How To Display Your Pricing: Interactive or Traditional -
How you show SaaS pricing should not be an afterthought. It's an effective strategy that's engaging and straightforward for potential customers.
Pricing is one of the most effective ways of establishing confidence with the prospect and when done right will help to build momentum into your sales funnel. It could be among the most personal, engaging and sustainable elements of your process.
The first step to making this happen is to evaluate the strategies you employ to create, display and distribute your price.
You will meet the most powerful villain in this story the regular Office Suite software.
If you're using this Office Suite software to display SaaS prices, you're in the right place to make an update. Read on for expert advice regarding how to implement changes.
Things NOT to Do What NOT to do: The traditional Ways to Display Pricing
1. Sheets are used to display SaaS Pricing
Things you can modify: Using sheets does do not reflect professionalism. They are dull and extremely manually-based, and the pricing shouldn't be any different. You can't personalize your pricing you use a spreadsheet, and personalization is critical for building relationships with potential customers. It's easy to become overwhelmed by numbers and it can take a long time to develop.
Advice from a Seller who switched: Mike Wright, Co-Founder and CEO at MESH/diversity changed from spreadsheets and a pricing tool that is interactive. He tells us:
"Leveraging the power of pricing tools is a game-changer because it allows you to be consistent, it allows you to have the past of how you've evolved at your fingertips which allows the user to take decisions as you move forward by relying on the past data, in a much easier approach than the old plans or re-reading old versions of your sheets."
What you should consider: Try incorporating personalized alternatives that will allow prospects to select the best option for their needs when you display SaaS pricing structures. To avoid the labour of a spreadsheet, use a program that can save all of prior quotes, so you can easily pull in prices and then automatically fill in calculation for potential customers. This way, you don't require spending hours creating spreadsheets or making calculations manually to calculate every deal.
2. Using Slide Decks to display SaaS Pricing
Next slide...next slides... The next pricing strategy.
What should you change: Sending decks to prospects seems like an easy way to showcase your pricing with a beautiful layout. Though they appear to be engaging, decks are one-dimensional. By using slide decks they are wasting the chance to learn more about your prospects and make informed follow-ups. The pricing you offer will give you an upper over the competition and also reveal the number of times your potential customer sees your pricing and also ensure that they are aware of what pricing is presented.
A Seller's Advice who switched:Stefan Kollenberg, co-founder of Crescendo changed from slide decks and instead used an online pricing tool that gives insight and analytics in real-time. Kollenberg says:
"I will have my prices in the back of a sales deck in one slides. I never knew if [the buyers] came into the deck to kind of alter it, select various options, or browse through the different tiers that we offered. You need to get as much data you can on what pricing worked, what didn't ."
What you should consider: Without data from previous deals, you will not be able to adjust to the needs of your prospective customers and determine what works best for your potential clients. Think about using a software that lets you gain insights in real-time and track the entire price.
3. Utilizing Email to display SaaS Pricing
How many emails do you get each day? All of us have the same answer: too numerous.
What you should change: Scrolling through endless emails trying to find the right information can be time-consuming and frankly irritating. Communicating your pricing through email extends the length of duration required to conclude the transaction, since it's among the most ineffective ways to communicate pricing.
A Seller's Advice That Switched: Jack Hannah, Sales Team Lead at LinkSquares He switched from using email to communicate pricing to an interactive pricing tool. The sales rep says:
"A majority of discussions were conducted verbally and then followed with an email summary in an effort to make certain that everyone understood the topic we were talking about. Now, we can be able to share our screen and enjoy a more professional, structured conversation regarding price. This, can lead to a more clear conversations that require much less back and forth ."
What you should consider: Avoid the headache and ensure seamless communication with potential customers by making use of a software designed for swift and efficient messaging. Not only will it allow your prospects to find all the data they require swiftly, but it will show all their custom pricing and relevant data easily.
4. Collaboration Software used to display SaaS Pricing
Collaborative tools and software have irrefutable value in your sales process, but If you're using them as your main pricing display device, you're bound to be in an unintentional mess.
What you should change: Collaborative tools such that are used to facilitate internal communication or brainstorming are not functional to display SaaS pricing. Utilizing tools to present your price is sure to result in creating a disjointed presentation and causing confusion for your prospective customers. There are numerous amazing tools designed to assist, but using tools for a price function that wasn't designed to be used for pricing you are automatically likely to encounter a myriad of problems that may ruin the deal.
Advice from a Seller Who Switched: Mike Pinkus, Partner at ConnectCPA, once used collaborative software to create an interactive pricing experience before switching to a pricing platform designed with interactivity at its core. He says:
"We had an application that wasn't specifically created to be a sales platform. It was certainly not professional, since we used it for a wrong reason. After switching, we have that cleanliness as well as professionalism. All is tidy and designed in a way that suits the purpose for selling ."
The things you need to think about: Misusing software may appear to be a time and cost-saving option, but in the long in the end, it could cause more issues than it resolves. Transferring your pricing process to programs that are designed to meet the specific requirements of you while also creating a better buying experience for prospects.
5. Using PDFs for Displaying SaaS Pricing
There are many who have used the classic PDF format. Sure, you could have had your graphic designer create everything beautiful and branded, but unfortunately, it's really just a slow and ineffective way to display SaaS pricing.
The things you need to modify: Prospects can't engage with the PDFs you provide the same way as they would with slide decks. When a prospect downloads the PDF file, there's no way of determining how the document has been received or the amount of times it's been opened. Editing or changing the content is a tedious process that eats up unnecessary time.
Tips from a Salesperson Who Changed:Ross Simmonds, Founder of Foundation Marketing, brought his pricing up to date by moving from stagnant PDFs and moving to an interactive price.
"We have a PDF that outlines three different pricing tiers around how we would be able to serve our customers. We'd edit that PDFeach time a potential client showed up. We always tried to make both our spreadsheets and us attractive, but by this way, you don't have as much detail. We no longer need to play around with all of these tools in order for putting together a system, we can just use Interactive Quotes ."
The things you need to consider: The only interactive benefit that PDFs can provide is the ability to make a signature on the line. However, an interactive experience needs the potential to provide more than simply closing the deal. Use pricing software that will offer your client an interactive and personalized experience beginning with the initial price discussions to the final signatures.
How Should I Display my SaaS Pricing?
Pricing shouldn't be like a mess, or a chore to the people you're trying to sell it to.
The future of displaying SaaS pricing is to provide an engaging personal experience that's straightforward for potential customers to connect with and grasp. It means that the relationship you have with the office software that displays SaaS pricing must close for a complete overhaul of the way you present your SaaS pricing strategy.
In order to refresh how you present SaaS pricing, you should focus on finding a pricing tool which is suited to your requirements. The following three areas are worth prioritizing when looking for the perfect tool are
1. Using a tool that will help you work more efficiently by reducing time and increasing your productivity and your team's efficiency when delivering your price proposition to potential customers
2. Engaging and stimulating buying experience for your prospects
3. Gaining an understanding of your pricing's performance using real-time analytics.
Today more than ever more than ever, it's crucial to reduce time spent and perform your work effectively. So forget old obsolete and confusing pricing. It's easy to transition into a modern pricing method that lets to work more efficiently, not harder, while increasing your chances of closing deals faster.
