4 | Software and Technology Awards 2021 Aug22649 Best Global Monetization Consulting Firm 2022 In 2021, Monevate was created to offer fast-growing tech companies specialized expertise in pricing strategy and monetization. Led by Founder and Managing Partner, James Wilton, the firm quickly established a growing portfolio of fast-growing clients at all scales. While it’s a niche area, centered on pricing strategy and monetization, it’s vital to every business and therefore, its client base is broad. It serves both B2C and B2B (any customer from SMB to enterprises), and all XaaS (anything as a service) verticals within those spaces, including fintech, healthtech, and martech. Since its inception less than 18 months ago, Monevate has spectacularly grown to $3.5m revenue annually. onevate’s mission is to help growth stage tech companies capture a fair portion of the value they create for customers through innovative and robust monetization strategies. By offering a personable and boutique-style approach with world-class expertise and customized, practical solutions in pricing and monetization, Monevate has made best-in-class consulting support affordable to start-ups. Many firms that service smaller companies do so by offering templatized solutions, or multi-staffing personnel, all of which result in a lower quality answer. Monevate’s philosophy is to provide to its growth stage clients the same highly tailored, high quality pricing solutions that the premier consulting firms provide to enterprises. The way Monevate does this is by employing a team of top industry talent from firms like McKinsey and Accenture who are excellent problem solvers and masters of bespoke solutioning, and by reinforcing the core value of ‘quality’. It also focuses on driving creativity, always coming up with at least ‘one crazy idea’, in addition to the more obvious solutions, to make sure it is really pushing the client’s thinking. Then, it leans into the BPA (Best Pragmatic Answer) which is the best theoretical answer that can be practically implemented by the client within their timeline. Finally, it builds distinctive experience in pricing monetization at all levels of the organization, not just the leadership. Indeed, James and his team are ambitious and passionate about what they do. But James didn’t discover his true passion for pricing and monetization until later in his career. He began his consulting career at ZS Associates in 2004, and then moved to A.T.Kearney upon finishing his MBA at Columbia Business School. In 2012, faced with the challenges of traveling 4 days a week while raising a young family, he took a conversation with a recruiter inviting him to join an internal consulting team at RELX (then Reed Elsevier) that offered a much better work-life balance. The work focused on strategic pricing, a subject area which interested James, but with which he had no prior experience. James took the plunge and found building pricing strategies for RELX’s content and tech portfolio to be truly fascinating. He was hooked! After spending four years at RELX and being promoted to the team’s lead, he decided he wanted to return to external consulting, but to focus on pricing and monetization for tech companies. After building a pricing practice at SBI he joined McKinsey – one of the world’s largest, most prestigious consulting firms – as the lead of the pricing service line for Fuel, McKinsey’s practice for startups and fast-growing XaaS companies. Through this experience The high-quality approach that McKinsey took to engagements resonated with James, and moreover, he found that that he truly loved serving growth-stage clients. Although James and his teams did great work for some exciting clients at McKinsey, he was frustrated that the firm lost the opportunity to serve many clients because its value-based fees were significantly higher than the nearest competitor. He realized that while McKinsey is an exemplary firm, it is not the best place to be if your passion is working with smaller companies. Equally, he realized that these smaller companies really didn’t have options for pricing consulting partners that were both high quality and economically-viable and saw an opportunity to fill that gap for these exciting clients. Thus, he established Monevate, a consulting firm that provides bestin-class pricing and monetization support to growing tech and XaaS companies. Ultimately, Monevate wants to become the first firm that start-up and growth tech firm CEOs think of when they hear the words “pricing strategy” and “monetization”. Now, James and his team see the opportunity to increase the company’s size 10X by 2027 as they strive for Monevate to become the go-to provider in this space, and we are truly rooting for their continued success. Company: Monevate Contact: James Wilton, Founder and Managing Partner Email: [email protected] Website: www.monevate.com M
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