What does a pricing consultant do?
We’re a product consultancy that focuses on innovations in pricing for technology products, platforms, and services. We uncover your optimal monetization opportunity, and then design the product and service packaging that delivers that opportunity. While we begin by setting up a pricing and monetization strategy for your portfolio of offerings, the real value we bring is in identifying where true growth lies and how the right pricing architecture might help achieve that.
What's included in the Pricing Canvas™ Workshop?
The Pricing Canvas ™ Workshop has three distinct phases. We first submit a detailed data request and conduct discovery interviews with your team. Then, we work together through a half or full-day workshop to draft a Pricing Canvas™ that is specific to your pricing opportunity. Finally, we re-engage for another session, a week or two later, and review the pricing plan that your team put together based on the workshop.
What's a Rapid Pricing Assessment™?
Rapid Pricing Assessment ® is an opportunity analysis to quantify your optimum monetization potential. We work rigorously with your team and create a value model of your offerings using the principles of the Pricing Canvas™. Then, we determine a high-level pricing architecture and validation plan for you to test and deploy.
What can a new pricing strategy do for us?
Pricing is one of the most powerful levers to transform a good product into a good business. A key set of metrics such as profitability, average revenue per customer, conversion, customer lifetime value, and retention are all driven by your pricing strategy, structure, and model.
What's your process like?
First, we discover the optimal pricing architecture, model, and mechanisms specific to your space and product lifecycle. We then use that learning to configure and/or reconfigure your product and offer structures. Next, we field test and validate your new product and service pricing, quantitatively. Finally, we help you align your product, offer, pricing, and cost structures with your go-to-market plan.
What does a good pricing strategy look like?
Your pricing strategy aligns your product, offer, and pricing structures with your overall growth strategy. Getting pricing right means identifying the pricing architecture, model, and mechanisms that drive acquisition, monetization, and profit growth - all at once.
What's in a pricing architecture?
Your pricing architecture is key to aligning your prices with each of your customer types. A good pricing structure is one that maximizes the lifetime value of different types of customers. This is an area where many product owners and marketers experience great difficulty, especially in fencing their new offerings in relation to their current offerings.
How do you determine willingness-to-pay?
We have 40+ qualitative and quantitative methods that we apply to collect data and insights from your customers, non-customers and prospects, and model willingness-to-pay and segmented price sensitivity.