Case Study: Pricing for Different Industries for Healthtech B2C Platform

About the Company

Clinical Trials, health tech B2C platform focused on transforming participant recruitment and retention and simplifying the clinical trial process.

Client's Quote

“nDexio really helped me get to grips with the problem and break up the problem into smaller chunks. Then, nDexio was able to advise me on how to tackle those smaller chunks, make them bite-sized, and give me objectives to actually overcome the problem.”

Jasmine R., Founder

The Challenge

  • Price for different industries: They anticipated challenges including pricing competitiveness, particularly regarding academic budgets (since their team is mostly made of students), and the perceived value of the platform. 
  • Some trials may not require recruitment services, posing a challenge in positioning the platform for retention and management services only.

What We Did

  • Considered tiered pricing as a possibility and identified what the customer segments look like.
  • Organized a brainstorming session with the leadership team to set goals with regards to how much time they have, concrete commercial goals, etc. 
  • Spent time validating which customer segments they actually needed.
  • Discussed and defined concrete metrics to use as measurable goals for success, such as whether a product is gaining traction in a customer segment. 
  • Identified areas where a unified pricing strategy can be applied across multiple customer segments and where more specific approaches need to be designed.
  • Launched pilot programs in each industry to test pricing strategies and gather feedback from customers.

Outcome

Through the engagement, our client experienced positive outcomes including: 

  • Our client liked how concise our recommendations and next steps were, and felt that they were good, concrete items her team could start working on right away. 

Does our work align with the challenges or needs you currently face? Get in touch with the HelloAdvisr team. 

Case Study: Churn Mitigation Strategy for B2C SaaS Company

About the Company

B2C, SaaS company that provides a platform that connects pet owners with vetted sitters for in-home care using a user-friendly booking system and personalized care updates.

Client's Quote

“If you are a business leader who constantly finds yourself in the weeds and need to take a 10,000 foot view at your strategy and direction–especially when it comes to pricing and pricing strategies–nDexio would be the platform for you. It forces you to sit down, assess and think about your current situation, what your desired outcome is and what you need to do from a pricing perspective to get there, which can take the form of many different activities you need to do in the meantime to get you to your desired outcome…It’s like a sidekick consultant to your business to help you reach your outcomes.”

Sonya P., Founder

The Challenge

  • Set churn mitigation discounts: At the time of submitting a request, their churn rate was high (20%+), and they were having difficulty understanding the reason for churn, particularly with infrequent customers. 
  • They were also facing challenges to dedicate time and resources to researching reasons for the high churn rate as a small business team.

What We Did

  • After guiding their team to analyze their company and current practices through a series of tailored exercises we proposed the following solutions and action items: 
    • Reassess their current earnings plan for sitters, and see if there are any factors discouraging users of the service to join or return. Also, reassess their current user acquisition efforts, and whether they can be more efficiently allocated or expanded to reduce churn. 
    • Identify a list of non-discount offers (freebies and add-ons) that provide high value to customers at low-cost to the company to include in place of discounts.
    • Determine when and for which segments you should consider offering discounts in order to maximize retention and revenue if other offers and perks are not adequate for churn prevention.
    • Expand already ongoing effort on gathering customer feedback.
    • Segment infrequent users based on their behavior and characteristics. 
    • Try to implement targeted communication strategies to re-engage infrequent users. 
    • Establish a timeline and/or milestones for introducing churn prevention initiatives.

Outcome

Through the engagement, our client experienced positive outcomes including: 

  • Our client felt that our recommendations and next steps were very actionable.
  • They had no trouble integrating our recommendations into their existing strategy.

Does our work align with the challenges or needs you currently face? Get in touch with the HelloAdvisr team. 

Case Study: Pricing Strategy for B2C Femtech Brand

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.

Afshan D., Head of Growth

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. 

Case Study: New Product Pricing for B2C Wellness Platform

About the Company

Seed-stage consumer mental health company focused on  empowering and supporting the users with live and on-demand meditation sessions and tools delivered by top coaches. 

Client's Quote

It's great to have a professional to guide you through pricing, which seems simple but can be complex.

Stephen S.

The Challenge

  • Company operates in a highly competitive market, and needed a pricing strategy that captured the unique way the platform delivered meditation content and instruction. 
  • Pricing strategy aligned to financial growth forecasts and marketing acquisition straetgy. 

What We Did

  • Worked alongside the leadership team to define core pricing objectives and positioning strategy.
  • Designed and launched in-field pricing research with prospective users.
  • Created strategic recommendations for pricing model based on feature set preferences and willingness-to-pay.
  • Developed promotions, discounting and trial set-up structure.

Outcome

Through the engagement, our client experienced positive outcomes including: 

  • Designed pricing strategy and model aligned to the company’s value proposition and differentiation in the market. 
  • Increased LTV opportunity by more than 15%. 
  • Expanded tools for future price tests and optimizations. 
  • Company has since used the traction to secure new rounds of venture capital investment.

Does our work align with the challenges or needs you currently face? Get in touch with the HelloAdvisr team.