4 ms·
The answers HN readers give won’t be representative of the “revealed preferences”[1] your prospective customers - even if both are from the same person. Get 10
by troydavis 9y ago
The answers HN readers give won’t be representative of the “revealed preferences”[1] your prospective customers - even if both are from the same person. Get 10 people excited about your product and have conversations/casual pricing negotiations with them.
1: https://en.wikipedia.org/wiki/Revealed_preference https://en.wikipedia.org/wiki/Revealed_preference, http://www.beyondcostplus.com/blog/stated-vs-revealed-preferences-pricing http://www.beyondcostplus.com/blog/stated-vs-revealed-prefer...
- troydavis 9y agoIn case a future reader stumbles across this thread.. today I read someone else's description of exactly this. From https://www.kapwing.com/blog/unexpected-challenges-of-making-money/ https://www.kapwing.com/blog/unexpected-challenges-of-making... (https://news.ycombinator.com/item?id=16542603 https://news.ycombinator.com/item?id=16542603): > 8. Customers are bad at telling you how much they would pay: Before we added the paywall, we asked a sample of users if they’d be willing to pay a fee to remove a watermark. The majority said they wouldn’t be. But when we actually added the paywall, several people who said they wouldn’t pay did. After we launched, some people have told us our product is cheap and plenty have said it’s too expensive. Takeaway: The easiest way to tell if people will pay is to make them an offer and see if they cash in.