4 Things You Must Know About Pricing Analytics

You’ve probably heard it by now, data is the new oil.  Organisations are increasingly turning to data and its cousin, analytics, to find actionable insights that will give them the upper hand in a competitive market.

But how to get beyond the hype as the best analytics are only as good as the decision-making process it feeds into?

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How Does Competition Impact Your Pricing Strategy?

If getting the right price level in place isn’t hard enough, one thing often lost in the discussion is the impact of the competition.  Whilst this makes sense – after all very few organisations have a monopoly – there is a fine line between paranoia and ambivalence when it comes to considering competitive forces in pricing decisions.

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How This Online Retailer Tackles Price Competitiveness

Customers nowadays expect not only personalised experiences, fast and reliable service, but also the best pricing for the products they’re interested in buying. Knowing your customer and what drives their purchasing habits is important.

Everten Online, Kitchenware Online Retailer, spoke to CMO about how they exceed customer’s expectations.

“Being an online store, you lose that face-to-face with customers, and we really try to go the extra mile by helping our customers and giving our customers good advice when they call. We have very knowledgeable customer service team,” he says.

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