This article originates from a presentation at the Product Marketing Summit, San Francisco in 2022. Catch up with this presentation, and others, using our OnDemand service.
My name is Dinesh Chandrasekhar, and I’m the VP of Product Marketing, Customer Marketing, and Analyst Relations at LogicMonitor. I’ve been in the industry for over 27 years, 10 years of which I’ve spent managing pricing for various large corporations.
This topic is something that’s near and dear to my heart. I want to talk about pricing in the context of product marketing and the challenges that we face. We’ll explore how to address those challenges and improve our enterprises’ pricing strategies.
Am I going to give a one-size-fits-all solution? Absolutely not – there’s no such thing. What I am going to tell you is that most companies face similar challenges, so if you take my advice with a pinch of salt, you should be able to tailor it to fit your needs.
In this article, I’ll be addressing:
- Common pricing challenges
- Key tactics and strategies to drive pricing impact
- The PMM’s role in pricing
The price is NEVER right! Common pricing challenges
Yup, I lied in the title – the price is actually never right. That’s what you’ll inevitably hear from your sales teams: “Oh, the pricing is too complex,” or, “Our competitors’ pricing is much better.”
If that’s always the case, how do you create suitable pricing for your enterprise so that you and your sales teams are successful? That’s the question I’m here to answer.
If you’ve ever done a win-loss analysis as a product marketer, one of the top reasons that you will hear from sales reps as to why a deal was lost is that the pricing isn’t competitive.
However, if you talk to the customer, they might give you a more nuanced perspective on why they went with a competitor.
Still, time and again, this whole pricing conversation keeps slapping you in the face and you want to know how to fix it, so let’s talk about some of the key challenges.
