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.
(Since we originally ran this episode, Fanni has moved on to take the Head of Product role at Bequest.)
In this episode, 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.
Featured Links: Follow Fanni on LinkedIn | Bequest | Founders Factory | Fanni's 'How to Price Your Product in a Startup' article
Our Hosts
Lily Smith enjoys working as a consultant product manager with early-stage and growing startups and as a mentor to other product managers. She’s currently Chief Product Officer at BBC Maestro, 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 and runs ProductCamp in Bristol and Bath.
Randy Silver is a Leadership & Product Coach and Consultant. He gets teams unstuck, helping you to supercharge your results. Randy's held interim CPO and Leadership roles at scale-ups and SMEs, advised start-ups, and been Head of Product at HSBC and Sainsbury’s. He participated in Silicon Valley Product Group’s Coaching the Coaches forum, and speaks frequently at conferences and events. You can join one of communities he runs for CPOs (CPO Circles), Product Managers (Product In the {A}ether) and Product Coaches. He’s the author of What Do We Do Now? A Product Manager’s Guide to Strategy in the Time of COVID-19. A recovering music journalist and editor, Randy also launched Amazon’s music stores in the US & UK.
