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How do you know it's time to change your prices?
I don't think there is a "time to change your price"... I would probably ask "how do you figure out your optimal price and does it change over time?"
It is economics, when you have more work than you can handle raise your price. The people who want to work with you will pay the premium.
This is a great question!! I attended last week a webinar on price optimization that was amazing! Just join if they do another webinar. This is their site: http://priceintelligently.com
Short answer: When you think the market/customer is pushing for it.
At our startup, we continuously try to play around with the pricing of our product. These are my thoughts:
1. Pricing is a function of the amplitude of pain you are solving. The bigger pain you solve, (you can solve more by adding features) you can keep increasing your price.
2. I have always seen that it is easy to play around with prices on-call with your potential customers. Try giving sharp hints about various prices and you could see their response; adjust accordingly.
3. Introducing products or features as 'beta' is an interesting way to play with prices, figure out the ideal fit and change 'Beta' symbol and product price.
4. We had a hack we did when we launched a product where we put a slides between 2$ - 30$ and asked our customers to choose the price and pre-order. I wouldn't call it immensely helpful, but we understood it was less than 10$/month (for whatever we were selling then)
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