Leveraging Inbound Marketing for SaaS Price Optimization

SaaS price optimization is not as easy as it sounds. It is about finding the sweet spot between the profit and delivering the value that you promise to deliver to your clients.

The right pricing strategy can make your business and make you stand out from others in the market.

For optimizing the SaaS pricing strategy, the nuance of inbound marketing is what drives it. Inbound Marketing put its focus on fetching potential customers towards the business using owned and earned media.

One of the main inbound marketing tools is HubSpot. The integration of HubSpot and SubscriptionFlow provides you with robust integration to fuel the marketing acquisition and retention strategies and optimize the SaaS billing pricing for the products.

In this article, we are going to look at the way you can leverage an inbound marketing tool and a subscription management platform to give your customers value while earning a good amount of profit.

Factors to Know for Optimizing Price Strategy

The pricing strategy cannot be made by knowing certain factors and one cannot achieve SaaS price optimization within seconds. Rather there is a lot more to it, in which, using the inbound marketing and data, the following factors can be drawn to optimize the pricing strategy for your product or services.

Let’s have a look at them

Customer survey and behaviour data
Demographic and psychographic data
Geographical market specifics
Historic sales data
Operating costs
Inventories
Demand fluctuations
Competitive advantages and concerns
Lifetime value and churn data

If we dig deeper into the factors, it can be seen that some of the factors require analytics (data generated by customer behaviour) while some of the factors generate using inbound marketing techniques and strategies.

To get data for demand fluctuations, the inbound marketing strategies can be used to know about customer demands and market trends. Moreover, if we talk about the lifetime value and churn data of a subscriber, the subscription management platform that serves retention management would be most helpful.

Ergo, the integration of a subscription management platform and a marketing automation tool will help you strategize the data for SaaS price optimization.

When SubscriptionFlow and HubSpot are integrated, merchants and business owners can use the data from both sides and devise a pricing strategy. The value metrics can be defined using the features that are prominent over the others and the according to those value metrics you set the pricing.

Now you have known enough about optimal pricing, then here are some of the ways that will facilitate it.

Make Strategies Based on Data

Both qualitative and quantitative data are integral to the optimal pricing for SaaS products and features. Any type of data regarding inventory, churn, user engagement, product engagement, churn rate demographics, and other forms of data will help you devise a strategy for the pricing that you will be able to offer to your potential customers.

You can also gather a lot of data by gathering feedback from the customers such as competitive advantage, perceived value, sales tactics, loyalty programs, promotions, discounts, or any thoughts on current pricing.

NPS or check with the customer satisfaction surveys so you can know the issues and pain points of the customers – and provide them with the solutions.

Know Your Value Metric And Charge Justly For It

Value metric is exactly what you sell to your customers. Knowing your value metrics is one of the most important points while mapping out the optimal SaaS pricing strategy.

Let your customers know about the value they will gain by using your product and service. Using customer behaviour and customer feedback you will understand the value metrics important in the set industry. It will surely facilitate you in designing SaaS price Optimization Strategy.

Use intelligent analytics and data to charge for the value you have promised to deliver to your clients. Let’s say if you are a SaaS business, then the merchant can set the frequency of the users or per user for the value metrics.

Create Pricing tiers

The creation of pricing tiers is always dependent on the value metrics determined by the data. After the value metrics have been propagated, the next step is to segment the data for creating different pricing tiers with different value metrics.

Each tier should align with the value metrics so that customers know the significance of each tier – knowing they are right about what they are purchasing.

It must be noted that creating price tiers and also creating optimal pricing for the tiers is not a once-done task. You will keep on learning and devising the right pricing strategy for the business keeping in view the demand of users and the fluctuation in demands of the market as a whole.

Select The Pricing Models to Offer

There are multiple pricing models in SaaS and B2B industries, however, not every pricing model suits every business. The pricing models can be selected using the customer’s data and understanding the target customers of what they want.

You can also run the search on competitive pricing models in the market so that you are not alienated in the industry.

Leverage SubscriptionFlow HubSpot Integration for Price Optimization – Attend INBOUND22

The grand event set up by HubSpot coming this September is INBOUND 2022. The event is going to talk about inbound marketing holistically so that digital marketers, sales teams, and other related personnel can take advantage of it.

Getting HubSpot integration with SubscriptionFlow will enable you to take your business to new heights and achieve a resilient retention rate with organized management of every process. Meet us there and discuss how a subscription and retention management platform like SubscriptionFlow can help you too bring more acquisition and retention in the pool.

Want to get the HubSpot and SubscriptionFlow Integration?

If you want to achieve seamless business operations, then schedule a demo with SubscriptionFlow. Also, contact us to get a SaaS price optimization for your business seamlessly.

Take the action while you want to expand the arena of your business and make it skyrocketing in terms of success – Optimize your SaaS pricing with SubscriptionFlow!