How to Best Display Your Pricing: Interactive or traditional -
The way you display SaaS pricing should not be considered as an afterthought. It must be a strategy that's simple and easy for potential customers.
Pricing is a key way of building trust with your prospects, and when done right will help to build momentum into the sales funnel. It can be one of the most interactive, personalized and quantifiable elements of your sales process.
The first step to creating this experience is evaluating the strategies you employ to create, display and communicate your prices.
The ultimate antagonist is revealed in this scenario the ordinary Office Suite software.
If you're currently using the Office Suite software to display SaaS pricing, then it's time to make an update. Read on for expert advice regarding how to implement the change.
Things NOT to Do How to Display Pricing: Traditional Ways of Displaying Price
1. Sheets are used to display SaaS Pricing
The things you need to change: Using sheets does make it look professional. They're boring and manually-based, and the pricing must be different. It's not personal when using a sheet, and personalization is critical to building relationships with prospects. It is easy to get 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 to an online pricing tool. The company's CEO says:
"Leveraging an instrument for pricing can be a game changer since it permits you to be consistent, it lets you have the history of your progress in your hands which allows you to make decisions as you move forward using the historical information which is a lot easier method than digging up old proposals or looking through older versions of your worksheets."
The things you need to consider: Try incorporating personalized alternatives that will allow prospects to pick the right solution for them, when showing SaaS pricing models. To avoid the labour of spreadsheets, consider using a software program that stores all of prior quotes, so you can easily pull in prices and then automatically fill in calculations for prospects. That way, you no have to waste the time to create spreadsheets and manually doing the math for every new deal.
2. Use Slide Decks for Displaying SaaS Pricing
Slide Next slide...next slides... The next pricing strategy.
What should you modify: Sending decks to prospects seems like an easy way to showcase your pricing with a beautiful design. Though they appear to be engaging, decks are one-dimensional. By using slide decks you're wasting opportunities to gather information and develop a well-informed follow-up. Pricing should give you the upper over the competition and also reveal the number of times your potential customer views your pricing, and ensure they fully understand what pricing is presented.
A Seller's Advice That ChangedStefan Kollenberg, Co-Founder of Crescendo changed from slideshows to using an online pricing tool that gives insight and analytics in real-time. The company's founder claims:
"I will have my prices on the back of a sales deck with one page. I never knew if [the customers] were going into the deck to change it up, choose several options, or go through the different tiers that we had to offer. It's like you need to gather as much information you can on what pricing did well, and what didn't. ."
Things to consider: Without data from prior deals, you'll not be able to adjust to the needs of your prospective customers and determine the best way to serve your prospective clients. Think about using a software that allows you to gain information in real-time, and monitor all things related to pricing.
3. Use of Email for Displaying SaaS Pricing
How many emails can you get each day? Everyone has one answer, too many.
What should you modify: Scrolling through endless emails trying to find the right information can be time-consuming, and frankly annoying. Talking about your pricing via emails can extend the time required to complete the deal, as it's one of the most ineffective methods to convey price.
A Seller's Advice That Switched: Jack Hannah, Sales Team Lead at LinkSquares, moved from email for pricing communication to an interactive tool for pricing. He says:
"A large portion of our conversations took place in a conversational manner and would be followed up with an email summary to ensure certain that everyone understood what we were actually discussing. Now, we can actually share our screen and have a much more professional, structured conversation around price, which helps create a an easier conversation, which requires far less exchanges ."
The things you need to consider: Avoid the headache and ensure seamless communication with potential customers by employing a program designed to facilitate quick and easy messaging. This tool will enable your clients to locate what they are looking for swiftly, but it will also display all of the custom pricing as well as pertinent details in a clear manner.
4. Utilizing Collaborative Software to Display SaaS Pricing
Collaboration tools and software offer undisputed value to your selling processes, however If you're using them as your main pricing display tool, you're in for an unintentional mess.
The things you need to change: Collaborative tools such that are used to facilitate internal communication and brainstorming are not functional for displaying SaaS pricing. Making use of tools to show your prices can lead to making a non-sympathetic presentation and causing confusion for your prospective customers. There are a myriad of instruments designed to aid however, if you use tools for a price use that was not designed for pricing you are automatically running into a variety of difficulties that can cause a problem.
Tips from a seller That Changed Mike Pinkus, Partner at ConnectCPA was a former user of collaborative software to create an interactive price experience prior to when he switched to a pricing platform that incorporates interactivity into its heart. He says:
"We used an application that wasn't specifically created to be an online sales platform. It was certainly not professional, since we used it to serve a different purpose. Since we switched the cleanliness and professionalism. Everything is tidy and designed according to the goal of selling ."
The things you need to think about: Misusing software may seem like a time and cost-saving option however, in the long in the end, it could cause more issues than it can solve. Transferring your pricing process to software created to cater to your specific needs will benefit the business and create a better buying experience for potential buyers.
5. Utilizing PDFs for Displaying SaaS Pricing
There are many who have used the old-fashioned PDF. Sure, you could have had your graphic designer create the entire thing beautiful and brand-named, but unfortunately, it's really just a slow and useless way of showing SaaS pricing.
What you should modify: Prospects can't engage through the PDFs you offer the same way as they would with slide decks. Once your prospect downloads the PDF file, there's no way to determine how many times it was received or the number of instances it's been used. Editing or changing the content is a tedious process that eats up unnecessary time.
Advice from a Salesperson Who Changed:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing to life by switching from stagnant PDFs to interactive pricing.
"We had a PDF showcasing three pricing levels of the way we could be able to service our clients. We would edit [that PDFwhenever a customer showed up. We always tried to create both our spreadsheets and us pretty, but in doing so you can't give more detail. We no longer need to switch between these different tools for putting together a system, we can just use Interactive Quotes ."
The things you need to consider: The only interactive advantage PDFs provide is the option to sign the dotted line, but the truly interactive experience is able many more benefits than just closing the deal. Use pricing software that will give your prospect an engaging and personal experience starting with initial pricing discussions and ending with the signatures at the end.
How Should I Display my SaaS Pricing?
Pricing shouldn't be complicated, confusing or dull for your prospects.
The future of showing SaaS pricing will be an interactive personal experience that's simple for customers to interact with and understand. This means your relationship with the office software that displays SaaS pricing needs to be ended so that you can completely revamp the way you present your SaaS pricing strategy.
In order to refresh how you present SaaS pricing, focus on finding a tool for pricing which is suited to your requirements. Three areas that we recommend prioritizing in your search for the right tool:
1. Making use of a tool to simplify your job by reducing time and improving your efficiency and team's efficiency while delivering your price proposition to potential customers
2. Create an engaging and interactive buying experience for your prospects
3. Gaining an understanding of your pricing's performance using real-time data analysis.
More than ever before more than ever, it's crucial to cut down on time and perform your work effectively. Therefore, forget obsolete and confusing pricing. It's easy to step into a new pricing process that will help to work more efficiently, rather than harder, and increase the likelihood of closing deals more quickly.
