IS LEAFLET 100% AUTOMATED?
Leaflet is designed to add pricing efficiency to any business while saving the operator of that business time and bandwidth. Thus, Leaflet is as close as possible to completely automated. Having said that, there are several guard rails you can set to provide boundaries for Leaflet’s price experiments.
WHAT CONTROLS WILL I HAVE OVER MY PRICING?
You will have several guard rails that you can use to provide boundaries for Leaflet. These include: (i) designating which products can be repriced by Leaflet, (ii) specifying the allowable range of price experiments, (iii) setting a monthly budget for price experiments, and (iv) instructing Leaflet to flush a particular product out of inventory.
WHAT KIND OF RESULTS CAN I EXPECT FROM LEAFLET?
What kind of results are you looking for? All cuteness aside, Leaflet’s value can be measured from multiple business KPIs, and Leaflet can optimize around different business goals (top line growth, bottom line growth). For example, real world applications Leaflet has increased top line revenue by 20%.
Having said that, Leaflet’s actual impact will vary from business to business. This variation is based primarily on three factors:
Use case - All Leaflet can do is tell you the optimal price to charge for any given product and customer, within the ranges you set. It can’t tell you the best way to present that information to your customers.
Baseline - The more efficient your pricing is before using Leaflet, the less potential there is for Leaflet to make a difference on a percentage basis.
Data - The more data you have, and the more diverse your data is, the more effective Leaflet will be in recommending efficient pricing for your customers. For more on this topic, click here.
HOW DOES LEAFLET DECIDE HOW MUCH TO CHARGE?
Leaflet runs proprietary machine learning algorithms that determine how much to charge in any given scenario.
will leaflet only offer prices that are below my list price?
That’s up to you. One of the guard rails that you define is the range of allowable prices.
is personalized pricing legal?
As with all legal questions, the short answer is: it depends, in part, on what jurisdiction you’re in. If you are concerned about this issue, we recommend you consult a qualified attorney before using Leaflet. For a brief summary of the relevant law in the United States, click here.
will personalized pricing upset my customers?
No, but dishonesty will. As long as you are transparent with your customers about when/where prices are being personalized and when/where they are not, there is nothing to be upset about. In fact, many of your customers will appreciate the lengths you are going to in order to win their business.