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:
Let's just go through a student example here. So I'm going to go through attest.com. And so we're just going to dissect their pricing model and really just give you a better understanding of how they charge and what might be some of the good things they're doing, as well as where's some places they could improve. So I'm just going to pull up Attest here to give you a little bit more context before we dive into the plans.
Wes Bush:
This is their business. So consumer research made accessible, actionable, and a bunch of other things. You can essentially craft surveys, select your exact audience, and analyze the results all in one place. So I'm feeling pretty confident I understand what this product is. It's really just going to help me do consumer research fast because I can select my audience, analyze complex results all in one place.
Wes Bush:
And okay, so you can draft question, select audience, and analyze results. There's literally three steps here. That is fantastic how easy this is. De-risking your campaigns, get that feedback, optimized your product launches. Amazing. So I'm not going to go too deep into what the product does here, because the purpose of this is to really just go through the plans and the monetization strategy. So I'm just going to go through these three plans, and get rid of this that'll pop up here. So plans to suit your needs, get started for free today. So they're leading with the free plan that's where they want me to convert. For individuals or teams that want to send surveys on their own to their own contacts. Okay. So this is very interesting and this makes a ton of sense for the free model, because they're not going to let me send it to their, maybe their marketing analysts or like specific demographic for their market research.
Wes Bush:
But if I bring my own party, yes, I can get insights. So that's still super valuable. And six question types, unlimited user accounts. Okay. So there's good breakdown here. I do like check boxes. It does give me when I see the access a little bit of FOMO, like, "Hey, wait a minute. Do I need that? Do I want access to the 44 global markets? Do I want access to a dedicated account manager?" Maybe, that might sound kind of useful. So then I go to growth and I start getting kind of confused pretty quickly. So it's for teams that want to learn more about consumers, providing access to a large and diverse audience of people in the US and UK. So that's interesting why it's just US and UK. And then when I scroll down here, I see, okay, so I got to pay extra for that or contact them, which is fine then.
Wes Bush:
Then I also see that there's a little bit of a scroll saying, I wasn't quite sure how it worked initially, to be honest, since I just see these little arrows and there's too much of a background around that scroll box, which could be definitely improved to make it easier for people to understand how to use it. But okay, I'm just going to go through this part. So I get access to 1000 credits per month. First off I'm thinking, "Okay, so I'm going to use your company to get a lot of consumer research fast and I am being sold on credits per month." So one credit equals one response to one question. For example, 2,500 credits will get you 250 responses to 10 questions. Does anyone else feel confused? Now, right now I am scratching my head trying to figure out, "Huh, how much responses do I need? In fact, is this the typical way I will do surveys and like charge by this?"
Wes Bush:
So I'm not sure to be honest, do I need to spend 420 a month or 975 per month? So when we go back to just the simple test here. Is it easy for the customer to understand? Not quite. Is it aligned with the value that the customer receives in the product? Yes, it is definitely. So check on that one. It's not all bad. Grows with customer's usage of that product? Yes, if I want more surveys, consumer research, it does grow. So it's really just two out of three we got here. We need to solve for the first one. This is the hardest one. We got to make sure that it's easy for the customer to understand. So let's try and think about this. Let's brainstorm some ways here, on the spot to think about instead of credits, maybe it's something else, because we're getting questions.
Wes Bush:
Okay, so one question, one response. What is another way we could do this? Why not just make one credit equals I guess, one response to one question. But if per question. No, that wouldn't work either. So I do see that there is... I'm laughing at myself because I'm like, well, I see the reasoning behind that, but how else would you charge by it? But the fact that I had to, we even have this, for example, like breaking it down for the 250 questions, it does make it a little bit complicated because people might have to pull out a calculator or something on their ends to figure it out. So I don't actually have something on the spot I did try. So we can come back to that, but it just didn't pass the test for being easy to understand, but that's fine. That's the purpose of this lesson. We're going to figure out what is some other ways we could help people understand how we charge by our product's value.
