23 November, 2022
Are you struggling with how you set prices for black Friday? This is what you need to think about when…
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At Different Price Points.
Increase Revenue. Increase Profit.
Imagine that by changing the price your sales volume remain but your revenue increase – or even better both sales and revenue increase. By using our cutting edge pricing software, we identify the product features and market segments that generate the highest willingness-to-pay.
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Why pricing matters
Precise and actionable insights.
You will know how demand for a product or a service is affected by the price you charge; understand the price different customer profiles are willing to pay; understand how different features and messages affects the price you can charge. You will know the price that will generate the highest sales and revenue for your business.
Quick and outstanding value.
We utilise our pricing intelligence software that allows for fast and accurate results. Ensuring you do not have to wait around for outdated results.
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Hundreds of small and medium-sized businesses have already selected us to find the right price and increase sales and revenue.
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17 November, 2022
Sometimes, failing to set the right price can translate into lower sales volumes and lower profit margins. Other times, the…
11 November, 2022
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What are pricing strategies?
In general, a pricing strategy is a company’s way to set the price on a commodity or service, using some sort of reasoning. A pricing strategy can vary across industries and countries. A successful pricing strategy maximizes profitability and sales, but a pricing strategy may also be used to successfully defend a market share or by creating a competitive advantage.
At Ategna, we correlate the ‘willingness to pay measure’ with market demographics or market verticals, so you will know what customers have the highest willingness to pay. Then correlate the willingness to pay measure with your product or service features, with marketing messages and even your competition. The end result is that you know how to most effectively market your company’s products or services to the most desirables customers.
Grow profits through the best pricing strategy consultants
A lot of times companies are afraid of setting too high of a prices on their goods or services. Rightly so, we all know that if people cannot afford the product, well they won’t buy your product. What you might not know is that if the price is too low, people are also discouraged from buying your product. Why? Well, when something is cheap we are signalling low quality in the product, thus put off a majority of people. Mind you the ones your are putting off are most likely the loyal customers.
Hopefully it’s clear what can happen if you price is too high or too low, but then the more difficult question is ‘but what’s the right price then?’. That’s where we at Atenga come in. In just a few years we have created a unique position on the market with our very own state of the art pricing algorithm. Our pricing strategy will be tailored to your industry and it doesn’t matter if you operate in a B2B or B2C environment.
If I lower the price, will my revenue increase?
This may sound counter intuitive. But yes. In some cases we have found that by lowering the price you can gain a significant upswing in sales. Meaning your company is increasing their market share. This might not be applicable to all businesses, the cost cannot exceed the price, of course your business still needs to make a profit and have a good margin.
What other insights can I get from a pricing consultant's strategy?
A good pricing consultant and pricing strategy will provide you with other valuable insights. Your business might find marketing opportunities you previously had not envisioned, or profitability in a new feature. The models we draw from the data collected will give a great analysis of your particular industry. Pricing strategies are a great way to segment your customers, both for a b2c or a b2b perspective, and gain a competitive advantage over your competition. Because when we look at your company, we don’t just look at your customers but at your entire industry.
How long is the turnaround on pricing consulting?
Usually we have the results within 4 weeks. The turnaround more often depends on how long it takes for your business to work with our pricing consultants.
Faster
Niched
What if my industry is unique and difficult to relate to other industries? Can I still get a competitive pricing strategy?
We have yet to discover a unique industry, that is so niched we have not been able to give them any pricing strategies. Of course, consumer goods differ, both companies and customers have different needs according to the business. But many times its the organizations that are unique, not your industry. But to fully understand and determine your organizations specific needs and growth goals our pricing consultants will sit down with you and discuss what you are looking to get out of your pricing strategy.
What does the pricing strategy project process look like?
From the start, our pricing consultants will listen to your companies needs and goals. Nothing will kick off until we undertand the client goals. After getting an insight into your business and we have had discussions related to your obstacles and growth potential we will design our research. Getting the research questions right are fundamental to being able to draw accurate conclusions about the data. As we are leading the research we will continuously bounce back to you and your various teams.
Getting the pricing strategy and its recommendations
After we have agreed on the proposed research questions we go out and gather the data. Using technology we have a vast reach to get in touch with e customers that matter the most for your organization. Once the research project is concluded we will present a price analysis that will show your revenue potential and how you can best maximize your profitability. In other words, our pricing strategy for your company.
In our findings we will give pricing recommendations that will effect your over all sales. The findings might give us insights that tell us your prices are too high or that your prices are too low. It will also show us the over all market and at what price you can achieve the biggest market share. Something else that is featured in the findings are consumer demands segmented by various verticals, such as location. Bottom line is that you can slice and dice the data in many ways so that you can get the willingness to pay for any customer.
Using the findings in other teams and for management
As in many projects there are often a various amount of stakeholders. Whenever you create a pricing strategy the sales team is one of the key stakeholders across all industries. But the key analytics found in the data can also be applied to other teams. We have found that not only the company leaders or sales teams benefit from the findings, but these kinds of insights are also important for the marketing team when they are creating campaigns and communicating the product or service value.
Talk to a pricing expert & develop a top of the line pricing strategy.
By reaching out to Atenga Insight you will be provided with top of the line pricing strategy consulting services. You’ll get to talk to a pricing advisor who will tailor the strategy most appropriate to your needs. After that the pricing consultant will conduct research and then present you with their findings, and our unique ‘price walls’.
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