5 ms·
another mistake a lot of people make is try to base their price on competitors. sure you can undercut their $3/mo...or you can bump your price up to $15/mo and
by vaksel 16y ago
another mistake a lot of people make is try to base their price on competitors.
sure you can undercut their $3/mo...or you can bump your price up to $15/mo and use the difference on advertising.
Chances are that 99% of your customers will never even see your competitor...so you won't hurt your business by charging more...and you can use the extra revenue to promote your product in places where your competitor just can't afford to promote in.
- jacquesm 16y ago> Chances are that 99% of your customers will never even see your competitor... That seems to be the hardest thing to convince people of. 'But my competition'... Yes, you are aware of your competition but your users are most likely not. They found you instead.
- yxhuvud 16y agoThis will stop working fast if you charge enough so that people start looking for alternatives though.
- josefresco 16y agoExactly. There's a price point always where people will stop and say to themselves; "maybe I should shop around" in which case they'll find a competitor of yours and complicate things.