This week, the Bowery Capital team hosted Patrick Campbell, CEO and Founder of ProfitWell (formerly Price Intelligently), to discuss “Building Your First Pricing Model.” Price Intelligently helps growing SaaS companies to optimize their pricing, and ultimately unlock 30%+ growth as a result of doing so. Price Intelligently is operated under ProfitWell, which helps you keep all of your subscription and financial metrics in one place. Patrick and his team have helped some of the most successful SaaS companies in the world to optimize their pricing. Their customers include Atlassian, Hubspot, New Relic, Pipedrive, and more. As an industry-leading expert on pricing, Patrick shares expert advice with us, which growing SaaS companies can use instantly to generate more revenue!
Patrick Campbell is the CEO of ProfitWell (formerly Price Intelligently), the software for helping subscription companies with their monetization and retention strategies. ProfitWell also provides free turnkey subscription financial metrics for over eight thousand companies. Prior to ProfitWell, Patrick lead Strategic Initiatives for Boston based Gemvara and was an Economist at Google and the US Intelligence community.
In today’s episode, Patrick and I discuss everything from the “pricing” models of our own personal early childhood businesses of trading animal crackers and building tree forts, to how today’s best SaaS companies can utilize value-metric-based pricing to grow their businesses 50% more than they otherwise would. What a journey! Patrick explains that “your price is the exchange rate on the value you’re providing,” and therefore it’s important to think critically about what your points of value are, and how you package that in a simplistic, but meaningful way for your customers. We also discuss examples of best-in-class companies and their pricing to examine the tactical things that they’ve done well to scale their pricing many years into their respective businesses.
If you liked “Building Your First Pricing Model” and want to read more content from the Bowery Capital Team, check out other relevant posts from the Bowery Capital Blog. If you haven’t already, subscribe to the podcast to get all our new content each week!