Eliminating unnecessary discounting can improve margins by over 20%.
Better pricing, less discounting and more effective offerings significantly increase both profits and revenue.
It is important to evaluate the impact of sales promotions on profit because it is possible for promotions to lead to higher sales but lower profits. SPMG has found that roughly 70% of all promotions reported as successes are actually successful.
The principal, the overarching goal of your discounts and promotions should be to boost sales and increase brand recognition failing such SPMG uses discounting evaluation technique and will help you draw a line in the sand and show you how to ‘fire’ unprofitable customers by using tools such as ‘Waterfall Analysis’ to determine what actually goes into your pocket.
Collecting data is easy, what you do with that data is where it gets complicated in discounting evaluation
Should you need the information to implement new pricing strategies or customer insights to drive product, sales or marketing objectives, SPMG delivers the data mining, modeling, and analysis that clarifies the key insights you need to help your business initiatives.
Together our business consultants and analysts have 30+ years of experience working with some of the worlds largest B2B and B2C companies. SPMG data analytics is driven by the curiosity to discover the insights, patterns and opportunities that help companies grow. Speak to our pricing consultant now to know more about discounting evaluation.