053: Optimizing Pricing Models to Scale to $175M in Sales with Mike Filsaime

Mike Filsaime is the CEO of Groove Digital, one of the fastest-growing software platforms for digital and e-commerce marketers. As an online marketing expert, educator, and consultant, Mike claims to have done more $1M launches than any other marketer in history.

In this episode, Mike shares his journey from college dropout to launching, managing, and scaling SaaS companies that have done over $175M in sales. He talks about the pros and cons of different pricing strategies, his process for increasing the lifetime value of a customer, and how his approach to running companies has changed after multiple successful exits.

You’ll also hear Mike’s “best tip” regarding products and offers, what he views as “the 2 most powerful things in marketing,” and his main focus when it comes to scaling.

Key Takeaways with Mike Filsaime

• Lifetime access vs. ongoing subscription pricing and how each can affect the lifetime value of a customer.
• How does a consumer’s mindset change when buying a product vs. buying an offer?
• The value Mike sees in the freemium model and how to optimize it.
• The metric Mike is currently focused on for scaling.
• How Mike leverages and evaluates open-source platforms to make SaaS development easier.
• How marrying multiple pricing models can increase the lifetime value of a company.
• The equation Mike calculates when running paid ads.
• Mike’s early entry into the SaaS space and how he believes consumer preferences have changed as the space evolves.
• Weighing work against retirement and finding purpose after achieving financial goals.

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