Building a tech startup and pricing it right can feel like being lost in a jungle.
You don’t know where to turn, what path is gonna get you out, and all you do is wake up in survival mode.
Don’t worry, I’m here to help. I’ve personally gone through every pricing and product pivot you can imagine.
Even trying hybrid approaches (e.g. marketplace with a monthly subscription).
But today, I’m joined by THE guy that can help you cut a clear path to pricing victory… let me introduce you to the guy I reach out to when making these big decisions.
My guest for episode #10 of Escape Velocity is Patrick Campbell, co-founder & CEO of ProfitWell.
In our sit down, we dive deep into the story of his company and explore his model for innovation and success. Fascinating stuff.
We talk about optimizing pricing, limiting churn, subscription growth and many more essential issues for all aspiring SaaS entrepreneurs… here are some of the headlines:
- ProfitWell & Price Intelligently
- Price elasticity & willingness to pay
- Finding your voice in a new medium
- Personalized video outreach
- Dealing with PR disasters
- Navigating the world of reviews
- Being ethical with your customer’s data
- Will every SaaS product have a free version eventually?
- How to raise your prices effectively
- Patience & the most charitable interpretation principle
Around the 17 minute mark, our conversation shifts towards media and content creation. Patrick really hits the nail on the head with the message: “We are all going to be media companies, on some level at some point.”
His idea rings true on many levels… the SaaS space nowadays demands having a vision, communicating with your customers and finding a way to stand out.
You can easily stumble into a cutthroat world where fighting for clicks, likes or retweets seems like the only way to get traction.
Don’t fall into this trap. Think long term! The only real asset you have is providing a valuable product/service to your customers.
Invest in something you are absolutely proud of doing. There is no better way to attract a following and remain true to the core values of your company!
I loved this whole conversation and walked away completely struck by Patrick’s wealth of knowledge…
Check out the full video here and drop me a comment below if you want to discuss pricing, generating value for customers, content creation, or any of the topics we cover!