Episode 130: Monetization Strategy and Design for B2B Software with Chris Mele of Software Pricing Partners
Chris Mele, Managing Partner of Software Pricing Partners, shares his insight and expertise on monetization for software companies. Monetization is an entire discipline that includes pricing, packaging, and licensing.
Mele shares how challenging it can be to think about monetization at the last moment before selling a product. Software companies need to develop the discipline of monetization as early as the product design. This allows the inclusion of features, customization, and an overall valuation on each part of the product. This is essential as customers, especially in B2B, tend to have different demands or needs from a product.
Mele argues that pricing should be transparent. Software companies should be ready to share the methodology behind their pricing when customers ask. It’s also essential to have competitive intelligence — and being aware of how your competitors are pricing in the marketplace can serve as a baseline for yourself. It’s not good practice to offer drastically different discounts to customers who have not purchased a different product or volume.
Having a structured monetization strategy that includes disciplined pricing is beneficial on many levels. Your salespeople will have autonomy when pricing customers who want different options. This allows for deal velocity and not having to step away from the meeting thus diminishing the likelihood of closing. This also allows clearer transparency that translates into better long-term relationships with customers.
Every business leader in software knows the importance of monetization, yet not all of us have fully wrapped ourselves around it. This podcast with a monetization expert such as Mele helps frame things into perspective and maximize your growth and revenue.
Website - softwarepricing.com
LinkedIn - https://www.linkedin.com/in/christophermele/
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