Major help needed with the pricing structure
Shabnam Katoch
8 replies
Hey PH fam,
I'm reaching out with a bit of vulnerability and a lot of hope. We launched Bodt AI Chatbot - (https://www.producthunt.com/prod...) with much enthusiasm. Our pricing model (https://www.bodt.io/#pricing) was a simple pay-as-you-go at $1 and an Enterprise option at $499.
The good news? We had a surge of sign-ups and traffic.
The not-so-good news? A significant number of users dropped off at the pricing page. It's been a learning curve, and we're eager to pivot and improve.
Here's where I need your insights:
Initial Pricing Feedback: If you had a chance to look at our initial pricing, what were your thoughts? Was there a specific reason that might have deterred you or seemed unclear?
New Pricing Structure: We're considering introducing a tiered pricing model with four plans - $19, $49, $199, and $499. Does this seem more appealing or clearer in terms of value proposition?
General Advice: Any other feedback, suggestions, or experiences you can share about pricing strategies, especially for AI-based products?
I genuinely appreciate the collective wisdom of this community. Last time was tough, but we're determined to learn, adapt, and come back stronger. Your feedback will be invaluable in this journey.
Thank you for taking the time to share. 🙏
Replies
Prem Saini@prem_saini1
Some recommendations from my end Concentrate on the value. Make certain that your pricing reflects the value that your product gives to people.
Provide a free trial or demo. This is an excellent technique to let users to experience your product before purchasing it and see the value it can bring them.
Consider a tier pricing structure. This enables you to provide several pricing choices to match the demands of different consumers.
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@prem_saini1 Thanks Prem, I really wanted to give a free trial for this product. But I have my apprehensions about it majorly because our chatbot is powered by OpenAI and we pay for their tokens as per our usage, so for free trial we'll have to bear the cost. What is your suggestion about this?
@shabnam_katoch Consider the cost-benefit ratio. During the trial, evaluate the possible savings from the AWS solution. If the benefits outweigh the OpenAI token expenses,
And there you go it might be a wise decision.
I agree with Prem, good point about a free/demo tier for people to have their hands on your product. And yeah, tiers can be a good way to go, because when you have to choose between 1$ and 499$ options it's not a vast variety, you know :)
I found that when I got given a couple of credits to use a new tool for free, I'm way more likely to convert.
I think its because you actually get to experience first hand the value that it provides before you pay
In the gaming world, it's quite similar – when players get a taste of a new game through a free trial or demo, they often become more inclined to convert into paying customers. It's the hands-on experience that showcases the game's value, making gamers more willing to invest in the full experience. This "try before you buy" approach can be a powerful strategy in both software tools and gaming to boost conversions.
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