Pricing Optimization Solution
In the recent past, media firms were contemplating content monetization strategies such as categorizing content for hard and soft pay walls. However, the incessant demand for information, multitude of channels and cutthroat competition shifted their focus to dynamic pricing for subscribed content.
HCL has been delivering pricing optimization services and analytics solutions, one of the key enablers for determining the content price based on multiple parameters (users’ interest, recency, competition price, etc.) across education, publishing, newspapers magazines, media and broadcasting customers. We have also been instrumental in providing personalized pricing that favors our customers and maximizes their benefits.
As a result HCL has helped its customers to:
- Apply advance science and predictive analytics to implement an effective pricing model.
- Leverage the revenue management solution to forecast pricing and yieldable demand by incorporating cross price elasticity.
- Build a flexible and automated solution to dynamically report financial performance based on key business indicators.
- Store product and customer data throughout the customer life cycle for business performance analytics and agility (equivalent to customer 360°).
- Deliver personalization-improve the conversation rate and guest satisfaction through personalized promotional activities across channels (email, direct mail, web banner advertisements, website, social media, mobile, and customer center).
HCL’s eCommerce and multi-channel IT solutions addresses all the needs and demands of today’s customer governed market place. With a large pool of multi-channel professionals, providing pricing optimization services for education companies, key partnerships with industry experts, CoEs in eCommerce and a proven global delivery model, HCL’s eCommerce and Multi-Channel Solutions and Services have helped some of the largest retailers not only increase market share but also maintain customer loyalty, reduce cart abandonment and retain competitive advantage.
HCL’s eCommerce engagement overview
World’s largest maker of security software: A single eCommerce platform serving 65 million+ user base tuned for 15,000 orders per hour providing uniform customer experience across business segments
HCL’s analytics practice with the right blend of technology-orientation and analytics consulting expertise across all verticals has a unique position in the market. The primary focus areas of the practice are:
- Big data analytics
- Customer/Marketing analytics
- AML/Fraud analytics
- Operations research
- Publishing Pricing Management
A snapshot of its engagements:
- Developed a hyper-local social networking platform for the Hispanic community—creating a new revenue channel with 10m visitors and over 5m sales in the first year for a leading newspaper
- Improved the product cross sell rate by over 12 times for a financial services major in the US
For details of our Analytics practice, please refer to-