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		<title>Why Pricing Is a Cross-Functional Challenge</title>
		<link>https://helloadvisr.com/blog/why-pricing-is-a-cross-functional-challenge/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 11 Dec 2024 23:12:30 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[Pricing]]></category>
		<category><![CDATA[Pricing Strategy]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/?p=5202</guid>

					<description><![CDATA[<p>Unlike most business decisions, pricing impacts and involves nearly every team in your organization. From executives to marketing, sales, product, finance, operations, and customer success, each function plays a role in defining and delivering value to customers—and they all have a stake in the pricing process. Here’s why it gets complicated: Marketing focuses on competitive [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/blog/why-pricing-is-a-cross-functional-challenge/">Why Pricing Is a Cross-Functional Challenge</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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<p><span style="font-weight: 400; color: #000000;">Unlike most business decisions, <a href="https://helloadvisr.com/why-startups-need-to-focus-on-pricing-more-than-they-think/">pricing impacts</a> and involves nearly every team in your organization. From executives to marketing, sales, product, finance, operations, and customer success, each function plays a role in defining and delivering value to customers—and they all have a stake in the pricing process.</span></p>
<p><span style="font-weight: 400; color: #000000;">Here’s why it gets complicated:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Marketing</b><span style="font-weight: 400;"> focuses on competitive positioning and branding, often prioritizing how pricing reflects your market stance.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Sales</b><span style="font-weight: 400;"> wants pricing flexibility to close deals and hit revenue targets.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Product</b><span style="font-weight: 400;"> cares about pricing as a reflection of the value delivered by features and innovation.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Finance</b><span style="font-weight: 400;"> zeroes in on margins and profitability, ensuring the numbers align with business goals.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Customer Success</b><span style="font-weight: 400;"> emphasizes retention, advocating for pricing that ensures long-term customer satisfaction.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Operations</b><span style="font-weight: 400;"> looks at pricing through the lens of scalability and efficiency, <span style="color: #000000;">ensuring processes are streamlined.</span></span></span></li>
</ul>
<p><span style="font-weight: 400; color: #000000;">In global companies, this complexity grows exponentially with input from local market teams who understand regional dynamics and customer expectations.</span></p>
<p><span style="font-weight: 400; color: #000000;">This diversity of perspectives makes pricing inherently cross-functional—and inherently contentious. Everyone brings different priorities, insights, and assumptions to the table.</span></p>
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<div class="wp-block-spacer" style="height: 46px;" aria-hidden="true">&nbsp;</div>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color" style="font-size: 28px;"><span style="color: #000000;"><strong>The Tension: Why Opinions on Pricing Rarely Align</strong></span></h2>
<p><span style="color: #000000;"><!-- /wp:heading --><!-- wp:paragraph {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}}},"textColor":"black"} --></span></p>
<p><span style="font-weight: 400; color: #000000;">Because pricing touches so many areas of the business, it’s no surprise that opinions about pricing decisions often diverge. Here’s why alignment is so difficult:</span></p>
<ol>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Different Priorities</b><span style="font-weight: 400;">: Each team has its own goals. For example, sales may push for discounts to close deals quickly, while finance resists those discounts to protect margins.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Fragmented Data</b><span style="font-weight: 400;">: Teams rely on different data points to form their opinions. Marketing may cite competitor pricing, while finance refers to cost structures, and product teams highlight feature value.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Emotional Stakes</b><span style="font-weight: 400;">: Pricing can evoke strong emotional responses because it feels personal. It represents the value of your work and your product, and disagreements can quickly escalate.</span></span></li>
</ol>
<p><span style="font-weight: 400; color: #000000;">This dynamic makes pricing not only a business decision but a litmus test of your company’s ability to collaborate effectively across departments.</span></p>
<div class="wp-block-spacer" style="height: 46px;" aria-hidden="true">&nbsp;</div>
<p><span style="color: #000000;"><!-- /wp:spacer --><!-- wp:heading {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}},"typography":{"fontSize":"28px"}},"textColor":"black"} --></span></p>
<h2 class="wp-block-heading has-black-color has-text-color has-link-color" style="font-size: 28px;"><span style="color: #000000;"><strong>Where Many Companies Struggle: The Trap of “Lazy Pricing” </strong></span></h2>
<p><span style="color: #000000;"><!-- /wp:heading --><!-- wp:paragraph {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}}},"textColor":"black"} --></span></p>
<p><span style="font-weight: 400; color: #000000;">In the face of complexity, many companies fall into the trap of “lazy pricing.” This approach is often characterized by:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Defaulting to the easiest option</b><span style="font-weight: 400;">: Following competitors’ pricing or applying a flat percentage increase <a href="https://helloadvisr.com/when-your-strategy-is-not-a-strategy/">without deeper analysis</a>.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Deferring the decision</b><span style="font-weight: 400;">: Choosing something “low lift” with the promise of revisiting it later.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Relying on short-term fixes</b><span style="font-weight: 400;">: Resorting to discounting or promotions to <a href="https://helloadvisr.com/value-debt-in-pricing-how-to-avoid-a-slow-startup-death/">patch up sales gaps</a>.</span></span></li>
</ul>
<p><span style="font-weight: 400; color: #000000;">The problem with lazy pricing is that “later” rarely happens. Like skipping the gym with the intention of starting next week, revisiting pricing often gets deprioritized. The result is a patchwork of decisions that undermine long-term growth.</span></p>
<p><span style="font-weight: 400; color: #000000;">When <a href="https://helloadvisr.com/stop-wasting-this-powerful-growth-tool/">pricing isn’t given the strategic focus</a> it deserves, it leads to:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Missed revenue opportunities</b><span style="font-weight: 400;">: Pricing too low leaves money on the table, while pricing too high can deter potential customers.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Erosion of customer trust</b><span style="font-weight: 400;">: Inconsistent or unclear pricing signals a lack of confidence in your value proposition.</span></span></li>
</ul>
<p><span style="color: #000000;"><b>Internal frustration</b><span style="font-weight: 400;">: Teams feel misaligned, leading to friction and inefficiency.</span></span></p>
<p><span style="color: #000000;"><!-- /wp:spacer --><!-- wp:heading {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}},"typography":{"fontSize":"28px"}},"textColor":"black"} --></span></p>
<h2>&nbsp;</h2>
<h2 class="wp-block-heading has-black-color has-text-color has-link-color" style="font-size: 28px;"><span style="color: #000000;"><strong>The Fitness Analogy: Why Pricing Needs Discipline</strong></span></h2>
<p><span style="color: #000000;"><!-- /wp:heading --><!-- wp:paragraph {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}}},"textColor":"black"} --></span></p>
<p><span style="font-weight: 400; color: #000000;">Think of pricing like fitness. To achieve meaningful results, you need a consistent routine, clear goals, and a <a href="https://helloadvisr.com/pricing-reviews-not-optional/">commitment to long-term progress</a>. Skipping workouts and relying on crash diets might seem convenient, but they rarely deliver sustainable results.</span></p>
<p><span style="font-weight: 400; color: #000000;">Similarly, sustainable pricing requires:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Clarity of strategy</b><span style="font-weight: 400;">: Know what you want to achieve and how pricing supports those goals.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Discipline in execution</b><span style="font-weight: 400;">: Stay committed to your pricing framework and avoid knee-jerk reactions.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><b>Cross-functional alignment</b><span style="font-weight: 400;">: Ensure every team understands and supports the strategy.</span></span></li>
</ul>
<p><span style="font-weight: 400; color: #000000;">When pricing is treated as a discipline, it becomes a lever for growth and a signal of organizational strength.</span></p>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color" style="font-size: 28px;"><span style="color: #000000;"><strong>How to Build a Strong Pricing Organization</strong></span></h2>
<p><span style="color: #000000;"><!-- /wp:heading --><!-- wp:paragraph {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}}},"textColor":"black"} --></span></p>
<p><span style="font-weight: 400; color: #000000;">So how do you move beyond lazy pricing and create a robust, strategic pricing process? Here are some best practices:</span></p>
<p><span style="color: #000000;"><b>1. Align Around a Clear Pricing Strategy</b></span></p>
<p><span style="font-weight: 400; color: #000000;">Start by <a href="https://helloadvisr.com/ha-foundations-3-approaches-to-pricing/">defining your pricing strategy.</a> Is your goal to maximize revenue, penetrate the market, or signal premium value? Your strategy should align with your broader business goals and provide a clear framework for decision-making.</span></p>
<p><span style="color: #000000;"><strong>2. Establish Cross-Functional Ownership</strong></span></p>
<p><span style="font-weight: 400; color: #000000;">Pricing shouldn’t live in a silo. Create a cross-functional pricing committee with representatives from key teams. This group should own the process, ensure alignment, and resolve conflicts when they arise.</span></p>
<p><span style="color: #000000;"><strong>3. Use Data to Drive Decisions</strong></span></p>
<p><span style="font-weight: 400; color: #000000;">Pricing is part art, part science. Invest in tools and analytics to gather data on customer behavior, willingness to pay, competitive benchmarks, and cost structures. Use this <a href="https://helloadvisr.com/data-myth-actionable-insight/">data to inform decisions</a> and minimize subjective bias.</span></p>
<p><span style="color: #000000;"><strong>4. Communicate Pricing Decisions Clearly</strong></span></p>
<p><span style="font-weight: 400; color: #000000;">Once decisions are made, communicate them effectively to all teams. Transparency is key to building trust and ensuring consistent execution across the organization.</span></p>
<p><span style="color: #000000;"><strong>5. Iterate, but Don’t Procrastinate</strong></span></p>
<p><span style="font-weight: 400; color: #000000;">Pricing is not a “set it and forget it” activity, but neither should it be an endless cycle of changes. Build in regular review cycles to revisit and refine your pricing strategy based on market dynamics and performance data.</span></p>
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<p><span style="color: #000000;"><!-- /wp:spacer --><!-- wp:heading {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}},"typography":{"fontSize":"28px"}},"textColor":"black"} --></span></p>
<h2 class="wp-block-heading has-black-color has-text-color has-link-color" style="font-size: 28px;"><span style="color: #000000;"><strong>Ask Yourself: How Does Your Company Measure Up?</strong></span></h2>
<p><span style="color: #000000;"><!-- /wp:heading --><!-- wp:paragraph {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}}},"textColor":"black"} --></span></p>
<p><span style="font-weight: 400; color: #000000;">Pricing is not just about numbers; it’s a reflection of your organization’s ability to collaborate, align, and execute. So, here’s the question: How would you rate your company’s pricing process?</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400; color: #000000;">Is it structured and strategic, or reactive and fragmented?</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400; color: #000000;">Do teams feel empowered and aligned, or are they stuck in debates and misalignment?</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400; color: #000000;">Are you proactively driving long-term results, or relying on short-term fixes?</span></li>
</ul>
<p><span style="font-weight: 400; color: #000000;">If pricing feels like an ongoing struggle, you’re not alone. Many companies wrestle with these challenges. But the good news is that pricing is a skill you can develop—through clarity, discipline, and cross-functional collaboration.</span></p>
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<h3><span style="color: #000000;"><strong>Conclusion: Pricing as a Lever for Growth</strong></span></h3>
<p><span style="color: #000000;"><!-- /wp:heading --><!-- wp:paragraph {"style":{"elements":{"link":{"color":{"text":"var:preset|color|black"}}}},"textColor":"black"} --></span></p>
<p><span style="font-weight: 400; color: #000000;">Done well, pricing is not just a business decision; it’s a competitive advantage. It signals your value to customers, aligns your teams around shared goals, and drives sustainable growth.</span></p>
<p><span style="font-weight: 400; color: #000000;">But pricing success doesn’t happen by accident. It requires intentionality, collaboration, and a commitment to treating pricing as a strategic discipline.</span></p>
<p><span style="font-weight: 400; color: #000000;">So, what’s your next step? Evaluate your pricing process, engage your teams, and start building a foundation for long-term success.</span></p>
<p><span style="font-weight: 400; color: #000000;">I’d love to hear your experiences. How has your team approached pricing? What challenges have you faced, and what solutions have worked?</span></p>
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		<p>The post <a href="https://helloadvisr.com/blog/why-pricing-is-a-cross-functional-challenge/">Why Pricing Is a Cross-Functional Challenge</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
]]></content:encoded>
					
