Principal Product Manager, Security Pricing and Packaging – Security Solutions

This is a fully remote position, open to applicants in Canada.

📋 Description

• Take ownership of the packaging, pricing, and sales strategy for Elastic Security on Elastic Cloud Serverless.

• Establish tiers, feature entitlements, usage metrics, bundles, and add-ons.

• Evaluate pricing alternatives in relation to customer demand and COGS, presenting recommendations to the senior executive team.

• Manage margins and model costs related to ingest, search, retention, endpoint, and AI features in collaboration with Platform and Finance.

• Define pricing requirements prior to feature launches.

• Drive the growth of Security on Serverless from proof of concept to renewal, encompassing new workloads, migrations, expansions, and retention efforts.

• Specify search configurations, data tiers, and retention policies for security-related use cases.

• Ensure consistent tenant-level packaging in partnership with the Product Manager for MSSP and multi-tenancy.

• Streamline packaging, sizing, and pricing estimators while monitoring the time taken to generate a reliable quote.

• Develop PRDs and PRFAQs, leading collaborative efforts across Security Engineering, Serverless Platform, Billing and Metering, and Cloud Operations.

• Create pricing frameworks and reviews for Security PMs, Product Marketing, and Solutions Architects.

• Engage in discussions about willingness to pay with customers and prospects, while monitoring competitor packaging and pricing strategies.

• Assist the field in determining whether Serverless, hosted, or self-managed solutions are the most suitable fit.

• Implement token-based, credit-based, per-action, and outcome pricing models for AI features.

⛳️ Requirements

• Proven track record of leading pricing and packaging for a SaaS or cloud product from inception to execution, including option design, customer testing, margin modeling, and securing executive approval.

• Demonstrated success in achieving revenue, margin, or adoption results through pricing and packaging initiatives.

• Experience with usage-based or consumption pricing is essential.

• Background in simplifying overly complex pricing models.

• Proficiency with COGS, gross margin, and ARR modeling.

• Ability to collaborate with Finance to create accurate forecasts.

• Understanding of the architecture of multi-tenant cloud services and how design choices impact costs.

• Capability to comprehend technical designs.

• Strong leadership skills to influence in a matrixed, remote-first organization, and adept at asynchronous collaboration.

• Competence in presenting pricing strategies to a CISO and procurement team, serving as the product expert in supporting deals.

• Proficient in writing PRDs, pricing proposals, and executive summaries.

• Familiarity with using AI tools to enhance pricing analysis and cost modeling.

• 7 to 10 years of experience in product management, including significant exposure to security or cloud data products.

• Product experience with SIEM, XDR, endpoint, cloud security, or security operations platforms is advantageous.

• Previous experience as a SOC analyst, detection engineer, or security architect is a plus.

• Background at a security vendor, cloud data platform, or a company that transitioned customers from licensed to consumption pricing is preferred.

🏝️ Benefits

• Eligibility for the Elastic stock program.

• Company-matched Registered Retirement Savings Plan (RRSP) with dollar-for-dollar matching up to 6% of eligible earnings.

• Health coverage for you and your family available in numerous locations.

• Flexible work locations and schedules for many positions.

• Generous vacation days provided each year.

• Matching contributions up to $2000 (or local currency equivalent) for financial donations and community service.

• Up to 40 hours per year allocated for volunteer projects.

• Minimum of 16 weeks of parental leave.

• Competitive compensation based on your work contributions, not your previous salary.