Pricing and Retention Strategies (led by Patrick Campbell) #2249

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 15 October 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2249 we hear another session from the Leveling Up Founders Event where Patrick Campbell talks on the topic of pricing and retention strategies. Patrick recently sold his company ProfitWell to Paddle for about $250 million. On a monthly basis, he asks himself the question “What if a private equity firm bought us tomorrow?” Tune in to find out how looking at your business through the eyes of a private equity firm can help you in terms of pricing and retention. TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: Patrick Campbell on Pricing and Retention Strategies [00:45] Why you should ask yourself “What if a private equity firm bought us tomorrow?” [01:20] Why you should raise your prices if your NPS is over 20. [01:32] How to raise your prices and suggestions around messaging. [02:46] The most important point to include in your messaging. [03:13] The importance of add-ons. [03:48] Price localization: why you should have different prices for different regions. [04:14] Why you should cap discounts at 15% [04:32] Why 15 - 20% of your new monthly revenue should come from your existing user base. [04:57] Patrick’s closing words on cuddling with the chaos. [05:19] Find out more about the Leveling Up Founders Event at live.levelingup.com [05:50] That’s it for today! Don’t forget to rate, review and subscribe! [05:56] Go to https://marketingschool.io/live to learn more! Links Mentioned in Today’s Episode: Patrick Campbell ProfitWell Paddle Find out more about the Leveling Up Founders Event at live.levelingup.com Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips
0:06.4	and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.8	Let's start leveling up your marketing knowledge with your instructors, Neil Patel, and Eric
0:16.8	Sue.
0:19.1	We got a special message from our sponsor.
0:22.8	If you want to rank higher on Google, you've got to look at your paid speed time.
0:27.3	The faster your website loads, the better off you are.
0:30.1	With Google's Corvital update, that makes it super, super important to optimize your
0:34.1	site for low time.
0:36.3	And one easy way to do it is use the host that Eric and I use, DreamHouse.
0:40.8	So just go to DreamHouse or Google it, find it, check it out, and it's a great way to
0:45.7	improve your low time.
0:47.5	All right.
0:48.5	So I wanted to take a second to tell you about my ad agency, Single grain.
0:53.2	So the cool thing about Single grain is that we do a whole host of things, paid media
0:57.1	SEO, conversion rate optimization, and we are offering a free marketing plan.
1:02.6	So if you just Google Single grain marketing plan, you will be able to find it.
1:08.7	And you can just register for a free marketing plan and our team will get back to you.
1:12.3	All right.
1:13.3	Guys, before we start, we got a special message from our sponsor.
1:17.6	If you want to rank higher on Google, you got to look at your paid speed time.
1:22.1	The faster your website loads, the better off you are.
	...

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