How do you measure the willingness to pay of users & the price sensitivity?
Stephane Ibos
4 replies
Hello all,
As we are now growing, we are looking into monetizing our solution. We provide a platform for software developers and tech leads that helps streamline development workflows and automate team cooperation (keypup.io).
On the developers market, there is a well known business model, which is fremium: essentially, the platform comes with a free-forever base offer, and then there are paid plans for some "advanced" or "premium" features.
The question we have to tackle is 2-folds:
1 - How do you measure the willingness to pay of your users ahead of launching the monetization? Is there a tool you can use or what would be a good way to go about it?
2 - How do you measure the price sensitivity? Of course, there is always looking at what the competition or similar services do. But is there a way to "test" the market?
Thanks in advance for your inputs!
Replies
Daniela Passos@danizeres
Hey! How are ya?
My top suggestion is -
Test it!
Create A/B testing buttons or landing pages :)
We've done that to get to Phovi App monetization model and % rate.
Share
@danielamoitinho Thanks Daniela, appreciate the idea!
I'd found this resource from a FirstRound article about SuperHuman Product Frameworks, it's a tool they'd used for testing price sensitivity: https://en.wikipedia.org/wiki/Va...