		
		
		<post-id xmlns="com-wordpress:feed-additions:1">5202</post-id>	</item>
		<item>
		<title>Navigating the FTC&#8217;s &#8216;Click to Cancel&#8217; Rule: What Every Subscription Business Needs to Know</title>
		<link>https://helloadvisr.com/blog/navigating-the-ftc-click-to-cancel-rule/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Tue, 05 Nov 2024 23:30:04 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[FTC]]></category>
		<category><![CDATA[Pricing Strategy]]></category>
		<category><![CDATA[Subscription Model]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/?p=5088</guid>

					<description><![CDATA[<p>What is the &#8220;Click to Cancel&#8221; Rule? The “Click to Cancel” rule requires companies to provide an easy, online option for canceling subscriptions—mirroring the simplicity of the sign-up process. Under the rule, consumers can opt out of subscriptions via an accessible, one-click option. Additionally, businesses must secure clear consent before charging for memberships or free-to-paid [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/blog/navigating-the-ftc-click-to-cancel-rule/">Navigating the FTC&#8217;s &#8216;Click to Cancel&#8217; Rule: What Every Subscription Business Needs to Know</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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<p><span style="font-weight: 400; color: #000000;">With rising concerns about subscription cancellation barriers, the Federal Trade Commission (FTC) has introduced a &#8220;Click to Cancel&#8221; rule, requiring companies with subscription models to simplify their cancellation processes. In this article, we’ll cover what the rule entails, its background, and practical steps for compliance.</span></p>
</div>
<p></p>
<div class="wp-block-spacer" style="height: 46px;" aria-hidden="true">&nbsp;</div>
<p></p>
<h2 class="wp-block-heading has-black-color has-text-color has-link-color wp-elements-dd7474a68b64608c26481b3592b5421c" style="font-size: 28px;"><span style="color: #000000;"><strong>What is the &#8220;Click to Cancel&#8221; Rule?</strong></span></h2>
<p><span style="color: #000000;"></span></p>
<p class="wp-elements-b1c4e55560390df4c87158364fe51129 wp-block-paragraph"><span style="font-weight: 400; color: #000000;">The “Click to Cancel” rule requires companies to provide an easy, online option for canceling subscriptions—mirroring the simplicity of the sign-up process. Under the rule, consumers can opt out of subscriptions via an accessible, one-click option. Additionally, businesses must secure clear consent before charging for memberships or free-to-paid trial conversions.</span></p>
<p><span style="font-weight: 400; color: #000000;">Here, subscription services refer to recurring payment arrangements for goods or services, such as streaming platforms, gym memberships, and product subscriptions. These models rely on “negative option” features, where a customer’s inaction (e.g., not canceling) leads to continued charges.</span></p>
<p><span style="font-weight: 400; color: #000000;">More specifically, the FTC&#8217;s new rule enforces several key requirements:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Clear and Accessible Information</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Companies must provide truthful, visible information about subscription terms, renewal conditions, and pricing so consumers know exactly what they’re agreeing to.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Consent Confirmation</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Businesses must ensure that consumers fully understand their agreement before being charged and should maintain records of customer consent.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Symmetric Cancellation Process</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Cancellation must be as easy as sign-up, with companies offering the same channels. If customers sign up online, they must be able to cancel online; if they sign up in person, cancellation can also be done over the phone or online.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Penalties for Non-Compliance</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Companies that violate these terms risk penalties, including consumer redress and civil penalties for misleading or obstructing consumers.</span></span></li>
</ul>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color wp-elements-5d338f26ddb60f0e59c6eae55ae4a308" style="font-size: 28px;"><strong>Why Was This Rule Created?</strong>&nbsp;</h2>
<p><span style="color: #000000;"></span></p>
<p class="wp-elements-5c8e854c0991b7fffc1f1c7b39ee8612 wp-block-paragraph"><span style="font-weight: 400; color: #000000;">The rule was introduced after numerous consumer complaints about the difficulty of unsubscribing. Many businesses have complex cancellation processes that make it easy to subscribe but challenging to leave. By establishing this rule, the FTC seeks to protect consumers from misleading practices that create obstacles to ending subscriptions.</span></p>
<p><span style="font-weight: 400; color: #000000;">The core issue is the accessibility and transparency of cancellation options. For years, companies have implemented barriers like hidden steps, live-agent requirements, and unresponsive online portals to retain customers. The “Click to Cancel” rule tackles these barriers by mandating streamlined processes.</span></p>
<p><span style="font-weight: 400; color: #000000;">So, this rule should help FTC get money back to people who are misled and address common problems that include: (1) Sellers who don’t tell the truth or leave out necessary information (2) People who get billed when they didn’t agree to pay (3) Sellers who make it hard (or impossible) to cancel.</span></p>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color wp-elements-6205e38d7e5997781af3a4aee74903ed" style="font-size: 28px;"><strong>What This Means for B2B and B2C Subscription Companies</strong></h2>
<p><span style="color: #000000;"></span></p>
<p class="wp-elements-e20d38071156f2c710a121ab2baf0304 wp-block-paragraph"><span style="font-weight: 400; color: #000000;">This rule impacts both B2B and B2C companies that use subscriptions in their business model by demanding transparent subscription renewal terms and simplified cancellation options. B2B companies offering SaaS platforms and B2C companies running membership programs must now make their cancellation methods as user-friendly as their sign-up processes.</span></p>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color wp-elements-32b987adee7c15608a40169cfae2362f" style="font-size: 28px;"><strong>How Companies can Comply and Prepare</strong></h2>
<p><span style="color: #000000;"></span></p>
<p class="wp-elements-a731ff6fdd1f237a884c1f224e8d0b14 wp-block-paragraph"><span style="font-weight: 400; color: #000000;">For companies to comply with the new rule, they should consider the following:</span></p>
<ol>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Implement Simple Cancellation</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Introduce a single-click cancellation option, ensuring customers can cancel as easily as they signed up.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Clarify Subscription Terms</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Make subscription terms and renewal conditions clear and accessible, especially on sign-up pages.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Update Customer Support Protocols</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Train customer service teams on the rule’s requirements, focusing on providing fast, compliant cancellation options.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Audit Internal Systems</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Ensure your billing and CRM systems support the new rule by instantly stopping charges upon cancellation.</span></span></li>
</ol>
<p><span style="font-weight: 400; color: #000000;">To maintain compliance while retaining customers and gaining valuable insights, companies should consider:</span></p>
<ol>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Loss Aversion Offers</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Non-intrusive retention offers on cancellation pages allow customers to reconsider without impacting compliance.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Feedback Surveys</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Optional, brief surveys on cancellation pages provide insights into customer churn without creating roadblocks.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Engagement Follow-Ups</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> After cancellation, send follow-up emails to gather more detailed feedback and encourage former customers to share their experiences.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="color: #000000;"><span style="text-decoration: underline;"><span style="font-weight: 400;">Data Analytics</span></span><span style="font-weight: 400;"><span style="text-decoration: underline;">:</span> Use analytics tools to monitor user behavior and identify patterns leading to cancellations, allowing for proactive adjustments to the service or communication strategy.</span></span></li>
<li style="font-weight: 400;" aria-level="1"><span style="text-decoration: underline;"><span style="font-weight: 400; color: #000000; text-decoration: underline;">Customer Education</span></span><span style="font-weight: 400;"><span style="color: #000000;"><span style="text-decoration: underline;">:</span> Provide resources that explain subscription benefits and usage tips, which may reduce cancellations by enhancing customer value perception.</span></span></li>
</ol>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color wp-elements-a3251f6ce8ef8da733f067203d900c4f" style="font-size: 28px;"><strong>What Opportunities Do the New Rules Create?</strong></h2>
<p><span style="color: #000000;"></span></p>
<p class="wp-elements-0f85aadad80098991d4b697026d87249 wp-block-paragraph"><span style="font-weight: 400; color: #000000;">The FTC&#8217;s &#8220;Click to Cancel&#8221; rule, while adding compliance requirements, offers subscription businesses valuable opportunities to enhance their competitive edge, build stronger customer relationships, and refine pricing strategies.&nbsp;</span></p>
<p><span style="font-weight: 400; color: #000000;">Here’s how your business can turn these new rules into strategic advantages:</span></p>
<ol>
<li aria-level="1"><span style="color: #000000;"><b>Enhance Your <span style="color: #000000;">Competitive Positioning: </span></b>In the past, a cumbersome cancellation process may have masked a lower willingness-to-pay or revealed gaps in pricing power. With the new FTC rules requiring more straightforward cancellation, subscription businesses can no longer rely on friction-filled processes to retain customers. Instead, this shift enables you to improve your competitive positioning by providing a transparent, customer-first experience.</span></li>
<li aria-level="1"><span style="color: #000000;"><b>Build Stronger Relationships with Your Customers: </b>With easier cancellation options, your customer retention will now depend even more on the actual value your service delivers. Use this as an opportunity to better understand what drives value for your customers—what keeps them satisfied, <a href="https://helloadvisr.com/understanding-the-difference-between-what-customers-ask-for-vs-want-to-buy/">what increases their willingness-to-pay</a>, and what boosts <a href="https://helloadvisr.com/power-of-loyalty-unlocking-willingness-to-pay/">long-term retention</a>. A proactive approach here allows you to adapt more effectively, creating offerings that align more closely with customer expectations and needs. </span></li>
<li aria-level="1"><span style="color: #000000;"><b>Re-evaluate Your Pricing and Packaging: </b>What worked in the past may no longer meet the <a href="https://helloadvisr.com/how-subscription-pricing-transformed-the-business-model/">evolving demands of subscription customers</a>, who now know more and demand more. The new rule changes provide an ideal moment to <a href="https://helloadvisr.com/subscription-services-and-tiered-pricing-with-netflix/">revisit your pricing and packaging</a> to ensure they reflect the value your product provides. Consider whether your current subscription tiers, pricing, or feature sets still align with customer expectations or whether adjustments could better highlight your value.</span>&nbsp;</li>
</ol>
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<h2 class="wp-block-heading has-black-color has-text-color has-link-color wp-elements-4fc838eadc9e18083c41a6a6e212fbb9" style="font-size: 28px;"><strong>Final Thoughts</strong></h2>
<p><span style="color: #000000;"></span></p>
<p class="wp-elements-a4a081b8252e04e5510f6948fd92385f wp-block-paragraph"><span style="font-weight: 400; color: #000000;">As the FTC enforces its “Click to Cancel” rule, B2B and B2C subscription companies must align with its standards to maintain compliance and customer trust. By updating processes, simplifying cancellations, and clearly communicating subscription terms, companies can adapt to this shift towards consumer-friendly practices.</span></p>
<p><span style="font-weight: 400;"><span style="color: #000000;">For further details, refer to the FTC release</span> </span><a href="https://www.ftc.gov/news-events/news/press-releases/2024/10/federal-trade-commission-announces-final-click-cancel-rule-making-it-easier-consumers-end-recurring"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400; color: #000000;">.</span></p>
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<h2 class="wp-block-heading" style="font-size: 28px;"><b>Did you know?&nbsp;</b></h2>
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		<p>The post <a href="https://helloadvisr.com/blog/navigating-the-ftc-click-to-cancel-rule/">Navigating the FTC&#8217;s &#8216;Click to Cancel&#8217; Rule: What Every Subscription Business Needs to Know</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">5088</post-id>	</item>
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		<title>Case Study: Operations Strategy for Leading Influencer and PR Agency in Beauty and Wellness</title>
		<link>https://helloadvisr.com/case-study/case-study-team-and-organizational-alignment-for-marketing-agency/</link>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Fri, 06 Sep 2024 04:49:53 +0000</pubDate>
				<category><![CDATA[Case study]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[Organizational Goals]]></category>
		<category><![CDATA[Pricing Strategy]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/?p=4901</guid>

