Episode 646 | Building a Recurring, Annual Price Increase Into Your SaaS
Hosted by
Rob Walling
In episode 646, Rob Walling catches up with James Kennedy, the founder of ProcurementExpress, about James’s unconventional approach to price increases. Every year, James does an annual price increase across the board. He talks about how he communicates it to both leads and customers, the pros and cons of this approach, and why it is been a net positive for the business.
Topics we cover:
- 2:03 - About ProcurementExpress
- 4:41 - How big is the ProcurementExpress team?
- 7:43 - Why did James change the company name?
- 9:48 - What led James to settle on an 8% annual price increase for all customers
- 15:02 - Communicating the annual price increase to new customers
- 17:01- How James uses these annual price increases to close more deals
- 17:36 - When you shouldn’t do annual price increases
- 23:04 - SaaS buying patterns that James sees
- 24:00 - The best subject line that James has ever written
Links from the Show:
- James Kennedy (@JamesKennedy)I Twitter
- ProcurementExpress
- TinySeed
- Designing the Ideal Bootstrapped Business with Jason Cohen
- How to Stop Giving Demos & Build a Sales Factory Instead – James Kennedy – MicroConf Growth 2017
- How We Reduced Churn by 25% and How You Could Do It Too – James Kennedy – MicroConf Europe 2019
If you have questions about starting or scaling a software business that you’d like for us to cover, please submit your question for an upcoming episode. We’d love to hear from you.
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