Professional association sets price point for study materials

A professional association wanted to price its license study materials for maximum uptake and profitability

The Challenge

Effective pricing for study materials

The professional association wanted to know the most effective way to bundle and price its newly digitalized license study materials. With a long legacy in a different format, and varied competition with different offerings, there was no benchmark for how to set the price, or how best to take it to market. It needed a B2B market research agency experienced in custom pricing research.

Our Approach

Multi-method pricing study

Werk Insight, a B2B market research company, designed a multi-method pricing study.

First, we conducted internal workshops with our client’s subject-matter experts. We also analyzed historical sales data and audited competitor offerings and websites. This helped to inform the discussion guide for the B2B qualitative research.

We conducted qualitative video interviews with the relevant target audience, as well as users of competitors’ study materials. This fed into a price-value model, used to understand the price-premium associated with different formats; and a recommendation about the best viable way to optimize uptake and premium.

The Insight

Pricing strategy that maximized uptake and profit

We recommended a new bundling of options at a higher price point that were in line with customers’ Willingness to Pay. The pricing left room for discounts and affiliation marketing to maximize the uptake.

Our insights included recommendations on the go-to-market strategy and which prospects to target for maximum adoption. The new study material bundle was successfully released to the market.