All your questions about mentorship, answered

How can a pricing strategy mentor help me?

Pricing is one of those areas that everyone seems to think an educated guess is enough. Early stage companies merely look to their competitors and determine what the market will tolerate. Even some mid- and late-stage companies lower and raise prices without much clear logic behind it.

But a guess is not a strategy. And you quite literally can’t afford to play around when it comes to your pricing strategy.

Fortunately, pricing strategy can be learned. The theory, research, and the necessary calculations could all be covered in a course.

The rubber only hits the road, however, once you apply it. And that’s when you may start second-guessing yourself.

But a pricing strategy mentor can give you one major thing: peace of mind.

Unlike courses where the advice is generalized and you have to make an informed guess about how to apply it, a pricing strategy mentor can give you targeted advice tailored to your company’s needs.

They’ll examine your company’s product, your marketing strategy, your business goals, and your current pricing strategy, then walk you through exactly what you need to do to make positive, revenue-boosting changes.

Because these mentors have designed pricing strategies for hundreds of other companies over their careers, they have the experience and industry understanding to separate good strategies from bad ones.

And a mentor will take a “done with you” approach, explaining every part of their thought process and why they’ve made certain decisions. They won’t just help you build a single pricing strategy. They’ll help you understand how pricing strategies work so you can build your own and make calls on future pricing changes.

When should I talk to a pricing strategy mentor?

The answer here is very easy: if you’re considering a pricing change, you need to talk to a pricing strategy mentor.

Without that expert insight and experienced opinion, you’re just gambling.

No matter what maturity stage your company is at, what kind of product you sell, or how your current pricing model works, you should talk to a pricing strategy mentor before touching a single digit on the pricing page.

Your pricing strategy mentor can help you:

  • Recognize insights from research to determine the best pricing strategy for your audience
  • Reality-check your new price points or tiers against price sensitivity research
  • Design a detailed plan to roll out your new pricing
  • Ensure your pricing is updated and consistent across all your channels and platforms
  • Address customer questions and concerns about new pricing models

Which means you can stop leaving your pricing strategy up to chance and informed guesses. 

Why should I talk to a mentor rather than just take a course?

Courses and blog articles can teach you best practices for pricing strategy. But, they won’t answer questions like: “is this the right pricing model for our product?”

For that, you need someone with experience.

Our mentors aren’t fluffy theorists. They’ve been in the trenches and been hands-on with the work. They’ve seen fantastic successes, spectacular failures, and everything in-between. They know what works and what doesn’t.

So, you could spend hundreds of hours reading articles, taking courses, and testing out random pricing strategies.

Or you could shortcut all the frustration by talking to a mentor who has walked the path before. And thus get the confidence your pricing strategy is on the right track.

Why should I trust GrowthMentor’s mentors?

Excellent question. After all, the “mentorship” world is full of high-priced consultants, armchair analysts who have never done the work themselves, and outright snake-oil salesmen looking to make a quick buck.

But, there are plenty of experts out there who want to share their experience and knowledge. At GrowthMentor, we’re lucky to have 700+ of those experts.

The secret comes from our vetting process. We not only double-vet all of our mentors so only the top 3% makes it through our process, we also look at their soft skills. Because no one wants a mentor who’s a snob or a jerk.

On top of it, 85% of our mentors don’t charge an extra fee. Why?

The short answer: Because they want to help people.

The long answer is because…

  • They enjoy sharing their knowledge
  • They learn from their mentees
  • They want to be a “force for good” in the business world
  • They want to pay it forward

But don’t just trust our word on it. Hear from the mentors themselves.