{"id":316,"date":"2018-02-13T14:49:02","date_gmt":"2018-02-13T19:49:02","guid":{"rendered":"http:\/\/blog3.canny.io\/wordpress\/?p=316"},"modified":"2023-08-24T15:01:45","modified_gmt":"2023-08-24T19:01:45","slug":"saas-pricing-lessons","status":"publish","type":"post","link":"https:\/\/canny.io\/blog\/saas-pricing-lessons\/","title":{"rendered":"SaaS Pricing: Lessons from 4 pricing&nbsp;changes"},"content":{"rendered":"<p>SaaS pricing can be tricky. We launched Canny almost a year ago. During that time, we reached <a href=\"https:\/\/canny.io\/blog\/saas-startup-ramen-profitability\/\">ramen profitability<\/a>. We also changed our pricing four&nbsp;times.<\/p>\n<p>As a bootstrapped startup, we needed to monetize from the start. Not to mention, paying customers is a great signal for product-market fit. We knew pricing would be essential to get&nbsp;right.<\/p>\n<p>But this isn&#8217;t a story about how we doubled our pricing and became an overnight success. In this post, I&#8217;ll go over each attempt, our mistakes, and what we&nbsp;learned.<\/p>\n<h2>Embrace the unknown<\/h2>\n<p>When you first start out, SaaS pricing is more of an art than a science. You don&#8217;t have enough customers to run A\/B tests, every attempt goes out to&nbsp;100%.<\/p>\n<p>That&#8217;s why it was crucial for us to talk to our initial customers during these experiments. We kept a pulse on their sentiment instead of making decisions on&nbsp;data.<\/p>\n<ul>\n<li>Are people willing to pay for what we&nbsp;offer?<\/li>\n<li>Are people confused about our&nbsp;pricing?<\/li>\n<li>What makes people hesitant to&nbsp;buy?<\/li>\n<\/ul>\n<h2>Attempt #1 (March 2017 &#8211; April 2017)<\/h2>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-322 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-1.jpg\" alt=\"Pricing Attempt #1\" width=\"2400\" height=\"1890\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-1.jpg 2400w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-1-300x236.jpg 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-1-768x605.jpg 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-1-1300x1024.jpg 1300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-1-152x120.jpg 152w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2400px; --smush-placeholder-aspect-ratio: 2400\/1890;\" \/>\n<h4>What we did<\/h4>\n<p><strong>Decided on prices<\/strong><br \/>A tad better than pulling numbers out of a hat: we chose numbers based on competitor pricing and our&nbsp;gut.<\/p>\n<p><strong>Priced based on a value metric<\/strong><br \/>For Canny, a feedback management tool, we landed on total number of users. Our thinking was: the bigger the user base, the more feedback they&#8217;d get, and the more they should&nbsp;pay.<\/p>\n<p><strong>Included a $2 plan<\/strong><br \/>We opted for a cheap plan instead of a free plan. The idea\u00a0was to avoid high support costs and weed out people who weren&#8217;t serious about using&nbsp;Canny.<\/p>\n<h4>Problems<\/h4>\n<p><strong>Unmeasurable metric<\/strong><br \/>There was no way for us to know the total number of users of a product. People who realized this signed up for the lowest&nbsp;plan.<\/p>\n<p><strong>Confusing value metric<\/strong><br \/>People didn&#8217;t understand what we considered a&nbsp;&#8220;user&#8221;.<\/p>\n<p><strong>Lack of focus<\/strong><br \/>This was our biggest problem. We made the mistake of trying to target B2B, B2C, and consumer companies. The use cases were drastically different so pricing was completely&nbsp;misaligned.<\/p>\n<h4>How we felt<\/h4>\n<p>Our launch went <a href=\"https:\/\/www.producthunt.com\/posts\/canny-3\">quite well<\/a>. It seemed like people resonated with what we were building. Still, there was a lot of confusion around&nbsp;pricing.<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-349 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-1.png\" alt=\"Confused users\" width=\"1303\" height=\"680\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-1.png 1303w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-1-300x157.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-1-768x401.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-1-210x110.png 210w\" data-sizes=\"(max-width: 1303px) 100vw, 1303px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1303px; --smush-placeholder-aspect-ratio: 1303\/680;\" \/>\n<p>On the other hand, we got messages about increasing our&nbsp;prices.