Customer Case Studies
Learn more about how Mimiran helps leading companies improve pricing results.
Fortune 500 Healthcare Company
Fortune 500 High Technology Company
Fortune 500 Consumer Packaged Goods Company
Leisure Offerings Pricing Optimization
High Tech Marketing and Promotion Optimization
Fortune 500 Healthcare Price Measurement and Capture
A leading healthcare company was concerned that an unfocused pricing message and poor visibility into pricing performance was hurting their relationship with their customers and the bottom line. With data in several ERP and legacy systems, they had no way to know which products, accounts, and campaigns were most effective.
Solution
Mimiran integrated the data from numerous systems into a single model of pricing and profitability, taking advantage of Mimiran's flexible data model to add information over time, as the client team produced data extracts. In addition to standard segmentation, waterfall, price band, and scatter reports, Mimiran also looked price change realization, the amount of a list price change actually captured, and modeled scenarios to estimate the impact of price changes.
Results
Working collaboratively through Mimiran software, the Mimiran team and the client team identified short-term, quantifiable pricing opportunities worth 1-3% of revenue, plus an additional 2-3% of revenue in longer term opportunities. Mimiran also devised a plan to capture these opportunities, which is already underway.
Fortune 500 High Technology Pricing Improvements
A large high technology company needed better visibility into pricing across various customer segments, distribution channels, and product lines. In addition to using this insight to set better pricing and discounting policies the company needed a way to track and enforce the guidelines.
Solution
Mimiran provided a combination of software and services to extract and analyze data, design a new pricing process, backed by the appropriate analytical and management software, and trained users on the new process and software.
Results
The company achieved over 10 additional percentage points of margin, while accelerating the sales process.
Fortune 500 Consumer Packaged Goods Pricing Plan
A large CPG firm knew that they had substantial pricing opportunity, but they did not know how to capture it. They had spent millions on various projects and consultants, but still had little to show for their efforts. The CEO had become impatient and demanded results.
Solution
Working with the client team, Mimiran created a detailed action plan that encompassed pricing strategy, hiring and training a pricing organization, process improvements and expanding technical capabilities to support the new processes. The action plan included specific milestones for an appropriately phased approach to demonstrate benefits quickly, while building long-term, sustainable advantage.
Results
The CEO signed off on the plan, and implementation is under way. The company expects to save $1-2M per year in direct cost savings, in addition to over $10 million per year in benefits from improved pricing capability.
Leisure Offerings Price Optimization
An organization with a line of leisure offerings wanted to understand where they had significant unrealized value, and where they were pricing their customers into the arms of competitors. Previous analysis efforts had greatly improved price points, but the organization lacked the ability to micro-segment customers by demographic and behavioral characteristics.
Solution
With MimiranM3, we built a Value Price Waterfalls, which identified key drivers of customer value by segment.
Results
MimiranM3's ability to finely segment customers based on demographic information, purchase history, behavioral characteristics and survey data identified promising combinations of product and customer segments where price increases were possible and were we had to hold the line on price. This targeted approach provided significantly more upside than one-size-fits-all pricing.
High-Tech Marketing and Promotion Optimization
A high technology company wanted to target a marketing and promotional campaign. Despite extensive anecdotal evidence, they had no quantitative data on which segments were most promising, and which types of promotional offers would attract those customers. Seeking to maximize the ROI of the campaign and minimize margin erosion from improper pricing and unnecessary discounting, the company turned to Mimiran.
Solution
After spending a week applying the Mimiran Methodology to establish metrics on the pricing process, Mimiran software tracked the campaign and promotional effectiveness. Timely, accurate data led to the retargeting of parts of the campaign, and the adjustment of pricing promotions.
Results
Response rates improved over 20% through better targeting, and profitability improved 8% because of tighter discounting policies and more effective targeting of promotions. Following the strategy laid out by applying the Mimiran Methodology, and using Mimiran pricing analytics to support its implementation, profit has increased further.