How to deal with people who can’t afford your service?
Dear community,
I‘m facing a challenge right know and would like to pick your brains on it.
I have several requests from users in Latin America who tried my application and really like it. Problem is they can’t really afford my service, although the smallest plan is $5.99 it seems to be a lot for people there as the dollar is pretty strong.
I really enjoy talking to them and they add value in form of good feedback. I was thinking of coming up with some sort of referral system so they could earn the service for free.
What do y’all think about that? Have you dealt with that sort of issue at some point?
Thanks in advance! 🙌
Our service at weeklystocktip.com costs $29 a week, which to some seems expensive.
Whenever some one "complains" about the expense, we show them the math of why it makes sense, and offer helpful advice as a free risk-free alternative (of course with lower results)
Can't cater to everyone. Our pricing used to be $20,000 a year, and we still offer a product at $140,000 annually.
What's your marginal cost to provide the service? If you can make a profit at 3$ you could use geofencing to offer that price to latin america and keep the higher price here. You're not expected to provide the same services at that price, so you could even offer a tier that allows you to cut the price but doesn't effect the utility of the product.
In some cultures, negotiating is expected. Online, however, it is a different story because you can't cater to all cultures.
If you want to create a referral system, ask yourself, will this really result in more sales, and will it be measurable? If not, don't do it. You can't always cater to the lowest denominator. You need sales to survive, it's a business not a charity.
hope this helps,
This comment was deleted 5 years ago