<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-411 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-2a.png\" alt=\"Increase pricing\" width=\"1303\" height=\"681\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-2a.png 1303w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-2a-300x157.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-2a-768x401.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshots-list-2a-210x110.png 210w\" data-sizes=\"(max-width: 1303px) 100vw, 1303px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1303px; --smush-placeholder-aspect-ratio: 1303\/681;\" \/>\n<p>As we got more input, we were able to identify patterns that started shaping our target&nbsp;audiences.<\/p>\n<p>The $2\/mo plan was a bust. We expected way more people to opt-in. We ended up wasting time chasing people for what ended up being only&nbsp;$24\/year.<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-397 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/des-quote.png\" alt=\"des-traynor-quote\" width=\"1733\" height=\"524\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/des-quote.png 1733w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/des-quote-300x91.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/des-quote-768x232.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/des-quote-210x63.png 210w\" data-sizes=\"(max-width: 1733px) 100vw, 1733px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1733px; --smush-placeholder-aspect-ratio: 1733\/524;\" \/>\n<h4>Lesson<\/h4>\n<p>The more you narrow down your target audience, the better you can position your plans. When someone looks at your pricing page, they should understand which plan, if any, is for&nbsp;them.<\/p>\n<p>You can always expand your audience after you have a better understanding of the&nbsp;market.<\/p>\n<h2>Attempt #2 (May 2017 &#8211; July 2017)<\/h2>\n<img decoding=\"async\" class=\"alignnone wp-image-323 size-full lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-2.jpg\" alt=\"Pricing Attempt #2\" width=\"2400\" height=\"1970\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-2.jpg 2400w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-2-300x246.jpg 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-2-768x630.jpg 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-2-1248x1024.jpg 1248w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-2-146x120.jpg 146w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2400px; --smush-placeholder-aspect-ratio: 2400\/1970;\" \/>\n<p>We talked to many potential customers in attempt #1. That&#8217;s how we were able to hone in on our ideal customer and their use&nbsp;case.<\/p>\n<h4>What we did<\/h4>\n<p><strong>Chopped the $2 plan and added a custom plan<\/strong><br \/>The $2 plan made us look cheap. The custom plan adds flexibility and anchors us&nbsp;higher.<\/p>\n<p><strong>Lowered our user limits<\/strong><br \/>We learned in attempt #1 that Canny was less valuable for consumer companies. So we cut them&nbsp;out.<\/p>\n<p><strong>Added new limits<\/strong><br \/>We thought more limits would encourage people to&nbsp;upgrade.<\/p>\n<h4>Problems<\/h4>\n<p><strong>Unmeasurable metric<\/strong><br \/>We were still charging based on total users without being able to know how many users they&nbsp;have.<\/p>\n<p><strong>Ineffective plan names<\/strong><br \/>Your plan names should guide the customer into the right bucket. These names didn&#8217;t mean anything to our target&nbsp;customer.<\/p>\n<p><strong>Complexity<\/strong><br \/>We intended for the extra limits to push people into higher plans. They ended up pushing people away&nbsp;altogether.<\/p>\n<h4>How we felt<\/h4>\n<p>The lower user limits worked! While the plans were more complex, we started seeing more B2B and B2C companies sign up and&nbsp;convert.<\/p>\n<p>That said, over 70% of teams signed up for the lowest plan because of our confusing &#8220;end user&#8221; limit. We knew we still had to nail the right value&nbsp;metric.<\/p>\n<h4>Learning<\/h4>\n<p>Keep things simple. From the features available to the design of your pricing page. Customers shouldn&#8217;t need to spend time calculating what they might need. Avoid putting them in an analytical&nbsp;mindset.<\/p>\n<h2>Intermission: The Survey<\/h2>\n<p>A few months after launch, we reached 50 paying customers. After reading countless blog posts about SaaS pricing, we tried to use data to inform attempt&nbsp;#3.