How strategic are you about the pricing of your product or service? Today’s guest for Coffee with Closers shared a very interesting insight. The average amount of time a company spends on their pricing each year is less than 15 hours. Not a month, not a week, 15 hours total throughout that year. And if you compare this to the amount of time and effort you spend on your office space or your remote culture and so on, it is not nearly as enough as it should be.
Why is pricing so critical, though? There are three really big growth levers in your business – acquisition, monetization, and retention. Half of your time and budget are going to be spent on acquisition, but a bulk of your growth is going to come from good retention and proper pricing. Anyway. Let’s not reveal all the secrets 🙂
I want you to meet Patrick Campbell, CEO & Founder of ProfitWell – the software for helping subscription companies with their monetization and retention strategies. Patrick led Strategic Initiatives for Boston-based Gemvara and was an Economist at Google and the US Intelligence community. But against all odds, he ended up being an entrepreneur. Watch this interview to learn more about his fascinating journey.
In this episode, we are talking about first-time entrepreneurship, decentralized leadership, freemium pricing, and other strategies.
- How can servant leadership help build a feedback-driven, open culture?
- What pricing strategies are working well for SaaS companies?
- How not overcomplicate the sales process if you have a slightly more complex pricing model?
- Why is pricing not a single-move but rather a multi-move game?
- How to build a potentially sellable business?
►Find Patrick Campbell on LinkedIn: https://www.linkedin.com/in/patrickccampbell/
►Visit ProfitWell at https://www.profitwell.com/