					<description><![CDATA[<p>The Company A digital marketing agency helping brands scale through creative digital strategy and personalized content. The agency offers services such as branding, social media management, and influencer marketing to build strong connections between businesses and their audiences while driving engagement and growth. The Challenge As the agency scaled, it faced growing complexity in managing [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/case-study/case-study-team-and-organizational-alignment-for-marketing-agency/">Case Study: Operations Strategy for Leading Influencer and PR Agency in Beauty and Wellness</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
]]></description>
										<content:encoded><![CDATA[		<div data-elementor-type="wp-post" data-elementor-id="4901" class="elementor elementor-4901">
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									<p><span style="font-weight: 400;">A digital marketing agency helping brands scale through </span><b>creative digital strategy</b><span style="font-weight: 400;"> and</span><b> personalized content</b><span style="font-weight: 400;">. The agency offers services such as </span><b>branding, social media management, and influencer marketing</b><span style="font-weight: 400;"> to build strong connections between businesses and their audiences while driving engagement and growth.</span></p>								</div>
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									<p><span style="font-weight: 400;">As the agency scaled, it faced growing complexity in managing its people operations, performance processes, and aligning employee goals with broader organizational objectives.</span></p><ul><li style="font-weight: 400;" aria-level="1"><b>Lack of structure in performance reviews</b><span style="font-weight: 400;"> – Inconsistent evaluations created confusion and undermined alignment across teams.</span></li><li style="font-weight: 400;" aria-level="1"><b>Limited feedback mechanisms</b><span style="font-weight: 400;"> – The absence of continuous feedback made it difficult to foster professional development and engagement.</span></li><li style="font-weight: 400;" aria-level="1"><b>Misalignment between individual and organizational goals</b><span style="font-weight: 400;"> – Without a clear framework, employee efforts were not consistently linked to company objectives, and there were limited tools to foster growth and development.</span></li><li style="font-weight: 400;" aria-level="1"><b>Need for better communication and insight</b><span style="font-weight: 400;"> – The company required a more transparent and data-informed approach to track performance and drive decision-making.</span></li></ul><p><span style="font-weight: 400;">To support its long-term growth, the agency needed a </span><b>structured, scalable performance strategy</b><span style="font-weight: 400;"> that fostered transparency, engagement, and alignment.</span></p>								</div>
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									<p><span style="font-weight: 400;">HelloAdvisr partnered with the agency to </span><b>redesign its people performance strategy</b><span style="font-weight: 400;">, aligning team development with business goals and creating a foundation for sustained organizational growth.</span></p><p><span style="font-weight: 400;"><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </span><b>Performance Strategy Redesign</b><b><br /></b><span style="font-weight: 400;"> Created a structured performance review framework to ensure </span><b>consistency, transparency, and meaningful evaluations across the organization</b><span style="font-weight: 400;">.</span></p><p><span style="font-weight: 400;"><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </span><b>Team Insight Discovery</b><b><br /></b><span style="font-weight: 400;"> Conducted in-depth interviews with individual team members to uncover </span><b>root challenges and opportunities for improvement</b><span style="font-weight: 400;"> in people operations.</span></p><p><span style="font-weight: 400;"><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </span><b>Feedback &amp; Goal Alignment System</b><b><br /></b><span style="font-weight: 400;"> Introduced structured feedback loops, goal-setting practices, and continuous performance tracking to </span><b>align individual development with broader company objectives</b><span style="font-weight: 400;">.</span></p>								</div>
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									<p><span style="font-weight: 400;">With a refreshed performance strategy in place, the agency achieved:</span></p><p><span style="font-weight: 400;"><img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </span><b>Greater transparency and communication</b><span style="font-weight: 400;"> – Improved dialogue between team members and senior leadership strengthened trust and collaboration.</span><span style="font-weight: 400;"><br /></span><span style="font-weight: 400;"> <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f4a1.png" alt="💡" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </span><b>Stronger engagement and alignment</b><span style="font-weight: 400;"> – Clearer goals and consistent feedback created stronger connections between employee efforts and business outcomes.</span><span style="font-weight: 400;"><br /></span><span style="font-weight: 400;"> <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </span><b>Improved operational efficiency</b><span style="font-weight: 400;"> – Streamlined performance processes enabled faster, more informed decision-making and long-term scalability.</span></p><p><span style="font-weight: 400;">By aligning performance strategy with business goals, the company is now equipped to </span><b>scale its operations, strengthen team development, and drive sustainable growth</b><span style="font-weight: 400;">.</span></p>								</div>
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									<p>Does our work align with the challenges or needs you currently face? Get in touch with the <a href="https://helloadvisr.com/contact/">HelloAdvisr team</a>. </p>								</div>
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		<p>The post <a href="https://helloadvisr.com/case-study/case-study-team-and-organizational-alignment-for-marketing-agency/">Case Study: Operations Strategy for Leading Influencer and PR Agency in Beauty and Wellness</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">4901</post-id>	</item>
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		<title>When Your Strategy Is Not A Strategy</title>
		<link>https://helloadvisr.com/uncategorized/when-your-strategy-is-not-a-strategy/</link>
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		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Tue, 06 Jul 2021 13:30:00 +0000</pubDate>
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					<description><![CDATA[<p>I have seen a lot of startups over the years. I often get asked to look over their pricing strategy, and nine out of ten times it is rarely a strategy. Usually it is a single price or something similar to the market leader in the industry.&#160; And that&#8217;s ok! Having an idea of how [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/uncategorized/when-your-strategy-is-not-a-strategy/">When Your Strategy Is Not A Strategy</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">I have seen a lot of startups over the years. I often get asked to look over their pricing strategy, and nine out of ten times it is rarely a strategy. Usually it is a single price or something similar to the market leader in the industry.&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">And that&#8217;s ok! Having an idea of how others in the market price is a good start.&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">The problem is, it&#8217;s not a strategy.&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">Startups often focus on getting to the &#8220;magic number&#8221; rather than on the key questions they should be asking or the context the pricing strategy should operate in for the startup.&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">In the startup world, the goal is focus. Startups that have grown successfully, did so because they quickly removed ambiguity of where they are going early and often. They had a strategy or at least the makings of one.&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">If you can put in the effort to understand the problem at hand, then why are you &#8220;failing fast&#8221; by trying to do 200 things with your startup? It&#8217;s ok not to know what will work. Learning is part of the process. That starts by creating a plan that generate hypotheses you can test and iterate on. This is the food feeding your strategy blueprint.</span></p>



