Franziska: Hi and welcome back! I’ve just been working on a pricing model for one of our members, a SaaS company – software as a service company, one of our Clever Bunch members, and I’ve got a few insights here that I wanted to share with you and that is to look at a tiered pricing model for your own business and generally, tiered pricing definitely works really well for software companies, but can also be applied to any other~ especially service-based businesses but also products. I’m going to share with you some examples here from our own members. And the reason why tiered pricing is something to look at and can be very useful for you is because if you have different prices, you will appeal to a wider audience and also, it can give you a great opportunity to upsell, if somebody’s joining on a lower level, it will be a great opportunity for people to then upgrade to the next level. And of course, also it’s just a better customer experience if you have different levels to pick from. Now as I mentioned before, this works really well for software as a service business and you would have seen these examples big time. Let’s say I have a few examples here, if you go to the software that we use and recommend here for our CRM is Ontraport, you will see three or four different offerings and then depending on the price level, you get more features, so of course the more you pay, the more features you get. You see it in~ let’s see what else I’ve got here… airlines actually— airlines, when you book a flight with most airlines, they will also give you a tiered option. Do you want to pay this much, this much, or this much, depending on how much extra stuff you want, like luggage or choose your seat, etc., meals; so that’s also a tiered pricing model for people to pick, what do they want, and there will always be… generally with a tiered model if you have three tiers, generally people will go for the middle one, but there will always be people that will pick the high-end offer or the lower end. But the majority will go for the middle one, so when you do your tiers make sure that the one that you want to sell is the middle one. Also with car sales, of course, a product you see that too, where you can get the basic model, and then more and more pimped up models. Again, these are different tiers of prices that different customers will feel attracted to. With us here at Basic Bananas, we also have the Clever Bunch and then we have the Clever Bunch premium which includes also working with our branding agency here, with The Business Hood, for example, another service-based business so our branding agency, we always offer at least two, sometimes three tiers, when we put together proposals for clients, so clients come to us and they generally want to be the number one in the industry, or they want to get a rebrand, and we often give them two, at least two, sometimes three different options how we work with them, and depending on how much they want us to do with them. So as you can see, it really works for most businesses mainly service, but you can also do it in a product like I mentioned, the car example, so ask yourself if and how you can apply this model, a different pricing model to your business, it can make a huge difference in a business, so I would revisit your own pricing model. And secondly, also make sure that when you do offer different tiers, give them great names and give them names that will reflect the level that they’re on and preferably a name that also ties into your brand. For us, as you know Basic Bananas, we have Clever Bunch, we have Genius Bunch, so these are all names that tie into our brand and that’s something that I would recommend that you do too. That’s it for now, if you would love to find out more or receive more of our gold nuggets here make sure you subscribe to our YouTube channel, if you would love to come to a workshop or if you would love to apply for the Clever Bunch, you can get in touch with us just email us: [email protected] or go to the website then you can find all the information there too. Thanks again for visiting us here and saying hi, we do love to hear from you. Thanks again, bye, see you next time!