Kevin Hale - Startup Pricing 101

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YC Partner Kevin Hale goes over the fundamentals of pricing and monetization, how it affects your customer acquisition strategy, and how to optimize it through a few rules of thumb.

Timestamps
0:00 Introduction
1:35 ROI of monetization
2:50 The pricing thermometer
5:00 Pricing mistakes
6:34 Stages of a company
7:47 Why is pricing innovation hard?
9:55 How to optimize prices
10:58 Pricing danger zone
15:24 10 - 5 - 20 rule
16:50 Conclusion

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Комментарии

Kevin Hale never disappoints with these presentations! Good stuff brother! Keep being excellent!

OmarDelawar

I love Kevin's talks! Pricing feels like voodoo. The fact that this works is amazing, excellent simple tips to follow.

rajinderyadav

Important information about refunds: what a joy

Linda___i

Very insightful..Kevin's presentation is worth over millions of dollars to me.

kwakuadade

This presentation definitely has 10X value, being in Freemium model. Thanks Kevin!

milinddeore

This was by far the most helpful and valuable presentation I've seen! Thanks!!

Mameghani

Started watching thinking, "God this is awesome stuff, why didn't I watch this earlier?!" only to realize it was posted today. Now I have to completely overhaul my pricing strategy but I'm not late to this video party, so I've got that going for me...

blakemccorkle

Price thermometer, optimize price table and 10/5/20 rule of thumb are valuable tips that can be applied immediately. Thanks Kevin, much value here!

ramadhaniwasilWasil

I'm liking the 10/5/20 rule. Setting yourself up for 'relatively' easy 10x'ng of your product. Because if customers are coming in feeling that the value is 10x the price in the beginning, they'll see that value manifest as they use the product/service and ultimately will be accepting of the price eventually growing out toward that value point. Of course, that 20% 'acceptable loss' won't, but it plays into the strategy.
I always worry about pricing, 'too high?' 'too low?'.... I mean I know the value and therefore the acceptable pricing of what I deliver, but in the beginning, you probably can't portray that value straight off the bat and you have to prove it. So this idea warms me to the fact that I may have to charge a tenth of what I think is right, to begin with.

dunlopstar

Just the issue my startup was currently facing. These YC videos are a godsend

JakeStevens

04:19 value based pricing 06:56 first 2 stages, production development stage, introduction, you're not in the growth stage, early adopters, they don't look like mainstream customers that you find in the growth and maturity stages 07:49 what you are trying to do fundamentally, is requiring users to change their patterns

patriceken

There should be a book with all the information given in these videos :D "The YC way" :D

Vengefulization

Those are simple, yet *perfectly on-point slides* . Amazing value from all your presentations so far. To give you guys also little bit of experience from Edgy, esp. for Edtech startups here:

At first I wanted to start off with online courses & curriculums at around $300. Only later I realized I could just throw a *2-month mentorship* into the room and see how the customers react. I chose $2, 500 as starting price -which I thought they'd never pay.

=> *I had more signups for the mentorship than for the courses.* We went through the first row of mentorships, and the guys got amazing value. All of them have stopped losing money (which the majority of first time traders keep doing, we're talking about losses in the 5-6 figures in some cases here), and most of them are already making great gains in the short-term, but of course being consistently profitable comes with time.

Conclusion: *Never underestimate the value guys.* If you turn the value around in our case, the avg. customers are saving 4-5 figures at least. This is the real value they're getting/saving.

edgy

Thank you very much. loved every second of it.
God bless you all.

amortalbeing

I never understand how to measure perceived value. What in the hell does that actually mean if anything. Yes, I can Google the word but it still is this mysterious terminology that no one has yet to clearly define

VtheGod