Price Elasticity & Win-win Pricing
Customer Lifetime Value
The nimbleness to respond to market trends
Rapid digitalization, resulting in increased availability of quality data and improved processing power along with advanced technologies like electronic price tags, have enabled enterprises to employ tactics such as dynamic pricing, value pricing and psychological pricing – changing the dynamics of price modelling.
Backed by our experience in data analytics, your enterprise can leverage insights to segment customers by price sensitivity and connect this intelligence with key parameters like supply & demand, timing and perishability. Price modelling expertise from Standav enables you to discover innovative ways to maximize monetization, significantly reduce waste and effectively balance supply and demand, by being empowered to adjust prices swiftly.
Promotional strategy with more bang for the buck
While promotions have become a staple feature of every sales calendar, indiscriminate use of this pricing technique can adversely impact bottom lines, and the incremental sales not commensurate with the costs for promotion. To maximize the benefit of promotions, it’s important for enterprises to devise a data-driven promotion strategy.
Given the dynamics of the market, arriving at an effective promotion strategy has its share of complexities and conventional techniques don’t make the cut in a world that’s increasingly going digital. An effective promotion strategy will have to be crafted leveraging deep insights offered by data analytics – starting by defining promotion objectives, followed by finalizing the appropriate promotion design, and then successfully executing the plan, and finally completing the cycle by tracking & evaluating data to optimize the promotion strategy.