Chad Rubin is the Founder and CEO of Profasee, a dynamic pricing platform enabling brands to predict the optimum price for every product. He has built several successful companies, including Deep and Sassy, Think Crucial, and Skubana, which was acquired by 3PL Central. As a speaker and world-class Amazon expert, Chad gives presentations about ecommerce, SaaS, and Amazon at global conferences and webinars. He is also the co-author of the Amazon bestseller Cheaper Easier Direct.
Here’s a glimpse of what you’ll learn:
- [4:04] What is dynamic pricing, and how can brands utilize it to boost profitability?
- [7:42] Chad Rubin explains why he developed an AI pricing model and its advantages over manual models
- [13:47] Chad’s thoughts on AI surpassing human intelligence
- [16:59] How Profasee is revolutionizing pricing on Amazon
- [21:43] Advice for structuring pricing on Amazon and other platforms
- [26:16] Chad talks about building and selling Skubana and how the experience impacted Profasee
- [34:54] The value of meaningful interactions
In this episode…
Pricing on Amazon is becoming increasingly competitive, and given its complexities, brands often disregard this portion of their business. Yet product pricing affects profitability substantially, so establishing an exact price point is crucial to increase discovery on Amazon. So what’s an ideal method for optimizing revenue?
According to Chad Rubin, traditional, manual pricing models utilize if-then scenarios, allowing for human error and compromising lucrative opportunities. AI is an evolving tool that brands can leverage to develop a dynamic pricing framework that improves product detail pages and forecasts demand. AI models can recognize user inputs to make decisions that maximize revenue. Profasee is disrupting price algorithms on Amazon by leveraging AI pricing models to outperform the competition.
Founder and CEO of Profasee, Chad Rubin, is interviewed by Joshua Chin on this episode of the eCommerce Profits Podcast about AI’s role in dynamic pricing. Chad also discusses how brands can utilize dynamic pricing to generate profit, his thoughts about AI surpassing human intelligence, and advice for structuring pricing on Amazon and Shopify.
Resources mentioned in this episode
- Joshua Chin on LinkedIn
- Chronos Agency
- eCommerce Growth Hackers Facebook Group
- Chad Rubin on LinkedIn | Twitter
- Chad Rubin email: [email protected]
- Cheaper Easier Direct by Chad Rubin and Frank Turner
Sponsor for this episode
This episode is brought to you by Chronos Agency.
If you are a direct-to-consumer ecommerce brand that wants to unlock the optimum customer lifetime value through email marketing, then look no further than Chronos Agency!
Our team of passionate email marketing experts has helped hundreds of brands generate over $70 million in return from email alone, and our clients receive an average of 3500% ROI from our efforts.
Chronos Agency has worked with a variety of brands, including Truly Beauty, Alya Skin, and many more. Our mission is to help real businesses achieve real results.
Welcome to the eCommerce Profits Podcast where we feature top founders and experts in the ecommerce Industry and take an in depth look at their struggles and successes and growing ecommerce brands profitably.
Joshua Chin 0:18
Alright, and we live let’s good people. My name is Josh Chin and the host of the eCommerce Profits Podcast, where we feature top experts and entrepreneurs in the ecommerce Industry. And we go behind the scenes to figure out the struggles and successes of growing a brand. And today’s episode is brought to you by Chronos Agency if you run a direct to consumer ecommerce brand that is ready to scale and to double your customer lifetime value true retention and lifecycle marketing Chronos is your company. We’ve helped hundreds of brands scale profits with email, SMS and mobile push will gain an average of 30 500% ROI from our efforts worked with brands like truly beauty, the UDI, Elias skin, Dr. Livengood and many, many more. Now the next step is to email us at [email protected] or you can go to chronos.agency to learn more. Today’s guest is a serial entrepreneur can’t call you that chat, serial entrepreneur in the ecommerce Industry. He’s a veteran. He’s been in the space for over 1315 years now. There’s a long time. And Chad has built and sold multiple companies including prosper show sells choice, most recently Skubana back in 2021, so not too long ago. And today, he’s building a pricing, a dynamic pricing platform called Profasee that enables brands to predict the perfect price for every single product at each precise moment. Fascinating stuff. I’ve never heard of any other platform that does exactly what Chad is building. Chad, welcome to the show.
Chad Rubin 2:04
Thank you for having me. Excited to be here.
Joshua Chin 2:07
Was it a good intro?
Chad Rubin 2:09
That was an amazing show. I really appreciate it. I do I even need to be here any longer. You got you took care of it.
Joshua Chin 2:15
Great. Chad. Before we get started really quickly, I was doing a little bit of my research. And when I when I keyed in Chad Rubin, your full name on Google, one of the first things that one of the first few results that pop up was a was a profile of Chad Rubin, a serial singer songwriter. I’m not sure if you’ve heard of this guy. You haven’t know. Again, that’s a fun one. You have a you have an alter ego. In Scottsdale, Arizona Super Chat Room. And
Chad Rubin 2:59
I’m gonna say I’d never build on myself. I just googled myself just now. And it looks like I come up first on Google. So I’m happy to take the top slot.
Joshua Chin 3:07
You do you do. But as you can dive a little bit deeper into the chat room and rabbit hole. You’ll see it Yeah. That was a fun one. But yeah, that’s that’s interesting. I, I think that people listening are really interested to hear about Profasee, and what you do and it’s aI enabled, which allows for people to make nice decisions on pricing a lot quicker and a lot more dynamically and often without any human input. Which is really, really cool. I know it takes a ton of time to build an AI model, as you’ve explained, and it’s only been about a year and for people listening, no clue what dynamic pricing is all about. But selling on Amazon, they’re doing it manually. Why? Why does it matter?
Chad Rubin 4:04
So pricing is easy to talk about but hard to execute on. nobody actually knows what the optimal price is. And there’s billions that are being left on the table to mispricing opportunities. Interestingly enough most brands on Amazon today focus on spent and so what really started me down this path was Would you ever leave $10,000 of ad spend on optimized no you constantly make tweaks find the wasted spend and so why is nobody touching price and so there’s a massive opportunity because price is one of the the quickest levers to pull to maximize profitability.
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