How CEOs benefit from Sniffie
Secure profits by creating a united pricing strategy.
Carve your pricing strategy into stone and get your team to follow it. Understanding the market is always the key to success. Understanding also how to price your products will help your team to keep the pricing strategy live according to what you have outlined with the management team.
Make sure your team works together and keeps you updated with meaningful reports about your pricing. Keep it simple; use easy and comprehensive views on price strategy execution with the possibility to go in depth with data, if you wish.
Keep your pricing strategy in tact
Management needs to implement knowledge.
Benefits of pricing should be clear or at least somewhat understandable, if you are a leader. Although pricing is a complex issue, it will yield strong benefits for overall profitability of the company, if you do it right. You may have heard the term ”price optimization” in some discussions. In eCommerce it is not a hype word, but rather a reality. So what does price optimization include and what are the benefits of well implemented price optimization?
Make price optimization your secret weapon
In its simplest terms, price optimization is using mathematical analysis to see how your customers will react to different prices and making the best possible outcome for your profitability. The analytics are naturally dependent on the quality and quantity of the data.
Consumers are taking more and more control on what they buy. There are a few main factors that have increased the power of consumers. Firstly, the growth of mobile shopping means power shifts to consumers. Secondly, faster logistics are a norm today – 1 hour delivery is already a reality. To top it off, big commerce players fuel price competition and make retailer loyalty a distant memory.
So, wouldn’t it be great if instead of trying to guess the right price for your buyers, you could optimize the prices according to their purchase behavior? Price optimization turns your pricing into a meaningful communication and pulls people towards your company by offering them what they want with the right price. It’s no miracle that we believe in market based pricing. Ecommerce, in its purest form, is volatile. With Sniffie’s Pricing Suite your team is able to take advantage of the data that is needed to optimize pricing based on all critical factors.”
Why choose Sniffie's Pricing Platform?
This is how management benefits from using Sniffie.
Let us present you some of key benefits why you should use Sniffie to make your daily working life easier.
1. Make your team aligned behind the pricing strategy
2. Implement and monitor the pricing strategy
3. Get team motivated to use one platform for all pricing actions