PODCAST EP55: How Does Pricing Analytics Impact a Company’s Pricing Strategy with Neil Biehn
EP55: How Does Pricing Analytics Impact a Company’s Pricing Strategy with Neil Biehn
————————————————————————————————
Summary:
————————————————————————————————
Neil Biehn is the Vice President of Business Analytics at Siemens Healthineers. He has over a decade of experience in analytics, segmentation, sales effectiveness, and pricing optimization. Neil’s specialties include Analytics, Segmentation, Revenue Management, Price Optimization, Operations Research, Willingness-to-Pay, and Data Science.
In this episode, Neil shares with us how Data Science helps in pricing. He also deep dives into why pricing works better with data analytics allowing you to compare and assess different pricing strategies.
————————————————————————————————
Why you have to check out today’s podcast:
————————————————————————————————
- Understand how Data Science helps in pricing
- Find out the disconnect between product managers and data scientists in terms of pricing a product
- Discover why pricing work better with data analytics allowing you to compare and assess different strategies
“Profit as a guide for price is limited and should be used only if it is in line with the strategy of a company. You are willing to lose customers to maintain a profit margin, ultimately, your customers don’t care about your profits, they care about the price of your services or materials or any products. Let Finance worry about running your profits.”
– Neil Biehn
Get COV’s Pricing Metrics:
The Most Important Pricing Decision in a Subscription Business Course at https://www.championsofvalue.com
————————————————————————————————
Topics Covered:
————————————————————————————————
01:22 – How his path in Pricing started
04:38 – A description of his current job
05:45 – How does he describe the relationship of “business people’ in an organization with ‘data science people’
10:17 – Logical comparison of the engineering team with the data science team
13:40 – A look at one case study of coming up with good pricing at Siemens
19:25 – How does he help solve a company’s price erosion problem
20:24 – His one valuable pricing advice
22:10 – How it looks like finding a solution to problems the data science way
————————————————————————————————
Key Takeaways:
————————————————————————————————
“If you have data and have the facts, why wouldn’t you use it? Every single data point you have about price, every purchase someone makes at a price point will give you an unbelievable wealth of information and you should use it.” — Neil Biehn
Resources / Links:
The Price Advantage by Walter Baker and Craig C. Zawada - https://www.amazon.com/Price-Advantage-Wiley-Finance-Book-ebook/dp/B003YL4MVK
PROS - https://pros.com/
Connect with Neil Biehn:
LinkedIn - https://www.linkedin.com/in/neil-biehn-b071b11/
Connect with Mark Stiving:
Email: mark@impactpricing.com
LinkedIn - https://www.linkedin.com/in/stiving/
Twitter - https://twitter.com/markstiving?lang=en
VISIT THE IMPACT PRICING PODCAST for Full Show Notes and Resources: https://impactpricing.com/podcast/ep55-how-does-pricing-analytics-impact-a-companys-pricing-strategy-with-neil-biehn/
Видео PODCAST EP55: How Does Pricing Analytics Impact a Company’s Pricing Strategy with Neil Biehn канала Impact Pricing
————————————————————————————————
Summary:
————————————————————————————————
Neil Biehn is the Vice President of Business Analytics at Siemens Healthineers. He has over a decade of experience in analytics, segmentation, sales effectiveness, and pricing optimization. Neil’s specialties include Analytics, Segmentation, Revenue Management, Price Optimization, Operations Research, Willingness-to-Pay, and Data Science.
In this episode, Neil shares with us how Data Science helps in pricing. He also deep dives into why pricing works better with data analytics allowing you to compare and assess different pricing strategies.
————————————————————————————————
Why you have to check out today’s podcast:
————————————————————————————————
- Understand how Data Science helps in pricing
- Find out the disconnect between product managers and data scientists in terms of pricing a product
- Discover why pricing work better with data analytics allowing you to compare and assess different strategies
“Profit as a guide for price is limited and should be used only if it is in line with the strategy of a company. You are willing to lose customers to maintain a profit margin, ultimately, your customers don’t care about your profits, they care about the price of your services or materials or any products. Let Finance worry about running your profits.”
– Neil Biehn
Get COV’s Pricing Metrics:
The Most Important Pricing Decision in a Subscription Business Course at https://www.championsofvalue.com
————————————————————————————————
Topics Covered:
————————————————————————————————
01:22 – How his path in Pricing started
04:38 – A description of his current job
05:45 – How does he describe the relationship of “business people’ in an organization with ‘data science people’
10:17 – Logical comparison of the engineering team with the data science team
13:40 – A look at one case study of coming up with good pricing at Siemens
19:25 – How does he help solve a company’s price erosion problem
20:24 – His one valuable pricing advice
22:10 – How it looks like finding a solution to problems the data science way
————————————————————————————————
Key Takeaways:
————————————————————————————————
“If you have data and have the facts, why wouldn’t you use it? Every single data point you have about price, every purchase someone makes at a price point will give you an unbelievable wealth of information and you should use it.” — Neil Biehn
Resources / Links:
The Price Advantage by Walter Baker and Craig C. Zawada - https://www.amazon.com/Price-Advantage-Wiley-Finance-Book-ebook/dp/B003YL4MVK
PROS - https://pros.com/
Connect with Neil Biehn:
LinkedIn - https://www.linkedin.com/in/neil-biehn-b071b11/
Connect with Mark Stiving:
Email: mark@impactpricing.com
LinkedIn - https://www.linkedin.com/in/stiving/
Twitter - https://twitter.com/markstiving?lang=en
VISIT THE IMPACT PRICING PODCAST for Full Show Notes and Resources: https://impactpricing.com/podcast/ep55-how-does-pricing-analytics-impact-a-companys-pricing-strategy-with-neil-biehn/
Видео PODCAST EP55: How Does Pricing Analytics Impact a Company’s Pricing Strategy with Neil Biehn канала Impact Pricing
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Double Your Price, Boost Sales, and Skyrocket Profitability! with David FalzaniMark Impact Pricing Virtual Speaker | Pricing EducatorIntroducing- Mark Stiving of Impact PricingPODCAST EP177: Rapid Needs-based Segmentation with a Pricing... with Matt Johnston and Pavel KnorrPODCAST EP145: Usage-Based Pricing: What Most SaaS Businesses Need to Know with Kyle PoyarHarnessing the Power of Causality for Price Optimization with Gleb RomanyukHow to Price EP 1: Always Use Value Based PricingPODCAST EP164: Who Should Own Product Pricing with Ray RangaPODCAST EP131: Obstacles to Implementing Value-Based Pricing with Alex HoffmanPODCAST EP136: The Bigger Picture of Value with Liz WaingerPODCAST EP160: Managing Price Changes: Getting the Right Price for Your Products... with José VelaThe Pricing Landscape: Insights from the Professional Pricing Society Conference with Steven ForthPODCAST EP178: The B2B Innovator’s Map: Let Customer Champions Do Selling for...with Daniel ElizaldeValue Based PricingIntroducing Mark Stiving with Impact PricingPODCAST EP183: Pricing People as Consultants: Creating and Selling Value in Org... with Sagar ThakurPODCAST EP102: Why Pricing is So Easy in Theory but Not in Real Life with Alessandro MontiPODCAST EP78: Distribution Pricing Strategies to Increase Profitability with Karl PeterssonPODCAST EP196: How Retail and Analytics-Based Pricing Works with Kiran GangePODCAST EP191: Finding Value in the First Call: Asking the Right Questions with Bryan Whittington