Help October 27, 2020

How do you set prices?

Dominik Ilnicki @Ilnicki010

I'm curious how do you set prices for your products. I plan to launch my very first thing (, my costs are very small and I don't know what number would be good. How should I think about it? What consider? What's your take on that?

Thank you in advance for all advice

  1. 1

    All of the previous comments are good.

    In addition, one of the techniques you can use is to create a tiered pricing page with a low, medium and high end price. This way you give people the option to pay more for more value and can learn what they are willing to pay.

    Once someone clicks on a plan size - have a page that says you're preparing to launch and prices will be finalized post launch.

    Just an option I've used before when searching for pricing around an offering.

  2. 1

    The first thing I do is check out the opposition and see what they are charging. I try to come in lower priced than the big players if it will work for me.

    I also start with an 'early-bird' discount which is locked-in for a long fixed period (e.g. 24 months) and expires automatically. The discount can then be removed at any time without existing customers getting a price increase that's unexpected.

    Also, don't price your time at zero in your costs. It is worth something.

    1. 2

      Hey, thank you for that advice. I feel I'll start from prices a little bit lower than my competitors and evaluate pricing later on.

  3. 1

    Hi Dominik,
    so what I always hear is -- price high, because you can always lower your price later. Raising your price for existing customers is much harder.

    With my current product, since I am going to use it myself, I am also trying to consider the amount of money I would be personally fine with paying for this product.

    What's more is you can think about the target audience you have. If your costs are very low and you think your product is highly valuable and you would personally pay a lot of money for it, would it still make sense to price the product low to get even more customers? To answer that you should ask yourself: Who do you WANT as customers and what's your MISSION (maximizing money profit or something else?)?

    There may be a group of people who are only willing to pay little for your product, there are people who are willing to pay more for your product, and there are people who are willing to pay a lot for your product. So, when you set your price, some people will think "this price is too high for this kind of product", but maybe for THESE people, that's what you want them to think. Because they don't fit to your company. Other people will think the price is low for what they get. And so forth..

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