I've noticed many SaaS products name their pricing plans using names like "Standard", "Premium", "Startup", etc.
What did you name yours and why?
The most important advice to remember when building a pricing page is: don’t forget to talk extensively with your early customers/audience/beta testers/Twitter followers. It’s such a simple thing to remember, yet people tend to put it off . Basically whomever you’re trying to sell the product to will be the best source of information when packaging your pricing.
For example, if you’re a startup, the first step is to chat with your early users. They might be a business, or a group of people - they might not know how much time you’re saving them by providing them with a service.
That’s your mission: find out how much they’re willing to pay before they think - “no, that’s not worth it!”
The trick is to understand, using a matrix, what are the features they are willing to pay the big bucks for and bundle the rest accordingly
A very pragmatic reason is that you can reference them in your conversion funnels. For example, in your app on a premium feature you can say: Upgrade to "Premium", etc..
I have 2 plans. I use "Free" because it is free. I use "Pro" for the paid plan because it's short; makes the UI better/easier when I placed the text "Pro" next to a feature that requires that plan.