Monetising Subscriptions with Pricing and Packaging
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How can you monetise subscriber relationships? Learn how to align market demands, organisational goals, and customer experience requirements to drive your pricing and packaging strategy. Lane Russell, Senior CSM APAC, Zuora, Hannah Zambrano, Senior Partner, Mindvalley & Andrew Porter, Director Customer & Subscriptions, Fairfax Media
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Monetising Subscriptions with Pricing and Packaging
- 2. Lane Russell Senior CSM APAC, Zuora
- 3. Hannah Zambrano Senior Partner, Mindvalley Andrew Porter Director Customer & Subscriptions, Fairfax Media
- 4. CONTENT REVIEW 1. Monetise Relationships 2. Market Demands 3. Align to Organisation Goals 4. Pricing and Packaging Drivers
- 5. HOW DID YOU GET HERE?
- 6. How do you leverage your current customers? MONETISING RELATIONSHIP S
- 7. International expansion impacts multiple teams product What the market demands distribution Deliver it in a way that’s convenient service Ensure they have easy access to it
- 8. How does the marketplace drive your strategy? MARKET DEMANDS
- 9. Market Demands What are the Pressure Points? differentiatio n Have a point of difference market needs It’s on target to meet the need right mix Product gives the right mix of features
- 10. How does the business ensure that it is aligned? ORGANISATION ALIGNMENT
- 11. Organisational Alignment Meet all the needs internally impacts Understand the changes internally market needs It’s on target to meet the need
- 12. QUESTIONS?
Notes de l'éditeur
- Monetising subscription services is all about learning how to align market demands, organisational goals, and customer experience requirements to drive your pricing and packaging strategy. To help me with this conversation today, I’ve invited two distinguished people to join me on stage.
- Lane enters from downstage, energetic.
- First is Hannah Zambrano, Senior Partner from Mindvalley, a leading provider of e-learning services focused on the area of personal growth. And joining her is Andrew Porter, Director currently responsible for leading the Fairfax Subscriptions business which includes household names such as The Sydney Morning Herald, The Age and The Australian Financial Review. Hannah and Andrew enter from downstage, energetic.
- Four areas of focus for today Monetising relationships – both new and existing Align strategy and pricing to market demands Bringing the organisation in alignment behind the strategy Understand the pricing drivers for the marketplace and the business
- Where have you come from? For Mindvalley – New to subscriptions How did you get to a subscription model? What was the catalyst? For Fairfax – Old school / traditional subscription business What’s changed in your subscription model? How do you keep relevant?
- Leveraging customer relationships you may already have? Is this an area of focus or just part of the overall mix of revenue growth? Mindvalley – Pivoting from one time purchases to a more recurring model How have customers reacted to this? What are the early success factors / indicators? Fairfax – Well established customer base How do you leverage the engaged audience to monetise them further? Turning visits into recurring relationships - is this a focus?
- When it comes to product, how do determine the what’s right? Mindvalley – large amount of content How do you ensure it’s what the market needs? Is it trial and error or do you have the formula already? Fairfax – Monetising content is critical How to do you encourage readers / visitors to pay? What are the levers for moving a customer from free to a paid relationship?
- How to you cope with market pressures? Are there competitive factors in play Fairfax – Highly competitive marketplace How do you differentiate for subscribers? Is there a good example of innovation that has been successful? Mindvalley – Again many competitive factors How do you differentiate in the marketplace? Do your customers react to this or are you constantly iterating your offers?
- How do you differentiate to your competitors? Does the marketplace drive differentiation? Fairfax – How do you remain different? Is it about the reputation of the Fairfax brands / editorial driven Or does pricing and packaging become important – it is price sensitive? Mindvalley – Do you align to your customers needs? Do you ensure that you are constantly changing content offers? In your case, do you have like for like content for members or do you move them through a journey?
- Running subscription business can have differences Mindvalley – Pivoting from one time purchases to a more recurring model How has the Mindvalley business needed to change? Is finance keeping up? Do you service customers differently – is it a different type of relationship? Fairfax – Does recurring revenue or subscriptions drive the business differently Has the focus of the business needed to change. Has there been an influence?
- Has there been any impacts on your business How have they needed to react Fairfax – Is there a new focus on subscription revenue? Does the predictability of recurring revenue help? Has how you support / service customers changed? Mindvalley – New types of customer relationships? How has customer service changed? You measure your revenue differently now (MRR)?
- Thank you both—now let’s open it up to some questions from the audience.