Four Lessons In Pricing Innovation
Innovative approaches to price and packaged financial services can be a competitive advantage. However, you must remember that pricing is one of the most challenging decisions a company has to make. Price a product too high and you risk scaring away customers. Price a product too low and you risk not generating enough profits to ensure the viability of your company. Overcomplicate a pricing scheme and you will burden both you and your customer with an arduous buying process.
So what guidelines can you follow to ensure a fresh pricing approach can support the future growth and profitability of your enterprise?
Fintech firms, challenger banks and other financial institutions are implementing bold, new approaches in how they are packaging and pricing financial products and services. Neobank MoneyLion is bundling banking, investment management and lending services for a monthly membership fee, in the style of Netflix and Amazon Prime. New banking […]