What Do Platform Pricing Consultants Do?
Like other businesses, platform businesses have faced challenges ranging from reduction of transaction costs, governance, regulatory constraints, technological disruptions, and growth related challenges as well as obtaining a competitive edge. But most of all, platform pricing faces a major challenge that calls for expert intervention and advice to guide on the pros and cons of pricing strategies.
The Platform Pricing consultant helps platform businesses to set a pricing model that supports business strategic objectives. In essence, he helps with value creation by building trust. By considering the varying participants behaviors, he strategically sets pricing models that offer consideration for the varying users. He determines who to charge and the pricing structures to use.
Most In-Demand Services of Platform Pricing Consultants
Why Hire Platform Pricing Consultants?
Platform businesses need to hire the services of Platform Pricing consultants in order to attain the following:
Subscription Based Pricing: Businesses may face the challenge of determining a moderate price that will suit their customers. A consultant uses customer surveys to obtain information from customers. This information is useful in determining an optimum price that covers costs as well as making customers feel that they have received value for money.
Offer Design Management: In order to enhance users’ quality of life, the consultant uses the available processes and strategies to foster creativity and to make products that are effectively designed. He helps in reimagining your offer designs that improve your company performance top lines.
Peer Pricing: Businesses are increasingly pressured across sales territories. Pricing pressure may emanate from sales departments independently setting their own prices based on a positive profit and loss position. The consultant helps to push your sales force performance by benchmarking their achieved prices against best-case scenarios. The consultant uses discounting matrices that eliminates price negotiations, synchronizes terms and conditions and applies floor prices, and implements a peer pricing solution that motivates targets to make purchase decisions.
Customized Solutions: Using the many years experience working on platform pricing, the expert may advise to offer different prices depending on customer preferences and behaviors. In some cases, he may advise a reduced price and at the same time make a profit. He uses data from customer data cards and based on the demographic factors, he sets customized prices that suit the different customers’ backgrounds.
B2B Pricing Strategy: The Platform Pricing consultant helps to set prices on products and services that companies sell to other businesses. He determines and establishes goals and objectives for B2B pricing. The consultant evaluates and tests, assesses personas, uses correct value metrics, listens to customers, to set the right price. He is always on the lookout for changes in these factors that may affect the pricing strategy. He employs effective marketing strategies to determine the right price.
Effective Data Usage: Properly managed data may pave the way for better business. Data can only be useful if its movement is optimized. Data, if managed well, helps users to improve productivity, and it makes re-usage easy. The Platform Pricing consultant helps to leverage on existing data gathered by your organization to give meaningful reports that will support decision making.
Hiring Platform Pricing Consultants through Consultport is one of the effective steps you’ll take to improve your platform pricing requirements.
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