From concept to reality: Pricing strategies to bring an innovative B2B technology to market

Innovative, immersive new technologies are transforming our day-to-day lives. But as well as taking years to develop, test, and refine, these technologies can be tricky to bring to market. Are users ready, and willing, to adopt these new technologies? And then the age-old conundrum: how much are they willing to pay?

These are all integral pieces of a successful go-to-market (GTM) strategy. There are countless examples of solid pieces of technology that were simply pitched too early, too late, or at the wrong price point, and therefore failed to resonate with the desired end users. Our client wanted to avoid those obstacles before they arose – and commissioned us to assist in their mission-critical journey to market.

Positioning for GTM success

Having spent years refining a revolutionary new B2B technology, a world-leading tech powerhouse felt ready to transition a product from concept to reality. But first, they needed to understand those vital considerations we mentioned: pricing, usage, and the current deployment landscape.

Following a series of consultations and evaluations, our Consumer & End User Insights team mapped out the best route forward. So began an intensive field study, involving extensive end-user market research, to help our client fringe their product ever closer to market.

Here’s what we did:

• Interviewed 1600+ decision-makers and influencers across the three key markets, targeting medium-large organisations to ensure a relevant respondent base.
• Using Van Westendorp and Gabor Granger pricing models, we determined optimal price points, pricing models and the end users’ willingness to pay across a complex blend of options.
• Compiled our findings which were then segmented by sector, job role, job level, and other key demographics.

Insights that breed action

By targeting the right mix of end users, we determined the client’s ideal customer and the optimal mix of products and services across both software and hardware.

We also gained a realistic assessment of how likely end users were to invest in the client’s radical new product – ultimately determining if the price, and the time, were right. Through our data-driven market research, we validated our client’s assumption that their product would be in higher demand as society evolved.

Our clear list of recommendations, fine-tuned to the client’s unique product and proposition, gave the client the tools for a successful market entry.

Ensuring the price is right for a GTM strategy

Pricing strategy is an integral consideration in conducting a successful product launch. It can be difficult to strike the balance between accessible pricing and how much the customer is truly willing to pay, but it can be achieved with careful market research.

To learn more about how our Consumer & End User Insights team can help your tech business, please fill out this short form and a member of the team will be in touch.

About the author

Olivia Lowden

Olivia Lowden is responsible for the long-form content, press, and partnerships at Futuresource. Prior to her career at Futuresource, she completed an MA in Creative Writing at the University of East Anglia, demonstrative of her lifelong love of words.