Impact Pricing11 Dec 2023

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

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