Check our newest report - State of German SaaS Pricing 2023
By clicking "Accept All Cookies", you're unlocking a treasure trove of pricing and monetization knowledge!
These cookies help us analyze site traffic, improve navigation, and tailor our marketing efforts to your interests. By consenting to cookies, you're empowering us to fine-tune our content further, ensuring you get the most valuable insights possible. If you prefer to customize your cookie preferences, simply click "Preferences".

How have we increased TimeCamp's expansion revenue by 50%?

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

Client

TimeCamp is a super intuitive, easy-to-use time-tracking tool that helps you make the best of your time! It integrates smoothly with a vast number of other tools. As consultants, we sell our time for money to the clients, so we understand the enormous value of effective time monitoring. It's crucial for ensuring your projects are profitable. TimeCamp is used by both freelancers and large organizations. 

Situation

TimeCamp approached Valueships with a request to check if there was a hidden opportunity in their pricing that they could exploit. The client's team was eager to assess their current discount policy with external experts. 

Goal

TimeCamp's main objective was to identify the potential impact of optimizing current pricing. 

Approach

As usual in the case of SaaS clients, we took off with our Internal Diagnostic. Our analyst requested all the data regarding matters like last month MRR, feature usage, churn, and growth dynamics. The diagnostic helped us discover that a large portion of the money was leaking in discounts. We also identified an opportunity to increase expansion revenue to improve Net Dollar Retention.

Next, we run a competitive scan. Our researchers gathered tons of data regarding all the companies that were pointed out by our client as competition. After diving into the data, we realized that TimeCamp was receiving higher NPS and feedback scores from its clients than most of the market. What's more, customers saw high value in TimeCamp, compared to the competition. 

After the competitive scan was done, we ran a pricing survey. Its main goal was to identify the best price points for TimeCamp plans, and uncover the most common use cases and characteristics of typical users. We also analyzed packaging and monetization strategy. The responses we collected were then aggregated and analyzed. We discovered that there are some areas where TimeCamp pricing could be improved both in terms of list price and feature preference. 

As the last step, we ran a scenario analysis to assess the impact that new pricing may have. We thought of the worst and the best scenarios and a few between those two. Then, we quantified all those scenarios and prepared a detailed estimation of the changes in MRR

At the end of the project we conducted pricing capability building for the extended TimeCamp team, to make sure the company is ready for implementation. We helped TimeCamp to better understand general pricing principles, helped the CSM and Sales team discover the impact of Value Selling and share our experiances around price increases.

Quick summary

+50% increase in expansion revenue

7 weeks to deliver

2 Managers + Data Analyst + 2 researchers: Valueships involvement

Increased pricing capabilities of the executive team

Interested in creating a lasting impact for your company, too?

Leave us your contact details and we'll get in touch with you soon.

We work for clients from all over Poland as well as abroad. We can arrange a videoconference, talk on the phone or meet in our Wrocław office. However, please email us in advance or contact us via the form.

Your personal data will be processed in order to respond to your request and maintain further business communication. If you consent, we will provide you with our marketing content, including our offer of services, business meetings, and webinars, through the email address indicated. You can withdraw your consent by sending messages to the email address: dataprivacy@valueships.com  The withdrawal of consent will not affect the compatibility of the processing carried out on its basis before its withdrawal.The controller of your personal data is VALUESHIPS Sp. z o.o. ul. Wielka 67, 53-340 Wrocław, Poland. Details on data processing can be found in the Privacy Policy. For the Terms and Conditions of Providing Electronic Services, including Newsletter services, please see the Terms and Conditions of Services.

* Mandatory fields

Thank you!

Our consultant will contact you soon!
Oops! Something went wrong while submitting the form.