Revamping MikMak's Pricing Strategy: The Top 3 Areas for Improvement in 2023

MikMak has established itself as a leading global platform for eCommerce acceleration, offering valuable insights and enablement software to brands navigating the online marketplace. However, even the most innovative companies must continually adapt to meet the evolving needs and expectations of their customers. Based on recent reviews from 2023, here are the three biggest areas where MikMak could improve its pricing model to better serve its clients.

1. Transparent and Flexible Pricing Tiers

Customers have expressed a desire for more clarity and flexibility in MikMak's pricing structure. A review from a mid-sized CPG company mentioned, While the insights provided are invaluable, we often find ourselves constrained by the rigid pricing tiers. A more transparent and customizable approach would allow us to scale services to our needs. To address this, MikMak could introduce a more granular pricing model that allows clients to select and pay for only the features they need, rather than bundling them into fixed tiers. This a la carte pricing could be particularly beneficial for smaller brands with limited budgets or those who require specific functionalities.

2. Competitive Benchmarking and Value Proposition

Several reviews have pointed out that while MikMak's services are top-notch, the pricing seems steep when compared to competitors. One customer stated, The platform is fantastic, but I'm not sure the cost is justified when I look at what others in the market are offering. MikMak should conduct a thorough competitive analysis to ensure its pricing is in line with the value delivered. This might involve adjusting rates or enhancing the unique selling propositions of their services to justify the premium pricing. Additionally, providing case studies that demonstrate ROI could help potential clients understand the value they're getting for their investment.

3. Clarity on ROI and Attribution Models

Customers are looking for clear evidence of return on investment (ROI) when they commit to a service, especially one that's positioned at a premium. A review from a large retailer highlighted, We've seen some improvement in our online sales, but attributing it directly to MikMak's services versus our other marketing efforts is challenging. MikMak could improve by offering more robust attribution models and clearer reporting that directly links their services to sales outcomes. This would help clients feel more confident in their investment and understand how MikMak contributes to their bottom line.

By addressing these three areas—transparent pricing tiers, competitive benchmarking, and clear ROI attribution—MikMak can refine its pricing model to better meet the needs of its diverse client base and reinforce its position as a leader in the eCommerce acceleration space.

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