Even as UX design and user research are becoming a more prominent focus in today’s leading companies, it can still be tough to get executive leadership onboard with user research-related initiatives. We know the struggle.
[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).
This post originally appeared on UsabilityGeek.
This post was written and contributed by Alex Birkett of Hubspot.
Understanding the steps users take as they interact with your brand and how they feel along the way is crucial to managing in today’s digital experience landscape. A customer journey mapping tool gives you the ability to put yourself in a customer’s shoes and see what the end-to-end experience is like. By visually representing this process, you can begin to understand which of your company’s touchpoints bring joy and which cause frustration for the customer.
We all know that user feedback is important, that goes without saying. It should be the primary source of information you look to if you’d like to improve your user’s experience and your product itself.
Sometimes it feels like apps, tools, and services we use are an extension of the work that we do. That’s especially true if you work in UX, product management, or any sort of design. UX tools do a lot of heavy lifting when it comes to user research and design.
This post originally appeared on Design Thinking and was written by Paulina Wójciak and Sarah Cantu.
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 19 UX blogs are where it’s at.
This post was written by Qualaroo team member Sarah Cantu.
The Net Promoter Score (NPS) has historically been the single key indicator of success for customer service teams across most industries.