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Lean Pricing Strategy
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Lean Pricing Strategy

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Pricing is one of the most important aspects of your business with a 1% in price optimization causing an 11% boost in profit. Here's a breakdown of Lean pricing strategy for your marketing team to …

Pricing is one of the most important aspects of your business with a 1% in price optimization causing an 11% boost in profit. Here's a breakdown of Lean pricing strategy for your marketing team to bring some data and science into your pricing.

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  • 1. @Patticus Lean Pricing June 27, 2013
  • 2. @Patticus Provide you a quick, analytical process to approach pricing in your business.
  • 3. @Patticus Pricing isn’t hard, it’s a process.
  • 4. @Patticus Let me say again: Pricing is a Process
  • 5. @Patticus There is no silver bullet.
  • 6. @Patticus • The Importance of Pricing • Positioning • Packaging • Pricing (getting the number) • Tips and Tricks - the last 5% Our Agenda
  • 7. Basic Plus Premium $49 $149 $299 I only have one cool feature. The same cool feature. Yup, same one. Oh! You can only get this here. Well...and here. Huzzah! I’m the plan with everything. @Patticus The Center ofYour Business
  • 8. @Patticus 1% Pricing +11% Profit The Importance of Pricing
  • 9. @Patticus Main Takeaway #1 Pricing is huge. Develop your pricing strategy alongside the rest of your product and marketing.
  • 10. POSITIONING
  • 11. “Who are you selling to and how are you selling?” Customer Personas
  • 12. @Patticus “Align your revenue model along your value metric...” Value Metric
  • 13. @Patticus Value Metric
  • 14. @Patticus Wistia - Value Metric
  • 15. @Patticus A value metric is what you charge for, and should: 1. align to your customer’s needs. 2. grow with your customer. 3. be easy to understand. Value Metric
  • 16. @Patticus DefineYourValue Metric
  • 17. @Patticus DefineYourValue Metric Perfect World
  • 18. @Patticus DefineYourValue Metric Perfect World Real World
  • 19. @Patticus DefineYourValue Metric Perfect WorldTomorrow Real World
  • 20. @Patticus Main Takeaway #2 Understand and align upon your value metric and most other metrics will fall into place.
  • 21. PACKAGING
  • 22. “What are you selling?” Packaging
  • 23. “Bundles, tiers, and packages should be segmented and discrete...” Packaging
  • 24. HubSpot
  • 25. MailChimp
  • 26. Litmus
  • 27. “Please rank the following features on a scale from 1 to 7...” Traditional Feature Analysis
  • 28. Relative Value Analysis - MaxDiff and Conjoint “Select the Most Important and Least Important Feature…”
  • 29. @Patticus Main Takeaway #3 Each customer should have a point of entry and a place to grow.
  • 30. @Patticus PRICING
  • 31. @Patticus Pricing “Your customer is the only one who can tell you their willingness to pay...”
  • 32. @Patticus Price Laddering and VanWestendorpf
  • 33. @Patticus Price Laddering and VanWestendorpf
  • 34. @Patticus Main Takeaway #4 Utilize a data model and talk to your customer about their value perception.
  • 35. @Patticus EVERYTHING ELSE and QUESTIONS
  • 36. @Patticus Patrick Campbell Patrick@PriceIntelligently.com @Patticus
  • 37. @Patticus Download our free e-book to stop guessing, and start pricing intelligently.
  • 38. @Patticus Download our free e-book to stop guessing, and start pricing intelligently.

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