SERVICES
PRICING
STRATEGY
Our Pricing Strategy reviews come in different shapes and sizes. At the smaller end it could be that you are launching a new product and want an experienced pair of eyes to review the pricing and packaging you are thinking of. At the other end of the spectrum, nothing beats the output of a full piece of pricing research.
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Some examples of Pricing Strategy services we can provide:
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Individual product pricing & packaging reviews
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Desktop based competitor reviews
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Pricing model changes and recurring revenue opportunities
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Analysis of sales & pricing data
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Comprehensive pricing research projects
PRICING
RESEARCH
Conducting pricing research provides powerful insight into the market's willingness to pay for products and features, as well as insight into competitor satisfaction. Our pricing research also covers feature prioritisation to ensure your teams are building out the most desirable and valuable features for your product strategy and roadmap.
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A more detailed overview and explanation of what pricing research can include can be found in our blog. Some of the most common elements include:
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Competitor satisfaction
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Product willingness to pay / van Westendorp Price Sensitivity Meter
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Feature prioritisation & future product roadmap insight
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Bundle optimisation through Conjoint Analysis
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Qualitative questions
PRICING
EXECUTION
Pricing execution can have a material impact on the revenue and margins of a business.
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Sales execution can vary across teams and individuals; as a result the prices achieved for similar size and shape deals can sometimes vary significantly.
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Pricing strategies at the renewal of an existing customer can have an even more material impact for more established companies; the renewal book is typically larger than their annual new business targets. Renewals events can bring more opportunities than just price increases alone.
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We can help review your renewals approach and renewal book to identify any opportunities such as:
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How far the renewal book is off list price
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Time since last uplifts
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Review of your standard contract and potential improvement
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Opportunities to improve Direct Debit
VALUE
CREATION
Pricing plays a core part of the value creation activities for Private Equity. Increasing prices in portfolio companies can have a significant impact on EBITDA and an even greater impact on exit Enterprise Valuation given typical multipliers involved.
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We have experience inside the private equity / portfolio company environment working with owners, C-Suite and boards to help identify where opportunities may exist.
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When working with Private Equity clients, we focus on seeking out the opportunities that can improve margins the most and seek results in a 1 to 2 year timescale. A Private Equity engagement can typically have three phases:
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Discovery - Identifying and agreeing the product area with the best chance of success to focus on
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Pricing Research - Design and running of pricing research in market and reporting findings
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Execution - Implementation of processes, organisational responsibilities and monitoring