Unkover your competitors’ Marketing Secrets
Say goodbye to wasting hours on competitor analysis by equipping your team with an AI-driven, always-on competitive intelligence platform.
Say goodbye to wasting hours on competitor analysis by equipping your team with an AI-driven, always-on competitive intelligence platform.
Stay Ahead with AI-DRIVEN Competitive Intelligence
Unkover is your AI-driven Competitive Intelligence team delivering critical updates about your competitors the moment they happen:
Track your competitors website changes
Why spend all day stalking the competition when you don’t have to?
With Unkover, you’ll know instantly when your competitors tweak their messaging or shake up their pricing. No more endless scrolling through their sites or second-guessing your strategies.
Let us do the heavy lifting for you, ensuring you’re always in the loop by notifying you the moment a critical change happens on your competitor’s pages.
Sit back, relax, and keep winning—Unkover makes sure you’re not just in the game, you’re always a step ahead.
Read your competitors emails
Companies love updating their customers and prospects about relevant news, product updates, and special offers.
That juicy info from your competitors? It’s yours too. Unkover will automatically capture all their emails and bring them right to your doorstep—accessible to your entire team, anytime.
[COMING SOON: Our fine-tuned AI will sift through these emails, extract key information and send them over to the best team within your org. Less noise, more signal!]
We hear you! Unkover’s goal is not to flood you with tons of data points that no one in your team will ever read. We gather competitive intelligence from thousands of data sources and use AI to highlight actionable information to the right team in your company.
Say goodbye to noise. We’re 100% signal.
ROADMAP
We’re excited to get Unkover in your hands as soon as possible and keep building the best competitive intelligence tool with your precious feedback. The roadmap for the next few months is already exciting, so take a look!
While we build and deliver, here’s our promise to you: as an early tester and customer, you’ll lock in an exclusive bargain price we’ll never offer again in the future.
Spy on your competitors’ full marketing strategy: social, ads, content marketing, email flows, and more.
Track competitive Win/Loss analysis and build battle cards. Get alerted at every pricing change.
Get immediate alerts when competitors announce new features or major releases. Identify strengths and weaknesses from online reviews.
Get the competitive intelligence you need where you need it: Slack, eMail, MS Teams, Salesforce, Hubspot, Pipedrive and more.
slack integration
Unkover’s Slack integration lets you keep your whole team up to speed with your competitors’ updates.
Join now to lock in an exclusive 50% lifetime discount
For startups and small teams, it’s the essential toolkit you need to keep an eye on a select few competitors.
Up to 5 competitors
50 pages monitored
10 email workflows
3-day data refresh
$39
/per month
$ 79
50% discount
Billed annually
For growing businesses, it allows you to monitor more competitors, pages, and email workflows.
Up to 10 competitors
100 pages monitored
20 email workflows
1-day data refresh
$79
/per month
$ 159
50% discount
Billed annually
For large companies, it is tailored to meet the needs of multiple teams needing granular insights.
Custom number of competitors
Custom number of pages monitored
Custom number of email workflows
Hourly data refresh
Custom price
Billed annually
Ready to grab a slice of the SaaS market share? To thrive in a competitive market, you need to understand value-added pricing.
But before we go over some of the most commonly asked questions about value-based pricing models and which best practices to follow, we need to stress how important it is to know your target customers profoundly before planning out your pricing.
If you haven’t built your Ideal Customer Profile yet, do that now. With a free Breadcrumbs account, you instantly get the attributes that make up your data-driven ICP—based on your best customers (or any customer segments)—and actions that predict a higher buying intent.
(Or any conversions, such as upsell or cross-sell).
Once you’re clear on your ICP, read on!
A value-based pricing strategy is an approach to pricing where the price of a product or service is based on the perceived value it provides potential customers.
Patrick Campbell, a SaaS pricing expert as well as the founder and CEO of ProfitWell, says:
“Your price is an exchange rate on the value you’re providing.”
A value-based pricing structure typically follows these steps:
Ebook
18 Stunning Pricing Page Examples
Get inspired by these 18 stunning pricing page examples and make your pricing page a money-making machine.
Here are the answers to some of the most frequently asked questions about value-based pricing.
Plain and simple, value-based pricing helps customers establish trust in your SaaS product and brand.
Why?
Because you’ve put in the work and research to discover what they’re willing to pay for the value you provide. The packages and price points you offer are in sync with the data you uncovered—you know what your target customers truly want and expect from you.
Pricing expert and managing partner at Software Pricing Partners, Chris Mele, says:
“You ideally want to invest in the science behind making money after you’ve gotten into product-market fit and are probably approaching the launch of your early access program.”
Note: Mele prefers to use the term “early access program” instead of “beta testing.”
You should never copy a competitor’s pricing even if their product shares many similar features to yours.
