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Every startup has holes in its pricing strategy and is leaking money everywhere.
If you don’t believe me, consider these questions:
- Did you guess the price of your product?
- Are you curious if you could make more money with another pricing plan?
- Have you kept your product’s price the same for the last year or longer?
- Are you wondering if you should do a demo or offer self-serve pricing plans?
- Do you wish you knew whether you should offer a free trial, freemium plan, or no “try it first” plan at all?
If you can answer “yes” to one of these questions, then you’re almost certainly leaving a lot of money on the table.
And a pricing analysis will fix that problem to help you find quick wins to get 1,000 customers in a year.
What is a pricing analysis? And why is it critical for early-stage SaaS startups to grow faster?
Price is always a consideration in the buying process. This is true regardless of what some copywriters and sales reps may promise.
So when your customers are deciding if they should buy from you, they are asking at least three pricing questions:
- What is the expected value of the results I want?
- How likely is it that I’ll get the results I’m looking for or something better?
- How much is the investment to get the results I want?
A pricing analysis will help you know how to adjust your pricing to put your customers at ease as they consider these questions.
But what exactly is a price analysis?
Price analysis is the process of understanding your customer’s response to certain prices for an offer.
How does Growth Ramp do a pricing analysis to help you get 1,000 customers in a year?
All our product marketing services take a customer-first, product-led growth strategy. That includes our method for creating your pricing strategy to get 1,000 customers in a year.
After a round of pricing research, we’ll synthesize and analyze the data to find opportunities that will add more money to your bottom line. Then we’ll create a go-to-market strategy to make you more profitable.
For example, let’s say our data shows that you…
- Underpriced your product. We’ll lock your current customers in at the current price to reward their loyalty. Then we’ll run a price increase campaign to leverage up-sells and new customer acquisition.
- Should create a freemium plan. We’ll validate what features should be in the freemium plan so you don’t lose your current customers. Then we’ll encourage them to refer a friend to the freemium plan.
- Have an opportunity to create a new pricing tier. We’ll interview your customers to validate what features they want in the new pricing plan. Then we’ll pre-sell them on the plan to reduce your risk of building something no one wants.
In other words, when you work with Growth Ramp, you get everything you need to scale your growth. More specifically, you’ll get the strategy and execution to get 1,000 customers in a year.
How is Growth Ramp different than price consulting firms that offer pricing analysis services?
Very few marketing agencies offer pricing research for early-stage SaaS startups. We discovered this by surveying our competitors.
This will lower your conversion rates if your growth strategies do not work together.
Now consider the value of Growth Ramp’s pricing research services when combined with our product marketing services:
- You don’t need to run several market research studies, which saves you money. One study gets you massive results to optimize your positioning, pricing, and go-to-market strategy.
- We understand how pricing fits with your full marketing strategy. We won’t sacrifice one growth lever for the benefit of another lever.
- Most founders underprice their product. So, after our price analysis, we’ll run a price increase campaign which often pays for the initial investment in 2-6 months. Which means you continue getting more growth for months to come.
If you’re looking for a quick win to make more money, apply to hire Growth Ramp today. We’ll optimize your pricing, positioning, and go-to-market strategy to get you 1,000 customers in a year.
Ben Leavitt, CEO of Decibite
"Growth Ramp’s strategy more than doubled our annual recurring revenue (ARR) in 6 months... They pushed us further in one month than a year on our own..."
Before we started with Growth Ramp, we had no idea who our target customer was. Marketing has been a frustrating process for us at Decibite.
Growth Ramp interviewed our customers, did market research, showed us where we were, and who we wanted to help. Growth Ramp then executed the strategy which more than doubled our ARR in 6 months. This was a huge game-changer. They did everything that we were wanting to do and more. This was a huge weight off my shoulders and helped me avoid burnout.
Growth Ramp got us back on track and their efforts have pushed us further in one month than a year on our own. Working with Growth Ramp was like riding on a couch getting pulled behind a ski-doo. Sometimes you’ll get a little snow on your face, but it was the exciting ride we were looking for.
6 Month Results:
- ARR: +127%
- Total Monthly Traffic: +241%
- Monthly Search Traffic: +331%
Let Growth Ramp’s marketing experts do the heavy lifting for you to get 1,000 customers in a yearApply to Hire Growth Ramp
Want to learn how our pricing analysis fits into our product marketing process to help you get 1,000 customers in a year?
