SaaS Pricing: Picking the Best Pricing Strategy for Your Product

The pricing strategy for your product impacts more than you think. It impacts your Ideal Customer Profile. It impacts the economics of your business. It impacts your Win Rate. It impacts churn.

It even impacts your competitive dynamics. And yet so often – we just make up a number of charges for our product. And more often than not, I see Founders undercharging for their product.
In today’s episode, I’m going to give you the 3 most impact principles I’ve learned when it comes to your SaaS Pricing and when you follow these, you’ll be able to unlock new growth inside your SaaS business.

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PLAYLISTS TO WATCH NEXT

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^^ How I quit my finance job, built, scaled, and sold a venture-backed startup, and then helped sell the company that bought mine for $4.75bn. Here’s my crazy founder story.

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Say hi on social 👋:

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[justblinkcode]

Your use of music at the end of your videos, when you are doing your sales pitch is so awesome. It invokes such a feeling of adventure and and exciting journey we could embark on with you. Kudos.

[RealElites]

I'm upset I didn't start clicking your videos sooner, thank you for your content, you are a scholar and a gentleman

[dougmiller]

Yes, great framework and can see how you run founders through this

[astonwatches]

TK, what are your thoughts on your pricing for early-stage for your first 15 cohort customers). How much do you charge? Is it a set price for the first six months as you work with them as early-stage adopters? Are you on the less expensive side because your product is still in its early stage without customers?

[deekay]

Thanks for the video, its informative!
But i think product pricing very heavily depends on two main factors (1) the Quality & Features of the Product (2) the Brand Value of the Company,

If you are offering the same kind of features as others and nothing new and special then how can you charge a high price. 99% of the time customer compare other similar products. they usually go with already well-known with good reviews brand. the only way they will signup with the totally new player is when its the best deal for them. The best deal means cheap in price but best in services.

If you are a new product in the market then does not matter what evaluation you make for yourself. the customers do not expect to you have such high prices. so a high-price strategy only works well for already established and well-known brands.

Apply and Samsung can decide the price as they wish but Huawei can not sell with a premium price because first, they need to establish themselves as a premium brand.
You can not think by yourself that we are better and must sell on a higher price. People are smart they know what they are paying for. similar to your coaching course TK, It's so high priced that i am sure you have lost hundreds of SAAS founders and learners who just can't afford that price.

Finally, people have this basic instinct when someone is priced expensive or reasonably. its ok to pay less at first then later when the services are good and helping in business then there is no harm to pay more. so its not what strategy we should learn about pricing. its more about what is the quality of our product and what market value we have as a company to determine to price.

[lxc]

What is PLG? I don't think it was stated.

[LuckyRobHorrocks]

Great video and very informative. However, using industry specific abbreviations that a beginner will not understand is not very helpful. You’ve done this quite a few times in this video and I have to keep stopping to Google what is the particular abbreviation means.