How to launch the platform

We've developed a guide on how most customers have gone about launching the platform within their current business models.

Three models:

Pay as you go therapy

New retainer/subscription

Upsold as a bolt on product

Pay as you go therapy only, with no access fee charged to customers

Our base therapy session cost is £45 per therapy session and its pay as you go. Whatever you choose to price on top of that base cost you keep. For example:

Base cost is £45

You set therapy session at £60

You make £15 per session

This typically makes sense as a retention tool as you are seen to be providing a valuable new service to end users.

Benefits

Absorb our monthly managed service fee and provide access to your platform for “free” as a retention tool

A great way to demonstrate added value to existing customers

Generate revenue from therapy sessions only

Small cost to retain customers over a longer period of time and hopefully retain that revenue

Case Study

Pay as you go therapy only

Evolve HR

Evolve HR are an HR consultancy that provides HR retained services to SMES across Northern Ireland.

Problem

Evolve HR’s strategy is customer retention with a high quality service. They saw many customers with mental health and wellbeing challenges, especially around anxiety and long term absence. To meet this need, they would often advise and refer customers to EAP’s

We approached them through a referral to help them increase the value of their retainers whilst improving the mental health of their customers.

Solution

Paranimo created a Evolve HR branded therapy platform they could provide to their customers on a pay as you go only basis. This strategy is being used to focus on customer retention by providing yet another benefit for being a Evolve HR customer.

Result

Selling therapy sessions at £50 a session - making £5 commission and released the solution at Christmas as a relationship boost for their existing customers

As part of a new retainer package or subscription

You can add the platform as part of a subscription or retainer you already offer and add a price increase to generate new revenue.

Benefits

Include your therapy platform within a new retainer package, or add value to an existing one.

Increase the price of this new retain due to the inclusion of your new platform

Generate additional revenue from both the therapy sessions AND increased retainer price

Implementation alternative

Increase the package a renewal and offer as a stand alone product at slightly higher price until then

How to price

Here's a hypothetical situation where you can work out a sensible price to charge.

Let's say you have 40 customers and 50% of them are subscription or retainer payers.

Base Cost

You're paying Paranimo £150 a month for the platform.

Break even at £7.5/month

£150 divided by the 20 businesses paying subscription/retainer.

Make a profit by charging £15/month

Add whatever mark up you want on top of that break even cost.

Then add a bit more for the cost of a stand alone product (£25/month) and add the cheaper option into renewals.

Case Study

As part of a new retainer or subscription

SYLO Beyond HR

SYLO HR are a growing HR consultancy in Oxford that were seeing demand from their clients for mental health support.

Problem

Their current model was a referral to Employee Assistance Programs that was leaving customers with an unhappy service and SYLO with lost revenue potential.

Solution

SYLO partnered with Paranimo to provide their own mental health therapy platform to customers. SYLO are including our solution as part of a premium retainer package to attract customers, as well as providing as an employee benefit to their staff.

Result

SYLO are currently seeing their staff and customers book their first sessions through the platform. Rather than the advise and referral model typically used in HR consulting, SYLO now advising and providing support.

Increased value of retainer
Provide therapy sessions at £70 - making £25 commission per session

Upsold as a bolt on product

Benefits

Charge customers to use your product as a bolt on service

More flexible approach from a customers perspective

Generate additional revenue from both the therapy sessions AND monthly / annual access fee for platform

Selling as a bolt on service may not be as easy to sell compared with including as part of a retainer package, given you are upselling a service, rather than including within a retainer package so easier to blend within them.

This works best where you are selling it as a premium addon to their existing EAP solution.
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Other options include selling as part of project work or framing it as part of service for business with specific needs.

Case Study

Upsold as a bolt on product

Benefiz

Benefiz are a leading UK employee benefits provider, using their vast network and experience to create tailored benefits packages for SME’s.

Problem

Benefiz would often provide EAP’s as part of an employee benefits package to customers, yet some customers found the low utilisation and poor mental health outcomes unsuitable for their business. This lead to Benefiz seeking a solution that would provide better therapeutic outcomes for their customers, as well as a new revenue generating opportunity for them.

Solution

Paranimo created a Benefiz branded therapy platform they could sell to customers within their benefits package, that was accessible via the Benefiz benefits portal - thus integrating easily into their current business model. They charge customers an annual access fee to access the product.

Result

Increased the value of their annual benefits packages via upselling of their platform
Selling therapy sessions at £45 a session

Continue to learning the sales process

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