B2B Growth: Your Daily B2B Marketing Podcast
B2B Growth: Your Daily B2B Marketing Podcast

Episode 1769 · 2 months ago

Refine Labs Changed Their Pricing - Here's Our Take | The Echo Chamber

ABOUT THIS EPISODE

Welcome to The Echo Chamber. Quick riffs and hot takes from around B2B Marketing.

On today's show the guys discuss a recent pricing change Refine Labs made and its potential ramifications.

Sponsors:

If you’re hiring, you need Indeed.

Sign up and get a $75 credit to sponsor your first job for better visibility, more applications and quicker hiring times. Stay in control with payment billing options, no long term contracts, pay for only what you need and pause spending at any time.*

Claim Your Credit

*Sponsored Job credit offers available only for new U.S. accounts posting a job that expires one year after account creation. Upon expiration of credits, users are charged based on their Sponsored Job budget. Terms, conditions, and quality standards apply.

Conversations from the front lines of marketing. This is B two B growth. Welcome back to the Echo Chamber, a little series we're playing around with here on B twob growth. My name is James Carberry, I'm the founder of sweet fish and I'm joined today by Dan Sanchez, our director of audience growth, and today we are going to be talking about refined labs, the darling of B Two b marketing land right now, and how they have recently changed their pricing a bit. So I got a text message from you, Dan, the other day and you were like, Hey, this is super interesting. Refined labs load their highest tier price uh and before, I believe, they only had one price. It was like thirty eight K a month, and now their highest tier prices thirty one five, their lowest tier prices fifteen. You can also work with them at nineteen five a month or two or five a month. So ill like, relatively, I mean, we're an...

...agency, our pricing does not look like this. I thought this was a really smart move for them to capture more of the market that they have so much attention in right now. But Dan, what were your thoughts? You were obviously the one that sent me the text. So what was going off in your head when you saw this? Man? As soon as I saw this, I was like, oh my gosh. One, did I change their pricing tier? Two, I actually know what they're doing. Now. For two years I've been kind of watching their website as they've grown in popularity, and there they would just offer one price point and every quarter it seemed like it went up by a multiple of five k a month. So it's like fifteen thirty and I was like how high can it go? Like, what do they what do they even do? It's like one of the first things I check when I'm trying to check out our products. I go to the pricing page before I even go to the product page, because usually the pricing page gives way more clarity as to what the heck you're buying. Right. I don't know what it is with Sassin, like B two B services, but the pricing page is gold as far as like what this company's actually...

...about, what their offer is and everything. So I when I finally went to refined labs and saw the pricing tiers, they gave a really clear snapshot of as too, far as what the value they were offering, how they were pricing it and how they broke it out. It's also an indicator of kind of what's going on in the economy. They probably could have stayed on that same pricing tier had demand kept going up. Why Change? It's kind of like people are knocking, beating down your door without a lot of clarity, without a lot of pricing options. Just keep only offering them the highest price tier. Why do more? But the SAS market, the tech market overall, is kind of taken a hit over the last six months and that kind of changes things. So now they've had to pull back their top price and offer more options, which I think is an indicator of what's going on in the market for somebody who has as much demand as refined labs. Yeah, I think it's so smart. I've talked to people on their team about kind of the evolution of their pricing and and how they were just doing paid ads and then they started layering in creative. So that was a reason for a price ump and then and then they started layering in. It was either...

...consulting or there was some element of blanking. Right now on like kind of how they how they phased it up. But right now on their on their side. For fifteen km months you get demand advisory. So it's essentially just consulting. It says you execute with our strategic advice. The next phase up at nineteen five. Uh, they actually help you with your paid media and then you phase up to four five and that's you know what they what they have on here is you want to be a category leader. So they're loading in creative. They've got to know they've if you look at their who works for refined labs on Linkedin, they've got a really stacked creative team. So now you're you're not just getting paid media, you're also getting the creative, which we all know. The creative is really what makes the paid media sing. And then that last stage, full service. You want maximum growth. I would imagine that's integrating probably more of their consulting, maybe some their higher...