<p class="has-medium-font-size wp-block-paragraph">Take Slack as an example. Founded in 2009, Slack took a focused 7 year journey to achieving product-market-fit. While the platform had use cases that went far beyond technology-based companies including large enterprises and SMBs, the leadership focused squarely on tech startups. The early Slack team was incredible focused. They focused squarely on their <a href="https://helloadvisr.com/blog/reimagine-segmentation-create-customer-rings-instead/"><span style="text-decoration: underline;"><span style="color: #0000ff; text-decoration: underline;">core customer rings</span></span></a> that included tech startups in key startup ecosystems where team sizes were small. They wanted to grow with their customers who were not only willing to adopt the new platform but were also willing-to-pay because they connected with the value offered and delivered.&nbsp;</p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">One exercise we do early-on with our clients is an evaluation of the existing strategy.</span></p>



<p class="has-medium-font-size wp-block-paragraph"><b>Look at your own current strategy, and ask yourself: </b><span style="font-weight: 400;">&nbsp;</span></p>



<ol class="wp-block-list">
<li><span style="font-weight: 400;"> Does it help us transform our startup?</span></li>



<li><span style="font-weight: 400;"> Can we do it well?&nbsp;</span></li>



<li><span style="font-weight: 400;"> Will it enhance our acquisition strategy (and the unit economics)?</span></li>



<li><span style="font-weight: 400;"> Does it scale?</span></li>



<li><span style="font-weight: 400;"> Is it defendable with the resources and talent we have?</span></li>



<li><span style="font-weight: 400;"> Do customers question whether it is &#8220;worth it&#8221;?&nbsp;</span></li>



<li><span style="font-weight: 400;"> Longer term, if we stay on this path, does </span><span style="text-decoration: underline;"><span style="color: #0000ff;"><a style="color: #0000ff;" href="https://helloadvisr.com/blog/value-debt-in-pricing-how-to-avoid-a-slow-startup-death/"><span style="font-weight: 400;">the strategy create value debt</span></a></span></span><span style="font-weight: 400;"> for our startup?&nbsp;</span></li>
</ol>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">This should give you a starting point of your strategy&#8217;s strengths, weaknesses and gaps. This should also create a long-list of questions that require further research and fact/information-finding. As we often say to our clients, the discovery process never ends, just the simplicity of the approach.&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">This also gives you a chance to build creative ideas &#8211; or strategic choices &#8211; and build around this to quickly test and eliminate options. It is important to not only get outcomes, but understand why it didn&#8217;t work. If learning is not part of the process, you will blame the pricing. It&#8217;s not the pricing, </span><span style="text-decoration: underline;"><i><span style="font-weight: 400;">it&#8217;s your approach</span></i></span><span style="font-weight: 400;">.&nbsp;&nbsp;</span></p>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">If you&#8217;d like help thinking through your pricing strategy, <a href="https://helloadvisr.com/connect/"><span style="color: #0000ff;"><span style="text-decoration: underline;">contact us</span></span></a>. If you have a pricing strategy that works &#8211; fantastic! Keep it going and look for ways to enhance it and evolve it as your startup continues to grow.</span></p>



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<p class="has-medium-font-size wp-block-paragraph"><strong>Note:</strong> This article was originally shared to our email newsletter subscribers. If you want to get early access to articles, tools and updates <a href="http://eepurl.com/dszXeT"><span style="color: #ff0000;"><span style="text-decoration: underline;"><span style="color: #0000ff; text-decoration: underline;">signup for our free bi-monthly newsletter clicking here</span></span></span></a>.&nbsp;</p>



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<h2 class="wp-block-heading"><b>Found this article helpful?</b></h2>



<p class="has-medium-font-size wp-block-paragraph"><span style="font-weight: 400;">Sharing is caring. <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/2764.png" alt="❤" class="wp-smiley" style="height: 1em; max-height: 1em;" /></span></p>



