Thank You Sponsor: Pricing Innovations

by The TECHdotMN Team

It is important we recognize those who financially sponsor TECHdotMN because their direct contribution advances Minnesota’s technology industry.

Thank you Pricing Innovations for reinvesting!

What does Pricing Innovations do?

We are a product consultancy focusing on pricing and monetization, and the creators of The Pricing Canvas ™ . We focus primarily in technology pricing: SaaS, IoT, health-tech, ed-tech, and technologies to advance social innovation.

When/why/how did the company begin?

Esra Kucukciftci, the founder, has worked in all aspects of product – development, management, marketing, and realized that even some of the greatest products couldn’t translate product success into business success. P

ricing strategy is key to making it in the market, where 70% of new products fail to meet their revenue and profit goals. Monetization is too costly to “figure out once we have traction” and it must be nailed down much earlier in the product journey – even before the MVP. Pricing Innovations team recently launched The Pricing Canvas ™ and introduced a set of methodologies for teams to do just that, and get their pricing and monetization right.

What is unique about Pricing Innovations?

Our jam is to create innovations in how we price and monetize products and services. We help teams to monetize the entire product lifecycle by aligning the four key structures of their offering: product structure, offer structure, pricing structure, and cost structure. We stand for more science and less art in pricing.

Why sponsor TECHdotMN?

We are an MN-based venture ourselves and would like to become a core member of our tech community here in the Twin Cities. So many of the new products and technologies in our ecosystem have societal level impact and indeed change lives; we want them to make it in the market, and we’d like to help make that happen.

How could Minnesota’s tech industry improve from your perspective?

In our work, we often see innovation teams putting too much emphasis on the technology and product itself and not enough on the gaps that exist in the buyers’/users’ current value stack. Product-focused development is a really costly way of learning, and the sooner the teams embrace value-based development the better they can monetize their space.