Our client, a leading provider of laser hair removal and cosmetic injectables, was a recent market entrant in the UK and Ireland.
They have already benefited from a strong market position and a high growth trajectory.
However, they wanted to drive greater market share through a more data-driven pricing strategy that would unlock untapped revenue and profit potential.
We adopted a 3-phase approach to optimize our client’s pricing proposition.
Our team started with an initial diagnostic to understand the current capabilities, with research and benchmarking to establish a market position and identify quick wins.
This research all fed into the model development, which included price, bundle, promotion, and subscription recommendations, built around a clear business case.
Once developed, we moved into the trial phase, field-validating the pricing potential, refining the model as needed and building success stories for ongoing communications.
Finally, we supported the deployment and embedding of the new pricing program, including developing reporting and KPI recommendations for ongoing monitoring.
A strong market position and a clear understanding of their untapped pricing potential put our client in a great starting position for this process.
Working together, we optimised the price and discounting model, defined clear upsell and cross-sell strategies, applied regional differentiation through promotions and peak pricing, and developed a loyalty scheme that engaged and incentivized users.
The recommendations translated into a 9% uplift in revenue for our client.
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