Pricing methodologies in the healthcare industry are replete with critics, so-called “experts”, occasional wins, and myriad failed approaches. In fact, we typically have to price a product before we fully understand its value to the marketplace. This leads to mis-pricing, rebates, bundles, crazy price increases (think, Turing Pharmaceuticals and Daraprim pricing debacle), and different prices for different distribution lines. All of these create ill-will toward the company.
I’d like to be better at pricing. I bet you would too!
What if you could ascertain the value of your product, in real-time?
At HealthEconomics.Com, we have spent the better part of 30 years involved in pharmaceutical pricing research and dialogue. However, we have never seen a pricing methodology called “Bumpsale” applied in our field. Bumpsale pricing allows one to sell something, and after each purchase, the price increases by an amount the seller chooses. That is, the price “bumps” after each purchase. The price can max out at a ceiling set by the seller, or keep going until it reaches its perceived value maximum by purchasers. As a researcher, I find this methodology absolutely fascinating because it allows marketers to understand the supply-demand-price triad in a real-world environment.
Now hold on. I’m certainly not suggesting a Bumpsale pricing methodology for a pharmaceutical product. But, Bumpsale pricing is perfect for digital products, and according to some who have used it, Bumpsales can be a “game changer” that create the “perfect storm for urgency pricing”. I came across this methodology because I follow this uber-creative dude, Jason Zook, the founder and creater ofBumpsale.co. Bumpsale.co is currently in closed beta testing, but you can get on the waiting list by visiting http://bumpsale.co/.
So, how is HealthEconomics.Com using Bumpsale?
We are launching a Bumpsale tonight, December 1, 2015 at 12 Midnight ET with incremental pricing starting at just $1 on our Recruiter Booths for our upcoming Online Career Fair for HEOR & Market Access.
At 12 midnight ET tonight (as soon as the clock ticks over to December 1 ET), a recruiter can purchase an online booth for just $1, and then the price “bumps” $99 with the 2nd company paying $100 for their recruiting booth, the 3rd $199 and on and on and on. The price continues to bump until it reaches our maximum booth price of $1,486, after the 16th purchaser. All future booths will be sold at a comparative maximum amount ($1,500) until 20 exhibitor booths are sold. We know that this $1,500 value is appropriate because this was our maximum booth purchase price in a July 2016 Online Career Fair.
So, why are we testing Bumpsale? Because we believe that we will generate more recruiter booth purchases – faster – which makes for a more valuable Online Career Fair for job-seekers, and ultimately generates greater revenue for the event. That’s a win-win in this HEOR and Market Access field where hiring is expected to double in 2016!
Why should my company take part in the HealthEconomics.Com Online Career Fair event that is scheduled for January 20, 2016 10am-2pm ET? Our last event drew over 400 applicants, with an average of 10 years of experience! Job-seekers were from all over the globe, but none of you (the interviewer or the interviewee) had to leave your office (or even get dressed!).
Join our HEOR & Market Access Online Career Fair:
- Meet with hundreds of experienced, qualified candidates, prioritize them, and set follow-up appointments—right from your computer!
- Easy, effective, efficient recruiting and interviewing
- Enhance your brand by giving candidates access to your company
Fill your pipeline and hire top talent (as an exhibitor you will receive the registration information for ALL attendees)
The earlier you join the MORE EXPOSURE for your company, so make sure you sign-up on DECEMBER 1ST! The sale starts at midnight, with Booths starting at $1.
Job-seekers: sign up here. It’s completely free for you!
This Global Career Fair for HEOR & Market Access will connect you directly with employers with open career opportunities from the comfort of your home, office, smartphone or tablet.
As an attendee, you have the ability to explore employer information and opportunities. Choose which employers you want to interact with and then engage in one-on-one text-based conversations directly with a recruiter at those organizations. You can share your background, experience, resume and ask questions. Maximize your time in the event by getting in line to chat with representatives from more than one company at a time.
This Global Career Fair for HEOR & Market Access connects you in real time with employers seeking to recruit top talent for jobs located aound the world in the areas of HEOR, Market Access, Real World Evidence, Medical Affairs, Clinical Research Operations, Health Policy, Business Development, or related areas.
Who should attend:
- Professionals seeking new career opportunities or exploring career options
- Professionals who are ready to begin their careers
- Professionals seeking to learn more about the various global opportunities
So, stay tuned for the results of our Bumpsale experiment to sell Recruiter Booths starting December 1, 12am Midnight ET, and our upcoming Global Career Fair for HEOR & Market Access scheduled for January 20, 2016, 10am-2pm ET.
I’m excited to be part of the adventure, the experiment, and to push our business model forward with creative methodologies. Join us, won’t you?
If you want to learn more about our creative business strategies and ways we can help your company differentiate itself, contact me, Dr. Patti Peeples,email@example.com. I’d love to learn about your business and challenges.