How to Best Display Your Pricing: Interactive vs Traditional -
How you show SaaS pricing shouldn't be considered as an afterthought. It must be an effective strategy that's simple and easy for potential customers.
Pricing is one of the most effective ways of building trust with your prospect, and when executed correctly will help to build momentum into the marketing funnel. It is able to be among the most personal, engaging and quantifiable elements of the process.
The first step towards making this happen is to evaluate the methods you use to display, create and share your pricing.
The ultimate antagonist is revealed in this story the regular Office Suite software.
If you're using this Office Suite software to display SaaS pricing, it's time to give your pricing an update. Learn from an expert about how you can make changes.
Things NOT to Do How to Display Pricing: The traditional Ways to Display Pricing
1. Utilizing Sheets to Display SaaS Pricing
The things you need to make changes to: Using sheets does not show professionalism. They're dull and incredibly manually-based, and the pricing shouldn't be any different. You can't personalize your pricing making use of a worksheet which is why personalization is essential to building relationships with prospects. It's easy to become overwhelmed by numbers as well as they can be time-consuming to create.
Tips from a Seller Who Switched: Mike Wright, Co-Founder and CEO at MESH/diversity, switched from using spreadsheets and a pricing tool that is interactive. He tells us:
"Leveraging the power of pricing tools is an important step since it permits you to remain consistent. It also lets you have the past of the way you've changed to your fingertips as well as allowing you to make decisions when you're moving forward by relying on the past data which is a lot easier method than the old plans or looking through older versions of your worksheets."
What you should consider: Try incorporating personalized options that allow your prospects to select the best package for them when displaying SaaS pricing structures. For a better experience than using a spreadsheet, use a program that can save all of the previous quotations so that you can easily pull in the pricing of your competitors and instantly populate the calculations of prospects. This way, you don't require spending the time to create spreadsheets and manually doing the math for every new deal.
2. Using Slide Decks for displaying SaaS Pricing
Slide Next slide...next slides... NEXT pricing strategy. Please.
What you should modify: Sending decks to clients seems like a great way to showcase your pricing in a pleasing design. Though they appear to be engaging however, they're a single-dimensional. By using slide decks they are wasting an opportunity to gain insights and develop a well-informed follow-up. Your pricing will give you an upper hand and share with you the number of times your potential customer sees your pricing and also ensure that they are aware of the pricing that is being displayed.
Tips from a Seller who switched:Stefan Kollenberg who is the co-founder of Crescendo changed from slideshows to using the pricing tool which provides insights and real-time analytics. He claims:
"I could have my price on the back of the sales deck on one slide. I didn't know if the clients] would enter the deck in order to alter it, select several options, or go through the different tiers that we offered. It's like you need to collect as much information as possible on how pricing worked, what didn't ."
What you should consider: Without data from prior deals, you'll not be able to adjust for prospects and know the best way to serve your future clients. Think about using a software which allows you to gather insights in real-time and track all things price.
3. Use of Email to display SaaS Pricing
What number of emails do you get in a day? We all have the same answer: too many.
The things you need to modify: Scrolling through endless emails to try and find the correct information is time-consuming and frankly irritating. Talking about your pricing via emails can extend the time required to complete the transaction, since it's among the least effective methods of communicating price.
Advice from a Seller That Switched: Jack Hannah, Sales Team Lead at LinkSquares, moved from email to communicate pricing to an interactive pricing tool. He says:
"A lot of the conversations were taking place verbally and would be followed up by an email with a summary of the conversation to ensure sure both parties understood the topic we were talking about. Now, we can actually share our screen and engage in a formal, organized conversation around price, which helps create a an easier conversation, which requires much less back and forth ."
Things to think about: Avoid the headache and create seamless communication with your prospects employing a program designed to facilitate rapid and simple communication. It will not only let your customers find all the data they require swiftly, but it will provide all of their customized pricing and pertinent information in a clear manner.
4. Using Collaborative Software for Displaying SaaS Pricing
Collaboration tools and software offer irrefutable value in your selling process. However, if you're misusing the software for your primary price display tool, you're in for a mess.
What you should make changes to: Collaborative tools such that are used to facilitate internal communication or brainstorming, aren't suitable for displaying SaaS pricing. Utilizing tools to show your prices is a sure way of creating a disjointed presentation that can confuse your potential customers. There are numerous amazing tools designed to assist, but using tools for a price function that wasn't designed to be used to display pricing is a sure way of running into a variety of problems that may cause a problem.
A Seller's Advice Who Switched: Mike Pinkus, Partner at ConnectCPA, once used collaboration software to build an interactive pricing experience before switching to a pricing platform that incorporates interactivity into its heart. He says:
"We had an application that wasn't specially designed to be one for sales. It was certainly not professional, since we used it for the wrong purpose. After switching the cleanliness and professionalism. Everything is neat and organized in a way that suits the purpose for selling ."
Things to consider: Misusing software may appear like a cost-saving option but, in the end run, it will actually result in more problems than it can solve. Making your pricing procedures more flexible with software designed to address the specific requirements of you while also creating an improved buying experience for potential buyers.
5. Utilizing PDFs to Display SaaS Pricing
Many of us have resorted to the good old classic PDF. Yes, you've could have had your graphic designer create everything beautiful and branded however, the truth is that it's really just a slow and unproductive way of displaying SaaS pricing.
The things you need to modify: Prospects can't engage through the PDFs you offer the same way as they would with slide decks. After your prospective customer downloads the PDF file, there's no way to determine how many times the file has been accepted or how many instances it's been used. Editing or making changes to the document is a tedious process that takes up a significant amount of time.
Advice from a Salesperson Who Changed:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing into the 21st century by changing from static PDFs to dynamic pricing.
"We have a PDF that outlines three pricing levels of the way we could be able to service our clients. We would edit [that PDFwhenever a customer came knocking. It was always our goal to make the spreadsheets and ourselves attractive, but by this way, you don't have as much details. We no longer need to play around with all of these different tools to put together a package We can make use of Interactive Quotes ."
The things you need to consider: The only interactive benefit that PDFs can provide is the option to make a signature on the line -- but a truly interactive experience has the potential to provide more than simply closing the deal. Utilize pricing software to give your prospect an engaging and personal experience beginning with the initial price discussions to the final signatures.
How should I display my SaaS Pricing?
Pricing shouldn't feel confusing, messy or boring to your customers.
The future of displaying SaaS pricing will be an interactive, personalized experience that is simple for customers to interact with and understand. This means your relationship with the office software that displays SaaS pricing should come to an end for a complete overhaul of your SaaS pricing plan.
For a fresh approach to display SaaS pricing, concentrate on finding a tool for pricing that fits your needs. The following three areas are worth to prioritize when searching to find the best tool are:
1. Making use of a tool to help you work more efficiently by saving you time, improving your efficiency and team's efficiency in presenting your pricing to your prospects
2. Engaging and stimulating purchasing experience for potential customers
3. Gaining an understanding of the performance of your pricing through live analytics.
Now more than ever now, it's important to reduce time spent and be efficient. Therefore, forget obsolete and confusing pricing. It is possible and easy to step into a new pricing system that can help to work more efficiently, rather than harder, and increase the likelihood of closing transactions faster.
