Why usage-based pricing is key to growing revenue

February 14, 2023

FEI Daily: February 14, 2023

Have you been hearing more and more about usage-based pricing (aka UBP)? That may be because 2022 was the year of uncertainty for many consumers and businesses. The effects of the pandemic were finally retreating, companies shifted to hybrid work environments, the economy was unstable, and consumers and businesses alike faced a looming recession. It’s no surprise that consumer habits changed (and continue to do so) as markets fluctuate. In fact, nearly half of adults over 18 transferred their buying habits from “want” to “need” and 33% became more budget conscious.

While consumer habits are changing, the financial systems businesses use to manage, sell and bill their products haven’t kept pace. This technology deficit, along with challenging economic conditions, has put businesses under more pressure than ever before to ensure they’re being efficient in their spending to alleviate the financial impact of the past few challenging years. One way they’ve adjusted is…

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