<\/p>\n<h4>What we did<\/h4>\n<p><strong>Ran a survey using the Van Westendorp method<\/strong><br \/>If you&#8217;re not familiar, this survey consists of four&nbsp;questions:<\/p>\n<ul>\n<li>At what price would you think Canny to be so expensive that you would not consider buying it? (Too&nbsp;expensive)<\/li>\n<li>At what price would you think Canny to be so cheap that you would question the quality? (Too&nbsp;cheap)<\/li>\n<li>At what price would you think Canny is starting to get expensive, but you would still consider it? (Expensive\/High&nbsp;Side)<\/li>\n<li>At what price would you think Canny to be a bargain\u2014a great buy for the money? (Cheap\/Good&nbsp;Value)<\/li>\n<\/ul>\n<p><strong>Analyzed the results (21 responses)<\/strong><br \/>Which ideally looks something&nbsp;like:<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-383 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/ideal-survey.png\" alt=\"Ideal pricing survey results\" width=\"1478\" height=\"682\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/ideal-survey.png 1478w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/ideal-survey-300x138.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/ideal-survey-768x354.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/ideal-survey-210x97.png 210w\" data-sizes=\"(max-width: 1478px) 100vw, 1478px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1478px; --smush-placeholder-aspect-ratio: 1478\/682;\" \/>\n<p>But here was&nbsp;ours:<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-381 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/our-survey.png\" alt=\"Our pricing survey results\" width=\"1478\" height=\"682\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/our-survey.png 1478w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/our-survey-300x138.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/our-survey-768x354.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/our-survey-210x97.png 210w\" data-sizes=\"(max-width: 1478px) 100vw, 1478px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1478px; --smush-placeholder-aspect-ratio: 1478\/682;\" \/>\n<h4>Problems<\/h4>\n<p><strong>Too few data points<\/strong><br \/>There was too much randomness, making our results&nbsp;unreliable.<\/p>\n<p><strong>Irrelevant sources = irrelevant data<\/strong><br \/>Half the data points were from people not in our target&nbsp;audience.<\/p>\n<h4>How we felt<\/h4>\n<p>While the responses were interesting, the survey itself was a waste of&nbsp;time.<\/p>\n<h4>Learning<\/h4>\n<p>We can see how a survey like this would be helpful further down the line. Back when we ran it, we couldn&#8217;t collect enough relevant data points for this to be conclusive. You&#8217;ll learn more by actually changing your pricing and talking to users at this&nbsp;stage.<\/p>\n<h2>Attempt #3 (August 2017)<\/h2>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-324 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-3.jpg\" alt=\"Pricing Attempt #3\" width=\"2400\" height=\"1297\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-3.jpg 2400w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-3-300x162.jpg 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-3-768x415.jpg 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-3-1800x973.jpg 1800w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-3-210x113.jpg 210w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2400px; --smush-placeholder-aspect-ratio: 2400\/1297;\" \/>\n<h4>What we did<\/h4>\n<p><strong>Cut down to a single plan<\/strong><br \/>We eliminated confusion about which plan to&nbsp;choose.<\/p>\n<p><strong>Large price increase<\/strong><br \/>We wanted to stress test willingness to&nbsp;pay.<\/p>\n<p><strong>Cut down to a single <em>measurable<\/em> metric<\/strong><br \/>No more complexity with several different&nbsp;limits.<\/p>\n<p><strong>Introduced scaling pricing<\/strong><br \/>We liked the idea of starting somewhere and growing with&nbsp;usage.<\/p>\n<h4>Problems<\/h4>\n<p><strong>Anxiety<\/strong><br \/>Our scaling metric is hard to predict, causing anxiety for potential&nbsp;customers.<\/p>\n<p><strong>High starting price cut growth<\/strong><br \/>We cut out early-stage customers who couldn&#8217;t afford this price&nbsp;point.<\/p>\n<h4>How we felt<\/h4>\n<p>We didn&#8217;t have to look at Google Analytics to know that signups plummeted.\u00a0Definitely due to higher prices and anxiety over scaling&nbsp;prices.<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-352 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshot-1.png\" alt=\"Anxious user\" width=\"1303\" height=\"263\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshot-1.png 1303w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshot-1-300x61.