Innovative Pricing & Packaging Strategies (Accelerate East)
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Innovative Pricing & Packaging Strategies in the Subscription Economy
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Innovative Pricing & Packaging Strategies (Accelerate East)
- 1. Marke1ng Panel – Innova&ve Pricing & Packaging Strategies Brian Bell CMO, Zuora @brianbell123 1 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 2. In The Subscrip1on Economy, Focus Is On Rela1onships BUY NOW Product 2 SUBSCRIBE Relationships Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 3. Three Strategic Growth Levers in Subscrip1on Based Businesses Acquire New Customers 3 Increase Value of Your Customers Zuora confidential, shared under non-disclosure and subject to disclaimer notice Reduce Churn
- 4. Pricing and Packaging Supports Your Key Growth Strategies $ PRICE 4 ITERATE Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 5. How Do I Get My Arms Around My Pricing Strategy? How do I balance growth & revenue? How do I improve Time-To-Market & operationalize? How to I think about choice vs. simplicity? Do I price for new accounts or existing? How do I price vis-à-vis competition? CMO 5 5 Zuora confidential, shared under non-disclosure and subject to disclaimer notice Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 6. Pricing in the Product World $ Price PROFIT Cost TIME 6 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 7. In The Subscrip1on World, Pricing is Based on Recurring Usage 7 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 8. Consumers Have Unique Needs 8 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 9. It’s a Compe11ve, Dynamic Market Pricing & Packaging becomes a Powerful New Strategic Weapon 9 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 10. The Challenge: Where to focus & start? C O M P L E X I T Y MulHple Currencies Pricing Tiers Add-‐On Products Usage & Overage Product Upgrade Product Bundles A/B TesHng Simple Monthly Different Billing Recurring Frequencies Company Launch Revenue Enhancement Product Expansion Pricing International Optimization Growth BUSINESS MATURITY 10 Regional Pricing Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 11. This is Not Where to Start 11 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 12. Con1nued… 12 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 13. And Con1nued Again… 13 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 14. Start Simply & Iterate 1 Simple Recurring Model 14 2 Basic Itera&ons 3 Zuora confidential, shared under non-disclosure and subject to disclaimer notice More Advanced Op&ons
- 15. Four Basic Subscrip1on Price “Metrics” 1. One-time Product Relationships 15 1. 2. 3. 4. One-time setup Fixed recurring Per unit/user Usage models Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 16. Consider Fixed Recurring Model to Start Focus on Core Value Prop for Target Customers 16 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 17. As You Iterate, Add More Basic Op1ons 1 Simple Recurring Model 17 2 Basic Itera&ons 3 Zuora confidential, shared under non-disclosure and subject to disclaimer notice More Advanced Op&ons
- 18. Use a Promo1onal Strategy to Acquire Customers Offer full trials to drive adop&on Offer Full Trials to Drive AdopHon 18 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 19. Consider a Freemium Strategy Give Away Base Product to Rapidly Acquire Customers 19 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 20. Bundling Strategy Offer Flexibility & Cross-‐Sell Offerings 20 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 21. Longer-‐Term Op1ons to Lock In Customers Reduce Churn & Increase Commitments (TCV) 21 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 22. More Advanced Op1ons 1 Simple Recurring Model 22 2 Basic Itera&ons 3 Zuora confidential, shared under non-disclosure and subject to disclaimer notice More Advanced Op&ons
- 23. Usage Based Pricing Pay as You Go & Limit Risk For Customers 23 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 24. Interna1onal Pricing Strategy A US Pricing B Asia Pricing Address Different Market & Segment Requirements 24 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 25. Test and Iterate Pricing ITERATE OpHmize Both PromoHonal and Core Pricing Strategies 25 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 26. Be Mindful When Making Changes Talk to Customers & Communicate Changes EffecHvely 26 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 27. Lessons From Our Customers 1. Pricing and packaging is a new strategic weapon 2. Start simply…then iterate with more basic strategies 3. Four basic pricing metrics for subscripHon businesses 4. Leverage a free promoHonal strategy 5. Test, test, test 6. Be mindful of communicaHng and deploying changes to your customers 27 Zuora confidential, shared under non-disclosure and subject to disclaimer notice
- 28. Meet The Panelists ScoutAnaly&cs Ma^ Shanahan, SVP Strategy and Marketing @ScoutAnalytics uKnow.com TeleshuMle Steve Woda, CEO Richard Reisman President @SteveWoda @rreisman Zuora Brian Bell, CMO @brianbell123 28 Zuora confidential, shared under non-disclosure and subject to disclaimer notice SailThru Dave Govan EVP Sales
- 29. END 29 Zuora confidential, shared under non-disclosure and subject to disclaimer notice