<p class="has-medium-font-size wp-block-paragraph">Share this on social &#8211; super easy 1-click share buttons below <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;" /> &#8211; or send this article to a colleague or friend who can learn something new to empower their company or hustle.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">3154</post-id>	</item>
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		<title>Thoughts On The New Business Reality For Entrepreneurs</title>
		<link>https://helloadvisr.com/uncategorized/thoughts-on-the-new-business-reality-for-entrepreneurs/</link>
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		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Thu, 12 Mar 2020 22:29:52 +0000</pubDate>
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					<description><![CDATA[<p>The post <a href="https://helloadvisr.com/uncategorized/thoughts-on-the-new-business-reality-for-entrepreneurs/">Thoughts On The New Business Reality For Entrepreneurs</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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<p><span style="font-weight: 400;">What the future holds is more uncertain than ever before. </span></p>
<p><span style="font-weight: 400;">On a global scale, coronavirus (COVID-19) is challenging our institutions to contain and communicate, let alone manage and cure. Coronavirus is changing how we live our lives. </span></p>
<p><span style="font-weight: 400;">Understandably, the new reality has raised fear and uncertainty. And its showing. </span></p>
<p><span style="font-weight: 400;">The public markets have seen <a href="https://www.bloomberg.com/news/articles/2020-03-08/yen-slides-as-oil-price-war-adds-to-global-worries-markets-wrap">massive stock market selloffs</a></span><span style="font-weight: 400;">. Large-scale events (e.g. SXSW, Google IO) are <a href="https://www.vox.com/recode/2020/2/27/21156676/coronavirus-facebook-f8-canceled-major-tech-conferences-covid-19">canceled or rescheduled</a></span><span style="font-weight: 400;">. Universities and schools are shutting down public events and <a href="https://www.latimes.com/california/story/2020-03-10/ucla-to-cancel-most-in-person-classes-until-early-april-to-protect-against-coronvirus">moving to online learning</a>. Whole countries are <a href="https://www.theguardian.com/world/gallery/2020/mar/11/italy-coronavirus-lockdown-leaves-streets-deserted-in-pictures">shutting down</a>. Investors are issuing caution and warnings to portfolio companies and the general markets alike. Then there’s <a href="https://www.nbclosangeles.com/news/coronavirus/los-angeles-coronavirus-costco-hoarding-stop/2323197">toilet paper hoarding</a>…</span></p>
<p><span style="font-weight: 400;">All indications point to the situation getting worse, before it gets better. </span></p>
<p><span style="font-weight: 400;">Having seen some of the biggest downturns of the last two decades &#8211; the tech bubble of the naughts, 9/11, and the global financial crash &#8211; and recent events creates a necessary moment of pause and reflection. </span></p>
<p><span style="font-weight: 400;">W</span><span style="font-size: inherit;">here do we go from here? What does this mean from a business perspective? </span></p>
<p><span style="font-weight: 400;">Our forecasts never include a global virus pandemic. Most forecasts are more often than not, up and towards the right. </span><span style="font-weight: 400;">As we navigate the new reality, we want to reflect on some thoughts, as we take stock of the current business climate and plans forward.  </span></p>
<p> </p>
<h2><b>1. Entrepreneurs are resilient</b></h2>
<p><span style="font-weight: 400;">What makes entrepreneurs special is that entrepreneurs are built to overcome adversity. It’s in their DNA. The genesis of any company starts from a position of doubt. Doubt that the product can work. Doubt the company can be a viable business. Doubt from everyone not on the team (or your mother). The desire to build a solution to a problem, is not timed to the markets. Entrepreneurs did not start their companies by timing the market and market conditions. They started their companies because they saw a need for what they are building, and was driven by passion and grit to make that a reality. </span></p>
<p> </p>
<h2><b>2. Strong business fundamentals are key</b></h2>
<p><span style="font-weight: 400;">Weathering the storm &#8211; any storm &#8211; <a href="https://helloadvisr.com/blog/the-theme-we-will-talk-about-in-the-new-decade/">requires a strong business foundation to stand on</a>. In better times, “you can put lipstick on a pig”, but when uncertainty increases, it is hard to hide a business standing behind weak fundamentals. This includes everything from the company&#8217;s capital position, business model, pricing power, and team and culture. It’s not the good times that test what the company is made of, but the rough(er) times that see what the company can do and will go. </span></p>
<p> </p>
<h2><b>3. Proactive planning creates new ideas for growth</b></h2>
<p><span style="font-weight: 400;">If planning was an admin exercise in the past, planning will be more critical as the macro environment rapily evolvates. “Fail fast” can be a very unwelcomed premonition in times of uncertainty for company leadership, and the employees that depend on them. As a leader, this is where level of preparation and strategy is key. The paradigm is shifting. In the short term, the greatest impact is to make the most out of every new deal and customer, and position the company to weather the current storm. Longer-term planning is to capitalize on missteps of competitors and build a value creation machine that will help the company grow faster and deeper. </span></p>
<p> </p>
<h2><b>4. Don’t be a toilet paper hoarder</b></h2>
<p><span style="font-weight: 400;">There is caution and conservative decision-making, then there’s panic and paranoia. Knowing where to conserve, and where to spend will be one of the hardest decisions companies will have to make. Making panic decisions and following the herd must be avoided. It is behavior we are seeing today, but as <a href="https://www.theguardian.com/science/2020/mar/06/dont-let-coronavirus-tip-society-into-panic-say-psychologists">Oxford University researcher Zhibo Qui points out in the current crisis</a>, rising anxiety makes more people likely to conform and fail to address the real issues. </span></p>
<p><span style="font-weight: 400;">For those who started their first company (or first job) in the last ten years, this will be the first time exposed to this level of macro-uncertainty. It’s vital to form pragmatic decisions based on known information, and scenario plan to navigate the months ahead. One suggestion made by Sequoia Capital to its founders and companies in their &#8220;Black Swan&#8221; memo, to to rethink and reassess how their companies run. When it comes to marketing it’s not only about reining in spending but to “<a href="https://medium.com/sequoia-capital/coronavirus-the-black-swan-of-2020-7c72bdeb9753">consider raising the bar on ROI for marketing spend</a>”.  </span><span style="font-weight: 400;">This is not only about stopping or cutting spending &#8211; EVERYONE will do that in a market downturn &#8211; but <a href="https://helloadvisr.com/blog/why-startups-need-to-focus-on-pricing-more-than-they-think/">how to maximize what is achieved</a>. </span></p>
<p> </p>
<h2><b>5. Easiest way to lose money is not to make any</b><span style="font-weight: 400;"> </span></h2>
<p><span style="font-weight: 400;">The other side of market uncertainty &#8211; apart from cost management &#8211; are opportunities to grow. If it was hard enough to gain and grow revenue traction in good times, a global health crisis will not make it any easier. Optimization, efficiency, and effectiveness are terms that we will be hearing more of in the coming months especially when it comes to sales and growth. It is vital that proactive steps are made not to manage loss, but to discover opportunities to continue building revenue traction. There is plenty out of your control, but how you plan and execute &#8211; and with what speed &#8211; is entirely in your court.  </span></p>
<p> </p>
<h2><b>6. Be Safe</b></h2>
<p><span style="font-weight: 400;">It goes without saying that the threat of coronavirus (COVID-19) is real.  Take all necessary precautions to keep yourself, your family, and your team safe. There is no business priority greater than the safey of you and those around you. Be prudent and pragmatic. </span></p>
<p> </p>
<h2><b>Final Thoughts </b></h2>
<p><span style="font-weight: 400;">Last year we wrote about <a href="https://helloadvisr.com/blog/know-your-value-capture-opportunities/">navigating uncertainty and capturing more value</a>. As we start to watch what unfolds in the current crisis, it is inevitable there will be company failures. Some will be due to the company’s business fundamentals, some because of just rotten luck. An investment that you expected to close stalls, drying up remaining runway. A new customer who delays purchasing because of fear of the current market environment. </span></p>
<p><span style="font-weight: 400;">There are no answers to the depth and length of what is to come, except to plan and prepare, and execute. Take constructive steps to navigate uncertainity is one way to positively influence what happens next. </span><span style="font-weight: 400;">It is up to company leaders to begin preparations to not only weather the storm, but to seize opportunities where there seems like none exist, capitalize on competitor missteps, and ultimately get the ship to the ultimate destination. </span></p>
<p><span style="font-weight: 400;">Be safe. Be smart. Be kind. We’re in it together. <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f9d1-200d-1f91d-200d-1f9d1.png" alt="🧑‍🤝‍🧑" class="wp-smiley" style="height: 1em; max-height: 1em;" /></span></p>
<p> </p>
<p><span style="font-weight: 400;">How is your company navigating the current market uncertainty? Let us know what you think. </span></p>
<p> </p>
<hr />
<h2><b>Found this article helpful?</b></h2>
<p><span style="font-weight: 400;">Sharing is caring.</span></p>
<p><span style="font-weight: 400;">Share this on social &#8211; super easy 1-click share buttons on the <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f448.png" alt="👈" class="wp-smiley" style="height: 1em; max-height: 1em;" /> left side of this page &#8211; or send this article to a colleague or friend who can learn something new to empower their company or hustle.</span></p>
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		<post-id xmlns="com-wordpress:feed-additions:1">3098</post-id>	</item>
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		<title>The Theme We Will Talk About In The New Decade (Part 1)</title>
		<link>https://helloadvisr.com/uncategorized/the-theme-we-will-talk-about-in-the-new-decade/</link>
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		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Mon, 17 Feb 2020 18:40:00 +0000</pubDate>
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]]></description>
										<content:encoded><![CDATA[
<h2><b>TL:DR</b></h2>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Growth without pathways to financial sustainability are no longer tenable (and tolerated).</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Startups need to work towards designing achievable business models that support greater financial independence.</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Greater financial independence will give entrepreneurs longer horizons and maneuverability to build stronger companies.</span></li>
</ul>
<p> </p>
<p><span style="font-weight: 400;">Earlier this year, Prince Harry and Princess Meghan announced they were “stepping back” from the royal family. One of their reasons is because they wanted to secure their own financial independence. Across the covers of pop culture publications and UK news outlets, the decision (and the subsequent happenings) shook the world. </span></p>
<p><span style="font-weight: 400;">They were not only distancing themselves from public money subsidized roles they had as royals, but wanted to create flexibility and dictate their own path forward which includes where they live, what they work on, who they are accountable for, and how they spend their time. </span></p>
<p><span style="font-weight: 400;">For the prince and princess, they wanted to decide their destiny and they knew the pathway to achieving this was securing <strong>financial independence</strong>. </span></p>
<p> </p>
<h2><b>Shifting Tides</b></h2>
<p><span style="font-weight: 400;"><a href="https://helloadvisr.com/blog/know-your-value-capture-opportunities">Increasing uncertainty and scrutiny was a theme</a> we highlighted at the start of last year, and throughout the year, we saw increasingly greater scrutiny of startups, their business models, and the rationale justifying their financial viability. </span></p>
<p><span style="font-weight: 400;">We had “untouchables” like WeWork get to the brink of an IPO only to find itself withdraw its bid to go public, get devalued, and layout staff. Less extreme events include companies such as Postmates pull back from IPO plans, and a slew of other startups who delayed potential scrutiny of their businesses.</span></p>
<p> </p>
<h3><b>Pressure from public markets</b></h3>
<p><span style="font-weight: 400;">Companies such as Casper &#8211; which was losing $342 per mattress sold &#8211; went public but at <a href="https://qz.com/1799117/public-markets-know-casper-isnt-a-tech-company/">third of their private market valuation</a></span><span style="font-weight: 400;">. </span></p>
<p><span style="font-weight: 400;">Other unicorns from Peloton and Slack, have not fared much better as public companies. Part of the reason is new pressure about their financial performance, and defensibility of their business model they otherwise did not face as private companies. </span></p>
<p><span style="font-weight: 400;">Yet the challenge to even get to this stage (IPO) these days is unicorn status ($1 billion private market valuation or more). This creates an odd paradigm. To reach the level needed to go public, requires the capital and growth of a unicorn, but the type of business needed to reach that status may not be able to sustain the scrutiny of non-private investors and stakeholders. </span></p>
<p>This creates a direct challenge to the <span style="font-weight: 400;">defensibility of the business from the value proposition to its business model.</span></p>
<p> </p>
<h3><b>Stress on business models</b></h3>
<p><span style="font-weight: 400;">The pressure is not only on companies on the brink of an IPO. The start of this new year has seen even more companies finding themselves re-evaluating themselves as a business, and starting with cost-cutting to ease some of the financial burden of their business model and go-to-market strategy. </span></p>
<p><span style="font-weight: 400;">Unicorns such as Bird</span><span style="font-weight: 400;"> began reorganizing themselves. They <a href="https://news.crunchbase.com/news/scooter-startup-unicorn-goes-bust-proving-popular-doesnt-equal-profitable/">laid off staff and pulled out of markets</a> to rationalize their business operations. Bird competitor Lime also did their <a href="https://techcrunch.com/2020/01/10/layoffs-at-lime-and-getaround-herald-rise-of-profit-hungry-unicorns/">own round of cost cutting</a> by laying off 14% of staff and pulling out of 12 markets. </span></p>
<p><span style="font-weight: 400;">But this business rationalization is not limited to scooter companies. <a href="https://techcrunch.com/2020/01/23/layoffs-reach-23andme-after-hitting-mozilla-and-the-vision-fund-portfolio/">23andMe, Playful Studio, Oyo</a> and countless more unicorns are also going down this path.</span></p>
<p><span style="font-weight: 400;">Simply put, many companies have been defending the capital they currently have because of uncertainty to access more capital in the private markets, but fundamentally their businesses are not built to make enough money to sustain itself. So these companies need to make the capital they do have go further than originally planned, and find ways for their business economics to work better for them in the short and long term. </span></p>
<p><span style="font-weight: 400;">Marketing expenses are increasingly getting unsustainable. Take Unicorn a scooter startup founded by Tile founder Nick Evans, who had to <a href="https://news.crunchbase.com/news/scooter-startup-unicorn-goes-bust-proving-popular-doesnt-equal-profitable/">close down his company due to unsustainable acquisition costs</a>. Evans states,  “</span><span style="font-weight: 400;">Unfortunately, the cost of the ads were just too expensive to build a sustainable business.” They not only closed the company, but did not have the capital to fulfill the 350 orders they did receive from customers for their scooters. </span></p>
<p><span style="font-weight: 400;">Popularity shouldn’t be confused for viability. And a core component of viability is, at minimum, a reason to believe there is pathway to financial independence and build a company that is building a business, not just a product. </span></p>
<p> </p>
<h2><b>Positioning For The Future: Financial Independence</b></h2>
<p><span style="font-weight: 400;">With ever increasing visibility and scrutiny on startups, a growing theme we will hear is the need for, and decisions-made to help companies achieve financial independence. </span></p>
<p><span style="font-weight: 400;">Does this mean financial independence means profitability? Eventually. </span></p>
<p><span style="font-weight: 400;">Financial independence is a <strong>process and mindset, as much as an outcome.</strong> Being on a pathway to achieve financial independence is a function of the systems and processes created and put in place, led by a disciplined leadership team. </span></p>
<p><span style="font-weight: 400;">There is an intentional-ness to financial independence, because it is a goal for leadership teams to work towards. Pursuing financial independence also has significant implications on how the business operates including: </span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">How the business will make money;</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Expectations on growth (trajectory and speed); and </span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Resource requirements to scale. </span></li>
</ul>
<p><span style="font-weight: 400;">Ultimately, financial independence means companies have created a business model and path where it can still materially grow and create markets, but also achieve its own profits. </span></p>
<p><span style="font-weight: 400;">Financial independence enables companies to have a wider array of strategic and tactical options today and into the future. This includes the resources available to invest in the team, new business and product opportunities, and partnerships. This also involves the capital and investment that must be raised and secured. </span></p>
<p><span style="font-weight: 400;">In the end, when a company pursues financial independence they are looking to create scalable revenue and profitability engines that decrease the need to seek outside capital, and the expectations that come from external stakeholders. </span></p>
<p><span style="font-weight: 400;">It is important to note that financial independence and seeking external capital or investment can coexist. One example where both can be achieved is 1Password, a cloud-based password management platform. </span></p>
<p><span style="font-weight: 400;">1Password pursued financial independence since the very beginning. They built a self-sustaining business that was profitable, and remained profit for more than a decade. 1Password had 1 million users, and 50,000 customers paying for their enterprise solution (Enterprise Password Manager) including 25% of the Fortune 100. </span></p>
<p><span style="font-weight: 400;">They built an impressive track record, and after 14 years since its founding, 1Password decided to take <a href="https://news.crunchbase.com/news/a-detail-from-the-200m-1password-round/">outside investment ($200M)</a>. The decision was strategic and intentional &#8211; to help pursue specific growth programs and objectives.</span></p>
<p><span style="font-weight: 400;">Financial independence is not going to be top of mind for everyone. As stated earlier, this strategy is created and led from the top. This is true for young companies and mature growth companies alike. </span></p>
<p> </p>
<h2><b>What&#8217;s Next?</b></h2>
<p>Achieving financial independence will be a core competency of startups in the new decade. Startups will be expected to demonstrate their business acumen more than they have in the last decade. For external stakeholders such as investors, startups building financial independence capabilities today will not only help increase growth efficiency, but will create a stronger portfolio of companies. </p>
<p>Where do we go from here? </p>
<p><span style="font-weight: 400;">To help companies evaluate what financial independence means for them, our next article will outline the core components to build a financial independence strategy map and how to navigate the process. </span></p>
<p>Is your company on the road to financial independence? How does your company think about financial independence? Let us know what you think! </p>
<p> </p>
<hr />
<h2>Found this article helpful?</h2>
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<p>The post <a href="https://helloadvisr.com/uncategorized/the-theme-we-will-talk-about-in-the-new-decade/">The Theme We Will Talk About In The New Decade (Part 1)</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">3094</post-id>	</item>
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		<title>Create A New Competitive Moat</title>
		<link>https://helloadvisr.com/uncategorized/create-a-new-competitive-moat/</link>
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		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Mon, 09 Dec 2019 14:00:00 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[competition]]></category>
		<category><![CDATA[Strategy]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/create-a-new-competitive-moat/</guid>

