How much should you be charging? Are you leaving money on the table, or are you scaring away potential customers? Pricing strategy can be one of the biggest challenges for product people, so we asked Founders Factory coach Fanni Fejes to share some of the lessons she teaches founders.
In this episode, sponsored by Hotjar, listen to learn about:
- Having a good pricing strategy
- Applying anchor pricing
- Using metrics well
Quote of the Episode
If the pilot is free, make sure that it’s for a certain amount of time – and then you have the chance to renegotiate from there… In my personal experience, it’s easier to ask for more money than to ask for money at all.
Links mentioned in this episode
- Follow Fanni on LinkedIn
- Founders Factory
- Fanni’s article, How to Price Your Product in a Startup
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The Product Experience is hosted by Lily Smith and Randy Silver.
Lily enjoys working as a consultant product manager with early-stage and growing startups and as a mentor to other product managers. She’s currently Head of Innovation at Go Compare and has spent 13 years in the tech industry working with startups in the SaaS and mobile space. She’s worked on a diverse range of products – leading the product teams through discovery, prototyping, testing and delivery. Lily also founded ProductTank Bristol (which now has 800+ members!) and runs ProductCamp in Bristol and Bath.
Randy is a product consultant and coach who has been working as an interactive producer and product manager across the US and UK for nearly 20 years. A recovering music journalist and editor, he launched Amazon’s music stores in the US and UK, and has worked across sectors including museums and arts groups, online education, media and entertainment, retail and financial services. He’s held Head of Product roles at HSBC and Sainsbury’s, where he also directed their 100+-person product community. Randy’s book, What Do We Do Now? A Product Manager’s Guide to Strategy in the Time of COVID-19 is out now, with all profits going to COVID-19 relief efforts.