053: Optimizing Pricing Models to Scale to $175M in Sales with Mike Filsaime

Mike Filsaime is the CEO of Groove Digital, one of the fastest-growing software platforms for digital and e-commerce marketers. As an online marketing expert, educator, and consultant, Mike claims to have done more $1M launches than any other marketer in history. In this episode, Mike shares his journey from college dropout to launching, managing, and scaling SaaS companies that have done over $175M in sales. He talks about the pros and cons of different pricing strategies, his process for increasing the lifetime value of a customer, and how his approach to running companies has changed after multiple successful exits. You’ll also hear Mike’s “best tip” regarding products and offers, what he views as “the 2 most powerful things in marketing,” and his main focus when it comes to scaling. Key Takeaways with Mike Filsaime Lifetime access vs. ongoing subscription pricing and how each can affect the lifetime value of a customer. How does a consumer’s mindset change when buying a product vs. buying an offer? The value Mike sees in the freemium model and how to optimize it. The metric Mike is currently focused on for scaling. How Mike leverages and evaluates open-source platforms to make SaaS development easier. How marrying multiple pricing models can increase the lifetime value of a company. The equation Mike calculates when running paid ads. Mike’s early entry into the SaaS space and how he believes consumer preferences have changed as the space evolves. Weighing work against retirement and finding purpose after achieving financial goals. Subscribe to the Podcast We hope you enjoy this episode and that you find some golden nuggets within this interview. Trust us, it's there! If you want episodes delivered straight to your inbox, consider subscribing to the show and we'll email you each time a new episode is released! Thanks for tuning it & keep being awesome. BAM! 💥