What is the best way to display your Pricing: Interactive vs traditional -
The way you display SaaS pricing should not be an afterthought. It must be a method that should be engaging and straightforward for potential customers.
Pricing is a key way of establishing confidence with the prospect and when done right it can help build momentum within the marketing funnel. It is able to be among the most interactive, personalized and quantifiable elements of your process.
The initial step in creating this experience is evaluating the methods you use to display, create and share your pricing.
You will meet the most powerful villain in this scenario the regular Office Suite software.
If you're using the following Office Suite software to display SaaS pricing, it's time to make an overhaul. Read on for expert advice on how to make the change.
What NOT to do How to Display Pricing: Conventional Ways to Display Pricing
1. Utilizing Sheets to Display SaaS Pricing
What you should make changes to: Using sheets does make it look professional. They're boring and manual - and your pricing shouldn't be any different. It's not personal when using a sheet which is why personalization is essential in building relationships with prospective customers. It is easy to get overwhelmed by numbers as well as they can be time-consuming to create.
A Seller's Advice That Changed Mike Wright, Co-Founder and CEO of MESH/diversity switched from using spreadsheets and a pricing tool that is interactive. He says:
"Leveraging an instrument for pricing can be a game changer since it permits you to remain consistent. It also gives you the past of your progress at your fingertips, and it allows you to make decisions as you move forward by relying on the past data which is a lot easier approach than digging up old proposals or looking back through old versions of your spreadsheets."
Things to think about: Try incorporating personalized alternatives that will allow prospects to pick the right package for them when displaying SaaS pricing models. To avoid the labour of a spreadsheet, use a software program that stores all of your previous quotes so you can easily pull in the pricing of your competitors and instantly populate the calculations of prospects. So, you will no have to waste hours creating spreadsheets or making calculations manually to calculate every deal.
2. Use Slide Decks for Displaying SaaS Pricing
The next slide...next Slide... The next pricing strategy, please.
What you should make changes to: Sending decks to clients seems like a great method of displaying your prices in a pretty layout. Though they appear to be engaging, decks are one-dimensional. If you are using slides decks, they are wasting opportunities to gather information and develop a well-informed follow-up. Pricing should give you the upper edge and let you know how often your customer sees your pricing and make sure they understand the price being displayed.
Advice from a Seller who switched:Stefan Kollenberg, co-founder of Crescendo changed from slide decks and instead used an online pricing tool that gives insights and real-time analytics. The company's founder states:
"I will have my prices at the bottom of the sales deck in one slides. I never knew if [the customers] were going into the deck in order to alter it, select different options or look at the various tiers we were offering. The idea is to get as much data you can on what pricing was effective, as well as what did not ."
Things to consider: Without data from prior deals, you'll not be able to make adjustments for future customers or know what works best for your prospective customers. You should consider using a tool that lets you gain insights in real-time and keep track of everything related to pricing.
3. Use of Email to display SaaS Pricing
How many emails can you receive in the course of a single day? We all have the same answer: too numerous.
What should you change: Scrolling through endless emails trying to find the right information can be time-consuming and frankly irritating. The act of expressing your price via emails can extend the duration required to conclude the transaction, since it is one of the least effective methods of communicating pricing.
Advice from a Seller Who Switched: Jack Hannah, Sales Team Leader at LinkSquares, switched from using email to communicate pricing to an interactive tool for pricing. The sales rep says:
"A majority of conversations took place in a conversational manner and then followed with an email summation in an effort to make sure that both parties knew what we were actually talking about. We're now able to effectively share our screens and have a much more formal and structured discussion about price. helps create a an easier conversation, which requires more minimal back and forth ."
The things you need to consider: Avoid the headache and ensure seamless communication with your prospects making use of a software designed for quick and easy communication. It will not only let your customers find all the data they require quickly, but it will show all the custom pricing as well as pertinent details easily.
4. Utilizing Collaborative Software to Display SaaS Pricing
Collaborative tools and software have irrefutable value in your selling processes, however if you're misusing the software as your main pricing display instrument, then you're likely to get into a mess.
What should you modify: Collaborative tools such that are used to facilitate internal communication or brainstorming, aren't suitable in displaying SaaS pricing. Making use of tools to show your prices is a sure way of producing a disorganized presentation, that can confuse your potential customers. There are numerous amazing tools designed to assist however, if you use a tool for a pricing function that wasn't designed to be used for pricing you are automatically going to run into many problems that may cause a problem.
Tips from a seller That Changed Mike Pinkus, Partner at ConnectCPA previously used collaborative software to create an interactive experience for pricing before he switched to a pricing platform that incorporates interactivity into the heart of it. He says:
"We had an application that wasn't specifically designed as being an online sales platform. It definitely lacked professionalism because we were using it for the wrong purpose. Now [after switching] the cleanliness as well as professionalism. All is neat and organized according to the goal of the sales ."
What you should consider: Misusing software may seem like a time and cost-saving option but, in the end time, it can result in more problems than it can solve. Moving your pricing processes into software designed to address its specific needs will support the business and create more enjoyable buying experiences for your customers.
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 the entire thing beautiful and brand-named however, the truth is that it's really just a slow and unproductive way of displaying SaaS pricing.
What you should modify: Prospects can't engage through the PDFs you offer them - much like using slide decks. Once your prospect downloads the PDF, there's no way to determine how many times the document has been received or how many instances it's been used. Editing or making changes to the document can be a lengthy process and eats up unnecessary time.
Tips from a Salesperson Who Changed:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing up to date by moving from stagnant PDFs to interactive pricing.
"We were given a pdf that showed three pricing levels of how we would be able to service our clients. We would edit [that PDFeach time a potential client came knocking. We would always try to make ourselves and our spreadsheets beautiful, however in doing this, we couldn't provide more information. There is no need to ruffle between all of the different instruments for putting together a system, we can just use Interactive Quotes ."
What you should consider: The only interactive advantage PDFs provide is the option to make a signature on the line -- but an interactive experience needs the potential to provide more than simply signing to close. Make use of pricing software that can offer your client an experience that is personalized and interactive from first pricing conversations to the final signatures.
How Should I Display my SaaS Pricing?
Pricing shouldn't feel complicated, confusing or dull to the people you're trying to sell it to.
The future of displaying SaaS pricing will be an interactive customized experience that's easy for prospects to engage with and grasp. This means your relationship with office software to display SaaS pricing should be ended in order to totally refresh the SaaS pricing strategy.
To refresh the way you display SaaS pricing, you should focus on finding a pricing tool that fits your needs. The three areas we suggest prioritizing in your search for the perfect tool are
1. Using a tool that will help you work more efficiently by reducing time and increasing productivity, and improving your team's efficiency while delivering your pricing to your prospects
2. Creating an interactive and engaging shopping experience for buyers
3. Gaining insights into your pricing's performance through real-time analytics.
Today more than ever, it is important to reduce time spent and be efficient. Don't be a slave to obsolete and confusing pricing. It's possible and simple to adopt a fresh pricing system that can help to work more efficiently, not harder, while increasing your chances of closing deals more quickly.
