MBA568 Q&A Weekends: Is dropping my prices on my SaaS product a bad decision?

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.9 • 1.2K Ratings

🗓️ 20 March 2016

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

So you've analyzed how your business has been doing and figured that you need to change the prices on your SaaS. Whatever your decision is, you would want to keep your existing customers in the loop. Whether you have to raise or drop your prices, your existing members should remain happy. Here are our thoughts on the matter, so press play!

Transcript

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0:00.0	Hey, welcome to the 100-arm VA show and today is a Q&A weekend's episode where we answer your
0:15.1	question right here on the show. If you have a question you want to ask just email us
0:18.6	over at support at business republic.net or you can send me a tweet on Twitter.
0:23.0	My handles Biz Republic, Biz Republic, Biz Republic.
0:26.0	As always, I'm your host, your coach, your teacher, Omar is in home.
0:29.0	I'm also the co-founder of the $100 MBA, a complete business training and community online.
0:35.5	You can check us out over at 100 MBA.net.
0:38.9	Today's question comes from Kyle and Kyle asks, is dropping my prices on my SAS product a bad decision.
0:46.4	Interesting question Kyle and I know what he's alluding to here.
0:50.3	For those who don't know a SAS product is a software as a service product.
0:54.6	This is a business model where you're offering a piece of software in the cloud for people to use on the internet.
1:00.6	A good SAS is a software like Acuity Scheduling. Today's sponsor.
1:05.0	They have a scheduling app right on the cloud.
1:09.0	And you can access that app wherever you go and you pay every month to use that app.
1:14.0	MailChimp is a good example of this as well.
1:16.0	Square Space, all these are great examples.
1:19.0	So why is Kyle concerned about lowering prices?
1:21.0	Well, usually you have customers that have paid a price before he lowered it. How does he deal with that situation?
1:28.0	And is it perceived badly for new customers when he lowers prices? We'll get into it in today's Q2D scheduling, our favorite
1:45.6	scheduling software. It makes it super easy for you to manage your calendar, but best of all,
1:50.1	it makes it easy for your clients to book you for your time.
1:53.0	The Cudy Scheduling sinks with your current calendar,
	...

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