Configure Product Catalog

a. Design a winning product, pricing, and bundling strategy.

This will be the most strategic aspect of onboarding to MonetizeNow. What you deliver, and how you deliver it, is the essence of your value proposition to your end-customers. Your Product Catalog represents the products, bundles, and pricing for your end-customers (based on desired restrictions and availability).

This is a step to be done in collaboration with Product, Marketing, and the experts at MonetizeNow.

We have put together two blog posts, Part 1 & Part 2 to help guide your thinking in shaping a product and pricing strategy. That said, some guiding principles to help you on this journey:

  • Price to value. What this broadly means for certain classes of products,

    • Person-to-Person Offering - where the value is derived from another person's time dedicated to achieve an outcome - pricing based on hours or as a percentage of end outcome's value is recommend.
      • Common examples include Consultative Services, Implementation Fees, Support, Product Customization.
    • Product-to-Person Offering - where the value is derived from a user extracting insight, creating outputs, or experiencing the product - pricing based on a number of users (segmented by type of users) or as a percentage of end outcome's value is recommend. Note: If there is a Product-to-Person interaction where the product is consumed, then pricing based on units consumed is recommended.
      • Common examples include Media Subscriptions, SaaS Seats.
      • Common consumption examples include Utilities, Food, Gasoline.
    • Product-to-Product Offering - where the value is derived from a system performing an action by engaging with another system - pricing based on usage, events, or as a percentage of end outcome's value is recommend.
      • Common examples include Credits for AI Model Usage, Payment Processing Fees.
  • Bundle for simplicity,

    • Your Product is the smallest logical unit you would offer / sell to a customer.
      • Often these are a license, a seat, a credit.
      • These could be connected to entitlements to dynamically activate product functionality
    • Your Offering (or Bundle) is what a customer is buying and is the collection of all the products / features they can actually paying for.
      • If someone can buy a product directly it is also an Offering
      • If someone can only buy a product when a part of something bigger (e.g. Support with a Product) then it is only available as a Bundled Offering
    • Your Rates should only represent different prices or payment frequencies for the exact same functionality / bundle / products.
      • Most common would be Monthly vs. Annual Pricing.

    As a rule of thumb:

    • If your quote is repeating a lot of words or descriptions, your product catalog is likely too detailed.
    • If your quote is unclear as to what the customer actually purchased, your product catalog is likely too vague.

b. Upload products, bundles, and pricing into MonetizeNow Product Catalog

Once your product catalog is set strategically, follow our step-by-step guide to code-up your catalog into MonetizeNow.