Here’s a 18 min. overview of our product marketing methodology 👇
Stop dealing with marketing by yourself. Work with Growth Ramp, an agency that knows strategy better than you do...Apply to Hire Growth Ramp
Brenden Mulligan, CEO of Podpage
“After the price increase campaign, we’ve been adding new customers at the same growth rate. I made my money back in two months as Growth Ramp promised…”
Marketing hires are very hard. Everyone I talked to told me I needed at least six months to start seeing results. None could prove to me they understood my market, my product, or my customers.
When I approached Growth Ramp, I was coming in cold. But they estimated I could make it all back with a price increase campaign in two months.
In two months, I got data from my customers on my pricing, why some weren’t buying, what features to add for a new price plan, and so much more. If I were to hire a general manager or CMO, I’ll use Growth Ramp’s research to ramp them up. They then handed me everything I needed for the price increase campaign on a silver platter.
After the price increase campaign, we’ve been adding new customers at the same growth rate. We didn’t lose a single customer from the price hike and customers did not question the change. Furthermore, I made my money back in two months as Growth Ramp promised.
I don’t think enough founders are focusing on pricing to optimize their growth strategy. You may have a gut feeling about the right price of your product. But without data, you’re likely leaving money on the table.
Pricing analysis tactics and techniques to get 1,000 customers in a year
- Use data sources to find extra revenue.
- Reduce price leakages that kill profit margins.
- Discover customer segments willing to pay a premium.
- Scale profitable promotional campaigns with more informed decisions.
- Real-time cost-benefit analysis for rapid pricing decision making.
- Test pricing changes with custom pricing analytics tools and automation.
- Optimize price for market share and profitability.
- Discover pricing plans that are too cheap or too expensive.
- Create structured pricing models for a new product.
- New product optimal price point analysis.
- In-depth price benchmarks and metrics.
- End gut-reaction price changes.
- Run price optimization campaigns.
- Indirect and direct pricing research.
- Qualitative market research.
- Customer segmentation pricing studies.
- Discover market factors that influence price on a granular level.
- Revenue and demand curves to test price elasticity.
- Advanced analytics analysis for pricing improvements.
- ROI-focused growth.
Growth Ramp is a product marketing agency that makes SaaS startups more money faster and get 1,000 customers in a year...Apply to Hire Growth Ramp
Ronit Epstein, ex-Director of Marketing at Yotpo
"One of the most SEO-optimized articles on our site…"
When it comes to getting more traffic, Jason and his team are one of the first we turn to. One of Growth Ramp’s articles was one of the 7th most SEO-optimized posts for Yotpo after two months.
Can I give you some advice? Hire Growth Ramp before your competitor does.
More product marketing services we’ll use to help you get 1,000 customers in a year
All the services you’ll get so you don’t have to deal with the marketing headache when you hire Growth Ramp...
https://www.growthramp.io/start?ref=serivce-page-pricing-research-bodyStartup life is not for the faint of heart. One too many mistakes and your better-funded competitors will eat you for lunch. That’s why you are data-driven. So why should your approach be any different when it comes to pricing?
Picking your price isn’t easy without data. Growth Ramp will get you the data you need to optimize your pricing to grow faster. Learn about our pricing research services →
You have the research to confidently price your product. Your pricing expert found wins in your data. You have your pricing strategy in place to know where you need to go.
Now it’s time to put your strategy into action and start making more cash-money. Learn about our pricing optimization and execution services →
Johnathan Dane, CEO and Founder of Klientboost
“Over 20% increase of client leads worth $25,000 or more…”
Do you know when you're super excited to finally stay consistent with your blog? And then someone like Jason comes around, smacks you in the face, and tells you when you're shooting yourself in the foot?
I didn't believe Jason at first, but we saw an increase in over 20% of inbound client leads that have LTVs of $25,000 or more. If you're not promoting what you sweat to create, then you won't get as far as you can.
3 Month Results:
- Inbound Leads: +20%, with LTVs of $25,000+
- Social Media Traffic: +191%
- Total Monthly Traffic: +88.9%