Never Display SaaS Prices using Static Software -
The way you display SaaS pricing should not be a last-minute thought. It must be an effective strategy that is simple and easy for your prospects.
Pricing is a key way to build trust with the prospective customer, and when it is done correctly will help to build momentum into the marketing funnel. It could be one of the most interactive, personalized and quantifiable elements of your process.
The first step to making this happen is to evaluate the methods you use to display, create and share your pricing.
Meet the ultimate villain in this scenario: your regular Office Suite software.
If you're using the following Office Suite software to display SaaS pricing, it's time to give your pricing some fresh air. Read on for expert advice on how to make changes.
1. Using Sheets for Displaying SaaS Pricing
Can we say: BORING?
Things you can change: Using sheets does not show professionalism. They're dull and incredibly manually-based, and the pricing should be anything but. It's not personal when making use of a worksheet that isn't personalized, which is crucial in building rapport with prospective customers. It's easy to become confused by the numbers and it can take a long time to develop.
A Seller's Advice Who Switched: Mike Wright, Co-Founder and CEO of MESH/diversity moved from spreadsheets to using an interactive pricing tool. He says
"Leveraging pricing tools is an important step since it permits users to stay consistent. it allows you to have your history of the way you've changed to your fingertips, and it allows you to make choices as you move forward by relying on the past data and in a more efficient approach than the old plans or look back at the old versions of your worksheets."
The things you need to consider: Try incorporating personalized alternatives that will allow prospects to choose the appropriate option for their needs when you display SaaS pricing models. To avoid the labour of a spreadsheet, use a software program that stores all the previous quotations so that you can easily pull in the pricing of your competitors and instantly populate your the calculations of prospects. That way, you no have to waste the time to create spreadsheets and making calculations manually each time you make a new purchase.
2. Use Slide Decks to display SaaS Pricing
Slide Next slide...next Slide... The next pricing strategy.
The things you need to change: Sending decks to prospects seems like an easy way to showcase your pricing in a pleasing layout. Though they appear to be engaging but they are a one-dimensional format. When you use slide decks, they are wasting opportunities to gather information and make informed follow-ups. The pricing you offer must give you the edge and inform you how many times your prospect views the pricing and be sure they fully understand the pricing that is being displayed.
Tips from a Seller Who Switched:Stefan Kollenberg, co-founder of Crescendo, switched from using slide decks and instead used an pricing tool that offers insights and real-time analytics. He claims:
"I will have my prices on the back of a sales deck on one slide. I didn't know if the customers] were going into the deck to kind of alter it, select several options or go through the various levels of service we had to offer. You need to gather as much information you can on what pricing worked, what didn't ."
What you should consider: Without data from prior deals, you'll not be able to adjust to the needs of your prospective customers and determine which options are best for potential clients. Think about using a software that lets you gain insight in real time and monitor everything related to price.
3. Use of Email for Displaying SaaS Pricing
What number of emails do you receive in the course of a single day? We all have one answer, too numerous.
The things you need to modify: Scrolling through endless emails in order to locate the correct information is time-consuming, and frankly frustrating. Talking about your pricing via email can prolong the time it takes to close the transaction, since it's among the most ineffective ways of communicating price.
Advice from a Seller That Switched: Jack Hannah, Sales Team Lead at LinkSquares has changed from emailing to communicate pricing to an interactive tool to calculate pricing. The sales rep says:
"A majority of conversations were taking place verbally and would be followed up by an email with a summary of the conversation as a way of making sure both parties understood what we were actually talking about. We're now able to be able to share our screen and enjoy a more formal and structured discussion regarding price. This, can lead to a much clearer conversation that requires more minimal back and forth ."
Things to think about: Avoid the headache and ensure seamless communication with potential customers by employing a program designed to facilitate quick and easy communication. It will not only let your customers find the information they need swiftly, but it will also display all of their customized pricing and pertinent information easily.
4. Using Collaborative Software for Displaying SaaS Pricing
Collaborative tools and software have an undisputed benefit in the sales procedure, however if you're misusing the software as your main pricing display tool, you're in for a mess.
The things you need to make changes to: Collaborative tools such as those used for internal communication or brainstorming are not functional for displaying SaaS pricing. Misusing tools in an attempt to show your prices is sure to result in making a messy presentation that can confuse your potential customers. There are many amazing tools made to help, but using tools for a price use that was not designed for pricing you are automatically going to run into many problems that may cause a problem.
A Seller's Advice who switched: Mike Pinkus, Partner at ConnectCPA previously used the collaborative software for creating an interactive experience for pricing before switching to a pricing platform designed with interactivity at its core. He notes:
"We were using an online platform that was not specially designed to be one for sales. It definitely lacked professionalism since we used it to fulfill a wrong function. Now [after switching], we have that cleanliness as well as professionalism. All is neat and organized according to the purpose for sales ."
Things to consider: Misusing software may seem like a great time and cost saver, but when you look at the end of the tunnel you will end up creating more issues than it resolves. Making your pricing procedures more flexible with software designed to address the specific requirements of you while also creating a better buying experience for your customers.
5. Using PDFs for Displaying SaaS Pricing
We've all resorted to using the classic PDF format. You may have could have had your graphic designer create everything beautiful and branded However, it's a dreary and ineffective way to display SaaS pricing.
What you should modify: Prospects can't engage with the PDFs you provide them - much like using slides. When a prospect downloads the PDF file, there's no way to know how the file has been downloaded or how many times it's been opened. Making edits or changes can be a lengthy process and takes up a significant amount of time.
Tips from a seller who switched:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing up to date by moving from stagnant PDFs to dynamic pricing.
"We were given a pdf that showed three different pricing tiers around what we can do to assist our customers. We would edit [that PDFeach time a potential client showed up. It was always our goal to create both our spreadsheets and us beautiful, however in this way, you don't have the same amount of detail. We no longer need to switch between the different instruments for putting together a system and we're able to use Interactive Quotes ."
The things you need to consider: The only interactive benefit PDFs offer is the capability to sign on the dotted line, but an interactive experience needs the potential to provide more than simply signing to close. Utilize pricing software to give your prospect an interactive and personalized experience beginning with the initial price discussions to the signatures at the end.
How Should I Display my SaaS Pricing?
Pricing shouldn't feel like a mess, or a chore for the people you're trying to sell it to.
The future of display of SaaS pricing is to provide an engaging customized experience that's simple for customers to interact with and comprehend. That means that your partnership with the office software that displays SaaS pricing must close for a complete overhaul of your SaaS pricing plan.
For a fresh approach to present SaaS pricing, focus on finding a pricing tool that fits your needs. Three aspects we recommend to prioritize when searching to locate the perfect tool
1. Utilizing a software that can make your work easier by reducing time and improving your efficiency and team's efficiency in delivering your price proposition to potential customers
2. Creating an interactive and engaging buying experience for your prospects
3. Enhancing your understanding of prices' performance using real-time data analytics.
Now more than ever more than ever, it's crucial to save time and be efficient. Don't be a slave to outdated and confusing pricing. It is possible and easy to step into a new pricing system that can help you to be more efficient, and rather than harder, and increase the likelihood of closing deals more quickly.
