Tips for making good pricing plans for your product?

A part from server cost and that normal stuff:

How do you measure the value that your product provides to customers?
Determining the number of plans

January 21, 2019 at 9:22 PM

Hey Richard, I just finished a new article for Growthhacklist about How to find the right pricing model. I think some of the key takeaways are the followings:

Answer the following questions to get a good idea of pricing your product Who is your customer? What are your per-unit costs? What is your revenue target? What is your value to the customer? Who are your competitors and what is their pricing? Where is the market headed?

Pricing is also psychology - some concepts:

Charm Pricing: Use pricing that ends in "9" - $9,99 Prestige Pricing: Completely the opposite of Charm pricing involves all numerical values into rounded figures - $10 BOGOF: Buy one, get one free. You can also change that to buy one get 20% off your next purchase Comparative Pricing: Placing your expensive plan next to standard Visually pricing: Highlight different prices visually Anchor pricing: What is the best way to sell a product for $3000? Right next to a $10000 product etc.

And above all - experiment with pricing to find the best equilibrium between the price that consumers pay and the price that they are willing to pay.

Hope that helps - if you want to read more about pricing and examples, here is the full article: https://growthhacklist.com/methods/choosing-the-right-pricing-model

0 Likes

._. Author

January 21, 2019 at 11:01 PM

Thanks for your comment, Tobi. Really useful. I wanted to read more but the article you linked is down :(

0 Likes