At Pricing Innovations, we have developed a proprietary approach to pricing that is 100% customizable to the dynamics and needs of your business and space. The below are our guiding principles to our approach in pricing:
More science; less art in pricing
Validation at every step
Alignment of pricing with the key growth goals
Alignment of pricing with the other key business structures: product, offer, and cost structures
Our pricing services are best fit for pricing a new product and/or service, changing your revenue model (such as transitioning into the recurring revenue or SaaS models), rolling out a new pricing structure, and bundling feature stacks, modules, and services. Tell us what you're working on, we're sure we got you covered.
We will first send over a data request detailing the key, relevant knowledge and secondary data that are specific to your space and for each of the sections of the Pricing Canvas™. This qualitative and quantitative data set will be key to aligning our guiding principles and baseline assumptions as we determine the key questions to answer.
Competitive/Comparative Analysis & Value Map
Next, we will analyze your existing sales and marketing data, design primary and/or secondary research, and conduct a competitive and comparative analysis. We will then determine your specific pricing power in relation to your segmented buyers' reference set (s) for all the other options in the marketplace.
Product and Offer Structure Alignment
We will next help you [re]configure your product, service, and offer structures to align your pricing with the benefits received by the different types of buyers. We will determine the right caps, fences, and triggers to convert buyers to paid plans as well as mobilization strategies to increase their lifetime value.
Pricing Structure and Go-to-Market Alignment
Finally, we will help you to determine the best options for incurring the costs of product development, customer acquisition, and customer service. We will support you with a mid-to-long term financial model of your pricing and growth strategy and scenario test your phased go-to-market options.