How did you decide the pricing for your product?

Question

Hi everyone 👋🏻

I'm in the process of creating a new product and I'm starting to think of my pricing model. I was looking for some tips, what works or just some general insight into how you decided!

Thanks in advance 🙂

Clément Jacquelin · Accepted Answer

Check your competitors and ... try, try, try. A lot of Saas product change their price to see which one work better.

Abderisak · Answer

Don't overthink it. Set a price based on what you think is viable and what other similar services are charging. Start high. Don't undersell your product.

- If the price is too high, you can always reduce it, and all your existing users will be happy.

- If the price too low, you can increase it, and "grandfather" your old users (let them stay on their old plan) and charge new users with the new price.

Create an easy price matrix. You can do this on Google Sheets for free. 
For example. You charge:

A) $30/month = Got 200 sales = $6000
B) $10/month = Got 350 sales = $3500
C) $25/month = Got 260 sales = $6500 ---> Winner

Alina Ihnatiuk · Answer

I won't write 1000 words just read the article :)

https://www.marketingdonut.co.uk/marketing-strategy/pricing/seven-ways-to-price-your-product

How did you decide the pricing for your product?

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