What is the best way to display your Prices: Interactive vs. Traditional -
The way you display SaaS pricing shouldn't be considered as an afterthought. It must be a strategy that's easy and engaging for your prospects.
Pricing is an essential method of building confidence with the prospect and when it is done correctly will help to build momentum into your selling funnel. It is able to be among the most personal, engaging and sustainable elements of your sales process.
The first step to developing this kind of experience is to examine your methods used to create, display and share your pricing.
The ultimate antagonist is revealed in this scenario the regular Office Suite software.
If you're using this Office Suite software to display SaaS pricing, then it's time to make an update. Find out more from experts about how you can make changes.
How to avoid it What NOT to do: Traditional Ways of Displaying Price
1. Using Sheets for Displaying SaaS Pricing
Things you can change: Using sheets does do not reflect professionalism. They're dull and incredibly manual - and your pricing must be different. You can't personalize your pricing making use of a worksheet that isn't personalized, which is crucial to building relationships with prospects. It is easy to get lost in the numbers, and it can take a long time to develop.
Tips from a Seller who switched: Mike Wright, Co-Founder and CEO at MESH/diversity switched from using spreadsheets to an online pricing tool. He says:
"Leveraging an instrument for pricing can be a game changer because it allows you to remain consistent. It also lets you have the past of your progress in your hands which allows you to make choices in the future using the historical information and in a more efficient approach than digging up old proposals or looking through older versions of your spreadsheets."
What you should consider: Try incorporating personalized alternatives that will allow prospects to pick the right solution for them, when showing SaaS pricing models. For a better experience than using a spreadsheet, use a software that saves all the previous quotations so that it is easy to pull in pricing and automatically populate calculations for prospects. So, you will no require spending your time creating sheets and performing calculations manually each time you make a new purchase.
2. Utilizing Slide Decks for displaying SaaS Pricing
The next slide...next slides... Next pricing strategy, please.
What you should change: Sending decks to clients seems like a great option to present your price with a beautiful design. While they may seem appealing but they are a one-dimensional format. When you use slide decks, you are throwing away the chance to learn more about your prospects and develop a well-informed follow-up. Pricing should give you the upper hand and share with you how many times your prospect sees your pricing and also ensure that they are aware of what pricing is presented.
A Seller's Advice That ChangedStefan Kollenberg, co-founder of Crescendo, switched from using slideshows to using an online pricing tool that gives insight and analytics in real-time. He states:
"I could have my price on the back of a sales deck just with one page. I had no idea if buyers] came into the deck to kind of modify it, pick several options, or go through the different tiers that we had to offer. You need to collect as much information as you can on what pricing did well, and what didn't. .">
What you should consider: Without data from prior deals, you'll not be able to adjust for future customers or know the best way to serve your future customers. You should consider using a tool that lets you gain insight in real time and monitor all things related to pricing.
3. Using Email for Displaying SaaS Pricing
What number of emails do you get in a day? We all have the same answer: too many.
What should you modify: Scrolling through endless emails in order to locate the correct information is time-consuming, and frankly annoying. The act of expressing your price via emails can extend the time required to complete the deal, as it is one of the worst methods to convey pricing.
Advice from a Seller That Switched: Jack Hannah, Sales Team Leader at LinkSquares, changed from emailing for communicating pricing, to using an interactive pricing tool. He states:
"A majority of conversations were taking place verbally and then followed with an email summary as a way of making certain that everyone understood the topic we were talking about. [Now] we're able to effectively share our screens and engage in a more professional, structured conversation regarding price. This, I think [helps create] more clear conversations that require much less back and forth ."
Things to think about: Avoid the headache and establish a seamless relationship with prospects by employing a program designed to facilitate swift and efficient messaging. It will not only let your customers find the information they need swiftly, but it will also display 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 irrefutable value in your sales process, but If you're using them to display your primary pricing device, you're bound to be in an out.
The things you need to change: Collaborative tools such as those used for internal communications and brainstorming, aren't suitable for displaying SaaS pricing. Misusing tools in an attempt to display your pricing is a sure way of producing a disorganized presentation, and causing confusion for your prospective customers. There are numerous amazing tools made to help with pricing, however, when you employ an instrument for a pricing function that wasn't designed to be used to display pricing is a sure way of running into a variety of issues that could possibly ruin the deal.
A Seller's Advice Who Switched: Mike Pinkus, Partner at ConnectCPA was a former user of collaboration software to build an interactive price experience prior to when switching to a pricing platform designed with interactivity at the heart of it. He says:
"We were using an application that wasn't specially designed to be an online sales platform. It definitely lacked professionalism due to the fact that we were using it for a wrong reason. Since we switched, we have that cleanliness and professionalism. Everything is tidy and designed according to the purpose for sales ."
The things you need to think about: Misusing software may seem like a time and cost-saving option but, in the end time, it can create more problems than it resolves. Making your pricing procedures more flexible with software created to cater to its specific needs will support your business while providing an improved buying experience for potential buyers.
5. Utilizing PDFs to Display SaaS Pricing
There are many who have used the classic PDF format. Yes, you've could have had your graphic designer create it all branded and pretty However, the reality is that it's really just a slow and useless way of showing SaaS pricing.
What you should modify: Prospects can't engage with the PDFs you provide to them, just like a slide deck. Once your prospect downloads the PDF, there is no way of measuring how the file has been accepted or how many times it's been opened. Editing or making changes to the document is a tedious process that consumes a lot of time.
A Word from a seller who switched:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing to life by switching from stagnant PDFs to dynamic pricing.
"We had a PDF showcasing three pricing levels of what we can do to service our clients. We'd edit that PDF] every time a client showed up. It was always our goal to design the spreadsheets and ourselves beautiful, however in doing so you can't give as much information. It's no longer necessary to play around with all of these tools in order to put together a package We can use Interactive Quotes ."
Consider these: The only interactive benefit that PDFs can provide is the option to make a signature on the line -- but an interactive experience needs to offer more than sign-off to close. Utilize pricing software to provide your customer with an engaging and personal experience starting with initial pricing discussions and ending with final signatures.
How should I display my SaaS Pricing?
Pricing shouldn't feel confusing, messy or boring to the people you're trying to sell it to.
The future of displaying SaaS pricing is an active customized experience that's easy for prospects to engage with and comprehend. This means your relationship with your office software for displaying SaaS pricing needs to come to an end so that you can completely revamp your SaaS pricing strategy.
To refresh the way you display SaaS pricing, you should focus on finding a pricing tool that is compatible with your needs. Three areas that we recommend prioritizing when looking to find the best tool are:
1. Using a tool that will help you work more efficiently by saving you time, increasing productivity, and improving your team's efficiency while delivering your pricing to your prospects
2. Creating an interactive and engaging buying experience for your prospects
3. Gaining an understanding of the performance of your pricing through live data analysis.
Now more than ever more than ever, it's crucial to cut down on time and work efficiently. So forget old complicated and outdated pricing. It's easy to step into a new pricing process that will help you work smarter, instead of harder, as well as increasing your chances of closing deals faster.
