How do you approach competitive intel for pricing?

Competitive Pricing Intelligence is tricky because that information is often confidential so you cannot just go ask a customer or a partner for it. However, it's natural to come across it and there are some ways I've found to go find it. Talk to your sellers. Customers (existing and prospective) will often share pricing of alternatives in regular conversation as they negotiate a deal -- you may not always get specifics, but if you get enough ballpark estimates you can get a pretty good sense of ...Read More

You’ll likely have a shortlist of the competitors you go head to head against. They should always be on your checklist and the folks you look at most closely. We always use them to checkpoint the packaging of new features, study why and how they make the pricing decisions they do, and go as far as to do frequent teardowns of their pricing page and pricing model There are likely companies who you don’t compete with yet but want to. These are more established companies who you’re hoping to be comp ...Read More

As mentioned before, competitive intel is important to at least understand when thinking about pricing and packaging. You certainly shouldn't price a particular way just because your competitors do but you should always at least understand what the competitive landscape looks like. Here are some resources I've found useful: Competitor websites (hopefully you'll be lucky and they'll publish their pricing!). Know that whatever you find here is likely to be higher than actual selling price as it is ...Read More

Competitive intel for pricing will vary based on the type of industry you're in, as well as the go-to-market motion.  If you're competing in sales-led go-to-market motion and Enterprise market, it will be significantly more difficult to gather intel on pricing as it won't be easily located on your competitor's website. A great place to start would be to listen in on your demo and sales calls. What are prospects telling you about your competitors? When you share your pricing with them, how do the ...Read More

Below are few important exercises to consider when first standing up a competitive intelligence program for pricing: Identify Key Competitors: Start by identifying your main competitors in the market. Understand their positioning, target markets, and the products or services they offer that compete directly with yours. Pricing Models: Analyze your competitors' pricing models. Determine whether they use flat-rate pricing, usage-based pricing, tiered pricing, or other pricing structures. Understan ...Read More