This post originally appeared on Design Thinking and was written by Paulina Wójciak and Sarah Cantu. Not too long ago, “streaming” music meant listening to the radio or watching music videos on MTV. If you really loved an artist, you would pay between $10 and $20 for a tape or CD and listen to their … Continued
[Webinar] Supercharge Your Revenue with Data-Driven Pricing!November 6, 2018
Last week we sat down with our friends at ProfitWell (formerly known as Price Intelligently) to discuss all things pricing. Patrick Campbell, the team’s CEO, gave us insight into how the ProfitWell team helps their clients perfect pricing to maximize profits.
If you weren’t able to tune in, don’t worry! Keep reading for the webinar highlights and recording.
Introduction: focus on the framework!
- What is your overall strategy for pricing?
- Most companies are not spending enough time on their pricing
- We live in a dense world when it comes to growth strategies, so nailing pricing is key!
Subscription growth has changed dramatically.
- Competition is rampant – 5 years ago, the average number of competitors for most companies was 3, but for companies started during 2017, that number is closer to 10.
- Sales and marketing channels don’t grow as quickly as they used to.
- Customer acquisition cost has increased dramatically, while customer willingness to pay has decreased.
You’re Growing Your Business Incorrectly.
- Historically, companies have focused almost exclusively on acquisition but it is incredibly expensive to acquire new customers.
- Monetization and retention are 4-8x more effective for growth than acquisition.
- A lack of focus on customer development lowers the potential life-time value of your service for your customer.
How You Can Take Advantage of the Market Through Pricing
- The one thing you must do when figuring out pricing is to talk to your customer! Set up a feedback queue however makes the most sense for your team.
- Value-based pricing is key, and that means understanding your customer.
- Add revenue values to your buyer personas to prioritize strategically.
- Survey your customers! There’s a right way to go about this.
- A recap of the most important takeaways from the webinar.
Thanks for tuning in! Have questions about optimizing your pricing or how to start collecting feedback from your customers? Reach out to Patrick Campbell at Profitwell (email@example.com) or Michael Nadelman at Qualaroo (firstname.lastname@example.org).
There’s no shortage of content about UI/UX, and the discipline itself is fast-moving. Whatever your primary interest—whether it’s accessibility, front-end design or user research—there’s a UX blog for you. So, how can you know which of blogs or news sources are worth exploring? Not to fear, we’ve done our own research and think that these … Continued
This post was written by Qualaroo team member Sarah Cantu. Have you ever tried to remember a close friend’s favorite type of sweet treat for their birthday or celebration, only to realize you have no idea what flavors they prefer? In fact, you’ve probably eaten sweets with this person on more than one occasion, only … Continued
The Net Promoter Score (NPS) has historically been the single key indicator of success for customer service teams across most industries.
At Qualaroo, we believe that user feedback is at the heart of the success of all businesses. Our mission is to make user research faster, easier, and more accessible for companies of all shapes and sizes.
When it comes to methods of gathering feedback, the gold standard for marketers is the in-person focus group. This format offers an opportunity to gather opinions, verbal feedback, and observation of attitudes about your product. However, focus groups can also be costly and time-consuming, which can be prohibitive for small teams or small budgets. But this shouldn’t hold you back from gathering high-quality feedback.
At Qualaroo, we know that user feedback should be integral to your UX and digital product strategy. After all, your product, sales, and marketing teams are not mind readers. User feedback contextualizes what your users want and eliminates the guesswork of product development.
How can you know what someone thinks when they aren’t vocalizing their thoughts or feelings? How do you solve problems for users who aren’t providing you with raw feedback (or any feedback for that matter)? This is a consistent challenge UX and marketing professionals face. Without a written response, reaction or review, it can be difficult to know how to improve your product and its user experience.
Over the past few months, we’ve made a number of updates to Qualaroo designed to make your experience better: like revamping our Sentiment Analysis and NPS reporting experiences. Today we’re excited to announce another such release: Qualaroo now supports Content Delivery Network (CDN)!
Like any field, there are ideas and best practices in web design and experience that have become central tenets. While these “laws” are meant to improve web usability and experience, they’re certainly not immutable.