					<description><![CDATA[<p>The post <a href="https://helloadvisr.com/uncategorized/create-a-new-competitive-moat/">Create A New Competitive Moat</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p><span style="font-weight: 400;">Peter Thiel famously said, “Competition is for losers”. </span></p>
<p><span style="font-weight: 400;">He may be right, but that doesn’t mean competition does not exist. </span></p>
<p><span style="font-weight: 400;">If your business is going after a market with many new and existing competitors &#8211; and chances are you are &#8211; then you can not easily ignore competition. </span></p>
<p><span style="font-weight: 400;">At the heart of any competition strategy, is the goal to create or acquire advantages &#8211; ideally substantial &#8211; over your competitors. These are yours moats &#8211; the protective layer that keeps competitors out of your home and away from your customers. </span></p>
<p><span style="font-weight: 400;">For many companies, there are a number of ways to create a competitive advantage. We look at three common and often pursued forms of competitive advantage &#8211; technological, operational, and supplier. </span></p>
<p> </p>
<h3><strong>The Technology Moat</strong></h3>
<p><span style="font-weight: 400;">Businesses that has a </span><b>technological advantage</b><span style="font-weight: 400;">, creates technology innovation (e.g. proprietary technology, patents) that is either difficult for competitors to acquire or re-create. </span></p>
<p><span style="font-weight: 400;">It can include technology such as the recommendation engines of Netflix or Spotify, or the formula for a new drug of a pharmaceutical company. Not disconnected to the innovation, is also the product quality. This advantage requires resources (e.g. capital) to acquire, but can have a long-lasting payoff and competitor moat. </span></p>
<h3><strong>The Operations Moat</strong></h3>
<p><span style="font-weight: 400;">A second competitor advantage companies try to acquire is an </span><b>operational advantage</b><span style="font-weight: 400;">. That operational advantage is focused on decreasing the cost of producing and delivering goods or services, by increasing the effectiveness of elements in their operations. </span></p>
<p><span style="font-weight: 400;">This can include how the supply chain is managed to the manufacturing/production process used to create and distribute product. This competitor advantage has helped companies such as clothing giant Zara, retail leader Wal-Mart, and even startups such as Warby Parker and Casper well. Acquiring this advantage also requires resources (e.g. capital) as well as expertise to design and execute. Done well, this advantage can improve a company’s cost positioning, reduce waste and increase pathways to profitability. </span></p>
<h3><strong>The Branding Moat</strong></h3>
<p><span style="font-weight: 400;">A third competitor advantage some companies try to acquire is a</span><b> branding advantage</b><span style="font-weight: 400;">. This is commonly seen in consumer-facing companies, including clothing brands and retailers. The goal of the branding advantage is to extend beyond a transactional relationship with customers, but create an emotional connection and loyalty. This advantage can decrease costs of customer acquisition &#8211; for SaaS companies negative churn &#8211; increase the number and frequency of repeat purchases, increase total spend (revenue), and increase customer satisfaction and advocacy. Unlike other competitive advantages, creating a brand advantage is an earned advantage and can take more time to acquire and retain. Once achieved, brands can experience longer term benefit as seen by companies such as retailer Nordstrom, fashion brands such as AllBirds and Patagonia, and video game maker Nintendo. </span></p>
<p><span style="font-weight: 400;">But these are not the only moat-creating advantages you can build for your business. Entrepreneurs also have pricing  </span></p>
<p> </p>
<h1><strong>Make Pricing A True Competitive Advantage</strong></h1>
<p><span style="font-weight: 400;">Using price to create a competitive advantage is not a new. For many companies trying to make a dent in a new market, price is often deployed to shake up the market and put pressure on incumbent pricing. What this typically has meants lower &#8211; sometimes free &#8211; pricing. </span></p>
<p><span style="font-weight: 400;">This pricing tactic can be highly disruptive and lucrative as companies such as Ikea, Walmart, and tech companies such as Zoom and Google have used low prices as a competitive advantage against legacy brands and companies. </span></p>
<p><span style="font-weight: 400;">When looking at what made the pricing strategies of these companies successful is not just in going low, but how they defended their value even at lower prices and found pathways to new sustainable revenue channels and profitability. </span></p>
<p><span style="font-weight: 400;">This is important, because for too many companies creating market disruption using low prices is used as a blunt instrument that leave them scrambling to find ways to monetize and defend their worth in the eyes of customers. Not only can this be a costly reality to maintain, but can also result in a pivot that is hard to recover. </span></p>
<p><span style="font-weight: 400;">Pricing is multi-dimensional and can be deployed in many different ways. The key is in the rigor in planning and execution. </span></p>
<p><span style="font-weight: 400;">From the years of working with companies at all stages of growth across the world, there are five core questions to consider when deciding how best to use pricing to create a competitive moat.  </span></p>
<p> </p>
<h3><strong>#1: Do you know your monetizable value today?</strong></h3>
<p><span style="font-weight: 400;">This is obvious, but if you are using your pricing strategically, particularly through lower prices and discounts, then it is all the more important to know what the baseline willingness to pay for your product is. </span></p>
<p><span style="font-weight: 400;">Many companies go low on price without considering what their true willingness to pay is and for what customer segments. This is giving away the farm without realizing perhaps all you really own is the chicken coop. Alterantively, if we want to be more strategic and tactical, we may not have to give away 50% of our customer’s willingness to pay, if we know 30% will due. Anyone who’s had to convince a customer to buy their product will know, each dollar is hard earned so if you don’t have to, don’t leave it on the table. </span></p>
<p> </p>
<h3><strong>#2: What is our value defense?</strong></h3>
<p><span style="font-weight: 400;">Whether you’re going high or going low, it is important to know how the pricing strategy will be defended. Too many times we have seen companies where the first and last line of defense is (low) pricing. </span></p>
<p><span style="font-weight: 400;">As any sales professional will atest, you never start the discussion on price; the prospective customers will struggle to hear anything else. </span></p>
<p><span style="font-weight: 400;">So what price drivers can and must you defend? Who are the value drivers meaningful for?</span></p>
<p><span style="font-weight: 400;">Pricing is a core inter-connected component of the value proposition and buyer decision, so it is vital to identify and defend those price drivers that shape a customer’s perception of your product. </span></p>
<p><span style="font-weight: 400;">Consider a new car a customer is looking to buy. What does she consider?</span></p>
<ul>
<li><span style="font-weight: 400;">Price? </span></li>
<li><span style="font-weight: 400;">Performance? </span></li>
<li><span style="font-weight: 400;">Safetey?</span></li>
<li><span style="font-weight: 400;">Financing?</span></li>
<li><span style="font-weight: 400;">Trust in the dealership?</span></li>
<li><span style="font-weight: 400;">Brand?</span></li>
<li><span style="font-weight: 400;">Asthetics such as car color?</span></li>
<li><span style="font-weight: 400;">Features such as the sound system?</span></li>
</ul>
<p><span style="font-weight: 400;">What factors matter and the relative importance is important to understand what is defendable and what is given away. It is rarely all or nothing. </span></p>
<p><span style="font-weight: 400;">That said, value is a lot like trust. It is very difficult to gain, but extremely easy to lose. </span></p>
<p> </p>
<h3><span style="color: #333333;"><strong>#3: What are the success factors for our pricing strategy?</strong></span></h3>
<p><span style="font-weight: 400;">It is important not only to execute new pricing, but to understand what are the success factor of the strategy. This requires prepararation ahead of the pricing launch to understand what will be needed to manage successful execution. </span></p>
<p><span style="font-weight: 400;">In the case of Walmart, their “Everyday low prices” strategy is more than a marketing slogan. The pricing strategy is enabled by a company that knows world-class supply chain and operational excellence is how that strategy will be delivered and sustained. </span></p>
<p><span style="font-weight: 400;">When thinking about how you will use pricing to create a competitive advantage, consider what factors are required to make the strategy successful. </span></p>
<p> </p>
<h3><span style="color: #000000;"><strong>#4: What alternative strategies can be deployed in the future? </strong></span></h3>
<p><span style="font-weight: 400;">There are two parts to this &#8211; (1) as a result of today’s decisions, what opportunities or limitations are creaed; and (2) what other pricing models and approaches are potentially available. </span></p>
<p><span style="font-weight: 400;">Pricing will evolve as fast as your company and it’s products. So it’s important to consider given the current state, what else can you do with your pricing in the future. </span></p>
<p><span style="font-weight: 400;">This can be using more complex pricing methods such as dynamic pricing, but will also require the technical backend development and investment to successfully execute. </span></p>
<p><span style="font-weight: 400;">It can be the development of a mix of pricing models, that will capture revenue and growth opportunities across different buyer groups and use cases. Rarely is the pricing decision an at the moment decision, and will require planning and more importantly research and analysis to support the decision with your team. </span></p>
<p> </p>
<h3><strong>#5: What organizational competencies are created?</strong></h3>
<p><span style="font-weight: 400;">We often think of pricing from an output perspective (e.g. a price, revenue, profit), but pricing &#8211; when done well &#8211; is a core competency that is hard to replicate, maintain and execute well. </span></p>
<p><span style="font-weight: 400;">For all the technical and marketing prowess of companies such as Amazon and Apple, pricing remains a straetgic advantage. The advantage is not only for the price they execute and achieve, but the organizational capability to maintain discipline, and continuously maintain and evolve the pricing. It is hard, which is what sets the best companies apart. </span></p>
<p> </p>
<h1><b>Final Thoughts</b></h1>
<p><span style="font-weight: 400;">Pricing is an effective way businesses can create a competitive moat, but is too often designed and executed like a promotion rather than a strategic decision. </span></p>
<p><span style="font-weight: 400;">The tradeoff for short-term customer acquisition, are the potential longer term consequences to the business including the dilution of price/willingness to pay, increasingly expensive customer acquisition costs,  and limited future pricing options. </span></p>
<p><span style="font-weight: 400;">Thoughtful planning and design, early and often can mitigate future pricing and proposition challenges. This starts with establishing a willingness to pay baseline for targeted customer segments to craft how the competitive moat will be executed and sustained. </span></p>
<p><span style="font-weight: 400;">Like any good strategy, maintenance and defense is required. This means we need to measure and modify regularly. If immediate value is given away (e.g. lower prices), then we need to ensure core value drivers are defended and we understand what tactical pricing options are available as the market and business changes.</span></p>
<p><span style="font-weight: 400;">Like a good cajun roux, if you stop stirring and take your eye off the pot, it will burn making the roux unusable. Avoid the pitfalls to make pricing a true competitive advantage and moat that will position your business strategically for the long-term. </span></p>
<p> </p>
<hr />
<h1>Found this article helpful?</h1>
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<p> </p>
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		<title>How To Use Pricing As A Growth Strategy</title>
		<link>https://helloadvisr.com/uncategorized/use-pricing-as-a-growth-strategy/</link>
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		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 18 Apr 2018 16:23:27 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[Growth]]></category>
		<category><![CDATA[Pricing Strategy]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/use-pricing-as-a-growth-strategy/</guid>

