Price structure optimization
Global Payments is the world's leading provider of payment technologies and software solutions.
RESULTS
- Price structure optimization
- Revenue increase
- Maintain significant customers
Goals
- To compensate for the decline in some sources of income due to the decline in activity of selected segments
- Avoid the churn of customers
Workflow and solution
Phase 1: Initial analysis
At the beginning of the project, we performed a data analysis and identified key customer segments and sources of income, which we further focused on. In-depth interviews with the sales team, benchmarking of the competition and a series of workshops allowed us to select solutions with potentially the greatest financial impact.
Phase 2: Optimization of the price structure
Together with the Global Payments team, we have created a new price structure for selected customer segments. The most attention we devoted to long-term profitable customers, where we looked for a way to keep them, but at the same time increase revenues.
Phase 3: Migration strategy
We prepared a model that was used to recalculate the financial impact of the implementation of the proposed changes. Based on the model, we divided customers into several groups according to the complexity of price changes.
Phase 4: Communication strategy
We have prepared a communication strategy, including specific sales arguments. We identified a list of benefits and advantages that we could provide to customers and compensate for any increase in price.
