Our pricing research process.
Borne from actual business experience, we developed a unique method for pricing research that allows us to accurately predict your sales volume, revenue, and profits at different prices. We conduct online surveys and have developed AI software called Predictive Sales Engine™ to analyze the data captured in the survey. We also found traditional methods to measure willingness to pay inaccurate and developed our own called Predictive Sales Analytics™. The method works just as well in B2B or B2C markets. With detailed segmentation, we can recommend optimal customer targeting with the optimal product or service, optimal marketing, and the optimal price. The process is described below.
Research design.
From an in-depth understanding of your product or service and your market and your customers, we will develop the research design. This is the custom developed instrument we use to measure willingness to pay in your market. You are in control and will approve the design before it is distributed to individuals in your B2B or B2C market. Images and video can be used in the research design to describe your product or service.
Distribution.
To attract respondents, we use one or several panel companies. These companies have access to individuals who are willing to take on-line surveys. There are panel companies with a generic panel, and panel companies with access to individuals in specific industries and with specific titles.
Computer analysis.
We developed software that uses Artificial Intelligence to analyze the data captured by the research instrument. This is called a Predicted Sales and Segmentation Engine; we can accurately predict sales at different prices and advice what customer segment leads to your highest sales volume at the highest, and most profitable, prices.
Human interpretation.
To the data generated by the Predicted Sales and Segmentation Engine we add interpretation and advice developed by experienced business people. Advice and recommendations that are intensely practical and that you can implement already the same day!
What you will get.
You will know the profile of the most desirable customer. Those who will drive the highest sales volume at the most profitable prices; you will know the features and benefits that increases willingness to buy and to pay; you will know the marketing message, the marketing channels, the sales channels and sales methods that drive the highest sales volume at the optimum prices. And, you will know the right pricing strategy as well precise pricing levels.
Results.
Typical result are 25% - 40% increase in gross profits and a doubling of sales growth!