How To Display Your Prices: Interactive vs. Traditional -
How you show SaaS pricing should not be considered as an afterthought. It must be an effective plan that should be engaging and straightforward for potential customers.
Pricing is an essential method of building confidence with the prospect and when it is done correctly it can help build momentum within the selling funnel. It is able to be one of the most interactive, personalized and sustainable elements of the process.
The first step to creating this experience is evaluating the methods you use to create, display and share your pricing.
The ultimate antagonist is revealed in this story the standard Office Suite software.
If you're currently using the Office Suite software to display SaaS pricing, then it's time to provide your pricing with an overhaul. Read on for expert advice on how to make the change.
Things NOT to Do How to Display Pricing: The traditional Ways of Displaying Price
1. Utilizing Sheets to Display SaaS Pricing
The things you need to modify: Using sheets does do not reflect 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 in building relationships with prospective customers. It is easy to get lost in the numbers, and they're time-consuming to build.
A Seller's Advice Who Switched: Mike Wright, Co-Founder and CEO at MESH/diversity switched from using spreadsheets and a pricing tool that is interactive. He says:
"Leveraging a pricing tool is an important step because it allows you to stay consistent. It allows you to have the history of your progress to your fingertips which allows the user to take decisions in the future by relying on the past data and in a more efficient method than the old plans or re-reading old versions of your spreadsheets."
What you should consider: Try incorporating personalized choices that let your customers to select the best package for them when displaying SaaS pricing structures. To eliminate the hassle of a spreadsheet, use a program that can save all of the previous quotations so that you are able to easily import the pricing of your competitors and instantly populate the calculations of prospects. So, you will no have to waste the time to create spreadsheets and manually doing the math to calculate every deal.
2. Using Slide Decks for displaying SaaS Pricing
The next slide...next Slide... Next pricing strategy, please.
What you should modify: Sending decks to clients seems like a great method of displaying your prices with a beautiful design. Though they appear to be engaging however, they're a single-dimensional. By using slide decks you're wasting opportunities to gather information and create informed follow-ups. Pricing must give you an advantage edge and let you know how often your customer sees your pricing and ensure they fully understand the pricing that is being displayed.
Advice from a Seller That ChangedStefan Kollenberg, co-founder of Crescendo changed from slide decks and instead used a pricing tool that provides information and live analytics. Kollenberg states:
"I would have my pricing in the back of a sales deck just with one page. I had no idea if clients] would enter the deck in order to change it up, choose different options or look at the various tiers we offered. It's like you need to collect as much information as you can on what pricing worked, what didn't .">
Things to consider: Without data from prior deals, you'll not be able to make adjustments for future customers or know the best way to serve your potential customers. You should consider using a tool which allows you to gather insight in real time and track all things related to pricing.
3. Use of Email to display SaaS Pricing
What number of emails do you get in a day? We all have the same answer: way too numerous.
What should you alter: Scrolling through endless emails to try and find the right information can be time-consuming and frankly irritating. Communicating your pricing through email can prolong the duration required to conclude the deal, as it is one of the most ineffective ways to communicate price.
A Seller's Advice who switched: Jack Hannah, Sales Team Lead at LinkSquares He switched from using email for pricing communication to an interactive pricing tool. He states:
"A majority of conversations were taking place verbally and were followed with an email summation in an effort to make certain that everyone understood what we were really talking about. We're now able to actually share our screen and enjoy a formal, organized conversation around price, which helps create a an easier conversation, which requires much less back and forth ."
The things you need to consider: Avoid the headache and establish a seamless relationship with your prospects making use of a software designed for swift and efficient communication. It will not only enable your clients to locate what they are looking for quickly, but it will provide all of the custom pricing as well as pertinent details in a clear manner.
4. Collaboration Software used to display SaaS Pricing
Collaboration tools and software offer an undisputed benefit in the sales process, but if you're misusing the software as your main pricing display device, you're bound to be in a mess.
What should you make changes to: Collaborative tools such as those used for internal communications and brainstorming, aren't suitable to display SaaS pricing. Misusing tools in an attempt to present your price is sure to result in creating a disjointed presentation that can confuse your potential customers. There are numerous amazing tools made to help, but using tools for a price purpose that wasn't created to display pricing is a sure way of running into a variety of difficulties that can cause a problem.
Advice from a Seller Who Switched: Mike Pinkus, Partner at ConnectCPA previously used collaboration software to build an interactive pricing experience before the switch to a price platform designed with interactivity at its core. He states:
"We were using an application that wasn't specially designed to be a sales platform. It definitely lacked professionalism due to the fact that we were using it to serve a different purpose. Since we switched and re-installing it, there's that cleanness and professionalism. Everything is neat and organized according to the goal of selling ."
What you should consider: Misusing software may appear to be a time and cost saving option, but in the long run, it will actually create more problems than it solves. Making your pricing procedures more flexible with software created to cater to your specific needs will benefit the business and create a better buying experience for your customers.
5. Utilizing PDFs for Displaying SaaS Pricing
Many of us have resorted to the classic PDF format. Yes, you've were able to have your designer design everything beautiful and branded however, the truth is that it is really a stagnant and useless way of showing SaaS pricing.
What you should change: Prospects can't engage with the PDFs you provide them - much like using a slide deck. Once your prospect downloads the PDF, there's no way of determining how it was received or the number of instances it's been used. Editing or making changes to the document is an arduous process that eats up unnecessary time.
Advice from a seller who switched:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing up to date by moving from stagnant PDFs and moving to an interactive price.
"We had a PDF showcasing three different pricing tiers around what we can do to assist our customers. We'd edit that PDFwhenever a customer showed up. It was always our goal to create both our spreadsheets and us beautiful, however in doing so you can't give as much details. It's no longer necessary to ruffle between all of these tools in order in order to create a complete package, we can just utilize Interactive Quotes ."
What you should consider: The only interactive benefit PDFs offer is the option to sign on the dotted line -- but an interactive experience needs many more benefits than just sign-off to close. Use pricing software that will offer your client an interactive and personalized experience from first pricing conversations to the signatures at the end.
What Should I Use to Display My SaaS Pricing?
Pricing shouldn't seem confusing, messy or boring to the people you're trying to sell it to.
The future of display of SaaS pricing will be an interactive customized experience that's straightforward for potential customers to connect with and comprehend. That means that your partnership with office software to display SaaS pricing needs to come to an end so that you can completely revamp the SaaS pricing plan.
To refresh the way you present SaaS pricing, concentrate on finding a pricing tool that fits your needs. The following three areas are worth prioritizing when looking for the perfect 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. Create an engaging and interactive shopping experience for buyers
3. Gaining insight into your pricing's performance using real-time data analysis.
More than ever before more than ever, it's crucial to reduce time spent and work efficiently. Don't be a slave to obsolete and confusing pricing. It is possible and easy to transition into a modern pricing process that will help to work more efficiently, not harder, while increasing the likelihood of closing deals more quickly.
