Pricing is a challenging task, especially for online services. BLOOM has helped Magnet.me in addressing this challenge for their successful platform.
Magnet.me facilitates direct contact between job seekers and companies. With 11.000 registered university students, Magnet.me is becoming the most important platform for employers to connect with the brightest candidates in the Netherlands. It appeals to a broad group of companies: both large multinationals and niche companies (like BLOOM) use the site. Since its launch in 2012, Magnet.me has attracted more than 350 high-profile employers to its platform and this number is growing daily. The refreshing approach of the young founders has already been awarded with winning the Flex Innovation Fund.
There are several relevant considerations when setting prices for features. Is the focus on market growth or on profit maximalisation? How can one price based on costs, competition and value for customers? Where to draw the line between free and paid? And, what payment model is the best choice?
With support of BLOOM, Magnet.me finetuned their proposition and determined a new pricing structure. With a data-driven and structured approach the team determined a new pricing that reflects the growth ambitions of the company and matches the value for its customers. With the new proposition and pricing, a solid foundation for a bright future for Magnet.me has been laid.
“Working with the BLOOM team on our pricing strategy was a great experience. We were impressed by their hands-on experience and profound analyses, that delivered practically useful results for our next growth phase.” – Vincent Karremans, CEO Magnet.me