Post by Rupa on Dec 5, 2023 8:23:13 GMT
On top of that, comparing the annual subscription price of off-the-shelf solutions with the cost of creating a chatbot whose use will not require a monthly subscription fee, it Whatsapp Number may turn out that a personalized chatbot will do better. Especially since the implementation of a tailored solution can significantly increase the number of customer inquiries that will not require human involvement to resolve.New customer or higher price? A few words about pricing
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Blog
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Business
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New customer or higher price?
Andy Nichols
Nov 27
Blog, Business
pricing
What is a pricing policy? Why is it so important in every organization? How to approach the pricing of products and services in your company? In this article, we will answer all of these questions.
A few words about pricing – table of contents:
Introduction
What is a pricing policy?
Types of pricing strategies
Pricing methods
Testing prices
Pricing mistakes
Introduction
Price is an important but often overlooked element of an offer. Yet it is of paramount importance in building a company’s value. Kevin Hale, a former partner of the prestigious Y Combinator startup accelerator program, said in one of his presentations that there are three ways through which companies can grow. These ways are the acquisition of new customers, retention of current customers, and the way of settling with them.
Which is the most effective? At first glance, it would seem that the fastest-growing businesses are those that acquire more customers. But a study of 500 SaaS companies shows that’s not true.
Kevin Hale believes that if you spend 1% more on acquiring customers, you will see a 3.32% return on that investment. If you bet on customer retention, the return will increase to 6.7%. On the other hand, if you decide to optimize your pricing and the way you bill your customers, the return will jump to 12.7%. This is why pricing is so important in any business. So let’s explain what pricing is and how you can use it to grow your company.
›
Blog
›
Business
›
New customer or higher price?
Andy Nichols
Nov 27
Blog, Business
pricing
What is a pricing policy? Why is it so important in every organization? How to approach the pricing of products and services in your company? In this article, we will answer all of these questions.
A few words about pricing – table of contents:
Introduction
What is a pricing policy?
Types of pricing strategies
Pricing methods
Testing prices
Pricing mistakes
Introduction
Price is an important but often overlooked element of an offer. Yet it is of paramount importance in building a company’s value. Kevin Hale, a former partner of the prestigious Y Combinator startup accelerator program, said in one of his presentations that there are three ways through which companies can grow. These ways are the acquisition of new customers, retention of current customers, and the way of settling with them.
Which is the most effective? At first glance, it would seem that the fastest-growing businesses are those that acquire more customers. But a study of 500 SaaS companies shows that’s not true.
Kevin Hale believes that if you spend 1% more on acquiring customers, you will see a 3.32% return on that investment. If you bet on customer retention, the return will increase to 6.7%. On the other hand, if you decide to optimize your pricing and the way you bill your customers, the return will jump to 12.7%. This is why pricing is so important in any business. So let’s explain what pricing is and how you can use it to grow your company.
