Case Study: In-Person Event

About the Organization:

The Client is a nonprofit 501c3 organization focusing on education for families and parents regarding the next generation they are raising. They do this through a combination of conferences, digital membership, books, and curriculum, serving over 10,000 families per year directly and over 40,000 families per year via social media.

The Challenge:

The Client was a new entity that was birthed out of acquiring a prior nonprofit, going through a rebranding for the new entity launch. Because of this, they understood that they had a unique opportunity to reset the value propositions and pricing that they had for their products. In addition, they wanted to launch a brand new digital membership that had never existed before, so they turned to Pricing for Associations to price their conferences, their sponsorships, and their brand new digital membership.

Our Custom Solution:

To overcome this challenge, Pricing for Associations customized our proprietary framework to determine the right answers for our client. Our framework always blends the science of data-driven decision-making and the art of pricing and value psychology to confidently lead our clients in their pricing and value strategy.

Step 1. Kick-Off Call

We began by welcoming their team into our family of clients, building trust, and understanding their intended goals. We reviewed our timeline to ensure we were on the same page with deliverables, discussed what internal data existed to review, and received a demo of any pertinent products and technology to best understand the product.

Step 2. Historical Data Analysis

We reviewed internal data inclusive of segmented personas and their purchasing behavior, prior surveys and market research related to this project, enrollment, retention, and engagement metrics, and historical purchasing patterns in light of price promotions, discounts, and bundles. This allowed us to understand a clear picture of how the current persona segments interacted with various pricing and value levers.

Step 3. Market Research

Pricing for Associations crafted and conducted a custom survey to clarify segmented personas, key value-drivers, what value was missing, relative value, price sensitivity, and competitive analysis. We then conducted a series of focus groups to further validate the data we gathered and to clarify any nuance in answers. Sometimes we need more data, so our team conducts 1-1 calls if focus groups are low to ensure we have proper data. This information was compiled into a report for our client to best understand where their audience was and to drive data-driven decision-making.

Step 4. Market Testing

With data in hand, we crafted a conjoint analysis with variations of the product to test the audience's consumer behavior when presented with variations in value and price. This allowed us to best capture what the audience would actually purchase, rather than hypothetical answers that can be slightly skewed. With this data in hand, we were confident to present our recommendations to our client.

Step 5. Pricing and Value Roadmap

Pricing for Associations created an in-depth roadmap for our client inclusive of our historical data analysis, market research, market testing, recommended value propositions, value adds, and pricing for not only the upcoming year, but additional strategic recommendations to execute over the following 3-5 years. These recommendations also included quarterly and annual market research questions the organization could use to continuously improve their knowledge of pricing and value needs.

Step 6. Launch

Our client was able to execute their Pricing and Value Roadmap with our continued 30 days of support, so there was no stress when executing their next steps.

The Winning Outcome:

Pricing for Associations was able to confirm the best pricing for the Client's in-person events, while expanding to different verticals for events so that they could hold more custom events for various personas throughout the year, resulting in a more valuable experience to their audience while expanding their market share. We were also able to help them with repackaging sponsorships and selling sponsorships in a way that increased their sponsor revenue by over 50%. In addition, Pricing for Associations was able to help them launch their digital membership with the right value-adds for their audience while capturing the correct price to match that value.

By working with Pricing for Associations, the Client actualized an ROI of 30x on their investment in consulting services within the first 12 months, with revenue continuing to remain high for years to come.

Ready to Fix Your Pricing Roadblock?

We would love to meet for a virtual coffee chat to discuss your goals and confirm how we can guide your organization forward. It's as easy as 1, 2, 3:

• Complete our contact form at www.pricingforassociations.com/contact

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• Our team will be in touch within 1 business day of submitting your questionnaire to book your coffee chat. Cheers!