Revamping's Pricing Strategy: Three Key Areas for Improvement Based on Customer Feedback

In the competitive landscape of video surveillance and physical security software, has been a notable player. However, as with any business, there is always room for improvement, especially when it comes to pricing models. Based on recent customer reviews from 2023, we've identified three major areas where could enhance its pricing strategy to better meet the needs of its users and stay competitive in the market.

1. Transparent and Flexible Pricing Tiers

Customers often express frustration when pricing structures are opaque or inflexible. For, creating clear, scalable pricing tiers that cater to different business sizes and needs could be a significant improvement. A small business owner shared, We were interested in, but the pricing seemed geared towards larger enterprises. We couldn't find a plan that fit our modest requirements without feeling like we were overpaying.

Recommendation: should consider introducing a transparent tiered pricing model that allows customers to easily understand what they are paying for and find a plan that matches their specific needs. This could include a small business-friendly tier with essential features at a lower cost.

2. Cost-Effective Licensing Options

Another common concern among customers is the cost of licensing, particularly when it comes to scaling their operations. A security manager from a mid-sized company mentioned, As we expanded our surveillance coverage, the licensing costs with grew exponentially, making it less cost-effective than some of its competitors.

Recommendation: To address this, could offer bulk licensing discounts or bundle deals that provide better value as customers scale up. This would encourage customer loyalty and make the platform more attractive to growing businesses.

3. Value Proposition Clarity

Customers are more likely to invest in a product when they perceive it as a good value for their money. However, if the benefits are not clearly communicated in relation to the cost, customers may hesitate. An enterprise client stated, We found's features impressive, but it was challenging to justify the investment when we couldn't clearly see the ROI compared to other solutions.

Recommendation: should focus on enhancing the clarity of its value proposition by highlighting unique features, customer success stories, and potential ROI in its pricing communication. This could involve detailed case studies or a cost-benefit analysis tool that helps prospects understand the long-term savings and advantages of choosing over alternatives.

By addressing these three areas—transparent and flexible pricing tiers, cost-effective licensing options, and clear value proposition communication— can improve its pricing model to better align with customer expectations and market demands. This will not only help retain existing customers but also attract new ones who are looking for a video surveillance solution that offers clear benefits and a pricing structure that makes sense for their business.

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