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SURE! Blog

Why Dynamic Packaging and Pricing to Improve monetization?

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May, 2017

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Innovative packaging and pricing are one the most common problems faced by any business offering product/services on subscription, along with managing churn and improving subscriber base.

Getting the package right is one of major responsibility of marketing team. The team has to go under extreme brainstorming session that includes thorough understanding of customer persona, and then decide the no of plans, kind of plans, target segment of each plan and metric to measure the performance.

Planning and implementing at once is not a major problem. Issues arise the moment your team wants to dynamically make the changes to existing plan Or configure a new plan on the fly for an enterprise customer.

Therefore in this blog we are discussing about

1. Requirement of innovative packaging and pricing (1/3)

2. Barriers that not let them do by themselves (2/3)

3. How SURE! can help organization to get innovative packing and pricing right. (3/3)

Why you require Innovative packaging and pricing?

Value Game: A right package has been aimed at delivering maximum value to the target segment and gets the desired results for the organization. If the configured plan performance is nowhere near to my expectation, then I should definitely think about it

Competition: The threat of new entrants in the SaaS industry is high. This is leading to high competition and reduction in the user switching cost. Now in order to make the user stick to my platform, I will roll out multiple bundles and tie up promotions to it. Key here is to plan to differentiate

Customer Preferences: Customers have different tastes and unique preferences that are ever changing. If companies can give their customers what they want, when they want, how they want it helps them to retain and attract more subscribers. Deliver what exactly benefits your customers most.

Customer experience: Long term growth in subscription businesses are directly tied to customer, Happy customers make repeat purchases. Understanding their level of satisfaction helps the reduce churn and improve user experience- Everyone is talking about customer experience. What’s your take?

Summary: Any organization requires innovative packaging and pricing to improve monetization, and retain and attract more subscribers.

But, if it is so simple, Why every organization is not able to do it? And How SURE! can help organizations into OTT, IoT or everything as a business to build innovative packaging and pricing?

We will discuss more on above two questions in our next blog.

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By : Ramakrishna Mashetty

Ramakrishna Mashetty is The Chief Marketing officer of SURE! (a Magnaquest product).SURE! is an internationally acclaimed player in comprehensive end-to-end Subscription Business Solutions for PayTV, Broadband and Cloud Computing businesses – through deployment of Metered Billing, CRM, Service Fulfillment, Value-Added Services, and Managed Services.

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