Transforming to a Subscription Model with Pricing and Packaging Innovation (Subscribed13)

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Marketwired - Sonia Mayer, Director, Business Solutions & Transformation

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Transforming to a Subscription Model with Pricing and Packaging Innovation (Subscribed13)

  1. 1. Overcoming Organizational Resistance to Deliver Your Subscription Strategy Sonia Mayer Director, Business Operations
  2. 2. The Nine Keys to Subscription Success $ PRICE   ACQUIRE   BILL   COLLECT   NURTURE   ACCOUNT   MEASURE   ITERATE   SCALE  
  3. 3. Agenda   1.  Marketwired  Introduc@on   2.  Our  Business  Challenge   3.  Pricing  &  Packaging     4.  Scalable  Subscrip@on  Management   5.  Wrap  Up  &  QA  
  4. 4. $100M  social  communica/ons   company  established  in  1983     providing  full-­‐service  online  and     offline  content  distribu/on  and   social  media  solu/ons.     Over  400  employees  in  15     offices  across  four  con/nents.     100+  dedicated  to  Client  Support,   available  24/7,  in  mul/ple   languages.  100+  in  engineering  and   development.   From  5,000  clients  five  years  ago     to  over  15,000  today,  including     60%  of  Fortune’s  top  50  companies   and  9  out  of  the  top  10  brands  on   Interbrand’s  Best  Global  Brands  2012.   Owned  by  OMERS  and  John  Hancock.   What  do  clients  love  about  us?   •  Powerfully  simple  solu/ons   •  Measurable  results   •  Excep/onal  client  service   •  Constant  innova/on     OUR  VISION:  TO  ADVANCE  THE  WAY  THE  WORLD  COMMUNICATES.   Marketwired  
  5. 5. Business  Challenge   Goal   Challenge   Launch  a  SaaS  based  social  communica@ons  plaRorm:  tradi@onal  wire   distribu@on  service  offering,  powered  by  our  social  media  monitoring  and   analy@cs  engine.     1.  Transi@on  our  transac@onal  based  business  into  a  subscrip@on  model.  Price   guide  that  consisted  of  1200+  products  each  priced  uniquely,  some  with  fixed   versus  variable  costs,  available  in  mul/ple  currencies.     2.  Deploy  a  scalable  subscrip@on  management  &  billing  infrastructure.  Smoothly   transi/on  our  customers  from  a  highly  customized  CRM,  fully  integrated  with   mul/ple  legacy  systems  /  billing  engines,  designed  to  support  a  transac/onal   business  model.    
  6. 6. Pricing  &  Packaging  Journey  
  7. 7. Pricing  &  Packaging   L e s s o n s   L e a r n e d   L E S S O N   # 1   Develop  your  first  subscrip/on  pricing  model  for  one  target  market   L E S S O N   # 2   Engage  cross-­‐func/onal  representa/ves  in  your  pricing  reviews   L E S S O N   # 3   Analyze  your  data,  recommend  a  model,  test  and  capture  more  data  
  8. 8. Scalable  Subscrip@on  PlaRorm   O L D   W A Y   N E W   W A Y   F U T U R E   W A Y   •  1200+  products/SKUs   •  Pricing  changed  once  /   year   •  Special  promo/ons   required  updates  in  4   plaforms   •  Direct  sales  force   •  Quo/ng    and  contrac/ng   process  onerous  and   complex   •  Customer  data  stored  in   mul/ple  applica/ons     •  5  base  subscrip/on   offerings   •  Pricing  changed   throughout  the  year   •  Streamlined  quo/ng   process  focused  on  value   •  Single  source  of  truth  for   customer  data     •  Subscrip/on  analy/cs       •  Free  trials   •  Online  purchase  with  click   through  contracts   •  Pricing  flexibility,  ability  to   gradually  transi/on  usage   charges  into  subscrip/on   fees     •  Special  promo/ons  driven   by  Product  &  Marke/ng   •  Advanced  subscrip/on   analy/cs      
  9. 9. Scalable  Subscrip@on  PlaRorm   L e s s o n s   L e a r n e d   L E S S O N   # 1   Review  and  re-­‐engineer  all  business  process  flows   L E S S O N   # 2   Determine  how  old  and  new  world  repor/ng  will  co-­‐exist  early  on   L E S S O N   # 3   Partner  with  your  vendor  to  design  subscrip/on  pricing  solu/ons  
  10. 10. Wrap  Up   Emphasize  crawl-­‐walk-­‐run  model   Business  model  is  changing,  engage  all  par@es  early  and  o^en   Use  your  data  to  support  your  subscrip@on  strategy  and  iterate  
  11. 11. Q&A   Thank  You!  

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