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This episode is a continuation of Getting SaaS pricing Part-1 , where Arvind and Varun bump it up a notch. In Part 1, we talked about how to figure out your pricing model in the early stages of product building and the common pitfalls of failing to get pricing iteratively right.
In Part 2, we discuss key features of a pricing plan like Naming of plans, the ideal number of plans to go with, Add-ons, Discounts, cost-based pricing and value-based pricing.
Listen on as the duo share insights from their own experience of having worked for and mentored other companies and of course getting the price right in their own respective startups. Enjoy the show!
0:00 – Coming up
3:40 – Benefits of Decoy pricing plan
6:05 – What’s the ideal number of price plans?
8:30 – Open Vs Hidden pricing
14:00 – Contact us to know the pricing
16:56 – Knowing your target audience while selling
21:40 – Naming the Price Plans
26:10 – Deciding on the value metric
28:05 – Land and expand strategy
29:55 – What is value and value-based pricing?
35:43 – Is there room for Add-ons?
42:12 – How often do we change pricing?
44:23 – Open Vs Closed pricing verdict
46:05 – Dishing out Discounts
49:15 – Importance of pricing in NRR
52:00 – Top 3 ways to increase NRR
56:15 – Importance of revenue recognition
59:15 – Varun and Arvind’s Pricing pet peeves
5:14 Apple
7:16 Mercedes Benz
9:37 SuperOps
19:50 Girish M
21:00 Zoho
23:05 FreshDesk
23:45 Target
24:15 PipeCandy
24:21 Wingman
26:53 Intercom
31:08 Spot Instances
32:20 Spot.io
43:46 ChargeBee
51:00 Manage Engine
51:21 Cisco
51:44 Zendesk
52:16 Kayako
53:45 Hubspot
54:30 IKEA
56:30 Sequoia
56:42 Price Waterhouse Coopers
57:22 KPMG
58:33 Deloitte
59:29 Zoho
58:50 For Entrepreneurs
Chargebee plans
Key questions
Add-ons below the fold on Front’s pricing page
Note: revenue and bookings are not the same. Revenue has to be recognized over time, for example by recognizing your 1/12th your ARR every month.
To go deep into the details and figure out how to nail your pricing strategy, watch the full episode out here.