24 January, 2023
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Define your optimal price point
Predict sales & profit 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 Atenga Insights cutting edge pricing software, Predictive Demand Engine, we identify the product features and market segments that generate the highest willingness-to-pay for your products and services.
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 Ensuring you do not have to wait around for outdated results.
Escort
“With a new product category launch imminent, Atenga Insights told us how to price the entire family of products for maximum profitability and provided solid insights on where to focus our marketing, even outside our normal core market.”
Telge Energi
"Atenga Insights has given us precise suggestions on how we can use pricing to increase both revenue and profitability. The report highlighted the key points in a simple and clear way. "
Tripadvisor Business Listings
“The project gave us the hard data we needed to bundle our new products along the lines of our customers' purchase preferences and willingness to pay.”
DigitalChalk
“Our revenue for the first 4 months was up 86%. Our new accounts are up 38%. Atenga Insights was a big help!”
Let us assist you with your pricing work.
At Atenga Insights, we provide pricing consultants with the expertise and resources they need to help you maximize your profits. Our pricing consultants have experience in a variety of industries and can provide tailored solutions to fit your unique needs. We understand the importance of staying competitive in today’s market, and our pricing consultants are here to help you do just that. With Atenga Insights, you can trust that you’ll get the best advice and support from our pricing experts.
Trusted by forward looking companies across the globe
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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How does price consultants achieve excellence?
Price consultants are professionals who help organizations develop pricing strategies to maximize profits. They analyze the cost of goods and services, customer demand, and market trends to help companies set prices that will maximize their revenues. Additionally, they also assess the willingness to pay of customers to ensure that prices are set at a level that will generate the most profit while still being attractive to customers.
Price consultants also help organizations understand the impacts of pricing changes on their customer base, profitability, and overall market position. They use data-driven insights to create pricing models that help companies make informed decisions about their pricing strategy. Price consultants help organizations understand the effects of market forces on their pricing, enabling them to remain competitive in their industry while also taking into account the willingness to pay of their customers. With the help of a price consultant, organizations can ensure that their products and services are priced right to maximize their profits.
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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.
What makes your pricing expertise and pricing tools so much faster?
As we live in a digital world there is little surprise we have developed our very own pricing software. This software has a power over existing pricing tools since it was developed by industry expertise. By using this tool, we help our clients with their pricing and achieving more value in their company. So the fast turnaround really boils down to our unique algorithm and pricing tool.
The other pricing solutions out there are good, and we love that people are starting to think more about pricing, realising that there is a potential to create more value for your business. But we are firm believers that your pricing solutions are better because of the long expertise, skills and specialisation we have gathered throughout the years.
Why should I use a niched pricing consultants rather than consulting firms?
Because we are specialised in prices, of course consulting firms would give you knowledge on pricing, but not as granular data as we offer. That is our unique price walls. For a consultancy might give you a good range on the price, our algorithm will provide specific price walls, where you can immediately see a difference in your goods or service demand.
Giving you the optimal pricing mark, but also several other pricing points. In addition to that, our pricing processes takes but a fraction of the time as any big consultancy, sometimes they have a turnaround of 6 months, but by then your data is already redundant.
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 it’s 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.
Pricing Research: Understanding the Value of Your Product or Service
Pricing research is an integral part of the product or service development process, allowing businesses to determine the most appropriate and profitable pricing for their offerings. By studying market trends, customer behaviors, and competitor strategies, businesses can establish a pricing structure that maximizes revenue and minimizes customer dissatisfaction. This article provides an overview of pricing research and its importance for businesses.
The goal of pricing research is to accurately determine the value of a product or service. This involves researching the current market conditions, understanding customer needs and preferences, and assessing competitor strategies. With this information, businesses can establish the right price point for their product or service.
How to conduct pricing research?
When conducting pricing research, businesses should consider several factors. First, they should analyze customer needs and preferences, as well as the market conditions. This will help them determine the optimal pricing structure for their product or service. They should also examine their competitors’ pricing strategies and identify potential opportunities to differentiate their own product or service. Additionally, businesses should consider the cost of production and distribution when establishing a price point.
In addition to understanding customer needs and preferences, businesses should also analyze the impact of their pricing decisions on their bottom line. They should also measure their customers’ willingness to pay, as this can help them determine the price point that will maximize their profits. Ultimately, the best pricing research involves an in-depth analysis of customer needs, competitor pricing strategies, cost of production and distribution, and willingness to pay.
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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