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Seeking Wisdom with David Cancel

40: How To Price Your Product

Seeking Wisdom with David Cancel

Molly Sloan

Business, Entrepreneurship

5610 Ratings

🗓️ 25 October 2016

⏱️ 12 minutes

🧾️ Download transcript

Summary

If you liked this episode, we bet that you’ll love our blog content. blog.drift.com/#subscribe Subscribe to never miss a post & join the 20,000+ other pros committed to getting better every day. --- David shares a story about getting bills from two products (Slack and Trell), his reaction to both, and what it made him think about pricing. We talk about how we're thinking about pricing at Drift and aligning our incentives with our customer's success, plus David shares what he's learned about pricing over the years. Connect With Us #seekingwisdom Follow David (twitter.com/dcancel) and Dave (twitter.com/davegerhardt) on Twitter. Come hang out with us at seekingwisdom.io and on Twitter @seekingwisdomio. Learn more about Drift at Drift.com

Transcript

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0:00.0

Boom. Boom. Boom. Boom. You tee it up. Tee this one up. What are we going to talk about? We're going to talk about pricing.

0:10.6

Pricing. I can't believe we've gone like almost 40 episodes without talking about pricing. 40 episodes?

0:20.8

I think so. I think so. Damn. episodes without talking about pricing. 40 episodes? What?

0:21.1

I think so.

0:22.0

Damn.

0:22.3

We're getting up there.

0:22.9

We're getting up there.

0:24.1

Okay, yeah, so we've been talking about pricing a lot because we're a early stage company, but it doesn't even matter, right? Pricing is something that never goes away. It never goes away. So you don't want to hear us talk about that pricing is like a thing of now because we're going to be dealing them every month.

0:23.1

Every month. We're going to have another episode on this in the future. But we're going to talk about pricing now because it's something that we are thinking about all the time. And we find most product companies, whether the SaaS companies, hardware companies, info products, whatever they are, they're nonstop thinking about pricing and value.

0:55.5

So you felt this firsthand, and I want you to tell this story on the podcast.

1:00.6

This was a real thing that happened to us at DRIF with tools that we're using.

1:03.9

And you told it to us at a company meeting to kind of share like, you know, this whole

1:08.4

idea around pricing.

1:09.7

So I want you to share that story right now.

1:11.4

All right. So at next week, we're having our company meeting. And this story actually happened

1:17.3

on our last company meeting a month ago. So at Drift, we have a company meeting every month. We bring

1:21.8

the team together. We sit down and we go over what the good, the bad, what's happening. How can we

1:26.6

learn from from this and improve, right?

1:29.8

So we either win or we learn, right?

1:32.2

There's no losing.

1:33.0

We win or we learn.

1:34.3

And so I sat down and I wanted to come up with a story to talk about pricing and how I think

...

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