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#148 - Startup School Week 7 Recap - Kevin Hale on Conversion Rates and Pricing
Y Combinator Startup Podcast
Value Over Price: The Key to Successful Price Optimization
Early adopters prioritize benefits over price when evaluating products. To optimize pricing, focus on the value your product provides and avoid undercharging. Organize your approach to price optimization by testing different price points, considering sales volume, conversion rates, and revenue. Your pricing strategy will influence your acquisition strategy, so ensure the balance between sales cycle expenses and pricing is optimal. Use the 'ten, five, 20 roll' method to set prices at a tenth of the value and increase by 5% until losing 20% of deals, balancing value and affordability.
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