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#148 - Startup School Week 7 Recap - Kevin Hale on Conversion Rates and Pricing
Y Combinator Startup Podcast
How to Maximize Your Pricing
Pricing gives the most bank for your buck. If you've never touched the pricing of your product, then you're losing out on lots of potential growth. Your price will determine your acquisition strategy. Get organized when you're doing price optimization. Figure out a bunch of different price points you want to check. Understand sales volume, conversion rate in the revenue that's involved and that will help you make the best pricing decision. Use the ten, five, 20 roll. Set a price that is ten x, that is a tenth of the value, increase prices by five % until you are losing 20 % of the deals. It's not too high, not too low. Insummary
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