Mele advises:
“You need to understand what is in the evaluation set of the buyer. You don’t ever want to look and see what the competitor’s pricing is and go figure out how they’re pricing, how they’re packaging, and copy all of that because it’s not gonna work.”
Mele explains that every model carries its own risk blueprint. When you copy somebody else’s pricing structure, you’re also copying their risk blueprint, which could wreak havoc on your business. The copied pricing might not work for your product, and it might not be sellable by your sales team.
Unfortunately, according to pricing insights pulled from 2,200 SaaS companies by OpenView, 24% of SaaS brands use competitor-based pricing, 27% make an arbitrary judgment call when choosing their pricing, and 10% use cost-plus pricing.
According to OpenView’s pricing report, nearly 4/5 SaaS brands said they change their pricing at least once a year—most of which change pricing multiple times a year. Later-stage companies tend to revisit pricing once a year on average.
Mele says:
“If you’ve reached product-market fit, you’ve got some science behind how you want to make money, and you understand that how you go about making money for your intellectual property, products, and services needs to change and iterate very quickly.
Versus if you’re high growth, maybe you iterate the model quarterly, and if you’re publicly traded, maybe yearly. It just depends on how often you’re putting out products and how often you’re creating more value.”
More on this in a bit.
Now that we’ve covered some top FAQs, here are some best practices to follow when setting up your pricing packages.
Campbell advises that SaaS brands should always start with a value metric. For instance, what you charge per “seat,” “member,” 100 visits, data usage, or whatever metric you’re using.
According to data pulled from nearly 5,000 SaaS companies and over a million different transactions by Campbell’s team, companies utilizing a value metric are growing at nearly double the rate of those that are merely feature-differentiated. And the divide is widening. Campbell says this bakes expansion revenue into your pricing model, which also makes retention easier.
Campbell also says: “A value metric allows you to have essentially infinite price points—maximizing your revenue potential.”
Campbell notes that a simple and quick way to see higher growth rates is to use price localization and internationalization.
This is where you update your pricing cosmetically to use the currency symbol of the buyer—for instance, if they’re an EU user, you’d show your pricing to them in Euros—as well as update the relative price of the product to account for market density.
Campbell says using this technique is an easy way to gain 25–50% higher growth rates.
Customers want to feel as little “pain” as possible when choosing a pricing tier, product, or service—and they do so by copying those who have purchased before them.
It’s why users are obsessed with combing through reviews and testimonials before choosing a restaurant or anything they want to purchase or experience.
You can use this phenomenon to your advantage by highlighting the tier you’d like to sell most of and marking it with a badge, color, or frame so it stands out from the rest.
For instance, take a look at Termly, a SaaS brand that offers a free privacy policy generator in its first package along with additional tiered packages:
In this example, Termly highlights its PRO+ package in a baby blue color and has a “Popular” button next to it to draw the user’s eye to this specific option.
Secondly, the free privacy policy generator in the Freemium option serves as a way to introduce customers to Termly’s products and services. By providing value upfront with the free generator, customers can test-drive the tool before committing to a paid plan.
But there’s a caveat here.
If you don’t have a large pool of potential customers, put the freemium model on the back burner for now. Freemium works best when you have a super large total addressable market, or TAM, and is often recommended for established players—think Slack, Dropbox, or Zoom.
Luckily, Termly serves over 800k businesses, so the Freemium model works well for its user base.
To consistently see a better profit margin, incrementally raising your value-based price point is crucial.
Campbell says:
“As your product and company improve, your price should be tracked alongside that improvement.”
In fact, Campbell says that companies that regularly update their prices at least once every six months are seeing nearly double the ARPU gain than those that update their pricing only once a year or longer.
Using customer surveys to collect customer feedback across your customer segments is pivotal to understanding your target market’s willingness to pay.
Unfortunately, only 6% of SaaS companies have performed sophisticated pricing research on buyer needs and willingness to pay.
Not only does this have SaaS companies guessing how the market will respond to pricing changes, but they also risk outpricing or underpricing themselves out of the market.
De-risk your pricing by pilot pricing your packages before going live—and ideally, before you have a sizable sales team and install base.
A/B testing may be too difficult, but when you can do is have your sales team pilot out your pricing, or you can conduct small-scale pricing experiments.
According to Mathilde Collin, the CEO and Co-Founder of Front:
“Never experimenting with your pricing means you may never learn the value of your product and its potential for growth.”
Collin recommends iterating on pricing frequently using small adjustments—and then monitoring how new cohorts compare to past ones with the old pricing. This method has given Front more confidence in its pricing without significant risks.
And there you have it! Today we covered why a value-based pricing strategy works best for SaaS—along with other SaaS pricing FAQs. We also went over some of the top best practices to follow when setting up your pricing packages.
Are you ready to align with your ideal customer and give them the best value possible? We hope today’s article has shed some light on what to focus on.