Having a deep understanding of profit margins and being able to leverage those insights quickly into your promotion criteria, however complex, without affecting your bottom line are the keys to profitable discounting
With PromotionManager, you can publish your promotions and update your pricing fast to all of your external systems, including e-commerce and ERP
Life can get complex, pricing even more so. When you are determining the structure of your promotional pricing, it is not just a case of making generous offers to win the sale. Having a deep understanding of profit margins and being able to leverage those insights quickly into your promotion criteria, however complex, without affecting your bottom line are the keys to profitable discounting. So, are you ready to claim your place in the discounting hall of fame? Step right up!
Taking the Guesswork out of Discounting
We all want to make sales. After all, we didn’t get into business to produce or buy in stocks of products and services just to have them sit on their physical and virtual shelves gathering dust. Informed retailing is based on having a deep understanding of the commercial landscape, its location, and the folk that live there. Such a level of profiling is crucial when you are selling a range of items globally where willingness to pay means pricing can differ from region to region and sector to sector – and successful discounting needs to be able to reflect this.
Well, the good news is, with Pricefx’s PromotionManager, you can manage all of your campaigns, promotions and special pricing from one place, regardless of their level of complexity, based on structures and on-invoice conditions as defined in back-end ERP systems such as SAP, Oracle, etc. And that means happy marketing, pricing, product and sales specialists and management.
The Sky’s the Limit with SaaS-based Pricing
And thanks to Pricefx being a cloud-based SaaS platform, when it comes to enablement and launching, you can enjoy its ultra-agility. This is a huge advantage as being able to launch effective special offers is time critical. So whether you are basing your promotion criteria on pricing or discount type, customer segment, dates or special discounts, bundles and pricing, you can define them your way. And with PromotionManager, you can publish your promotions and update your pricing fast to all of your external systems, including e-commerce and ERP.
Having an unlimited number of calculation and simulation logics based on cost, market, competition, product attributes, value perception or any mix of those, defined directly through the user interface (UI configurability) and based on a library of functions and commands, drives all types of:
static, calculated or manually set price lists (e.g., periodic pricelists)
live price grids for frequent, dynamic price re-calculations and updates (e.g., online retail, etc.)
product price, quote and deal simulations
price calculations based on bills of material, bundles, sets, kits, etc.
segmentation and algorithmic price optimization
The Power to Define and Automate Your Path to Discounting Success
To establish and implement effective discounting strategies of any complexity, you need to be able to control them at every step by defining your review and approval processes. Using automated workflows to configure and manage Pricefx’s PromotionManager, you can define and control discounts based on periodical promotions, seasonality, product sellouts, customer groups and any other product-customer combination you can throw at it. Plus, with the role- and rule-based approval processes, you can be sure only the right promotions hit the streets.
Campaigns are not limited by geolocation. Taking into account exchange rate variations and willingness to pay, you can scale your campaigns to different territories and products with full multi-currency, multi-unit and multi-product support, and all managed from one centralized location.
Monitor Those Campaigns
PromotionManager allows you to monitor and update all of your special offers in real-time. And with direct data transfer to the QuoteConfigurator module, ERP or e-commerce systems, you can easily manage any of your pricing updates.
And to make monitoring even more effective, you can also create detailed dashboards and export them easily. You can change, approve or cancel promotions by leveraging a detailed and customized view of the results of your special offers at both a product and customer and product level with ease.
Here’s a quick recap of what PromotionManager gives you. You can:
Define and maintain complex, special conditions at various customer and/or product hierarchy levels
Launch and monitor price promotions and campaigns
Manage net prices
Mimic the back-end structures of on-invoice special conditions while allowing more flexible and agile management of calculation schemas and dependencies
Duncan Hendy is a content marketing expert with over 20 years of experience in B2B and B2C marketing, from Interactive TV to SaaS solutions. When not working, Duncan composes classical music and is also the author of several books. He is a huge fan of craft beer and anything spicy.