Impact Pricing Optimize Your Pricing Strategies with Cutting-Edge Cloud Technology with Finn Hansen
Finn Helmo Hansen is the CEO and Co-founder of Price Beam and Stratinis, helping businesses use pricing and revenue growth to win.
In this episode, Finn discusses the two companies he founded - Stratinis and Price Beam - and their significant contributions to the field of market research in pricing. He also sheds light on effective pricing optimization strategies.
Why you have to check out today’s podcast:
- Find out how Price Beam does market research for optimizing pricing using a cloud-based technology
- Discover what advantages and capabilities conjoint analysis have over other market research techniques
- Learn insights into the pricing optimization frontiers that are on the rise
"It's not about communicating once you've launched the price increase or even the day before, it's a continuous communication. And if you as a pricing team think that you're communicating enough, then double it."
- Finn Hansen
Topics Covered:
01:13 - What paved his route to pricing
02:29 - Is there truth to wine quality equals higher price?
03:24 - What prevent wineries from raising wine price
05:02 - How do these companies he created, Price Beam and Stratinis differ from each other and why he created these two
07:17 - What specifically does each of these companies do?
09:25 - More in-depth discussion of the business structure of each company
11:09 - How does Price Beam and Stratinis relates to or differs from Conjointly [the process of gathering data up to analysis]
13:59 - The way AI [called Tool Plus] works in the whole process of data research and analysis
15:30 - What more can conjoint research method unpack that historical can't?
21:43 - Distilling the concept of shrinkflation
24:56 - Finn's comments on companies increasing prices by way of package machinations
27:37 - The next frontier in price optimization
29:41 - Testing different promotional alternatives
30:47 - Finn's best pricing advice
Key Takeaways:
"The next frontier in price optimization is going to be around promotion optimization, especially in CPG, because there's a lot of money there." - Finn Hansen
"You need to communicate as much as possible, talk about the value." - Finn Hansen
"Communicate about prices all over the year and sell internally." - Finn Hansen
"Pricing communication is key." - Finn Hansen
People/Resources Mentioned:
- Survey Monkey: https://www.surveymonkey.com
- Momentum Now: https://www.themomentum.com/momentum-now
- Conjointly: https://conjointly.com
- Carrefour: https://www.carrefour.com/en/group/stores
Connect with Finn Hansen:
- Email: finn@pricebeam.com / finn.hansen@pricebeam.com
- LinkedIn: https://www.linkedin.com/in/finnhelmohansen
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mark@impactpricing.com