How do you setup pricing for a request SaaS?
I'm interested in building a SaaS that takes audio content (videos or podcasts), transcribes it and turns it into new written content (twitter threads or blogs), which could be helpful for content creators. How would you setup pricing?
(and if anyone is interested in a project like this one, let me know)
Hey there!
For pricing your SaaS, consider these options:
Hope this helps! Good luck with your project!
I generally say 'you cannot price what you do not measure' :)
From an actionable standpoint, you could start with a free tool (with appropriate rate limits) and start monitoring usage patters. Then you should look at the segment of customers who use your product the most and the value your product provides them. Eg: a standalone individual who uses your tool to post on their personal social profiles would be a very different audience and segment compared to say an organization that uses it for their company branding.
Then having a willingness to pay conversation with your user base would be a good way to identify what's the budget your customers have on their hands for solving this pain point. Once you have these data points, you could form your hypothesis and then start iterating to arrive at a true win-win scenario. If you incur costs on a per request basis, you also need to take unit economics into consideration for your pricing.
Price it per minute of processed audio, like Rev.com.
I have written an article about it, I think it can help you: https://pricingcorner.com/pricing-method-how-to-choose-the-most-suitable-for-your-saas/
I'm happy to talk more over twitter DM: https://twitter.com/ImBrunoCruz
Thanks, nice article! Will be reading more into finding willingness to pay using the different methods you outlined
You are welcome. My advice is to talk to your users first to understand how they feel about the value you can provide
I would look at the price of direct competitors and price it right along with them. (not under) And I'd also look at indirect competitors. How are your customers doing what you're doing, already? VA's? that's $300 to $1,000 a month.
I imagine the transcription won't be hard with current technology, but the "new written content" part might be the hardest part to get right, because so many people have different styles. But I'd use that to your advantage in figuring out pricing. You can price against higher cost VA's or even Copywriters, or Professional Writers. Check out their prices. And base your pricing against that.
"Instead of spending $2,000 a month on a ghost writer, get this app for $50 a month"
And you won't necessarily be putting "ghostwriters" out of business but rather finding people who might never hire a ghost writer "YET" because they don't have the volume to do that, nor the results. You can be a great stepping stone. And thus Ghostwriters might even get more work from people who love your app and then need more professional editing, or creative choices, etc.
Thank you so much for the detailed response! You propose a very interesting approach. I've always thought of it like an API and charge per request, but it might not make sense for people that aren't developers.
Will look into pricing of alternatives and narrow it down a bit more :)
Hey great topic
I am working on pricing.
My articles can help you.
https://www.linkedin.com/pulse/psychology-pricing-youre-leaving-money-table-denizcan-sanlav/?trackingId=77NdNdzVReixLNS4Cm57KQ%3D%3D
If this helps.
To set up pricing for a request SaaS, you need to first determine your target market, analyze your competition, and identify your unique value proposition. Based on this, you can then decide on a pricing strategy that aligns with your business goals and customer needs, whether it's a subscription model, pay-per-use, or tiered pricing.