2018: The ‘Year of AI and Machine Learning’ for Financial Marketers | The Financial Brand

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5. Product Pricing
Should products and services be priced exactly the same for every customer or member in your database? Optimally, product and service pricing should reflect the profitability of the relationship and the overall impact a specific pricing decision would make on the relationship (similar to pricing done in commercial business relationships). With dozens of factors products impacting the sales model, an estimate of the price to sales ratio or price elasticity would also be preferred.

Dynamic price optimization using machine learning can help correlating pricing trends with sales trends by using an algorithm, then aligning with other factors such as product management goals and cost to deliver/service the product or service.

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2018: The ‘Year of AI and Machine Learning’ for Financial Marketers.