PROS best-kept secret success stories
|
7
New dynamic pricing capabilities
Before partnering with PROS, the teams at Land
O'Lakes didn't have the ability to make sense of
their data to set optimal prices for their products.
PROS made it possible to drop real-time analytics
and insights directly into their CPQ process,
enabling more dynamic pricing capabilities:
• Elasticity measurements improve pricing responsiveness:
By measuring the degree to which the demand for their products
changes in response to price changes, the sales team can now
gauge how sensitive customers are to price adjustments, so they
can optimize prices for maximum profitability.
• Banding offers customers options that match their budgets:
By analyzing customer perception of value and competitor pricing,
the team can now "band" products together at specific price points
or within a range. This allows customers to select the grouping that
will deliver the most value according to their needs and budget,
while also maximizing revenue for Land O'Lakes.
• Promotions optimization helps serve up the right promotion,
every time: With upwards of 120 different promotions at any given
time, the team previously had difficultly deciding which promotion
to offer which dealer. With PROS, the sales team can serve
promotions based on segmentation, so they know the prices
they're offering are right for that specific customer and have been
optimized for profitability.
Dynamic pricing Dynamic pricing is
helping us set more
competitive prices!
I need to get this intel back to headquarters!
