Pricing Strategy

“And so I think most creators should aim not to compete on price and be the cheapest product, but instead, how can you deliver more value to charge more for your product? Because getting customers is hard, no matter what. And so I would rather take the approach…”

“Keeping everything in mind, we intentionally kept our prices, 50%, 60%, 40%, more affordable than best of the companies.”

“Most owners have what we call poor owner mindset, which I don't love the words because it, it's kind of got a negative connotation, but they price things below what they would pay for them. They don't price them based on outcome. They price them based on walle…”

“If you're going to ask for something at a size or scale that's meaningful for your potential customer. Because if they cannot do it at a scale that's of meaning where their boss has to sign off on it, they might not be that serious.”

“So not only do I think we don't sell enough, I think we price ourselves out of deals all the time, because we're the cheapest, you know. Because we're like, oh, no, no, no, I want to over serve the customer. No, you lost my business because I don't trust that …”

“And what price dictates is the quality of customer. You will find customers at the lower price point. And for anyone here that sells at a low price point, if you ever found that your customers are really bitchy and moany and they really suck, it's because you'…”

“Even though people are going to say other things matter more, like your pricing strategy, what's your go-to-market? What's your total addressable market? All those things sound fancy, and they don't matter. Get a few people to buy things from you fast. Get a f…”

“The acid test that you probably should go back on Monday morning and do is take some of your early prospects or customers and ask them to articulate the pricing strategy back to you, right? If they were to actually sell on your behalf, how would they describe …”

“You know, many, many founders rush with like one product and one price and say, okay, this is a hundred K product and that's what we are trying to sell. Inevitably, what will happen is the, you know, the immediate focus of the conversation will be on the price…”

“I mean, if you're bringing a lot of value to the table and you started training your customers to expect 20 dollars a month, then you anchored yourself on a raw price point. I think there are companies that have actually done that, and they try to undo it with…”

“I think that is part of learning the value of your product. You have to kind of test and say, okay, this budget, everyone's saying yes to without negotiating. Maybe we could go a little higher, you know, maybe we can see value in that.”

“Also remember guys, you can only price yourself the absolute cheapest to the bottom. There is no value in being the second Most cheap.”

“Pricing strategy should not be to chase revenue, but it should be to attract revenue.”

“Being, you know, 20, 30% cheaper, like, that's not enough to really get people to, like, think about it.”

“You don't want win rates that are 60, 70%. You're either not in enough deals, right? Like you're just way too narrow or your price is way too low. Like, if you win 70% of deals, then, like, that's not good. That's a bad, or at least you could go much bigger, r…”

“You should be changing something about your price every three months. That does not mean raise your price every three months, but it means, like, changing up your packaging, going up market, down market, changing up an add-on, changing up your discounting stra…”

“Almost any move you make after you've slapped an initial price on your product comes with a risk of sending your customers scattering. When users sign up for that price, the one you probably used in marketing, the one that your earliest fans decided was worth …”

“Over the last decade, I've been actually advocating that this should sit in the product side, and there was also the genesis of monetizing innovation, because if we truly believe that we need to build products that, you know, are simply products that customers…”

“Usually we say at least every six months, pause and think whether you should revisit it. Within, ah, you know, 12 to 18 months, probably there is time to revisit, especially given market dynamics in most, ah, you know, industry verticals that people are in tod…”

“If you want to lower your prices, no one's going to complain. And if you want to grant, if you want to raise your prices, you just grandfather your existing users, which if you have exponential growth will always be a tiny subset of your total users, and then …”

“Typically how we do is like, we have somebody who was a client of ours, 15 years ago, and we have several of them. They're still paying the same rate that they were paying 15 years ago.”