“Being on the receiving end of pricing and packaging experiments can be really frustrating if you find out. And so we've had a philosophy of, hey, if someone finds out or if someone is really unhappy, how do we just give them the most generous version of our policy to make sure that there isn't any negative consequence and I think negative potential brand impact.”
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More from Janie Lee
Insight
Lee: Enterprise companies lack the funnel volume for precise pricing experiments
“It's really, really hard to have enough volume so far down the purchase funnel to actually run an experiment that gives you really precise results. And even if you do, it'll take you a really long time to get enough data on things like churn that actually will…”
Janie LeeDec 3, 2024▶ 10:07How to Leverage Pricing and Packaging to Drive Revenue with Miro, Loom, OpenAI, and Splunk
Disclosure
Loom reserves pricing experiments exclusively for its highest-risk, highest-impact changes
“We rarely are running experiments like on a quarterly basis on pricing. These are really reserved for our highest impact, biggest risk changes.”
Janie LeeDec 3, 2024▶ 12:13How to Leverage Pricing and Packaging to Drive Revenue with Miro, Loom, OpenAI, and Splunk
Insight
Lee: Changing core package pricing is riskier than launching new products
“When you're rolling out a completely new product, worst cases, no one buys it, which is obviously really bad, but you're not actually detracting from your bottom line. Whereas if you're changing an existing package that You already have the majority of your cu…”
Janie LeeDec 3, 2024▶ 10:51How to Leverage Pricing and Packaging to Drive Revenue with Miro, Loom, OpenAI, and Splunk
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