Title: Work-Bench Enterprise Masterclass on Pricing a Seed Product

Step-by-Step Tutorial:

1. Introduction to the Masterclass:

   • The video starts with an introduction to the Work-Bench Enterprise Masterclass on pricing a seed product. The speaker, Rob, shares his experience and background in pricing strategies.

2. Understanding Market Positioning:

   • Rob emphasizes the importance of understanding where your product stands in the marketplace before setting pricing. Determine if you are in a red ocean (competitive market) or blue ocean (less competition) scenario.

3. Segmenting Customers:

   • Rob explains the concept of categorizing customers into "whales," "tunas," and "minnows," based on their size and buying process. Tailoring pricing strategies for each customer segment is crucial.

4. Competitor Analysis:

   • Analyze competitors' pricing strategies to identify opportunities. Rob shares an example where they capitalized on a competitor's complex pricing structure to offer a simpler pricing model.

5. Building Financial Models:

   • Develop financial models and pricing worksheets to negotiate prices effectively. Understand the long-term value of customers (LTV) and customer acquisition costs (CAC) to optimize pricing strategies.

6. Pricing Page Optimization:

   • Focus on the pricing page to highlight key features and differentiate your product. Use pricing tiers effectively to guide customers towards desired features and value propositions.

7. Handling Discounts and Negotiations:

   • Implement a structured approach to offering discounts, ensuring they align with the value provided. Use discounts strategically to close deals and position for future expansions.

8. Global Pricing Strategies:

   • Consider global pricing strategies based on economic development levels. Avoid unnecessary complexity in pricing for different countries but offer tiered pricing for flexibility.

9. Iterative Pricing Approach:

   • Continuously iterate on pricing strategies based on customer feedback and market dynamics. Engage with customers to test different pricing models and evaluate responses.

10. Customer Relationship Building:

    • Build personal relationships with early customers to deeply understand their needs and pricing preferences. Tailor pricing options to align with customer approval processes and decision-making hierarchies.

11. Final Thoughts and Anecdotes:

    • Rob concludes the masterclass with a personal anecdote on how effective pricing strategies can lead to successful customer acquisitions and business growth.

12. Outro and Future Opportunities:

    • The masterclass ends with a call to action for viewers to connect with Rob on social media for further discussions. Information about upcoming masterclasses and resources is provided for continued learning.

By following these steps, you can gain valuable insights into pricing strategies for seed products and apply them effectively to optimize revenue and customer relationships.