When starting your competitive research, the first order of business is creating a list of your competitors. Since this task often falls to someone who’s doing this for the first time, I thought it helpful to list some tips to complete the list.
There are many ways to interpret the word Platform (Solutions Platform, Technology Platform, Industry Platform), and thus it’s hard to say if the word could help you or hurt you. It’s exactly this ambiguity though, that should have you think twice before you decide to aspire to be a platform.
When developing your pricing strategy for SaaS, don’t forget to apply the fundamental rules that have been proven to work for hundreds of years. Don’t just have 3 price plans. Make each plan do it’s job.
Every company can benefit from thorough Competitive Research. Ideally, you collect enough information to be able to position your products and services in a way that gives you an edge with your ideal client persona. Here is a template and a plan to let your team do your first study.
Until you reach this point, you need to be on your guard before you commit to a certain vertical, segment, Go-To-Market or business model, as you really don’t know if your customers are still mostly made up of Early Adopters who happened to just like what you’re doing. Read on to find the definition.
Based on various research studies, there is a proven way to announce a price increase. The approach combines the increased value/capabilities your service has provided over time, with anchoring that value at a higher price point than the actual price increase.
When to pick Freemium/Premium vs. Try/Buy as your conversion strategy?
What are the trade-offs?
How can you quickly determine how to structure your freemium and premium offering? What to ask money for? And what to sell as an add-on? This easy matrix exercise can help.
Getting the length of the trial period right is key for a successful Try/Buy model. 1 week? 30 days? 1 year? All can be the right answer. Read more about trade offs between length of on boarding, experiencing value and converting to buy.
To start a planning session to optimize pricing, drive ARPU expansion, or do product roadmap planning, this survey to run before the planning session will not only save time, but also limit “group think” effects.