Lenny's Podcast: Product | Growth | Career

How to price your product | Naomi Ionita (Menlo Ventures)

201 snips
Jan 12, 2023
Naomi Ionita, a Partner at Menlo Ventures and expert in product-led growth, shares her insights on monetization strategies. She discusses common founder pitfalls and effective experiments to determine pricing. Naomi highlights the importance of aligning pricing with customer value and user feedback. She introduces the concept of the Modern Growth Stack and emphasizes balancing revenue with growth, using real-life examples like Evernote and Figma. The conversation also touches on the transformative role of AI in pricing strategies for SaaS companies.
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ADVICE

Monetize Early

  • Monetize your product early, don't wait too long.
  • Charging early provides valuable feedback and establishes product value.
INSIGHT

Freemium Strategy

  • Freemium models can be effective for initial user acquisition and habit formation.
  • However, strategically placing paywalls and premium features is crucial.
ADVICE

Day One vs. Day 100 Features

  • Differentiate between "day one" and "day 100" features.
  • Offer essential features for free initially and charge for advanced functionalities later.
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