					<description><![CDATA[<p>You&#8217;ve got a great product that your customers love, a growing reputation, and team members who are passionate about what they do &#8212; yet you&#8217;re struggling to grow. Why? Most businesses in this position would knuckle down and work harder, confident that a breakthrough is just around the corner. And it might be. But what [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/uncategorized/use-pricing-as-a-growth-strategy/">How To Use Pricing As A Growth Strategy</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>You&#8217;ve got a great product that your customers love, a growing reputation, and team members who are passionate about what they do &#8212; yet you&#8217;re struggling to grow. Why?</p>
<p>Most businesses in this position would knuckle down and work harder, confident that a breakthrough is just around the corner. And it might be. But what many of these businesses don&#8217;t realize is that that breakthrough could be made today (and with potentially a lot less effort).</p>
<p>So, what&#8217;s the secret?</p>
<p>It&#8217;s your pricing strategy.</p>
<p>Most businesses start by setting a price that they think is about right and then leaving it to see what happens. Normally, customers are happy to buy (because it&#8217;s a good product), and so the business assumes that the price is right. Once they&#8217;ve found something that &#8220;works,&#8221; businesses tend to stick with that price, only altering it as manufacturing costs go up.</p>
<p>This set-it-and-forget-it mentality leaves value on the table and <a href="http://www.helloadvisr.com/blog/avoid-growth-going-flat/">restricts growth</a>. Most businesses guilty of this strategy are setting their prices too low; they receive enough to continue running but not enough to grow.</p>
<p><img data-recalc-dims="1" fetchpriority="high" decoding="async" class="aligncenter wp-image-2155" src="https://i0.wp.com/helloadvisr.com/wp-content/uploads/2022/11/Marc-Andreessen_Pricing-Quote2.png?resize=640%2C313&#038;ssl=1" alt="Marc Andreesen Pricing Quote" width="640" height="313" /></p>
<p><a href="http://www.helloadvisr.com/blog/right-time-for-pricing/">The time to focus on your pricing is now</a>: let&#8217;s get started.</p>
<p>&nbsp;</p>
<h2>Pricing As A Growth Strategy</h2>
<p>Designing and executing a pricing driven growth strategy requires an &#8220;inside-out&#8221; approach. By starting with your company and your growth objectives, you can set out a sustainable strategy that delivers value to your customers without compromising your growth.</p>
<h4>Step 1: Establish Your Goals</h4>
<p>It appears obvious, but the first step is to look at your growth goals for your company. Where do you want your business to be in one year&#8217;s time? How about in five years?</p>
<p>Many companies forget what it means to build goals &#8211; stretch and attainable &#8211; that reflect the ambition and new reality for your company and market. Your pricing is a vital part of this growth story because it starts to identify the levers available, how hard you want to push these levers, and the impact these decisions will have in your company&#8217;s future state (e.g. can you become profitable?).</p>
<h4>Step 2: What Do Your Customers Value?</h4>
<p>Your customers purchase your products or services because they provide value. Perhaps your service saves them time or provides them with access to something they can&#8217;t get anywhere else. Whatever it is, you need to <a href="http://www.helloadvisr.com/blog/know-your-customers/">figure it out</a> &#8212; because it&#8217;s this value (and its relationship to price) that decides whether they make a purchase decision or not.</p>
<p>Not sure why customers value your product? Ask them!</p>
<h4>Step 3: Determining Worth</h4>
<p>To price correctly, you need to put a number on the value you provide your customers. This value might change depending on which customers you look at &#8212; and this might have important implications for your sales and marketing strategy.</p>
<p>For example, say you provide an online service that saves users an average of four hours per month on a boring and monotonous task. How much is that worth? Executives might value that time at $250 per hour. Students, on the other hand, might value their time at a fraction of that. Understanding what customer value and what drives that value is critical to determining worth &#8212; while not giving up on potential monetary opportunities.</p>
<h4>Step 4: Evaluate Your Market</h4>
<p>The value your competitors offer (and the prices they offer it at) may shed light on which pricing strategy will work best for you. Some industries are very &#8220;flat&#8221; with little difference in pricing between firms, while in others there is a huge difference (like the motor industry).</p>
<p>Your task is to consider how your value measures up against your competitors and decide what that means for how much your customers are willing to pay.</p>
<h4>Step 5: Align Pricing and Goals</h4>
<p>Your aim is to hit the sweet spot &#8212; a price that reflects the value your customers receive and that they&#8217;re willing to pay, and that allows your company to hit its growth goals.</p>
<p>Sometimes this isn&#8217;t possible, in which case you either need to revise your growth goals, improve the value you provide (and potentially increase the amount customers are willing to pay) or both. What is important is not to put pricing or growth into silos, but see where pricing can enhance goal achievement.</p>
<h4>Step 6: Test Your Price Design</h4>
<p>Remember when we mentioned the &#8220;set-it-and-forget-it&#8221; mentality? You&#8217;re not going to make that mistake again.</p>
<p>Test your pricing strategy by running trials or conduct pricing research. This can be easily achieved online by driving traffic to a sales page and then splitting the traffic so that viewers receive the same sales message but different prices. Often, the most profitable price will result from fewer sales at a higher value &#8212; but you won&#8217;t know unless you test.</p>
<h4>Step 7: Launch, Measure, Refine, Repeat</h4>
<p>Once you&#8217;ve completed testing, launch your pricing strategy and measure its progress. Conduct regular reviews of your pricing strategy, taking into account customer opinion, sales progress and your growth goals. This is not the responsibility of a single team member, but a core leadership topic &#8212; pricing is a reflection of the value created for customers. In addition to refining your price design, you will enable your sales and marketing teams to better design ways to defend the pricing with stronger communication, messaging and processes.</p>
<p>&nbsp;</p>
<h2>Final Thoughts</h2>
<p>Used correctly, your pricing strategy is an incredible tool for supporting and enabling the growth of your company &#8212; but you have to have a plan. By being clear about your goals and values, evaluating your market, and implementing thorough trials and testing, you can find the ideal price, keep your customers happy and grow your business.</p>
<p>&nbsp;</p>
<hr />
<p><strong>Interested in learning more?</strong><br />
If you or your team is interested in having a hosted session on your pricing strategy and monetization model, please contact us at:<a href="mailto:contact@helloadvisr.com">contact@helloadvisr.com </a></p>
<p>Get our latest updates and insights by <a href="http://eepurl.com/cGrDxz" data-href="http://eepurl.com/cGrDxz">subscribing to our newsletter</a> and following us on <a href="https://www.facebook.com/HelloAdvisr/">Facebook</a>, <a href="http://www.twitter.com/helloadvisr" data-href="http://www.twitter.com/ed_lee810">Twitter</a> and <a href="https://www.linkedin.com/company-beta/17957788/">LinkedIn</a>.</p>
<p>The post <a href="https://helloadvisr.com/uncategorized/use-pricing-as-a-growth-strategy/">How To Use Pricing As A Growth Strategy</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">3016</post-id>	</item>
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		<title>Our Latest Guest Article on Gust Launch Community Blog</title>
		<link>https://helloadvisr.com/uncategorized/guest-article-gust-launch/</link>
					<comments>https://helloadvisr.com/uncategorized/guest-article-gust-launch/#respond</comments>
		
