Lean Pricing Strategy

3,844 views

Published on

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.

Published in: Business, Technology
0 Comments
8 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
3,844
On SlideShare
0
From Embeds
0
Number of Embeds
130
Actions
Shares
0
Downloads
108
Comments
0
Likes
8
Embeds 0
No embeds

No notes for slide

Lean Pricing Strategy

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

×