In the fast-paced world of software-as-a-service (SaaS), understanding your competition’s pricing strategy is crucial for positioning your product effectively. For enterprise accounts, where deals are often large and complex, getting an accurate sense of competitor pricing can make or break your sales strategy. This article by Aqute Intelligence will guide you on how to find competitor pricing for SaaS enterprise accounts in a detailed, strategic way.
Why Knowing Competitor Pricing Matters
Before diving into how to find competitor pricing, it’s essential to understand why this knowledge is so valuable.
Gain Market Insight
When you find competitor pricing, you get a direct view into how others value their products, which features they prioritize, and how they segment the market. This insight helps you align your pricing model with market expectations and identify gaps or opportunities.
Improve Your Positioning
Knowing competitor pricing lets you craft a pricing strategy that differentiates your SaaS offering. Whether you choose to position yourself as a premium, value-driven, or disruptive alternative, understanding competitor pricing is the foundation.
Drive Better Sales Conversations
Sales teams armed with competitor pricing data can address objections more confidently and negotiate more effectively. This can be a decisive advantage in closing large enterprise accounts.
Step 1: Research Publicly Available Information
The easiest and most straightforward way to find competitor pricing is through public sources.
Company Websites and Pricing Pages
Many SaaS companies publish pricing details directly on their websites, often under a “Pricing” or “Plans” section. While enterprise pricing is frequently omitted or described as “contact us,” you can still glean valuable information on tiered pricing models and feature sets.
Industry Reports and Market Research
Look for reports from firms like Gartner, Forrester, or IDC that may include competitive analysis and pricing benchmarks. Although these reports can be expensive, they often contain verified, up-to-date data relevant for enterprise SaaS products.
SaaS Pricing Aggregators
Platforms like G2, Capterra, and GetApp sometimes provide pricing information shared by vendors or users. These platforms also offer reviews and ratings that can help you contextualize pricing in terms of perceived value.
Step 2: Use Direct and Indirect Competitive Intelligence Methods
When public data is scarce, more investigative methods can help you find competitor pricing.
Request Quotes Under Pretenses
Create dummy accounts or inquiries under the guise of a potential customer. This approach helps collect actual pricing quotes tailored to enterprise needs, including any customizations or volume discounts.
Attend Webinars and Conferences
Competitors often reveal pricing strategies during webinars or industry events. Participating in these sessions can offer direct insights and opportunities to ask pricing-related questions during Q&A.
Analyze Job Listings and Employee Feedback
Sometimes, job postings or employee reviews on sites like Glassdoor can hint at pricing strategies or sales targets, which indirectly helps estimate competitor pricing structures.
Step 3: Leverage Your Network and Partnerships
Networking is a powerful but often underutilized tool for competitive pricing research.
Talk to Industry Experts and Consultants
Consultants who specialize in SaaS or enterprise sales often have insider knowledge on pricing trends. Engaging them can provide tailored and actionable insights.
Connect with Current and Former Employees
Ex-employees or partners might share non-confidential pricing information. Always approach these conversations ethically and respect confidentiality agreements.
Collaborate with Channel Partners
Resellers and integrators often deal with multiple SaaS vendors and have firsthand experience with pricing. Their perspective can help you benchmark competitor pricing.
Step 4: Analyze Pricing Components and Models
Finding competitor pricing isn’t just about numbers; it’s about understanding the structure and value proposition behind those numbers.
Pricing Models to Consider
- Per User/Seat: Pricing based on the number of users.
- Tiered Pricing: Multiple levels of service with increasing features.
- Usage-Based: Pricing tied to metrics like API calls or data storage.
- Custom Quotes: Tailored pricing based on enterprise needs.
Identify which models your competitors use and how flexible they are with discounts or add-ons.
Feature Comparison
Map competitor pricing to features and service levels. This lets you understand the value delivered at each price point and identify over- or under-priced segments.
Contract Terms and Discounts
Evaluate contract length, payment terms, and discounting practices, which heavily influence the effective cost of SaaS enterprise accounts.
Step 5: Use Pricing Intelligence Tools and Software
Several specialized tools can automate the collection and analysis of competitor pricing data.
Pricing Monitoring Software
Tools like Price2Spy, Kompyte, or Prisync track competitor pricing changes and provide alerts. They can save time and improve accuracy.
CRM and Sales Analytics
Integrate competitor pricing data into your CRM to inform sales strategies and forecast revenue more effectively.
Data Aggregation and Visualization
Leverage business intelligence platforms to consolidate data from multiple sources and create clear pricing dashboards for your team.
Step 6: Continuously Update and Validate Your Data
Competitor pricing is dynamic, especially in SaaS markets where innovation and customer demands evolve rapidly.
Schedule Regular Reviews
Set up monthly or quarterly check-ins to refresh your competitor pricing information, ensuring it stays relevant.
Validate Through Customer Feedback
Use insights from your sales and customer success teams to confirm that your competitor pricing data reflects real market conditions.
Adjust Your Strategy Accordingly
Use updated pricing intelligence to refine your own pricing model, discounts, or packaging, staying competitive and aligned with enterprise needs.
Challenges When Trying to Find Competitor Pricing for SaaS Enterprise Accounts
Lack of Transparency
Many SaaS vendors do not publish enterprise pricing due to the complexity and customization involved. This means you often need indirect methods or contacts to get reliable information.
Pricing Variability
Enterprise accounts typically involve negotiated deals, so pricing can vary widely based on contract length, user count, and service levels.
Competitive Risks
Approaching competitors’ customers or partners for pricing information must be done ethically to avoid reputational or legal issues.
Best Practices for Using Competitor Pricing Data
Use Data to Inform, Not Dictate
Competitor pricing should guide your strategy but not force you into a race to the bottom. Focus on value and differentiation.
Combine Pricing with Product and Market Analysis
Pricing is just one element; consider features, customer service, and brand reputation in your competitive assessment.
Train Your Sales Team
Ensure your sales reps understand competitor pricing nuances to have confident, informed discussions with prospects.
Conclusion
Finding competitor pricing for SaaS enterprise accounts is a multifaceted task requiring a blend of research, networking, and analytical skills. By systematically using public data, direct intelligence methods, networking, and pricing tools, you can develop a comprehensive understanding of your competitors’ pricing strategies. This knowledge empowers your company to position your SaaS offerings competitively, negotiate enterprise deals effectively, and ultimately drive growth. At Aqute Intelligence, we recognize that mastering how to find competitor pricing is foundational to succeeding in the complex SaaS enterprise landscape. Keep your data current, leverage insights thoughtfully, and always prioritize delivering superior value to your customers.
