Pricing a new product
“What price do we charge?” That question brings up endless debate. If you have a business partner, you probably argue about it. I know we did at Inkling.
This is an answer to: How did you choose your pricing model?
There’s a lot of great advice. Things like using split testing to experiment with different prices. Or an interesting psychological principle called anchoring that can occur when you have multiple price points. But here are a few thoughts on pricing that have been helpful to me.
1. Pay for your own product.
This is the most important. It’s simply to take dogfooding to the next level. Dogfooding is the act of using your own product. So I don’t just use the product I create. I also take out my credit card and pay for it like everyone else.
You might think that’s a trivial detail. It might even seem silly, since I have to pay credit card processing fees just to charge...
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