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What offer and pricing actions have you taken in response to the COVID-19 crisis?

LauraFay
LauraFay VP & Managing Director, Research & AdvisoryMember | Guru ✭✭✭✭✭

Members have been asking this about offers and pricing updates, changes and market withdrawals during this time. The quick poll is designed to capture these trends. Feel free to check it out.

https://www.surveygizmo.com/s3/5568951/TSIA-Rapid-Research-Response-Offers-and-Pricing-Impact

Best Answers

Answers

  • LauraFay
    LauraFay VP & Managing Director, Research & Advisory Member | Guru ✭✭✭✭✭
    edited May 2020

    @Melanie Gallo sounds like a great experiment. Do share the results you see from seeding the customer with the additional functionality.

  • Melanie Gallo
    Melanie Gallo Senior Director Founding Member | Scholar ✭✭

    @Laura Fay Although, I can't share specific results, we did have strong double digit increases in April over LY.

  • LauraFay
    LauraFay VP & Managing Director, Research & Advisory Member | Guru ✭✭✭✭✭
    edited May 2020

    @Melanie Gallo Good to hear.

    Interesting on the renewal action. Love to hear about others are adding incentives to the renewal offer?

  • StevenForth
    StevenForth Managing Partner Founding Partner | Expert ✭✭✭

    We have been doing a fair bit of research into this at Ibbaka. The most common things we are seeing are that people are modifying the terms of trade (especially payment terms) 40% and layering in additional professional services 37%. Actual price level changes are less common, 14%. Five percent of people have actually increased list prices!

  • DougCaviness
    DougCaviness VP, B2B Strategy & Partnerships Member | Scholar ✭✭

    Covid has actually created more demand for digital products sold via ecommerce for us, so we're actually seeing a significant uptick in sales as result. In terms of new service offers we are looking at creating more focused offerings targeted to the needs of a specific subset of personas to reduce client complexity to adopt our technology.