...level consulting. I know they've got a structure where they've got a VP of demand Gen and a director of demand Gen. You might get a little bit more of that vp of demand Gen. I don't know for sure because they don't have it is spelled out here. Well, I guess they do. They've got a they've got checkboxes under here. So under that highest. Here it says revenue insights and demand strategy, which is included for everything. Subscription to the vault, which you know this is data insights, playbooks. This is a product we've been seeing Chris talk about for probably close to a year now. I feel like he's he's really been wanting to to product size the business in this way for a while and so it looks like that's starting to to come to fruition. I know they've got some Beta users in there using that access to private community trainings and events, which again is included with everything. Paid media optimization and execution. And then demand creation for category and brands. So again a little vague on on what the actual execution is there. But then below here create demand for category and and includes category and competitive positioning...

...analysis, messaging and design optimization campaigns focused on demand creation, platform specific messaging and design, and the new campaigns launched every six to eight weeks. So they're they're refreshing that creative and those key messages over and over and over again. I love what these folks have done. I mean I just think, you know, really the way they name and claim things dark social demand creation versus demand capture they're giving B two B marketers language that we we haven't had before, and some people crap on that. So well, you're just given, you know, the thing that we've always known, a new word, but they've, to me, executed it brilliantly. Chris is so consistent on Linkedin. So I think this is a really smart move. I think they're gonna be able to work with now a whole lot more companies by opening up the pricing a bit. One last insight from this page that I got that I thought is really smart for a B Two b service agency, and I...

...think sweet fish will probably do something similar in the future, is that before you can get to the pricing, you have to scroll through a different part of this. The top part of this is, uh, your your refined labs demand creation team. So they're giving you pictures of like the team that's going to work for you. Because once you look at the price and you're like thirty one K A month, a month, I could hire a couple of people for that, like well paid people. What's stopping me from doing it? Well, but can you hire all six of these people and can you actually attracted to come work for you? The same way refined labs can. That's the difference and that's what he's using it by putting that on tops like well, you get access to a VP of demand Gen a director demands and a performance marketer, creative director, senior graphic designer and senior copywriter, all going to work to make your brand number one. Can you do that for thirty one K A month? Probably that's what they're trying to position by putting these roles up front, and it's smart. It's super smart because that's the first thing I think of a marketer. As a marketer, I'm like,...

...can I recreate this on my own? Yeah, and if you know refined labs and have already been like eating up what he's been putting down on Linkedin and on his podcast, you look at that and you're like nope, probably can't. Um At least I imagine that's probably what's going through most people's heads as they're visiting this page. So it was just a smart move for a service agency to do, to put that upfront. Yeah, I think it's super smart. Again, I think Chris is doing a lot of smart stuff. Christ and team over there, or fine labs, are doing a lot of smart stuff. So I really enjoyed this conversation. Dan. We're gonna do it again. If you are listening to this and you're you're liking these echo chamber episodes. In last week we broke down an episode are on Nick Bennett and something that he did gifting folks that are are fans of of Alice when they gave g two reviews. Is it ethical? Is it not ethical? We broke that down, so if you haven't listened to that episode, go back and listen to that episode. Uh, and we're going to do another one of these next week as well. If you're liking these echo chamber episodes, just reach out to Dan or my self on Linkedin and let...

...us know. We love hearing that feedback and make sure to leave a rating for B two B growth on whatever podcast platform you're listening on, whether it's spotify or apple podcasts. Just tap the number of stars you think the show deserves and we will see you soon. If you enjoyed today's show, hit subscribe for more marketing goodness, and if you really enjoy today's show, take a second to rate and review the podcast on the platform you're listening to it on right now. If you really really enjoyed this episode. Share the love by texting you to a friend who would find it insightful. Thanks for listening and thanks for sharing.

In-Stream Audio Search

NEW

Search across all episodes within this podcast

Episodes (1802)