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Only 45% of Europeans use euros (http://en.wikipedia.org/wiki/Eurozone http://en.wikipedia.org/wiki/Eurozone), so even for some of your European customers the e
by workhere-io 13y ago
Only 45% of Europeans use euros (http://en.wikipedia.org/wiki/Eurozone http://en.wikipedia.org/wiki/Eurozone), so even for some of your European customers the euro is a foreign currency. If, on top of that, you have a lot of customers from outside Europe, I would say go with USD.
Having said that, I don't think you charging in EUR would be a dealbreaker.
- jontro 13y agoThanks. I wonder if there are studies in conversion rates when using different currencies...
- caw 13y agoI wouldn't be surprised if it impacts it a bit. While I wouldn't mind paying in Euros, my currency is USD. When I see prices in Euros, my first thought is "that's not actually that much, it's actually more expensive." Then I catch myself and go and covert the price to figure out how much it actually is. I have an aversion to fees though, and while I wouldn't mind buying the SaaS, I then have to remember which of my credit cards charge foreign exchange fees and how much they are, and then add that to the price of the service I'm buying. So I guess it depends on how logical your customers are, where they would stop in that thought process, or if they would care if your prices were 3.5% higher to them. EDIT: Also, on pricing I think maybe you should consider getting rid of the 0.99 cents on there. There's a bunch of logic in pricing, but I think in general $X.99 is what people expect to see, whole numbers is premium (think upscale restaurants), $X.95 is a bit better than $X.99, and then if you have an odd amount like $X.82 they would think it's discounted.
- jontro 13y agoThanks for the feedback! We are now trying out USD with the .95 price point instead to see if there is any difference in conversion rates.