In episode #2249 we hear another session from the Leveling Up Founders Event where Patrick Campbell talks on the topic of pricing and retention strategies. Patrick recently sold his company ProfitWell to Paddle for about $250 million. On a monthly basis, he asks himself the question “What if a private equity firm bought us tomorrow?” Tune in to find out how looking at your business through the eyes of a private equity firm can help you in terms of pricing and retention.
TIME-STAMPED SHOW NOTES:
- [00:20] Today’s topic: Patrick Campbell on Pricing and Retention Strategies
- [00:45] Why you should ask yourself “What if a private equity firm bought us tomorrow?”
- [01:20] Why you should raise your prices if your NPS is over 20.
- [01:32] How to raise your prices and suggestions around messaging.
- [02:46] The most important point to include in your messaging.
- [03:13] The importance of add-ons.
- [03:48] Price localization: why you should have different prices for different regions.
- [04:14] Why you should cap discounts at 15%
- [04:32] Why 15 - 20% of your new monthly revenue should come from your existing user base.
- [04:57] Patrick’s closing words on cuddling with the chaos.
- [05:19] Find out more about the Leveling Up Founders Event at live.levelingup.com
- [05:50] That’s it for today! Don’t forget to rate, review and subscribe!
- [05:56] Go to https://marketingschool.io/live to learn more!
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