Ibbaka Opens its Pricing Strategy Consulting Practice to the Wider Market
The deluge of data from systems of all kinds and the emergence of new business models is driving a transformation in how we pay for what we need. Cloud computing, open data, the Internet of Things and artificial intelligence are opening new ways to price offers.
Vancouver April 12, 2017. For the past year, Ibbaka and its partners have been developing and testing new approaches to pricing. Building on value-based pricing and adding new ways to segment markets, target customers and communicate value, Ibbaka is able to transform pricing and help companies optimize for revenue, profitability, profit margin or market share and to manage the critical trade-offs between these.
This approach was developed for a major medical equipment manufacturer that is embedding pricing as a core strategic competence. Ibbaka is now making these capabilities available as a service to companies in Business-to-Business (B2B) Software as a Service (SaaS) companies, Industrial Internet of Things (IIoT) and to multi-platform businesses (two-sided markets). Later this year, a set of software tools and learning support will be added to make world class pricing capabilities available to companies of all sizes.
“Pricing is where all of your critical marketing decisions come together. Buyers and sellers can disagree on many things, but at the end of the day, they have to agree on price.” Says Ibbaka Managing Partner Karen Chiang. “By combining a deep understanding of value and value-based pricing with data analytics and new business models, we help companies make pricing a critical part of their innovation and growth strategy.”
Pricing is a persistent and critical issue for companies. Ibbaka takes insights about value, market segmentation, target customers and buying processes and combines them to develop pricing models that optimize results for the buyer and seller. It provides companies with the tools they need to evolve and optimize their pricing while markets change. Ibbaka customers have the ability to track and adjust the results of their pricing.
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Ibbaka combines analytical software, multi-source data and consulting to help companies execute on pricing strategy. Ibbaka is focused on Business-to-Business (B2B) Software as a Service (SaaS) companies, Industrial Internet of Things (IIoT) and market platform businesses. Ibbaka helps companies deliver value-based pricing, making pricing a win-win proposition for the buyer and seller.
Karen Chiang, Managing Partner