Service Pricing Analysis
The organisation had developed a new service that allowed members to integrate the business’ database directly with their procurement software platforms and needed to determine the best pricing strategy.
- To analyse the business’ current data around members, revenue and searches.
- To translate the analysis into a pricing strategy for the new service.
- A summary of the analysis including current membership pricing, revenue breakdown, search data by industry and location, and different pricing strategies and methods.
- This resulted in final recommendations for a tiered pricing strategy.
- Our pricing analysis provided the client with clear options that would drive sustainable growth and more value for clients.
Top 3 Tips
Clients that develop a new pricing strategy should:
- Understand who their members are and conduct research to obtain accurate pricing tiers to fit their business.
- Understand the value their members expect to receive at each of the pricing tiers and offer multiple pricing tiers for their different member personas.
- Create the right pricing model and structure to align with their business strategy.