Patrick Campbell is the Co-Founder and CEO of ProfitWell, a company focused on helping subscription-based businesses reduce churn and build loyalty with their customers. In this episode Patrick shares his tips for finding the right price for your product, and the secret behind fixing pricing problems without damaging your customer relationship.
Resources mentioned:
- Google Scholar (website)
- The Comprehensive Guide to Reducing Churn (eBook)
- Michael Momsen (LinkedIn)
- Adam Jaffrey (LinkedIn)
Key takeaways (starts at 37:18):
- Pricing is about an exchange of value with your customers.
- Customers build expectations based on price, packaging, and product delivery.
- There’s a simple process for setting your price, so make sure you use it.
- Watch for signals that indicate a pricing problem.
- Look for the reasons why customers leave so you can reduce churn.
This show is produced in collaboration with Wavelength Creative. Visit wavelengthcreative.com for more information.
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