How We Optimize Prices

  • Step 1: Sign Up

    Sign Up

    You fill in your details on our sign-up page and then get started.

  • Step 2: Research Project

    Create a Project

    Logging in to your account, you can create a project. With a project, we mean one survey to measure willingness to pay for one product or service. You can create as many projects as you need.

  • Define Target Audience

    Once you created a project, you select which audience you need for the project. This means that you specify from our selection list the profile of the individuals you want to query about their willingness to pay and buy your product or service.

  • Qualification

    Using our template, you construct one qualification questions and one disqualification question. You want your audience to have the traits of the qualification question and you want them not to have the trait of the disqualification question.

  • Further Research Questions

    You may also add two questions that might be of interest for you to find out about. You have to provide the exact question language, and you have to provide the exact answer alternatives. One of these two questions can be used to segment the willingness to pay data.

  • Describe your product or service

    You provide a short description of your product or service, including (and this is very important) a description of the particular value or benefit just your product or service provides to your customer.

  • Step 3: PriceBeam Research

    Research Survey is generated

    Your information will generate a survey that will be sent to the audience you selected. Before the survey is launched, it is quality controlled by PriceBeam staff. If we find issues we cannot correct ourselves, we will contact you for further information.

  • On-going Research

    The survey is launched and once we reached a statistically valid number of respondents, we will close the survey and analyze the data.

    You will be notified of the survey launch, the survey completion and the progress at any point in time by logging on to your account. The survey and analysis process takes about a week.

  • Results are in

    You will receive an email that the research has completed and you can then log on to your account to analyze the results.

  • Step 4: Results

    Analysis of Results

    10. The results will include:

    • The response to your questions
    • Graphs to represent measured willingness to pay for all respondents and for the segments you defined. This means that you will see how willingness-to-pay changes as different prices are considered. The graphs will have a clear indication of what price will provide you with the highest sales volume. The graphs will also indicate the dangerous price walls, psychological price points where small price changes can cause significant changes in sales volume.
    • Graphs to represent modeled revenue for all respondents. This means you will see at what prices you will receive the highest revenue, that is almost always different from where you will receive the highest sales volume.
    • Precise advice on price for highest sales volume and highest revenue.
    PriceBeam Analytics
    PriceBeam Analytics
    PriceBeam Analytics
  • Expert Human Advice

    As an add-on you can also obtain expert commentary and advice to your graphs from PriceBeam.