Increase Your Pricing Power: Monetize SaaS with Ayon Bhattacharyya

Ayon Bhattacharyya is the Founder of Biz Growth Spurt, a consulting firm based out of New Zealand. He has experienced pricing in half a dozen companies, and he's a passionate animal welfare advocate.

In this episode, Ayon talks about the ins and outs of monetization. He also tells us a bit about his company, Biz Growth Spurt, and why you might be in need of their services.

Why you have to check out today's podcast:

• Learn about the three pillars of monetization and why you can't only focus on one of them
• Know the difference between price metric and value metric and why it matters in getting more sales
• Understand why articulating value is essential in keeping and growing your customers

"Understand your customers intimately and take the time to quantify your buyer personas so that you understand the use case of the value proposition, the willingness to pay the lifetime value, and the customer acquisition costs; so that you can better position and package to them and ultimately capture a fair portion of the value delivered to them."

– Ayon Bhattacharyya

Topics Covered:

01:33 – How Ayon got into pricing

03:15 – How Ayon defines "monetization"

04:24 – What packaging means to Ayon, in relation to monetization

05:26 – What Ayon means by "feature differentiation"

06:30 – Why Ayon hates freemium

08:04 – Free trials vs. Freemium: why it is important which of the two fits your business more

11:07 – How to decide which features go to which packages

14:02 – Price metric vs Value metric

19:59 – Why positioning is an essential part of monetization

23:22 – Ayon's key to monetization: the combination of packaging, pricing, and positioning

25:25 – Biz Growth Spurt: What they do and who their ideal customers are

28:50 – The meaning of "monetization" according to Ayon vs the meaning of "monetization" according to ProfitWell

31:54 – Ayon's pricing advice

32:49 – Connect with Ayon Bhattacharyya

Key Takeaways:

"Once you have a deep understanding of your buyer personas, how they value your product, how they use your product, how your proposition aligns with their growth journey, then you can actually start putting your features into bundles. But you want to do that based on the level of importance of those features." – Ayon Bhattacharyya

"How you present the packages and the value messaging that you put on your website is so important. If they [the customers] understand that they're getting five times more value from the gold versus the silver, in their mind, it helps them to quantify that relative benefit of the upgrade and the potential ROI of an upgrade." – Ayon Bhattacharyya

"If the perceived value isn't there, if you aren't communicating it, if you don't have a strong brand presence, if your solution is so complex that customers don't understand the value that they get from it, then you know, you've just wasted all of this money on product development and marketing. – Ayon Bhattacharyya

"Ideally, you want the messaging that you have on your packages is around the problem that you're solving for the customer. That's the key. It's not about the features. Those are just more internal to you. And often the customers don't get them." – Ayon Bhattacharyya

People / Resources Mentioned:

• Biz Growth Spurt: https://bizgrowthspurt.com/
• Selling Value: How to Win More Deals at Higher Prices: https://www.amazon.com/Selling-Value-Deals-Higher-Prices/dp/1737655217

Connect with Ayon Bhattacharyya:

• LinkedIn: https://www.linkedin.com/in/valueconquer/
• Email: ayon.b@bizgrowthspurt.com

Connect with Mark Stiving:

• LinkedIn: https://www.linkedin.com/in/stiving/
• Email: mailto:mark@impactpricing.com