Tamara Grominsky

Pricing and packaging is such an exciting area of product marketing, I'm thrilled to hear you're going to dig into it! Here are some of my favourite resources: * Price Intelligently/Profitwell blog - https://www.profitwell.com/recur/all/tag/pricing * Handbook on the Psychology of Pricing by Markus Husemann-Kopetzky * Confessions of the Pricing Man by Hermann Simon * Monetizing Innovation by Madhavan Ramanujam I'd also be remiss if I didn't point you in the direction of my own course on pricing with the Product Marketing Alliance! You can learn more here -> https://certified.prod...

Deeply understand your target customer and their buying preferences. How do they want to purchase from you? Will knowing the price up front help in the buying process? Are you losing out on prospects because you aren't transparent about the price? Start with customer research and let the customer guide you to a solution.

Whenever we launch a new product or feature, I make sure we're aligned on the core business metric we want to drive. Is this a churn reducer? A top of funnel acquisition play? An expansion or ARPU play? This should help to guide how you frame the opportunity.  If you're torn between a few potential paths forward, I always suggest a quick back of envelope calculation to help size the opportunities. In this case - if you were to offer it to all customers for free, how much could you improve the activation rate (or time to value rate)? By doing so, how many more customers would you conve...

There are several different triggers that could spark this converstion - the launch of a new product/feature that is monetizable, competitive movement in the market, the decision to pursue a new adjacent market, an acquisition of a company, major changes in a key business metric, etc. In any way, if you see an opportunity to re-investigate your current pricing and packaging, I'd suggest that you anchor it in one of these changes - this is a great way to frame the opportunity and help other stakeholders get on board.  Since pricing touches almost all parts of a business, I usually reco...

There is no one correct answer to this, unfortunately. There isn't a perfect number of pricing tiers that will unlock growth, but some research has been done that you can use as a starting point. Many people reference the power of three, and the popular good, better, best pricing strategy. This school of thought proposes that having any more than three options overwhelms the buyer and introduces increased cognitive load.  While Good, Better, Best is a common package structure, it’s not the only one. Some argue that having more than three package options could lead to higher revenue. A...

This will vary business by business based on your market position, your target customer profile, your go-to-market motion, and more. But in general, I usually highlight a few areas of concern for folks to be aware of before they jump into a pricing project: 1. Don't do everything alone. Pricing touches almost all parts of the business, and it's important to form a cross-functional stakeholder group to help guide the pricing overhaul. You still need one person to hold accountability, but it's best when you share responsibility. Otherwise you may end up both overwheleme...

Taking the time to build out a structured plan is an amazing first step to ensure your project is successful - so happy to hear you're thinking about this from the beginning. I like to think about pricing projects in 5 phases: Goal Setting, Research, Strategy Development, Testing, Go-to-Market. First, you want to ensure you start the project by setting a clear objective and aligning on the measures of success with all stakeholders. Once you’ve finalized the goal and KPIs, you’re ready to begin drafting your qualitative and quantitative research plan. Your research plan should outli...

This is going to depend entirely on the growth stage of your business and the health of your customer base. If you're a startup, you'll need to focus on getting new customers in the door. But, if those prospects or trialers aren't converting into paying customers, or are churning out rapidly in the first few months, then there's no point in adding more into a leaky bucket. You'll need to patch up the bucket first. In reality, balancing customer lifecycle initiatives will be an evolving and fluid activity. In order to maintain the right balance, you'll need insight into your lifecyle m...

It's a great time to get into Product Marketing - demand is high, and supply is low.  In my experience, great PMMs and PMs come from a wide variety of backgrounds, so there is no "one perfect path". They key is to take your existing skills and knowledge and position it in a way that matches the demands of a PMM role (positioning is a key component to PMM, so this will be a good exercise for you to go through!). Also, Product Marketing really is a large umbrella term. Product marketing looks different everywhere, and the role takes different shapes company to company. I would recommend...

Product Marketing and Customer Marketing go together like peanut butter and jelly! I just love to see the two teams working side by side, regardless of who they report into.  Product Marketing should be the expert on the "target market" - by this I mean the core markets, customer segments and personas the company is focused on. In order to be effective at this, PMM will need to spend time looking inwards (at existing customers and users) and outwards (at prospects, competitors and new markets).  I view Customer Marketing as the deep dive into that inward focus component. A strategic C...