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshot-1-768x155.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chat-screenshot-1-210x42.png 210w\" data-sizes=\"(max-width: 1303px) 100vw, 1303px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1303px; --smush-placeholder-aspect-ratio: 1303\/263;\" \/>\n<p>But the companies that did sign up were bigger and more qualified. There were teams willing to pay the price and scale with usage! This attempt confirmed that we made the right decision by going after B2B and B2C&nbsp;companies.<\/p>\n<h4>Learning<\/h4>\n<p>In hindsight, this was an overdramatic and impatient change. But it worked out. Don&#8217;t be afraid to make drastic changes. Attempt #2 was too timid and gave us lukewarm feelings around&nbsp;success.<\/p>\n<p>While you&#8217;re making big changes, take care of your existing customers. If you&#8217;re raising prices, grandfather them to their current plan. If you&#8217;re lowering prices, give them some alternative&nbsp;options.<\/p>\n<h2>Attempt #4 (September 2017 &#8211; Present)<\/h2>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-325 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-4.jpg\" alt=\"Pricing Attempt #4\" width=\"2400\" height=\"1580\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-4.jpg 2400w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-4-300x198.jpg 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-4-768x506.jpg 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-4-1555x1024.jpg 1555w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-4-182x120.jpg 182w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2400px; --smush-placeholder-aspect-ratio: 2400\/1580;\" \/>\n<p>With three attempts under our belt, we felt confident going into attempt&nbsp;#4.<\/p>\n<h4>What we did<\/h4>\n<p><strong>Brought back multiple plans<\/strong><br \/>We created plans for each of our further developed buyer&nbsp;personas.<\/p>\n<p><strong>Tweaked numbers for a more generous scaling metric<\/strong><br \/>We reduced anxiety by scaling slower and showing a&nbsp;slider.<\/p>\n<p><strong>Hid features under a toggle<\/strong><br \/>To keep things clean, we only show the feature breakdown when you need&nbsp;it.<\/p>\n<h4>Problems<\/h4>\n<p><strong>Anxiety<\/strong><br \/>We stuck with scaling pricing even though it&#8217;s unpredictable. We know if we can pull it off, it&#8217;ll be a great way to offset&nbsp;churn.<\/p>\n<h4>How we felt<\/h4>\n<p>If we were pushing a boulder up a hill, this felt like the&nbsp;peak.<\/p>\n<ul>\n<li>We nailed our buyer personas and created plans for&nbsp;each.<\/li>\n<li>We defeated complexity with a single measurable&nbsp;metric.<\/li>\n<li>We lowered our starting pricing but kept scaling with&nbsp;usage.<\/li>\n<\/ul>\n<p>Qualified conversions were coming in and people were rarely messaging about pricing&nbsp;confusion.<\/p>\n<p>The best part: to this day, none of them have&nbsp;churned.<\/p>\n<h4>Learning<\/h4>\n<p>Your pricing will never be perfect. We&#8217;ve learned to see the tradeoffs and optimize for what&#8217;s important to our&nbsp;business.<\/p>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-417 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/tomasz-quote.png\" alt=\"tomasz-tunguz-quote\" width=\"1733\" height=\"688\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/tomasz-quote.png 1733w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/tomasz-quote-300x119.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/tomasz-quote-768x305.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/tomasz-quote-210x83.png 210w\" data-sizes=\"(max-width: 1733px) 100vw, 1733px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1733px; --smush-placeholder-aspect-ratio: 1733\/688;\" \/>\n<p>For us, attempt #4 attracts customers we want and supports the revenue we need to push&nbsp;forward.<\/p>\n<p>\u00a0<\/p>\n<h2>Why attempt #4 rocks<\/h2>\n<p>It definitely felt like we were making strides with each attempt but let&#8217;s see what the numbers say. Charts courtesy of our friends at&nbsp;ChartMogul.<\/p>\n<p><strong>Customers<\/strong><br \/>More expensive plans acquire fewer customers. Makes&nbsp;sense.<\/p>\n<figure id=\"attachment_419\" aria-describedby=\"caption-attachment-419\" style=\"width: 1733px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-419 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-customers-3.png\" alt=\"Customers\" width=\"1733\" height=\"688\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-customers-3.png 1733w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-customers-3-300x119.