Pricing Models
In this ever-changing world and in the age of competition it is important for your business to be dynamic in nature. To stay ahead of the competition, it is important to have customer centric pricing models which are adaptive and flexible. In order to cater to this you will need a billing solution partner to help you unveil the transparent pricing and the innovative billing plans!
We at Earnbill are committed to cater to complex billing needs with our solutions. We are dedicatedly working to provide you with innovative solutions that streamline your invoice process and ensure accuracy, efficiency and cost-effectiveness. By using cutting-edge technologies and customer centric approach, we are committed to support different pricing structures and patterns across various industries. The ultimate aim of our offering is to transform your revenue system!
With the focus on reforming your revenue management, we at Earnbill have an expertise in catering to varied, hybrid and complex pricing patterns. Here, we will have a look at some of our pricing models:
Flat Rate
It is a payment model where a fixed rate is specified per defined quantity or duration of service on offer. For example, mobile data could be charged at $5 per GB of additional usage above the plan. This would be then termed as an overage flat rate for the mobile data usage.
It is an easy to understand model for your customer. The companies catering to this have to offer additional services periodically to keep the customer engaged. Your company can earn additional revenue by increasing the rate of the services.
This is a subscription model where your company can offer packages and combinations of various services, features and functionality at a varied rate. Each package comes with a selective list of services and functionality, higher the pricing of the package, greater is the amount of features to be offered. Your Company definitely understands that various customers have various requirements and with respect to this you can encourage customers to move to higher packages.
In B2B business scenarios pricing is the most essential part of the business. On the enterprise platform, companies offer subscription membership for cloud storage and computing, marketing tools, automation tools, CRM ,IoT devices and much more. Such business scenarios require different pricing plans with respect to the nature of the domain in which they operate.
Tiered Pricing Model
Per-User Pricing
Companies pay with the number of its users/employees having access to the product/services. Each user is charged over a definite time interval. Depending upon the set of functionalities, the charges will be different for your different users. Several companies in the project and resource management domain or companies related to CRM are using this pricing structure effectively.
This is a pricing model which is based on usage aggregation and consumption. Different packages and tiers are formulated based on quantified measures of consumption of the service/product. Such models will help you drive additional revenue by encouraging the enterprise consumers to consume more. This pricing structure model is a popular one and is used from the telecom domain to automation tools.
Unit Tiered Pricing
Freemium Pricing Model
This is a Subscription model that offers free access to product/service with a set of limited features. If your user wants to have more features and greater functionality then he will have to pay. Companies using this model give an indefinite trial period to the consumer but with very less features. This will allow your consumers to test and assess your product/service and encourage them to get subscribed.
This model results in more customers and increase in customer loyalty. This model has been adapted by companies who target a large number of the population as their potential customers and the domain ranges from social networking to entertainment industry.
This is a subscription model where fixed charges are used for limited features and for overuse some additional amount is charged. This is a subscription model with a set parameters of usage for most of your users but helps you to monetize for your heavily consuming customers as they will cost you more to support. This is also known as Graduated Pricing.
Over Consumption Pricing
Volume-Based Pricing
Your billing requirements may evolve over time as your business grows. To accommodate this growth, it is important to support your volume-based pricing plans. As your billing volume increases, your company can benefit from reduced costs per invoice, incentivizing your business to expand further without incurring substantial additional expenses. Volume-based pricing structure encourages scalability and rewards success.
Every business is unique and requires a different billing approach and billing requirements may also require a personalized approach. Therefore, customized pricing options are tailored specifically to your business requirements. It is important to understand your workflows, analyze your invoicing processes, and devise a pricing plan that maximizes your operational efficiency while minimizing your costs.
EarnBill allows you to extend the existing pricing strategies by allowing you to customize them easily, or set up a completely new pricing strategy. EarnBill uses a plugin based approach to add new pricing strategies with ease.
Customized Pricing
Additional Services Pricing
Value-added features and services are key in order to enhance your billing experience. These can include automated reminders, customizable templates, integration with accounting software, and detailed analytics and reporting. The pricing for these additional services is designed to be flexible and can be added to chosen pricing plans, allowing your company to customize billing solutions further.
Marketing team of the company depends on discounts and promotional activities in order to meet the sales target and for customer acquisition. It is important for your billing system to support different promotion tactics and discounts. EarnBill will allow you to define discounts and start and end dates for promotions and apply discounts to a customer/group of customers and different products.
Special Pricing and Promotions
Earnbill’s comprehensive pricing structure and plans will offer you flexibility, transparency and a cost-effective approach to optimize your billing operations. You can also prefer a customized approach from our pricing strategies and find the right solution for you. Embrace the future of billing with us – at EarnBill!