Pricing is the most important lever in your business. True, we’re a bit biased given we work with pricing all day, every day. However, think about the fact that everything you do in your business, from sales and marketing to your product and support, works to drive people to your pricing page, convert them, and keep them around as loyal customers.
Yet, we’ve found that companies only spend 6 hours on their pricing strategy in the entire history of their business. Not six hours a year. Not six hours a quarter. Six hours total. That’s kind of like trying to power a jet with a steam engine.
More Tech Services Stats
The median average contract length is 1.3 years and the average billing term is seven months in advance in 2016. Comparable to 2015, with average contract length shortening from 1.5 to 1.3 years and average billing period increasing by one month from 2015 to 7 months
More Growth Strategy Stats
If your Net Revenue Churn is high (above 2% per month) it is an indicator that there is something wrong in your business; which may have a dramatically negative effect on your company’s growth. Source: Mckinsey