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Less paying more customers or more paying less customers? (alien.top)

submitted 1 year ago by sjkurani@alien.top to c/entrepreneur@indiehackers.space

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We are new to the industry and our competitors are charging 3x of our amount. So should we raise our pricing or continue with less pricing to accquire more customers?

I feel less is good, but feeling that are we loosing some amount where the customers are already ready to pay.

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[–] zer1-1@alien.top 1 points 1 year ago (1 children)

what is the reason behind your existing customer is using your product ? is it pricing or something else?

is your product equal or better than your competitor ? because when you close the price gap then customers will have one less factor to consider which is pricing between yours and their product.

[–] sjkurani@alien.top 1 points 1 year ago (1 children)

Per my understanding Yes it is pricing. Our customers want more in less amount

[–] zer1-1@alien.top 1 points 1 year ago

then may be you can reasonably increase pricing if it's required, or may be do A/B testing.

But since you seem to be in the startup phase, if I were in your place (even though I don't know what your product is), I would focus on acquiring more lower-paying customers. You can always ask them to pay more at any time. Once my product has a reputation on par with my competitors and achieves feature parity with them, then I would think about increasing pricing.