Product Development November 30, 2020

How do you come with your pricing plan names?

Arnob Mukherjee @iamarnob

Would love to know how to get that story right, for your pricing plan names, like a pro, basic, etc. and if you have seen any creative pricing plan names do share it in the comments below.

  1. 5

    A few years ago I read that the best pricing teirs were named after who they were meant for. That lets a customer know instantly which teir is meant for them, and eliminates second guessing and reading all the fine print.

    Eg. If you are a manager at Google looking at a SaaS, you'll always pick the one thats named "Enterprise", because you know a. Google doesn't need to worry about cost, and b. Google is obviously an Enterprise.
    Similarly, any professional business just won't pick the "Starter" or "Hobby" plan... even if they could easily work within that plan's limits. They'll pick one named "Professional".

    I'd avoid the cutesy names mentioned in the other posts. The pricing page is part of your funnel. Don't waste your customer's tme, and don't make them think too hard.

    Also: if you're doing a B2B, imagine if the person has to present their choice to their manager. Do you want them to have to think about how it'd feel to have to write something ridiculous like "in my opinion, the unicorn rainbow plan is the best fit for our ROI goals" in a formal email?

    1. 1

      I was about to scroll past this but glad I read.

      Now I think I should change the Premium to Pro on our community landing page. I should have given this more thought before, like, premium vibes exclusive/luxury and pro goes with professionals/experts.

    2. 1

      @yousufj this is so useful thanks for summarising it so well 🙌🏻

  2. 3

    For Buzzbomb.com (launches December 9th), we got creative and made the names around explosives in order of firepower:

    Fireworks ($49/mo),
    Grenade ($99/mo),
    Atomic ($399/mo).
    Nuclear ($999/mo).

    See for yourself: https://buzzbomb.com/pricing

    I think either going for something basic such as (lite/pro) is good but safe. If you have a suitable brand name, do something like we did - it's more memorable

    1. 1

      Oh yes I liked this 🔥 quite creative
      Fireworks
      Grenade
      Atomic
      Nuclear

  3. 2

    When I came up with the names I went for two things:

    • Audience
    • Names that are already widely used by others

    The first plan is called "Founder" which directly targets part of the audience I market the product to and in my mind I want this to resonate with early stage founders.
    Then I have a plan called "Pro" which is a very common name which is above the starter plan and gives you access to more features.

  4. 2

    I followed this: https://www.priceintelligently.com/blog/bid/172319/is-the-name-of-your-freemium-offer-losing-you-revenue

    There are a few people who have done studies and the like on how you should name your plans.

    1. 1

      Interesting thanks for sharing the resources will have a look at it 🔥 any other writers I should follow on saas pricing and things around it?

      1. 2

        They do a video series that is excellent too https://www.youtube.com/watch?v=oeq8DzT8uaQ&list=PLdZW0nVWzzEQ_VIBu7OhNzl_4ulUlu_h0 .

        I haven't had to really dig in to our pricing yet, so I can't remember any of the others I've read off the top of my head.

        1. 1

          Awesome awesome, thanks for sharing ❤️

  5. 2

    I'm going to use hobbyist - professional for two tier pricing model. Not so creative.

    I remember seeing a pokemon style pricing for three tier but I have no clue when or where.

    1. 1

      The Pokemon style 😅 would love to see that 🎉

  6. 1

    I would always try to keep it simple - overthinking pricing plans is incredibly useless.

    1. Basic, Pro, Enterprise
    2. Bronze, Silver, Gold

    and always consider adding a FREE plan !

    It all depends on your buyers persona study. If you've realized that most of your Basic purchasers are Freelancers - you could call your plan Freelancer.

    It's like this:
    Name your plan to the name your audience calls themselves!

    This is Squarespace, they know most of their BASIC plans are for Personal use, so they called their plan just that
    Then they realized their higher plans are for business and e-commerce, thus...the names!

    1. 1

      I recently replaced bronze, silver and gold with standard, standard plus and professional.

    2. 1

      Ahh, make sense, yes like simple and sweet no need to make them think twice.

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