Attendees at MindShare Europe will learn how a building products distributor used price optimization and management software and competitive data to drive market-aligned prices while avoiding conflict between its B2B and B2C online channels.
How a Two-Person Pricing Team Leverages Competitive Data and Pricing Software to Optimize B2B2C Omnichannel Pricing
Updating, aligning, and delivering prices across all B2B channels can be a challenge in and of itself, but that challenge can get even more complex when B2C channels are added into the mix. For one building products distributor, that was just the case. It found that balancing pricing across its B2B and B2C channels was a major challenge as goals and pricing approaches between the two were often in conflict.
The distributor’s B2B channel was complex due to a large product portfolio and a lack of transparency in customer negotiations. Pricing for the company’s multiple B2C web shops seemed relatively simple in comparison because eCommerce prices offered full transparency and applied to fewer products. However, the B2C landscape was more difficult to navigate because of added competition and a nearly unlimited customer base.
The distributor needed to strike a delicate balance for omnichannel pricing across its B2B and B2C markets. B2B sales reps wanted fair and communicable prices, while B2C sales reps wanted competitive pricing. Ultimately, the company needed to win B2C business without undercutting prices in its B2B channel, which was its largest revenue driver.
The distributor’s two-person pricing team partnered with Zilliant to help tackle its B2B2C pricing challenges. Zilliant understood its business model, offered excellent support that enabled more agility, and was proactive in presenting creative solutions to its complex business problems. The distributor implemented Zilliant Price IQ® to optimize and derive market-aligned prices, calculate price elasticity, and create strategic pricing rules. Later, the company also used Zilliant Price Manager™ to help make competitive price moves based on predefined strategies and improve overall decision-making.
Today, the distributor has seamless omnichannel pricing that enables it to quickly respond to competitor pricing, intelligently adjust pricing between B2B and B2C channels, and rationally implement advanced pricing strategies.
MindShare 2023 Sponsor Highlight:
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