About the Company
Venture-backed modern wellness brand for menopause essentials. The brand is a leader in the $3.3 billion menopause treatment market, creating scientifically formulated products for menopause essentials as well as a trusted go-to for information and a supportive community.
Client's Quote
I'd highly recommend an engagement with [HelloAdvisr] to ensure you're thinking about pricing in a strategic way to support your business objectives.
The Challenge
- Brand operates in a fast growing, but highly competitive market, and needed to assess its approach and strategy to pricing its growing range of products.
- Product pricing had grown increasingly complex as the brand offered a several ways to purchasing – a la carte, bundles, and subscriptions.
- Additional strategic complexity as the brand expands into new channels including retail.
What We Did
- Designed a custom pricing strategy workshop with the brand’s senior leadership team.
- Assessed existing pricing portfolio – the prices and price combinations (including promotions and discounts) created and presented to customers.
- Conducted data analysis of brand sales and select customer and product cohorts.
- Reviewed the brand’s customer segmentation and value proposition.
Outcome
Through the engagement, our client experienced positive outcomes including:
- Built a pricing strategy framework the brand could use for new and existing products.
- Implemented pricing portfolio recommendations including discounts and bundles, increasing conversion rates.
- The company has continued to expand revenue growth, and preparing for the next round of fundraising.
Does our work align with the challenges or needs you currently face? Get in touch with the HelloAdvisr team.
