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How have we increased Thulium's ACV by +30% on newly acquired customers through adjusted pricing?

by
Krzysztof (Kris) Szyszkiewicz
in
Head of Delivery, Partner
April 18, 2023

Client

Thulium is a top-flight contact center tool to support any demanding customer service department. It enables effective management of all the channels: helpdesk, IVR, chat, etc., from one place. Easy to use with a tasteful and non-overwhelming dashboard and dozens of possible integrations, including other top-class digital tools, Thulium is one of our favorite SaaS in this market segment.

"Working with Valueships was a pleasure from start to finish. They framed the problem correctly, provided us with a structured approach, calculated the impact of our potential decisions, and facilitated the change management process throughout a few months."

Łukasz Kozłowski, Thulium CMO

Situation

Thulium was preparing to re-launch their entire platform. They approached Valueships with a request to create a new customer-oriented offer and a pricing design, enabling higher profitability. The first interaction happened after the SaaStock event, where top SaaS companies from the CEE region met to network. Valueships experts attended that event as guest speakers. After initial discussions, we have confirmed that Thulium had their customers grandfathered into the old pricing modules, and in general, it’s been a while since the last pricing changes.

Goal

The main objective was to positively impact ARPU with changes in service pricing and to maintain the leading position in the market.

Approach

As usual, we began with a deep dive into internal client and main competitors’ reconnaissance. We managed to gather a bunch of mystery shopper insights. We discovered that Thulium had a much lower price point than the competitors. Considering how much they were giving - e.g., dedicated onboarding and free implementation workshops - we agreed that there was an imbalance between offered value and service pricing. Also, very positive client relations and low churn were a clear indicator that there was room for a price increase. 

As a next step, we ran an internal strategic alignment survey that helped frame strategic goals and prioritized features pricing. It ensured the organization had a consensus about how they perceived the value generated by various product areas. 

The Valueships team arranged a pricing page workshop to ensure that the whole Thulium team was going to be aligned when it came to implementing our recommendations.

As always, we prepared a detailed calculation of the recommended actions' potential impact to ensure that Thulium management got the proper perspective of risk to benefit ratio. We’ve provided three scenarios varying by estimated price elasticity (based on the B2B-specific benchmarks). 

Quick summary

+30% increase in Average Customer Value (ACV)

0% churn increase

4 weeks time-to-develop

1 Engagement Manager + Data Analyst: Valueships involvement

Increased pricing capabilities of the executive team

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