Most companies spend less than 10 hours per year on the biggest growth lever available to them, pricing. The focus that is given to it is usually by Finance, which is a mistake. Finance managers typically don’t understand the customer because it’s not their job. That lack of customer insight creates a gap in understanding the impacts that pricing changes will have on customer behavior and growth. That’s your job as a product marketer and is a key reason why product marketing should own pricing and constantly make adjustments to drive growth. But how? By combining the customer feedback channels you already have with internal relationships you’ve already built and a few best practices that I’ve detailed on these pricing pages.
You may have seen some of this information in a presentation called “Why You Should Own Pricing Even If You know Nothing About Pricing” at Product Marketing Festival. This guide is intended to be a more detailed hub to enable you to take on pricing responsibility at your company with all of the resources you need in one place. Without further ado, let’s demystify pricing and give you a playbook to do the job.