Course Slides
Communicating your value is the unshakeable core of a successful product-led growth strategy. If you have simple pricing tiers and plans, users will upgrade on their own. If you have complicated pricing or users have to reach out to understand your “unique” pricing model… game over, you’ve lost a ton of sales you didn’t even know you could win.
In this course, we’ll cover:
Wes Bush:
Hello, everyone. Welcome to Module Five, which is all about the monetization strategy for your business. Now, one of the reasons why we're going to be covering this topic, as it relates to making this transition from a sales-led to a product-led organization, is because many times, almost always in fact, whenever a company is making this transition from sales-led to product-led, the whole question around pricing pops up. How should we charge people? How should our users understand how they're going to be charged? Should we show our pricing? Should we hide our pricing? How do we make it easy for people to really figure out what is the plan that's right for them? So, when you're making this transition, your users are thinking all of these questions and you should be asking them to yourself as well, because it's going to help you understand how you can create a pricing structure and monetization strategy that really just aligns your incentives with your user's incentives.
Wes Bush:
I'm going to repeat that again and again, throughout this lesson, so bear with me as I go through it. But the main point I want to really drive home today with you is, we're going to cover these five different pieces as it relates to building a monetization strategy. So, first off, I'm actually going to just go in to a few different pricing mistakes that you'll see when you are making this transition from sales-led to product-led. Then, I want to share just the relationship that your pricing and customer acquisition model have, because it's much like an arranged marriage. We're trying to mix these two together, and if we don't take into account what each partner wants, things will get messy pretty quickly. Then, we're also going to have a little bit of an exercise to really just help you identify what is the best way for you to charge by?
Wes Bush:
There will be a worksheet that you can follow through along with this lesson, but I encourage you to go through this lesson first, and to get a feel for just how the activity's structured, and so you can get the most value out of that. Then, the last piece is just once we do figure out, okay, the right model for us to charge by, how do we really upgrade users? Because, isn't that the whole point of monetization, figuring an easy way for people to purchase our solution? Then, we have to get it across the finish line to make sure that well, it is in fact, easy for them to upgrade.
