Pragmatic Institute’s Post

How to Accelerate Your Subscription Business Proven Methods to Boost Engagement, Retention, and Revenue: 1. Innovate Your Pricing and Packaging Strategies Boost your subscription income with smart pricing and packaging. You can do this by: • Offering tiered subscription plans that cater to different customer needs • Introducing limited-time offers and discounts to attract new subscribers 2. Nurture and Expand Your Subscription Base Grow your business at every stage of the customer journey. Achieve this by: • Creating personalized onboarding experiences for new subscribers • Implementing loyalty programs to reward long-term customers 3. Master Critical Metrics Measure and enhance your subscription business performance. Focus on: • Customer Lifetime Value (CLV): Understand the total revenue from a customer over their entire relationship with your business • Churn Rate: Keep track of the percentage of subscribers who cancel their subscriptions over a given period • Monthly Recurring Revenue (MRR): Monitor the predictable revenue generated from active subscriptions each month Want to learn more? Find out how to Accelerate Your Subscription Business with our workshop https://loom.ly/wynRyKw

Thank you for sharing your experience and for the kind words, Antje! Keep up the great work and continue to inspire others with your dedication to continuous learning! #ProductManagement #Leadership #ContinuousLearning

Navigating complex product solutions in B2B business is challenging. Join us on July 24th at 1 pm ET for an insightful product chat with B2B Product Innovation Advisor, Daniel Elizalde. Reserve your spot here >> https://loom.ly/TCZADEI *Attendees of this webinar will receive a free B2B assessment to identify areas of growth using the B2B Innovators Map* Discover strategies for tackling complex product challenges within enterprise environments and learn how effective innovation and experimentation can mitigate the risk of developing the wrong product. In this conversation, Daniel will share: 1. The critical aspects of launching new and often complex B2B products ↳ Understand the unique challenges and how to overcome them. ↳ Learn from real-world examples and case studies. 2. The importance of selecting the right target market for successful innovation ↳ Identify and prioritize the right market segments. ↳ Tailor your product to meet specific market needs. 3. Effective strategies for gaining stakeholder support throughout the journey ↳ Engage and align key stakeholders from the start. ↳ Use proven techniques to maintain support and momentum. This event is a must-attend for anyone involved in B2B product development. Join us and take your product innovation skills to the next level.

People aren’t buying your products. Did you know that the reason is often the same no matter how much you invest? You’ve listened to the wrong people. Outside-In Approach It’s time to implement a pragmatic, outside-in approach to building and marketing products that sell. This approach focuses on understanding real customer needs and wants. Here are a few specific techniques you can use to get started: 1. NIHITO Visits: Talk directly to your customers. Ask them about their problems and what solutions they are looking for. 2. Market Research: Study your market. Look at trends and what your competitors are doing. This can give you insights into what customers want. 3. Feedback Loops: Create a system for regular feedback. Use surveys or data insights to gather ongoing input from your customers. Download the ebook to learn more >> https://loom.ly/_CgK9v4

Ready to uncover hidden opportunities in your market? 🌟 Join our Focus course and become a market detective! 🕵️♂️ Learn how to: 🔍 Identify market problems and score them like a pro 💡 Align your company's strengths with market values 📈 Build credibility by proving market interest and financial viability Enroll today and transform your market approach! 🎯 https://loom.ly/gVr-VBE

Generative AI is changing everything. Product management and marketing are no exception. Will Scott, one of our expert instructors, recently shared his insights in Authority Magazine. He explains how AI is shaking up the product profession and what we need to do about it. To harness AI for innovation, product professionals should: - Invest in AI education and training. - Collaborate with AI experts to integrate AI into product strategies. - Focus on ethical AI practices to mitigate risks. By taking these steps, we can leverage AI to drive success in product management and marketing.

One of the most significant shifts in business strategy is the move towards a market-driven approach. Many successful companies like Shopify, Unilever, and Salesforce have embraced this strategy. While they had great products, they recognized the need to move beyond a traditional, sales-driven mindset focused on short-term goals. What roadblocks make it tough for other companies to be market-driven?

Think the work ends once your product hits the market? Think again! Mastering the Product Life Cycle for Market Success: 1. Development Stage Invest in research and product development. Design prototypes and test rigorously to meet market needs. 2. Launch Stage Introduce the product with strong marketing efforts to create awareness and attract early adopters. 3. Growth Stage Expand market reach, enhance product features, and optimize pricing as sales increase. 4. Maturity Stage Focus on differentiation, cost management, and customer retention as sales stagnate due to market saturation. 5. Decline Stage Manage declining sales by phasing out the product, exploring new markets, or innovating to extend its life cycle. Understanding and managing the product life cycle is crucial for product success. It provides a framework for strategic planning, market understanding, and forecasting, ensuring sustained profitability and market presence. Learn more >> https://loom.ly/sbb6mqA

Most of us struggle with The Five Skills Every Product Manager Needs Paul Young, one of our expert instructors, shares actionable steps to master these skills in this Friday's ProductChats episode. Paul suggests creating a self roadmap. Think of yourself as a product. Ask where you want to be in a given timeframe. Chart the end point of your journey. Plan all the steps in between. Intentionality is key. Start with a self roadmap. Tune in to this Friday to learn more about mastering product management skills.

There's still time to share your valuable insights! Participate in the 2024 State of the Industry Report survey and enter for a chance to win a free Pragmatic course or workshop. By contributing to this survey, you're helping shape the future of our industry with your experiences and perspectives. Your opinions are crucial, and we can't wait to hear from you! 👉 Start the Survey: https://loom.ly/kBhB7Wc Don't miss this opportunity to make your voice heard and potentially boost your professional development with a free course or workshop. 📢 #IndustryInsights #MarketResearch #ProductManagement