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Brainstorming Ideas with The $200M Man
My First Million
Insights on Pricing Strategies - Maximizing Revenue Through Add-Ons and Localisations
Change something about your price every three months, such as packaging, up-marketing, add-ons, or discounting strategy. Add-ons are underrated and can boost lifetime value by 20 to 50%. Offer multiple add-ons to customers, as high-growth companies typically have 12 or more. Localize pricing based on different regions, as customers in different areas may be willing to pay more or less than in the US. Measure the success of pricing changes by tracking revenue per customer, which should ideally increase over time. Consider metrics like average revenue per user or visitor depending on the type of business, and aim to improve monetization without sacrificing customer volume.
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