Manage episode 229017570 series 2476247
What You’ll Learn from this Episode
- Discover how ProfitWell gathers information and subscription analytics to help businesses uncover and analyze the revenue growth
- Learn how Van Westendorp pricing model work
- Discover how to use the value matrix to optimize your product pricing
Peter Zotto is the General Manager of ProfitWell, a business intelligence solutions company which aims to improve retention and monetization automatically through unmatched subscription intelligence. He is one of the stars of the hit show, Pricing Page Teardown. He’s also a huge NBA junkie and he used to play at University of New Hampshire (UNH) in Durham, New Hampshire.
In today’s episode, Peter talks about an interesting relationship between value and willingness to pay and how these data help their pricing strategies with subscription companies. He also shares how he helps companies reduce churn, optimize pricing, and grow their subscription business end-to-end.
“Value is the intersection between willingness to pay and how much you value a particular product or service.”
- Peter Zotto
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03:51 – Peter shares how ProfitWell's helps companies reduce churn, optimize pricing, and grow their subscription business end-to-end
07:01 – How ProfitWell collects data as seen on their shows
10:40 – The reason why it’s not helpful to ask for somebody’s willing to pay
11:37 – Using Van Westendorp Price Sensitivity Meter’s in identifying consumer price preferences and its limitations
16:47 – How value matrix works, and how to win on the value proposition and not just price
22:01 – Announcement of Winner for Ep6 question: What is value?
24:07 –The perception of value and willingness to pay: how customers perceive a price is as important as the price itself
“It's not really helpful for me or for any of the listeners out there for you to say, 'Hey, when you want to identify pricing, just ask your market or your customers how much they're willing to pay.' Because they're going to give you numbers that are all over the place. And at the end of the day, they're all correct in the way that they think.” – Peter Zotto
“I think if we were thinking about value, it's really what are you willing to pay.” – Mark Stiving
Connect with Peter Zotto:
Connect with Mark Stiving
24 episodes available. A new episode about every 7 days averaging 25 mins duration .