To gain a better understanding of the competitive landscape and to reassess their pricing model, Feuer reached out to OpenView Market Insights Manager Brandon Hickie. The team set out to conduct market research that would ultimately provide Signpost with recommendations on how to simplify its pricing structure while capturing more value.
Signpost asked for OpenView’s help answering three key questions:
- How do Signpost’s competitors price and structure contracts for their products?
- How do competitors demonstrate value and position their products?
- How is this similar and different from the way Signpost prices and positions its products today?
To get started, OpenView conducted primary and secondary research to learn about the pricing and discounting models of six competitors. They looked at each of the models across 16 different variables, including price level, setup costs, billing and contract terms to better understand competitors’ pricing tiers and discounting practices.
The Market Insights team built six competitor product and pricing profiles highlighting key differences in pricing and discounting models in order to best identify how Signpost could optimize its own model.