Impact Pricing4 Sep 2023

Master Pricing Strategies with Data with Sebastian Baier

Sebastian Baier is the founder of Buynomics, an AI for ultimate customer-centric RGM decisions- in one SaaS solution.

In this episode, Sebastian discusses how Buynomics' AI utilizes vast amounts of consumer behavior data to generate virtual customers, enabling the implementation of optimal pricing strategies.

What you will learn from this episode:

Learn how to create a customer simulation to identify the key factors that drive the value of a product and develop effective pricing strategies for optimal results
Discover how to create a customer model for B2B, even when limited data is available
Learn how to effectively analyze and interpret customer data in terms of distribution rather than segment

"Collect data however ugly it might look."

- Sebastian Baier

Topics Covered:

01:12 - What got him into pricing

02:47 - Buynomics and what it does

04:41 - Understanding customer simulation and segmentation in the way Buynomics work

08:03 - Talking about segments and distribution densities

12:24 - How Buynomics helps provide what-if analyses for pricing strategies

13:29 - Creating customer models for B2B when there are not enough data available

17:28 - Sebastian's thoughts on Mark's suggested solution for B2C clients

19:11 - Salesperson as a value driver for B2B customer simulation

19:48 - Sebastian's best pricing advice

Key Takeaways:

"Even if you don't have great data [with B2B], you'll use the data because you have to have a model of the world." - Sebastian Baier

"To make statistics work, you have to have a certain number of customers." - Sebastian Baier

"It's really very valuable just to start collecting the data, and look at them as you would as a consultant." - Sebastian Baier

People/Resources Mentioned:

Connect with Sebastian Baier:

LinkedIn: https://www.linkedin.com/in/sebastian-baier
Email: sebastianbaier@buynomics.com

Connect with Mark Stiving:

LinkedIn: https://www.linkedin.com/in/stiving/
Email: mark@impactpricing.com

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