What is the best way to display your Pricing: Interactive or Traditional
How you show SaaS pricing shouldn't be considered as an afterthought. It's an ongoing strategy that is easy and engaging to your customers.
Pricing is a key way to build trust with your prospect, and when it is done correctly will help to build momentum into your sales funnel. It could be one of the most personalized, interactive and quantifiable elements of the process.
The first step towards developing this kind of experience is to examine the methods you use to display, create and communicate your prices.
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, then it's time to make an overhaul. Read on for expert advice on how to make changes.
Things NOT to Do How to Display Pricing: Conventional Ways of Displaying Price
1. Sheets are used to display SaaS Pricing
What you should modify: Using sheets does do not reflect professionalism. They're dull and incredibly manual , and your pricing should be anything but. You can't personalize your pricing making use of a worksheet which is why personalization is essential for building relationships with potential customers. It is easy to get lost in the numbers, and they're time-consuming to build.
Tips from a Seller Who Switched: Mike Wright, Co-Founder and CEO at MESH/diversity switched from using spreadsheets to an interactive pricing tool. The company's CEO says:
"Leveraging the power of pricing tools is a game-changer because it allows you to remain consistent. It also allows you to have the history of the way you've changed in your hands, and it allows you to make choices when you're moving forward by relying on the past data which is a lot easier method than looking up proposals from the past or looking through older versions of your sheets."
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. For a better experience than using spreadsheets, you can use software that saves all your previous quotes so you can easily pull in prices and then automatically fill in calculation for potential customers. This way, you don't have to waste your time creating sheets and manually doing the math to calculate every deal.
2. Use Slide Decks for displaying SaaS Pricing
Slide Next slide...next Slide... Next pricing strategy. Please.
What you should make changes to: Sending decks to prospects seems like an easy option to present your price in a pretty format. Though they appear to be engaging however, they're a single-dimensional. When you use slide decks, you are throwing away an opportunity to gain insights and make informed follow-ups. The pricing you offer must give you an advantage edge and let you know how often your customer is viewing your price, and also ensure that they are aware of the price shown.
Advice from a Seller That ChangedStefan Kollenberg, co-founder of Crescendo changed from slideshows to using the pricing tool which provides insights and real-time analytics. He states:
"I will have my prices at the bottom of a sales deck just on one slide. I never knew if [the clients] would enter the deck in order to alter it, select different options or look through the various levels of service we had to offer. You need to gather as much information possible on how pricing did well, and what didn't. .">
Things to consider: Without data from earlier deals, you'll not be able to adjust for future customers or know the best way to serve your potential customers. Think about using a software which allows you to gather insights in real-time and monitor the entire related to pricing.
3. Utilizing Email to display SaaS Pricing
How many emails can you receive in the course of a single day? All of us have one answer, too many.
What should you modify: Scrolling through endless emails to try and find the correct information is time-consuming, and frankly annoying. Communicating your pricing through email can prolong the time required to complete the transaction, since it's among the most ineffective methods to convey price.
A Seller's Advice That Switched: Jack Hannah, Sales Team Lead at LinkSquares He moved from email for communicating pricing, to using an interactive tool for pricing. He states:
"A lot of the conversations were taking place verbally and were followed with an email summary in an effort to make certain that everyone understood what we were actually speaking about. We're now able to effectively share our screens 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 create seamless communication with prospects by using a tool designed for quick and easy messaging. It will not only allow your prospects to find all the data they require quickly, but it will show all their customized pricing and pertinent details clearly.
4. Collaboration Software used to display SaaS Pricing
Collaboration tools and software offer an undisputed benefit in the selling process. However, if you're misusing the software for your primary price display tool, you're in for an unintentional mess.
The things you need to change: Collaborative tools such like those for internal communications and brainstorming are not functional for displaying SaaS pricing. Making use of tools to present your price is a sure way of creating a disjointed presentation and causing confusion for your prospective customers. There are numerous amazing instruments designed to aid however, if you use an instrument for a pricing purpose that wasn't created to be used for pricing, you're going to run into many problems that may cause a problem.
Advice from a Seller Who Switched: Mike Pinkus, Partner at ConnectCPA, once used the collaborative software for creating an interactive pricing experience before he switched to a pricing system that has interactivity as its core. He states:
"We had an online platform that was not specifically created to be one for sales. It was certainly not professional, because we were using it for the wrong purpose. After switching the cleanliness as well as professionalism. All is clean and it's designed to be a good fit for the goal of the sales ."
Things to consider: Misusing software may appear to be a time and cost saving option, but in the long run, it will actually cause more issues than it resolves. Transferring your pricing process to programs that are designed to meet its specific needs will support you while also creating more enjoyable buying experiences 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 it all branded and pretty, but unfortunately, it's really just a slow and unproductive way of displaying SaaS pricing.
The things you need to make changes to: Prospects can't engage with the PDFs you provide them - much like using slide decks. When a prospect downloads the PDF file, there's no way of determining how it was received or how many times it's been opened. Making edits or changes is an arduous process that 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 static PDFs to dynamic pricing.
"We had a PDF showcasing three different pricing options around the way we could be able to assist our customers. We would edit [that PDFwhenever a customer showed up. We always tried to design ourselves and our spreadsheets attractive, but by doing this, we couldn't provide the same amount of details. There is no need to switch between 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 sign on the dotted line. However, the truly interactive experience is able the potential to provide more than simply closing the deal. Make use of pricing software that can give your prospect an experience that is personalized and interactive from first pricing conversations to the final signatures.
What Should I Use to Display My SaaS Pricing?
Pricing shouldn't seem complicated, confusing or dull for your prospects.
The future of display of SaaS pricing will be an interactive, personalized experience that is straightforward for potential customers to connect with and understand. This means your relationship with the office software that displays SaaS pricing needs to be ended for a complete overhaul of the way you present your SaaS pricing strategy.
In order to refresh how you display SaaS pricing, focus on finding a pricing tool that fits your needs. Three areas that we recommend to prioritize when searching for the perfect tool are
1. Making use of a tool to simplify your job by saving you time, increasing your productivity and your team's efficiency when delivering your price proposition to potential customers
2. Creating an interactive and engaging shopping experience for buyers
3. Gaining insights into the performance of your pricing through live analytics.
Today more than ever now, it's important to reduce time spent and work efficiently. So forget old outdated and confusing pricing. It is possible and easy to step into a new pricing process that will help you to be more efficient, and instead of harder, as well as increasing the likelihood of closing deals faster.
