Pricing is a critical business input and needs to be planned. Here is some guidance on how to plan pricing for 2024. Align Goals. Establish a baseline. Plan actions.

One of the most common questions that people ask Ibbaka is whether they should raise prices. B2B SaaS companies need to be careful about how they answer this question. The impact on Net Revenue Retention and usage needs to be considered.

Join Karen Chiang and Steven Forth on Wednesday November 29 for a PeakSpan Masterclass: Impacting 2024 Growth Through Pricing and Packaging. Join us at 8:00 AM Pacific, 11:00 AM Eastern.

The third and final step in planning pricing for 2024 is to explore the actions you could take in 2024 and build a pricing action playbook. This will allow you to move quickly as you execute on How to Win decisions. Speed is life.

Ibbaka has an ongoing research program in market segmentation, customer targeting and pricing. This connects to our other research in talent, competency and skill management. Market research is outside in. Skill research is inside out. This report is on pricing actions and pricing action portfolios.

“Everyone has a plan until they are punched in the face.” Mike Tyson famously said. Many of us feel like we have been punched in the face and are scrambling to respond and not react, adjusting our pricing, applying discounts and changing terms of trade on the fly. Willingness to pay has been replaced by ability to pay or even interest in paying. Let’s share how each of us are responding.

One cannot plan pricing actions in isolation. Pricing excellence requires a portfolio of possible actions, with different levels of investment and different levels of risk and return. Learn how to build and manage your pricing action portfolio.

Good pricing decisions require data. By the time you need to take action, it is often too late to collect the needed data or data collection adds to costs and delays. You can avoid this by setting up your CRM, financial data, user surveys and most importantly your SaaS offer to collect the data you will need.

Companies taking a customer centric strategy need to think about how they price. The customer experience of a price change is one of the key things that should be design in any pricing action. How you go about designing and communicating price changes has a big impact on market acceptance and willingness to pay (WTP).