Yieldigo’s Customer Advisory Board embarks the new market segments
There are several ways of how young companies approach their R&D activities. Following the proven concepts and traditional approach is one of them, disrupting it by a new way of doing things is another one.
There is no better way to understand the increasingly complex customer business, and so Yieldigo, the leader in pricing predictability software, decided to combine its original vision together with the expertise gained by the customers or potential clients. The idea
is to create a closed ecosystem together with the large international retail chains and discuss the pricing methods, pricing strategy and optimization on a regular basis in a new, agile way.
Jan Horak, Business development and Marketing Director of Yieldigo, who has been appointed to lead the CAB activities, discloses what’s coming next: “We proved the CAB benefits already in our previous cooperation with FMCG, grocery and pharma retail segments clients. Now the fashion, sport goods and DYI will need their own customization and modules to fit their needs. For that, we need people of diverse backgrounds to shape and validate our strategy, mindset and operating model. We are pleased to gather the insights from many talents in our CAB.”
Yieldigo team is building on its experience previously gained by cooperation with Metro SK and Kosik, who are already taking the advantage from the Bulk pricing tool. The same concept of creating CAB is now being used for entering the new market segments.
“When you’re starting to operate your business, you have an idea of how it’ll all work and you’re pretty sure it’s right. You just need to be very open-minded to admit you’re wrong and rethink stuff quickly – typically your friends know but they are too nice to tell you, listening to clients is what drives the change,” explains David Klecka, CEO of Yieldigo. “Getting in touch directly with your customers or potential customers and asking for their strategic insights is the way to avoid the painful moments and go directly to the point of where the customers struggle most.”
Yieldigo until now built the R&D activities on it’s original idea. The product development contained a knowledge of the retail pricing experts, that’s how the software for optimizing prices and protecting margins was developed.
The newly coming demand from the fashion and sports goods market segments ask for a change. And that’s why the close cooperation with the potential customers is being set up again with new members of CAB.
In the current situation the fashion brands and sports selling stores are actively seeking for a solution that would help them to improve their pricing methods as a reaction to the pandemic dynamics in general and then also to support the typical fashion sales model, which is the sellout pricing optimization tool. The tool is mainly supporting the seasonal sales and storage clearance before the new seasonal goods arrive.
“Especially when you enter a new market segment or a new industry, you realize how important it is to have their in-depth knowledge and market insights,” says David Klecka, CEO of Yieldigo. “We’re ready to face the candid feedback to our product roadmap and we’re willing to to capture the industry trends.”
The CAB operations take organizing the face-to-face meetings on a regular basis once to twice a year to give the opportunity to the members of CAB to learn about the progress of recent developments. The members, who are usually senior executives from customer companies, will Influence the company’s direction mainly in product development. Moreover, they’ll have an opportunity to network as well as with the company members, share their best practices and new ideas.