Set pricing
Jimmy Spikes
12 replies
When you launch should you have your pricing set or really how bad is to change it. Example we will offer a free/limited version and then a paid version but we are kind of torn on the price.
Replies
Matt@mattz
Property Tax Challenger
No point in waiting, launch with a price that feels right. You can definitely change it over the next few weeks and months as you collect more data and get closer to product-market fit
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@mattz couldn't agree more with you! @jimmy_spikes The way I see it is that everything is an experiment, pricing included! I know it may feel bad to twist it around, but you have to consider you need to learn what's the best price point, what do you think?
I can't recommend you enough the guides published by ProfitWell! What
@mattz @jimmy_spikes @ludmilla_redd there are also some rules of thumb that can be applied. See, for example,
@mattz @ludmilla_redd @marco_ancona2 this is a hugh help thank you . ansewers like this are the resason i like this site. thank you
pricing is the worst! obviously the most important!
but I just hate the phase of pricing in product dev
WorkHub
I would advise you to look at your competitors. Then, determine your product's pricing. You can have a competitive market pricing, a price that is a bit lower than your competitors to defeat the competition, or a price that is a bit higher if you feel your product delivers much more value than your competitors'.
@qudsia_ali Totally agree with you. Start off with the price that you feels right, but always take a look at your competitors. If they're selling the same product for $100, go with few percentage off. But if they're selling it lower than you would charge them, just make sure your products are worthy and much better!
NVSTly: Social Investing
We set ours very low not just to beat competitors, but because we're new- can always up the subscription later on if you feel it's under valued. If we ever do raise our subscription prices we will announce it ahead of time and let everyone know that they can lock in the cheaper subscription rate forever if they sub before price hike- and ofc existing subscribers.