Pricing Analytics for A Renowned OTT Services Provider Helps Profile the Potential Customer Segments
With the relentless growth in technology, customers have become more digitally aware than ever before and are looking for seamless solutions to stay relevant in today’s technology-driven environment. Also, with the rising need for mobile and consumer electronic devices among the customers, organizations in the OTT services space are seeking robust technologies to promise personalized experiences […]
With the relentless growth in technology, customers have become more digitally aware than ever before and are looking for seamless solutions to stay relevant in today’s technology-driven environment. Also, with the rising need for mobile and consumer electronic devices among the customers, organizations in the OTT services space are seeking robust technologies to promise personalized experiences to their customers. Furthermore, to provide convenience and further enhance customer value, renowned service providers in the OTT services space are augmenting the need for robust price analysis solutions. With the help of an effective price analysis solution, companies in the OTT services space can gain information about their customers and identify pricing opportunities to realign prices and increase margins. Moreover, service providers can closely monitor the market and anticipate fluctuations in prices and devise effective pricing strategies. Also, leading service providers can manage their pricing strategies and promotions and further manage profitability.
To stay ahead of the curve and sustain their performance, renowned service providers in the OTT services space are approaching companies like Quantzig. With years of expertise in offering a plethora of services, Quantzig’s price analysis solution helps service providers in telecom industry effectively estimate the impact of pricing on sales volume and understand the future impact of price fluctuations on market share. Also, OTT services providers can optimize the pricing of their services and maximize their return on investment.
The Business Challenge
A renowned OTT services provider with a considerable number of service offerings spread across the globe was facing certain predicaments estimating the price-change triggers and promotional pricing on their services. The OTT services client wanted to understand the current market space and position services effectively to stay ahead of their competition. Moreover, the OTT services firm wanted to revamp their service prices and analyze their profitability across various channels. With the help of this price analysis solution, the client wanted to seek ways to profile potential customer segments and estimate the impact of pricing on sales volume.
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Price Analysis Solution Benefits
With the help of pricing analysis, the OTT services client was able to re-discover their pricing patterns and offer services at lower costs compared to the competitors. The engagement also helped the client identify the average price elasticity of services and its impact on the sales and profit margins. Furthermore, the engagement helped the client identify the impact of price promotion on the brand equity. The OTT services provider was further able to respond effectively to pricing fluctuations and identify the effect of price gaps on the sales and brand position.
Price Analysis Solution Predictive Insights:
- Effectively responded to the changes in the pricing levels
- Understood the impact of price promotion on brand equity
- Developed effective strategies to maximize brand growth
- Increased sales by 20 percent and improved the overall profitability
- Planned and enacted more profitable pricing strategies and made proactive pricing decisions