Pricing is a mix of art science. Most product startups have a hard time figuring out their revenue model (freemium or, paid only) and what they should charge. If you chose freemium, you have to be careful that cost of incremental customer is low and it will be great, if this customer also helps spread the word about you. On the other hand, if you choose paid, you run the risk of having minimal traction, especially if your sales cycle is long and complex.
In either of the business models, you need to have clarity on who your customer is, what they are really looking for, does it have a direct impact on creating additional revenue or, eliminate inefficiencies and what your competitors are charging and why. Is your sales cycle long or, short? In a product company, you expect to cover the cost from multiple customers and not just one. However, most businesses falter as they fail to take into account the cost related to acquiring paid customers and customer service.
All being said, do remember that for most companies, pricing is an evolution as your product is.
You will hear from our experts on how they went about pricing their products and what if any adjustments they made along the way based on their learning.
#PNMeetup is an initiative by ProductNation and is meant for Entrepreneurs, Product Startups, Product Managers in the NCR Region. Here you can share, learn and network with fellow Product Managers and also discuss new trends innovations, get feedback on prototypes and insights from experienced people in the industry.
The objective of #PNMeetup is to provide each attendee with practical skills and knowledge that they can put into practice tomorrow to improve the products they bring to market, enhance their companys success and further their own careers. Some of the people supporting this initiative are: Amit Ranjan(Slideshare), Arvind Jha(Movico Technologies), Jainendra Kumar(Pitney Bowes), Pawan Goyal(Adobe), Rajat Garg(SocialAppsHQ), R. P. Singh(Nucleus Software), Vivek Agarwal(Liqvid eLearning).
These meetups will be done on Third Saturdays of the month and will include an opportunity for professional networking. If you would like to volunteer and make a difference to the Product Eco-system in NCR, do send us a mail at volunteerpn.ispirt.in
Limited seating and registrations is strictly for Product Startups and Product Managers. No onsite registrations will be allowed. Register Now to avoid disappointment. This is a closed event and If selected you will get the confirmation for the event.
Kunzum Travel Cafe: Address: T-49, GF, Hauz Khas Village, New Delhi, Delhi 110016