Kyle
Although it may not seem like it, pricing products and services is one of the hardest things that a business owner has to do. They of course need to make money and make a profit but at the same time, it’s a scary thought to most that a bad price could leave product sitting on the shelves for an indefinite amount of time. There is a huge problem with the way prices are calculated these days, and that just shouldn’t be in the 21st century.
Former Boston based Googler (Xoogler) Patrick Campbell has set out to find a way to more accurately and more effectively price products. As he tells us in the interview below, until now business owners have relied on weak data, archaic practices and even “gut feelings” when it comes to pricing. Price Intelligently’s technology is built on a scientifically proven methodology that leverages existing and potential customers to determine a products price.
How important is pricing? Campbell tells us that a 1% improvement on price correlates to an average increase of profits of 12.5%.
Check out our interview with Campbell below: