Stand Out in the Market How to Price Your Product Competitively
25 May 2024 · 1 min
0:30
Jason M. Lemkin says price near your closest competitors, maybe 10-20% lower, but not cheaper. Going too low signals weak value and pushes customers away.
Jason M. Lemkin says price near your closest competitors, maybe 10-20% lower, but not cheaper. Going too low signals weak value and pushes customers away.
Go figure out the couple of products out there that are most similar to yours and charge the exact same way and either charge the same pricing or if you're nervous, charge a smidge lower. 10% lower, 20% lower. If you charge too much lower, you're telling the market you're not as valuable as Riverside, right? Or you're not as valuable as HubSpot. And you can actually customers will bounce off you if you're too cheap. If you're too cheap, they will get confused. So anchor around the comps.
