Our choices aren't based solely on price 💸
Consumer choices are much deeper than we think, especially in B2B, where decisions aren't price-driven.
In 2008, Europanel released a surprising fact: Two-thirds of price inflation went largely unnoticed by consumers. 🤷🏽♂️
Today, we are witnessing the same thing. And while consumers aren't celebrating the price rise, they don't base their decision on it either. Factors such as quality, habit, features, and convenience are often more important. 💸 To survive and thrive during a recession, you need to leverage this purchase perception.
🤔What does this imply for B2B SaaS?
👉🏽 The decision drivers overshadowing price include features, reliability, scalability, customer support, and overall reputation.
👉🏽 Focus on influencing the perceived value of your product through education. Offer detailed case studies, showcase social proof, and addresses key pain points.
👉🏽 The market has a low price elasticity, but that doesn't mean your Pricing structure doesn't matter. If your SaaS has a subscription model, managing and communicating price changes in a recession may feel insensitive.
🔬 At Platforce, the pricing starts at x dollars a month, but this is not what generates revenue. They offer technical training, customer support, and custom development. All key features help upsell and maintain price competitiveness in the market 🏆
#b2bpricing #saasmarketing