SMB Pricing Bootcamp
SMB Bootcamp Description
This is a three-part program designed to teach, apply and implement a pricing strategy for an SMB company. It should be attended by the CEO and executives in sales, marketing, and product. The first part is a 2-hour zoom training to educate the team on several pricing concepts and strategies. The full-day boot camp is where the executives begin to apply several of the techniques to their own business. Follow-up group consultations the track and advise the team as they implement a new pricing strategy.
This will be an interactive 2-hour Zoom session. The purpose is to teach some fundamental concepts on pricing and value. After the session, there will be homework to get the attendees thinking about the concepts. After attempting to apply them on their own, they will come to boot camp prepared and curious.
- The perils of cost-plus pricing
- How customers perceive value
- Value tables
- Customer value journeys.
- The 3 value levers
- Market segment
- Pricing metric
- List 10 diverse customers and estimate their WTP
- Take one product, list the 3 most valuable features, and create a value table
- Brainstorm on customers that made decisions without considering the competition
- Define your pricing metric. Determine your competitor’s pricing metrics.
- Find the URLs for your pricing page (if you have one) and your competitors’ pricing pages.
This live, in-person workshop will apply the concepts learned in the Zoom training to the companies in attendance. Attendees will show up having attempted the homework. We will go deeper on the topics covered in the Zoom training with an emphasis on how each company can use them. Ideally 3 or 4 executives from each company will attend. The boot camp will end with a commitment on 1 or 2 pricing projects each company will make in the next 3 months. Possibly the only new topic introduced at boot camp will be pricing pages. If appropriate, I will review pricing pages and provide guidance.
Follow-on group consultation
After boot camp, the attendees will likely have some questions during the implementation of their pricing projects. We will have bi-weekly zoom sessions for the companies to help each other and Mark will provide advice as well. We will have 6 of these hour-long sessions within a 3-month time frame.