Videos for The Upside

August 14, 2023

In this short video, Cory Buchanan (VP of Sales, North America) discusses exciting changes to our pricing structure.

Video Transcript

Speaker: Cory Buchanan

Hey team, good morning, afternoon. Super pumped to be your speaker today. Got the exciting news today, we've actually changed our Client price model and I think all of you are going to be super pumped about it. This was done based off your feedback. You know, we've been doing a lot of discounting, the modules have had some challenges and you all did a great job selling it, but it just hasn't got the traction that we wanted. So let me walk through a little bit what the new price model is going to look like and then tell you about some of the strong benefits to get you all running that direction. And I'm assuming some of your leaders have already kind of prepped you for what this might look like, but it's all locked in now and, I'm just super amped that we got it through. So first thing is that we're going to a license fee model no longer modularizing the platform. And so what that's going to look like is instead of 10, 15, 15, whatever it was, we're going to a regional license fee. So if you are one country, we use the USD rate card as an example. One country, 40K Avetta One all products and services. You can use what you like. If you're a global deal, meaning two countries, Canada, US or Canada, UK, APAC, whatever it might be, you go from 40 to 65. So super simple. If you're at 40 you want to go global, it's now 65, $25,000 more. We've also instituted a CUP program for the New Logo sellers. So no more just discounting, we actually have a rate card at 20K and so that's super, super awesome as well. Now what this does ultimately number one: simplification, right? We've been selling off modules. It's a bit difficult. You're getting new stakeholders, we even had some deals go to RFP just because we've got access to new folks and they're like, oh wow, you can take out, you know, business risk. So let's look at our D&B portal so we can we do that so then they go throw it out to RFP and it really broadens the, scope and creates more challenges for us versus just making it simple and adopting our platform for more features. So by simplifying this, no more modules, we can sell based off the maturity of the customer and really tailor the program to their needs regardless of what they're looking for, but the price is the price, 40 and 65. It also does something when we transfer from New Logo to Account Management. So you're an AE, you close the deal you sell based off safety. That's our core bread and butter. That's usually what happens. You sell based off safety, you pass it over to an Account Manager and now the Account Manager right now has had to go in try to sell different modules, read paper, new agreements and again, it could trigger RFPs or whatever else that might come from that. But now they have access to everything. So whether they're using safety or not, it's a lot easier for the Account Manager to increase that momentum and get deeper, more sticky, find more supplier types, geos, et cetera without having to get a new agreement or sell specific product types. Other thing - we're now more competitive. We were pretty spendy, especially internationally when we looked at our list rate card globally. All y'all know, right, 65 and then plus plus plus plus, we ended up being significantly more expensive than our main competitors which really just made us discount. We didn't really go at list and so now we can sell at list, which is super exciting as well. So what's going to happen is there's going to be some deal training coming out and some different scenarios. What we're going to do, especially with the existing Clients that were either in old paper or might be on a Avetta One or a bottom module. Like, what do you do in those scenarios? So, we're going to get that out to you all. but at the end of the day, yeah, I think all of you are going to be really positively impacted from this and it should make your life a lot easier to explain our product and service offerings. We're definitely more competitive in the marketplace and we should get more product adoption for all the different modules that today are under utilized in comparison to our core. So super amped - if you have any questions, any of the sales leaders are happy to answer them and yeah, happy hunting!

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