What goes into creating high-converting SaaS pricing pages? What updates should be prioritized when looking at your own SaaS pricing page?
We studied 30 of the fastest growing SaaS companies from the SaaS 1000 list to see what they are (and aren’t) doing with their pricing pages.
Before we jump into the results, let’s break down what we were looking for during the research process:
Research Questions & Our Predictions
- Do they offer both monthly and annual payment options? If so, which option is the default?
We wanted to see how common it is for SaaS companies to offer both payment options and which of the two they showcase first.
- Do they have a live chat app on their pricing page?
Live chat apps like Drift and Intercom are increasingly popular, so we wanted to see how many fast-growing SaaS companies have adopted some form of live chat on their pricing pages.
- Does their pricing page include testimonials and client logos?
When considering a purchase, 88% of consumers trust online reviews as much as they trust personal recommendations, and 72% say positive reviews and testimonials make them trust a business more.
Social proof has a positive impact on conversion.
- Do they offer an enterprise plan? If so, do they show a price?
We wanted to find out how many fast-growing SaaS companies offer a flexible enterprise plan and whether they advertise a starting price.
- Do they offer multi-axis pricing?
Does their price scale based on multiple factors (e.g., features and user count) or is it one-dimensional (e.g., the only difference between plans is the number of features)?
Now that you know what we were looking for…
Let’s talk results and key findings!
Key Findings & Results
1. Just 16% of SaaS companies offer both monthly and annual plans
Of the 30 pricing pages we studied, only five offer both monthly and annual payment options—and all five have the annual plan selected by default.
What does this mean?
Not surprisingly, SaaS companies that offer both payment schedules push the annual one. That aspect of the results was a no-brainer to us. Why?
With an annual plan, SaaS companies are able to get more cash in the bank up front, and customers typically get a discounted price. It’s a win-win if the customer is willing to commit.
The surprising finding for us was how few companies actually offer a choice between monthly and annual.
Of course, a sample size of 30 means we can’t universally say that only 1 in 5 SaaS companies offer monthly and annual plans, but the fact that 30 of the fastest growing SaaS companies don’t offer both is definitely a trend to keep an eye on.
2. 60% of SaaS pricing pages use live chat
What does this mean?
In SaaS, pricing page visits are incredibly valuable.
If someone is on your pricing page, they’re showing an interest in buying. Of course not every pricing page visitor is going to convert, but your pricing page is likely one of the highest converting pages on your website.
Here’s what you should be asking yourself:
How can I make it as painless as possible for someone to convert?
Whether it be requesting a demo, starting a trial, purchasing, or just contacting sales—the easier you make it for visitors to take action, the better.
Providing a live chat feature that displays a message like the one above (from appcues.com) is a great way to invite your visitors to make that first contact and get their questions answered in real time.
If they can’t easily find the answers to their questions about your product, they are more likely to bounce and never come back.
3. Only 33% of SaaS pricing pages have testimonials
Of the 30 SaaS pricing pages we studied, only 10 featured any testimonials and only 13 displayed the logos of existing customers.
What does this mean?
It means 20 SaaS companies are leaving serious money on the table.
One of the most influential conversion factors in every area of online sales is social proof. Testimonials, reviews, case studies, trust icons … anything that shows other people happily using the product.
If someone is considering buying, social proof can only strengthen your case.
Testimonials and client logos won’t singlehandedly turn a poor pricing page into a money-making machine, but they won’t hurt your conversions either—so why not?
4. 80% of pages do not show a price for their enterprise plan
Of the 30 SaaS companies studied, 24 offer an enterprise plan. But only four of those list a price on their pricing pages, meaning the other 20 ask visitors to contact them for more info.
What does this mean?
Most SaaS companies are trying to get enterprise leads in touch with sales directly, as soon as possible. It’s understandable—as the opportunity size climbs, you want your sales team to become more involved. Using a “contact us” call-to-action is the easiest way to accomplish that.
But here’s the thing:
If you’re using “Contact Us” as the call to action for your enterprise plan, your sales team is going to end up spending hours on end creating proposals from scratch for leads that aren’t the most qualified.
And after sending those proposals, your team will be left in the dark.
- Does your lead have questions?
- Did they choose someone else?
- Is the price too high? Too low?
If you do hear back, prepare for lots of back and forth that takes even more time—all to possibly close a deal.
There’s a better way.
Instead of solely relying on the old-school, manual follow-up & proposal development method, SaaS companies can deliver interactive pricing proposals for leads quickly and tailored to their needs using SalesRight:
Now your sales team can empower prospects to pick the prices and features that work best for them. In addition, the experience prospects have with the pricing guide will give your sales team analytics and data they can use to ensure that their follow ups and future interactions are smart ones.
5. 50% of SaaS companies offer multi-axis pricing
Of the 30 pricing pages studied, 15 offer some form of multi-axis pricing like a per-user price at each plan level.
What does this mean?
Without offering a way for users to scale their current plan based on something other than features, SaaS companies are missing out on revenue.
If the only difference between a Pro plan and a Business plan is which features the client can access, there’s no way to increase the average revenue per user as the client scales their own company.
Let’s use Appcues as an example.
Here is the price for their standard plan if you have 10,000–20,000 active users:
But as your monthly active users climb and you need more usage, the price for the standard plan increases as well:
If Appcues only offered one price for their standard plan regardless of usage, the only way for them to increase revenue as their clients scaled would be to convince clients to upgrade to an enterprise plan.
Sure, some users may want to make the jump to enterprise for the extra features, but the simpler it is for users to scale up their current plan, the better.
Wrapping Up: SaaS Pricing Pages Key Findings
This research indicates three clear take-aways that should be considered when building SaaS pricing pages:
- Integrate a live chat option to improve prospect’s buying experience
- If you’re not using testimonials, reviews and ratings, start now!
- Update your enterprise sales strategy so it reflects the same buying experience as your saas pricing page
The first two take-aways are straightforward to tackle: find widgets or integrations that your website can support to update your sales experience. Updating your enterprise sales strategy is a totally different hurdle to tackle…
The best method to approach updating your enteprise sales strategy is to find a SaaS tool designed to handle the intricacies of enterprise SaaS deals and pricing. The right tool should fit seamlessly into your current sales process and provide the same buying experience for prospects as they would have when using your self-serve pricing page.
As outlined in point four, SalesRight is a tool designed specifically for enterprise SaaS deals. It is a great compliment to SaaS pricing pages, as it provides prospects with the same buying experience as a self-serve page offers while empowering sales reps to close deals quicker.
Click here to learn more about how SalesRight is assisting SaaS companies in their sales processes by doubling conversion rates and saving 10+ hours a month on preparation time.