With more than 200,000 customers and a valuation exceeding $1.5bn, there’s no denying that Loom has become one of the leading players in the video creation market, making it a tool worthy of consideration.
But with companies under immense pressure to minimize SaaS spend, getting the best possible price for your plan is no doubt a high priority.
So the question is, how much does Loom cost? And is it possible to get a discount on your subscription?
Here’s everything you need to know about Loom’s pricing.
How much does Loom cost?
While the company’s paid plans start from $8 per user, per month, Loom also offers a free, albeit limited, version of its software, as well as a more feature-rich free version for teachers at schools, universities and other educational institutions.
When it comes to pricing transparency, Loom is pretty forthcoming with its costs, but like many software vendors, it operates a quote-based pricing model for its enterprise-level subscription.
But what about the other plans? How much do they cost?
Loom pricing plans
To understand the different Loom pricing tiers, you first need to get to grips with the different user roles that are catered for – Creator and Creator Lite.
So, what’s the difference?
A Loom ‘Creator’ refers to a paying user that can enjoy full video-recording functionality, whereas ‘Creator Lite’ users are those that have free access to Loom’s basic feature set – 25 videos per person, each up to five minutes long.
Loom Starter
As mentioned, Loom’s free ‘Starter’ plan is suited for users with more limited deployment needs, offering basic recording capabilities for up to 50 Creator Lite users.
Loom Business
The standard paid Loom subscription is the Business plan, costing $8 per Creator per month when billed annually, or $10 when billed monthly. This tier offers advanced recording and analytics features for unlimited Creators, with the functionality to make an unlimited number of videos at any recording length.
Each paying Creator can also add up to 50 Creator Lite members to their workspace for free.
Loom Enterprise pricing
Loom’s enterprise-level subscription offers additional administrative and security features, suited to large organizations with many Creators. This plan offers everything from the Business tier in addition to further data policies, integration with Salesforce, and priority support with a dedicated account manager.
To obtain pricing for its Enterprise plan, companies are, however, required to get in contact with the Sales team for a quote that is tailored to their usage needs.
While this is the norm for most SaaS tools, it still poses a challenge for buyers like yourself looking to get a frame of reference on pricing, without having to engage in multiple sales conversations.
So, how can you find out what other companies are paying?
How to find out the cost of Loom Enterprise
One way is to source information by searching online.
An article from RevPilots, for example, lists the Enterprise plan cost at $45 per user, per month, or $540 per user per year. It stipulates that organizations require a minimum of 10 paying users to be eligible for the Enterprise plan, meaning that the minimum price that businesses should expect to pay for this tier of subscription is $5,400 per year.
The thing is, there’s no guarantee that the information you find online is up-to-date, or even accurate — and the lack of any further accounts of what companies are paying further illustrates the issue of pricing transparency in SaaS.
In fact, our data shows that Loom has a low pricing parity score, meaning that there are inconsistencies between what companies with similar needs are paying for their subscription. This suggests that not all enterprise-level subscribers pay the $45 flat fee — and pricing may be negotiable.
So, how can you ensure that you’re paying the best possible price?
How to get a discount on Loom pricing
Vertice can help you to negotiate a discount on your Loom contract, as well as other solutions within your software portfolio. The truth is, software prices are rarely set in stone — and with the right negotiation strategy, you may be able to secure a lower price on your plan.
So, this leads us to the next big question: how do you effectively negotiate a software contract?
These are some of our top recommendations.
Make use of competitor comparisons
One way to negotiate a SaaS contract is to come equipped with pricing insights for your chosen vendor’s competitors. For example, if you research the contract terms offered by other providers in the video communications space, such as BombBomb or Zoom, you may be able to incentivize Loom to match or beat a deal you’ve been offered.
As well as the billing cost, consider what your shortlisted vendors are offering in terms of:
- Renewal terms
- Notice period length
- Customization
- Maintenance and support
By negotiating with these variables, you may be able to bargain a bespoke deal tailored to your business needs — even at a better price than you were originally quoted for purchase or renewal.
Leverage price benchmarking data
Competitor comparisons may provide you with some leverage, but the reality is they will only get you so far. The most powerful leverage is intel into what other companies similar to your own are actually paying. When you negotiate with this data, vendors are more likely to match any discounted price points or contract terms that have been offered to your peers.
But as we’ve discussed, it can be challenging to find this data online — and even then, it’s often unreliable.
So how can you find reliable and accurate price benchmarking data?
In short, by talking to Vertice.
Let Vertice negotiate on your behalf
Vertice has access to the pricing and discounting data from over 13,000 global SaaS vendors. Our expert negotiators leverage this intel to procure the best-value software contacts for our clients.
By acting as an intermediary between your business and the software provider, we create a sense of impartiality that can help facilitate productive negotiations. This way, we can help reach an agreement that both you and your vendor are satisfied with — saving you the time, money and stress associated with software negotiations.
To see how much you could save on your annual SaaS spend, use our free cost savings analysis tool today — or take a look at our vendor database and access exclusive pricing insights for thousands of providers.