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 03 Jan 2018 15:00:18 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[Gust Launch]]></category>
		<category><![CDATA[Pricing]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/guest-article-gust-launch/</guid>

					<description><![CDATA[<p>HelloAdvisr, a Los Angeles based growth consultancy, and pricing and monetization specialist, was excited to be asked to share our pricing expertise with the Gust community of founders, entrepreneurs and angel investors. Our guest article introduced five key concepts founders and entrepreneurs need to know to start building a high-impact pricing strategy. To read the full [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/uncategorized/guest-article-gust-launch/">Our Latest Guest Article on Gust Launch Community Blog</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>HelloAdvisr, a Los Angeles based growth consultancy, and pricing and monetization specialist, was excited to be asked to share our pricing expertise with the Gust community of founders, entrepreneurs and angel investors. Our guest article introduced five key concepts founders and entrepreneurs need to know to start building a high-impact pricing strategy.</p>
<p>To read the full article on the Gust Launch Community Blog, click <a href="https://gust.com/launch/blog/startup-pricing-strategy-concepts"><strong><span style="text-decoration: underline;">here</span>.</strong></a></p>
<p>To read more growth insights from HelloAdvisr, visit <a href="http://www.helloadvisr.com/blog">www.helloadvisr.com/blog</a> or click <strong><a href="http://www.helloadvisr.com/blog">here</a></strong>.</p>
<h2><strong>About Gust Launch: </strong></h2>
<p><img data-recalc-dims="1" decoding="async" class="wp-image-2045 alignright" src="https://i0.wp.com/helloadvisr.com/wp-content/uploads/2022/11/Gust-Launch_logo.png?resize=206%2C109&#038;ssl=1" alt="" width="206" height="109" />Gust Launch is a cloud-based platform to help entrepreneurs and founders easily incorporate, run, and grow their company like a seasoned entrepreneur—designed by experienced startup founders, investors, and lawyers to help you from launch to exit.</p>
<p>To learn more about Gust Launch visit <a href="http://www.gust.com/launch">www.gust.com/launch</a></p>
<p>The post <a href="https://helloadvisr.com/uncategorized/guest-article-gust-launch/">Our Latest Guest Article on Gust Launch Community Blog</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">3001</post-id>	</item>
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		<title>HelloAdvisr Share Pricing Insights in Guest Article for TechDay</title>
		<link>https://helloadvisr.com/uncategorized/helloadvisr-share-pricing-insights-guest-article-techday/</link>
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		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Mon, 18 Dec 2017 23:03:00 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[business strategy]]></category>
		<category><![CDATA[leadership]]></category>
		<category><![CDATA[Pricing]]></category>
		<category><![CDATA[TechDay]]></category>
		<guid isPermaLink="false">https://helloadvisr.com/helloadvisr-share-pricing-insights-guest-article-techday/</guid>

					<description><![CDATA[<p>HelloAdvisr, a Los Angeles based growth consultancy, and pricing and monetization specialist, was excited to guest write an article TechDay&#8217;s community of more than 10,000 startup and entrepreneurial members globally. The article shared three core insights on why the best companies in the world prioritize pricing and how this impacts growth for startups and entrepreneurs. To [&#8230;]</p>
<p>The post <a href="https://helloadvisr.com/uncategorized/helloadvisr-share-pricing-insights-guest-article-techday/">HelloAdvisr Share Pricing Insights in Guest Article for TechDay</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>HelloAdvisr, a Los Angeles based growth consultancy, and pricing and monetization specialist, was excited to guest write an article TechDay&#8217;s community of more than 10,000 startup and entrepreneurial members globally. The article shared three core insights on why the best companies in the world prioritize pricing and how this impacts growth for startups and entrepreneurs.</p>
<p>To read the full article on the TechDay HQ Community Blog, click <a href="https://techdayhq.com/community/articles/3-reasons-why-the-best-companies-prioritize-pricing"><span style="text-decoration: underline;"><strong>here</strong></span>.</a></p>
<p>&nbsp;</p>
<h2><strong>About TechDay: <img data-recalc-dims="1" decoding="async" class="wp-image-2051 alignright" src="https://i0.wp.com/helloadvisr.com/wp-content/uploads/2022/11/TechDay-Logo_1.jpg?resize=160%2C160&#038;ssl=1" alt="TechDay HQ Logo_Main" width="160" height="160" /></strong></h2>
<p>Each year TechDay hosts more than 50,000 people from 6 continents at events to connect and build the startup community. In 2017, TechDay hosted startup events in New York, Los Angeles and London (UK).</p>
<p>To learn more about TechDay visit <a href="http://www.techdayhq.com">www.techdayhq.com</a></p>
<p>&nbsp;</p>
<p>The post <a href="https://helloadvisr.com/uncategorized/helloadvisr-share-pricing-insights-guest-article-techday/">HelloAdvisr Share Pricing Insights in Guest Article for TechDay</a> appeared first on <a href="https://helloadvisr.com">HelloAdvisr</a>.</p>
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