Sep 12, 2019
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.
Going freemium.
Selling to Enterprise.
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!
--
Dan Martell has advised more startups
than his hometown has people and teaches startup founders like you
how to scale. He previously created, raised venture
funding for and successfully exited two tech startups: Flowtown and
Clarity.fm. You should follow him on twitter @danmartell for tweets
that are actually awesome.
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