Fast Price optimization with quick wins to improve pricing, profitability, and sales performance in a dynamic market for existing and new products🚀
Who is it for🙋
Imagine you are working in pricing, marketing, or other relevant functions in your company and want to optimize your pricing and/or improve your expected sales performance for an existing or new product. You also need some quick wins.
The challenge you face⛔
Optimizing Pricing and improving your sales performance are complex processes influenced by many pricing drivers:
Country conditions (inflation, exchange rates, spending capacity, etc)
Market conditions (supply constraints, materials & other costs, competition, etc)
Product characteristics (product variety and features, quality, bundling, etc)
Customer characteristics (customer diversity, customer personas, segmentation, etc)
It is challenging to identify the impact of these factors and set your pricing accordingly based on your experience and simple data analysis. Furthermore, you need results fast and some quick wins to minimize resistance to pricing changes.
The solution💡
Unlike most price optimization models that don’t work well in volatile environments or expect too much from the users in terms of time and expertise, FutureUP’s Predictive AI models take into account the changing country, market, product, and customer conditions and allow the user to generate results quickly, in real-time, and with measured accuracy.
➡️Optimum price suggestions
Identifying the best price across multiple dimensions (countries, markets, time, or other), for various optimization types (revenue, profit, profitability, and market penetration) and optimization conditions (profitability, penetration levels, and other KPIs).
➡️Key pricing drivers identification
Finding the most important pricing drivers with the largest performance impact.
➡️What-if scenarios
For changing macro, market, product, and customer conditions.
The model can leverage all available data:
Historical data (product sales, competitive intelligence, market indicators, macro & demographics indicators, etc.)
Prospective data (pricing research, market research, market trends, macro & demographics trends, etc.)
All these can be combined or used independently as presented in the following indicative example:
Product | Data to use |
Existing product with historical data availability | Historical data |
Existing with limited historical data availability | Historical & Prospective data |
New product | Prospective data |
Quick wins⚡
Our Predictive AI generates multiple quick wins to get started and offer initial evidence about the true impact of pricing
➡️Products below minimum profitability
➡️Hidden pockets of inelasticity
➡️Prices below the supply-demand equilibrium
Dream outcome😀
Boost profitability and sales performance with effortless, real-time price optimization.
Our Predictive AI models do the heavy lifting of data analysis, generating optimum price suggestions per country and market, enabling you to interact effortlessly with intuitive dashboards, including key predictive insights.
Success stories🏆
Check out how our Predictive AI model optimized prices for an existing product resulting to 3x conversion rates and 2x revenue increase. Also, how we used our Predictive AI model to optimize prices for a new product launch leveraging prospective data.
Interested in learning more about AI-Powered Price Optimization and Strategic Forecasting?
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