A step by step guide to develop a monetization strategy, optimize prices, and maximize your business profits
What you will learn
Learn a step by step methodology for designing a monetization strategy, choosing a price model, setting prices, and running promotions
Understand how techniques like Segmentation, Price Discrimination and Conjoint Surveys can be used to increase profits
Learn the simple components of a Price Model and how leading companies choose unique price models to stand out
See how to quantify the value of a product by considering the relative value versus substitutes and alternatives
Understand how to use A/B testing and price elasticity to optimize prices for maximum profits
Learn about psychological price points that can improve demand
Learn best practices for using Promotions and Custom Deals to accelerate growth and win major accounts
Description
How do you make the most money from your business strategy and product portfolio? How do leading companies select their price models, set their prices, and run promotions to maximize their business value?
In this course, I take the guesswork out of your monetization and pricing strategy by giving you a detailed step by step methodology that you can revisit again and again to make sure your approach to monetization and pricing is comprehensive, thoughtful, and optimal. In just over an hour, I’ll guide you through a straightforward approach that you can immediately apply to 1) design your monetization strategy; 2) identify a price model; 3) value your product; 5) set standard prices; 5) test and analyze; 6) promote and optimize.
Upon completion, you will understand how to use Business Principles, Segmentation, Price Discrimination, Price Models, Packaging Options, Research Techniques, Price Elasticity, Loss Leaders, Psychological price points, promotions, and Custom Deals to increase business value.
To support both beginners and advanced learners, this course introduces the terms and techniques simply and in plain English but moves quickly and efficiently to cover the entire flow from monetization strategy to price optimization. Along the way we’ll discuss best-in-class companies, show analytics in action, and reinforce the lessons with quizzes.
Content