Enter the Price Intelligently team
UserVoice didn’t need to look very far, having seen a lot of the content Price Intelligently (PI) shared in the pricing and packaging space.
“It was pretty clear from the beginning, [Price Intelligently] was the right partner based on who they've helped, the results they've produced in the past and the content we had seen and digested from them,” explains Morton.
UserVoice partnered with PI to discover their true value metrics, understand how to charge for their value, and ultimately figure out the best way to bundle features together. The PI team spent time getting to know UserVoice, their challenges, and their hypotheses around pricing.
Next up, data. PI strategists pulled market data unique to UserVoice’s products and customer base, derived from custom research work. They were able to ask how much customers are willing to pay or what features they value. For each series of research, the team then produced a set of recommendations, turning data into actionable insights that would ultimately go on to make improvements to UserVoice’s bottomline.
Morton says they soon realized that their work with PI wasn’t just a simple pricing exercise, it was a value proposition, packaging, value articulation, and ROI alignment exercise. From the very first set of research, UserVoice could see that they were undercharging their products despite thinking they were in fact, overcharging.