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-customers-3-768x305.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-customers-3-210x83.png 210w\" data-sizes=\"(max-width: 1733px) 100vw, 1733px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1733px; --smush-placeholder-aspect-ratio: 1733\/688;\" \/><figcaption id=\"caption-attachment-419\" class=\"wp-caption-text\">Customers<\/figcaption><\/figure>\n<p><strong>Average Revenue Per Customer (ARPC)<\/strong><br \/>What&#8217;s more exciting, is our ARPC. While we acquire fewer customers, they pay 4-5x more per month than when we launched. Our pricing changes had a direct impact on&nbsp;this.<\/p>\n<figure id=\"attachment_408\" aria-describedby=\"caption-attachment-408\" style=\"width: 1733px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-408 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-arpc-2.png\" alt=\"Average Revenue Per Customer (ARPC)\" width=\"1733\" height=\"688\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-arpc-2.png 1733w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-arpc-2-300x119.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-arpc-2-768x305.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-arpc-2-210x83.png 210w\" data-sizes=\"(max-width: 1733px) 100vw, 1733px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1733px; --smush-placeholder-aspect-ratio: 1733\/688;\" \/><figcaption id=\"caption-attachment-408\" class=\"wp-caption-text\">Average Revenue Per Customer (ARPC)<\/figcaption><\/figure>\n<p><strong><br \/>Churn<\/strong><br \/>Churn is a very important number to keep an eye on. Here&#8217;s what it looks like when we split our churn by pricing&nbsp;attempt:<\/p>\n<figure id=\"attachment_390\" aria-describedby=\"caption-attachment-390\" style=\"width: 1733px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-390 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-churn-rate.png\" alt=\"Customer churn\" width=\"1733\" height=\"688\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-churn-rate.png 1733w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-churn-rate-300x119.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-churn-rate-768x305.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-churn-rate-210x83.png 210w\" data-sizes=\"(max-width: 1733px) 100vw, 1733px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1733px; --smush-placeholder-aspect-ratio: 1733\/688;\" \/><figcaption id=\"caption-attachment-390\" class=\"wp-caption-text\">% Rate of Customer Churn<\/figcaption><\/figure>\n<p>Churn from our first two attempts is much higher. The reason: those plans attracted more startups. As a result, several customers churned because their startup was shutting down. Recently, we&#8217;ve seen bigger, more established, companies sign up. In several cases, they end up scaling and offsetting our&nbsp;churn:<\/p>\n<figure id=\"attachment_423\" aria-describedby=\"caption-attachment-423\" style=\"width: 1733px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-423 lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-net-churn-3.png\" alt=\"Customer Net Churn\" width=\"1733\" height=\"688\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-net-churn-3.png 1733w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-net-churn-3-300x119.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-net-churn-3-768x305.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/chart-net-churn-3-210x83.png 210w\" data-sizes=\"(max-width: 1733px) 100vw, 1733px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1733px; --smush-placeholder-aspect-ratio: 1733\/688;\" \/><figcaption id=\"caption-attachment-423\" class=\"wp-caption-text\">% Rate of Customer Net Churn<\/figcaption><\/figure>\n<p>High ARPC and low churn mean high customer lifetime value (CLTV)! As we continue building Canny, keeping an eye on our CLTV will be important for optimizing our&nbsp;spend.<\/p>\n<h2>Attempt #5?<\/h2>\n<p>We&#8217;ve been with attempt #4 for over four months now but we know this isn&#8217;t the end. As we increase value via new features, we want to increase our pricing as well. We want to reinforce that Canny is a premium product. So much of pricing is&nbsp;psychological.<\/p>\n<p>These are some experiments we&#8217;re&nbsp;considering:<\/p>\n<p><strong>Free plan<\/strong><br \/>Last year, we went to this talk by Nick at ChartMogul on why they went freemium. Depending on your strategy, going freemium might be a great way to grow. For a public-facing product like ours, more customers would boost word-of-mouth&nbsp;growth.