The Importance of Pricing and Packaging as a Growth Lever

Pricing and packaging can play a crucial role in achieving growth for a business. In the early stages, pricing is critical to finding product-market fit by determining the problem area important enough for customers to pay for. Flexible pricing options for technology companies open up numerous innovative monetization routes. Pricing changes can act as a powerful growth lever, leading to faster revenue growth. Many businesses overlook the importance of pricing and packaging, missing out on the opportunity to increase revenue. A dedicated pricing team or owner is crucial to drive pricing changes, and the involvement of a steering committee helps ensure alignment across departments.