Check your assumption and charge more

A startup founder I met yesterday was in a conundrum about why her trial plan customers were not converting to paid customers. Her first guess was that the price of the product was the deal breaker.

The biggest misconception founders/product managers have about their customer is that they believe the price of the product is an obstacle to purchase.

Obviously, there are limits to what you can charge but in the end, people usually make decisions about price after factoring in things like performance, quality, brand and perceived value.

Price only is an issue when they don’t care about these factors.

If you manage to explain/illustrate these to your prospective customers, you will not face friction when asking for a fair price.

Photo by José Martín Ramírez Carrasco on Unsplash