<\/p>\n<p><iframe data-src=\"https:\/\/www.youtube.com\/embed\/3-pfajoXACc?start=12\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<p><strong>Startup plan<\/strong><br \/>When we started Canny, we wanted to be able to support teams of all sizes. Providing a generous startup plan would allow us to serve young&nbsp;companies.<\/p>\n<p>We&#8217;re already testing this out by offering it as a custom plan. If you&#8217;re an early-stage startup that would like to use Canny, reach out to learn more about our special&nbsp;pricing.<\/p>\n<p><strong>Better trial<\/strong><br \/>We started with a 30-day trial then we shortened it to 14 days. We aren&#8217;t happy with either.\u00a0Instead of a time-based trial, new customers should be able to onboard at their own pace. Only pay once you start seeing&nbsp;value.<\/p>\n<h2>There is no such thing as beginner&#8217;s luck<\/h2>\n<p>If we started this whole process again, we&#8217;d start with a single $50\/mo plan. It&#8217;s straightforward, giving no reason for&nbsp;confusion.<\/p>\n<figure id=\"attachment_373\" aria-describedby=\"caption-attachment-373\" style=\"width: 2400px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-373 size-full lazyload\" data-src=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-restart.png\" alt=\"First pricing plan\" width=\"2400\" height=\"1346\" data-srcset=\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-restart.png 2400w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-restart-300x168.png 300w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-restart-768x431.png 768w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-restart-1800x1010.png 1800w, https:\/\/canny.io\/blog\/wp-content\/uploads\/2018\/02\/attempt-restart-210x118.png 210w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2400px; --smush-placeholder-aspect-ratio: 2400\/1346;\" \/><figcaption id=\"caption-attachment-373\" class=\"wp-caption-text\">Keep it simple, silly<\/figcaption><\/figure>\n<p>Identify your target customer by talking to people and listening to objections, From there, price with them in mind, focusing on clarity and&nbsp;simplicity.<\/p>\n<p>Once you have a good foundation, experiment! For us, scaling on a value metric is working well. Our customers who get the most value pay the most each month. For you, per-seat pricing could make more&nbsp;sense.<\/p>\n<p>Pricing something you&#8217;ve put your heart into creating is tough and often emotional. Accept that your first attempt won&#8217;t be your pricing for long. Optimize to learn. If you&#8217;re in a similar boat right now, we hope this helps. Thanks for&nbsp;reading!<\/p>\n<div class=\"credit\">Header photo by\u00a0<a href=\"https:\/\/unsplash.com\/photos\/zijpPEZvyXk?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">MILKOV\u00cd<\/a>\u00a0on\u00a0<a href=\"https:\/\/unsplash.com\/\">Unsplash<\/a><\/div>\n<div>\u00a0<\/div>\n\n\n<div class=\"hs-cta-embed hs-cta-embed-127905612377\" style=\"max-width:100%; max-height:100%; margin:0 auto; width:650px;height:313.4505275px\">\n  <link rel=\"stylesheet\" href=\"https:\/\/js.hscta.com\/embeddable_cta_placeholder_v1.css\">\n  <div class=\"hs-cta-loading-dot__container\">\n     <div class=\"hs-cta-loading-dot\"><\/div>\n     <div class=\"hs-cta-loading-dot\"><\/div>\n     <div class=\"hs-cta-loading-dot\"><\/div>\n  <\/div>\n  <div class=\"hs-cta-embed__skeleton\"><\/div>\n  <picture>\n    <source srcset=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" media=\"(max-width: 650px)\" \/>\n    <img decoding=\"async\" alt=\"Form CTA\" data-src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/5705808\/interactive-127905612377.png\" style=\"height: 100%; width: 650px; object-fit: fill\" onerror=\"this.style.display='none'\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/>\n  <\/picture>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>We launched Canny almost a year ago. During that time, we reached ramen profitability. We also changed our pricing four times. Here&#8217;s a deep dive into each pricing change and the lessons we learned.<\/p>\n","protected":false},"author":2,"featured_media":371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-building-saas"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SaaS Pricing: Lessons from 4 pricing changes - Canny Blog<\/title>\n<meta name=\"description\" content=\"In under a year, we&#039;ve changed pricing for our SaaS product four times. 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