This event will provide an introduction to and discussion around pricing strategies for startups.
This topic is ideal for those seeking to improve their understanding of pricing strategy. There will be approximately 30 mins of content and 30 mins of discussions Q&A. According to Madhavan Ramanujam (Monetizing Innovation: How Smart Companies Design the Product Around the Price), there are only three pricing for startups:
1) Maximization 2) Penetration 3) Skimming
Maximization (Revenue Growth) – maximize revenue growth in the short term. Startups should pursue maximization when there are no clear differences in customer segments’ willingness to pay, and when the optimal short term and long term prices are equal. Many mid-market software companies price with the goal of revenue maximization, negotiating for the highest possible price in each sale.
Penetration (Market Share) – price the product at a low price to win dominant market share. A bottoms-up strategy lends itself to penetration pricing. Price low to minimize adoption friction, grow quickly, and then move up-market after developing broad adoption. Penetration pricing leads to land-and-expand sales tactics. Expensify, Netsuite, New Relic, Slack follow this model. Penetration prioritizes market share.
Skimming (Profit Maximization) – start with a high price and systematically broaden the product offering to address more of the customer base at lower prices. Skimming is widespread in consumer hardware. Apple sells the latest iPhones at the highest prices, and repackages older models at lower prices to address different customer segments. As Madhavan tells it, Steve Jobs was both a product genius and pricing genius. By pairing the two skills, he led Apple to record-breaking profits quarter after quarter.
Important to know Event slides are available on the Resources page.
On 20 February Australian Computer Society (ACS) successfully hosted their second QLD Young IT Career Boot Camp with over 100 participants from Queensland as well as inter-state.
The boot camp is aimed at keeping yourself relevant and employable. Focus on listening skills and keeping skills up to date.
The event is targeted towards, but not limited to, students currently completing their studies, this special event will allowed participants to keep abreast with their professional development through the facilitation of three separate sessions, highlighting ways in which you can stand out and succeed as a skilled professional.
Joeri (Yuri) Timmermans from BIGJUMP and Maria Bowering were invited to present and provide a workshop about listening.
Today, platforms like Amazon, Airbnb and Uber are dominating those earlier, linear business models. Two new books by prominent economists, Matchmakers and The Platform Revolution, ably explain the dynamics of how platforms like these function as multi-sided markets.
In Part 2 of Platform Strategies for Startups we will cover:
• The 3 elements to design a successful platform • “Monetization” for Platforms • The 8 strategy options to successfully launch a platform • The future opportunities for the Platform Revolution
The majority of the content for this presentation is based on the following book:
This event is for startup founders seeking to better navigate B2B sales.
We will cover: • Common mistakes startups make in sales • Effective ways to think (and explain) when selling • B2B Sales Process • Building prospects • Your message • Cold Calling • First Meeting
The presenter is Paul Davies, mentor at River City Labs. He has 18 years of B2B sales experience with over $30M of personal selling. Paul has worked in organisations with zero marketing/branding to sign up big-brand customers.
Aside from being billion dollar companies, what do the following organisations all have in common? – Uber – Airbnb – Amazon – Apple – PayPal
These companies were built on platforms: two-sided markets that are revolutionizing the way we do business. As digital networks increase in ubiquity, businesses that do a better job of harnessing the power of the platform will win. An indispensable guide, Platform Revolution charts out the brilliant future of platforms and reveals how they will irrevocably alter the lives and careers of millions. This presentation will cover the highlights of the book, “Platform Revolution“, from a SAAS or Startup perspective.
Important to know If you have not visited the new RCL location, please give yourself 30 mins extra time!