B2B businesses often create long-term relationships with their customers. As such, prices and products are often heavily tailored to meet the individual needs of one’s prospective customers. This high variance in offering paired with low average number of sales per customer complicates both pricing and product optimization. Thanks to its unique technology, buynomics gives you more certainty on how customers will react to your offer, enabling you to make better, more profitable decisions.
Key challenges B2B companies face
In the B2B industry, every customer has different need regarding their product. Therefore, the companies set their prices for every customer individually. However, they differentiate their prices without having any information regarding their willingness-to-pay. To high prices can causes losses of customers to competitors, while to low prices can decrease profit.
Pricing is even made more complicated by competitive intransparency. B2B companies cannot consider in their pricing decision the competitors’ prices or their offers. Therefore, they need to have a rigorous statistical approach to avoid cutting their margins through extensive promos.
Compared to B2C, the sales cycles in the B2B industry are way longer as well. Hence, sales data takes longer to accumulate, which is further amplified with having only few customers. Furthermore, many B2B businesses do not collect data on won and lost deals. Therefore, they do not have data available on when prices were too high or too low. Adding to this is the tendency of them to focus on individual deals rather than optimizing the overall outcome.
Find out how buynomics helps B2B companies tackle these challenges
Reliably predict consumer behavior to make better and more profitable price decisions
Evidence-based portfolio optimization powered by our proprietary Virtual Customer technology
Data Analytics for Consumer Insights
Evidence-based predictive analytics powered by reliably forecasting consumer behavior
Key product features
buynomics' Virtual Customer technology offers various features for B2B managers:
Optimize your channels and trade terms with bespoke offerings that best fit the consumers’ preferences.
Create and compare an infinite number of scenarios considering price changes, portfolio changes, promotions or any number of combinations thereof to determine your best strategic course of action.
Simulate competitors’ actions and reactions to determine the effect on your own portfolio as well as the best strategic response.
Optimize core KPIs like profit, units, volume and revenue in a few clicks.
Gain deep analytical insights including elasticity- and demand curves for all products.
How your business benefits with buynomics
Maximize profits across your portfolio
Faster decision-making – get insights in minutes instead of months
With R² up to >95% we are up to 10 times more accurate than legacy solutions