LiveSession is a fantastic analytics software that helps you analyze users'' behavior, improve UX, find bugs, and increase conversion rates using session replays and event-based product analytics. We know many tools, but we reckon it is one of the best in this market segment. There are session replays, click and heat maps, and funnels, among its core features. The UX is outstanding, and customer support is best-in-class.
"What we have introduced with your help had positive impact. Increasing the prices and migrating some customers to higher plans accounts for roughly 30% of the MRR increase. The migration rate of 87% indicates that the previous price of our cheapest plan was not in line with the value that customers see. We have increased the ARPU and managed to add some more MRR at the new price. We aim to abandon the lowest plan as we see we can position ourselves as a more premium product. We will do more pricing initiatives in the future. Thank you for your work – your analyses helped me make the right decisions regarding pricing and client up-sell."
LiveSession approached Valueships with their thorough pricing change plan. They requested us to critically assess the new plan to ensure that we could implement it. It was also critical to double down on the safety of pricing changes. Being good, UX-friendly, and functional product didn't translate to the MRR potential of the company. The initial hypothesis suggested that the value was substantially higher than the asking price. However, LiveSession operates in a highly competitive product category, so the challenge was not trivial.
The main objective was to positively impact ARPU with changes in service pricing without losing the competitive positioning.
We began with a deep dive into internal client data and competition scan. We have analyzed the competitive space. LiveSession has a very good NPS compared to the overall perceived value ratio and ROI payback of the product. We use it at Valueships as a strong indicator of the potential price increase.
+30% MRR increase
+87% upsell rate from the cheapest to the higher plan
0% churn increase
4 weeks time-to-market
1 Engagement Manager + Data Analyst: