What should I charge for my new software product at launch?
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I have a software product I'm launching in August.
I'm not sure how to price it.
THE PRODUCT is a database utility that does something simple and useful that corporations normally hire software developers to build from scratch. (I've spent 20 years building things like this for corporations.)
MY TARGET MARKET is technical people who work at corporations. It takes many weeks, months even, for a programmer to build this sort of thing from scratch, which costs thousands of dollars.
If my simple solution is adequate for their needs, I can save them a lot of money. So I'm thinking of pricing mine at $1000/yr.
However, I'm concerned that the $1000/yr price might be a turn off for managers and programmers who stumble on it and they won't even try it.
If I go $199/yr or $99/yr or $49/yr the problem is I could end up spending all of my time supporting a large number of small money buyers. Since right now it's just me and I have a day job (which I hope to quit if this thing does well), I don't think that makes sense.
Should I start selling my product at a low price ($99/yr) and see how it goes and increase the price until sales slow? Or should I stick with the "big money" $1000/yr price and not budge for a while?
THE PRODUCT is a database utility that does something simple and useful that corporations normally hire software developers to build from scratch. (I've spent 20 years building things like this for corporations.)
MY TARGET MARKET is technical people who work at corporations. It takes many weeks, months even, for a programmer to build this sort of thing from scratch, which costs thousands of dollars.
If my simple solution is adequate for their needs, I can save them a lot of money. So I'm thinking of pricing mine at $1000/yr.
However, I'm concerned that the $1000/yr price might be a turn off for managers and programmers who stumble on it and they won't even try it.
If I go $199/yr or $99/yr or $49/yr the problem is I could end up spending all of my time supporting a large number of small money buyers. Since right now it's just me and I have a day job (which I hope to quit if this thing does well), I don't think that makes sense.
Should I start selling my product at a low price ($99/yr) and see how it goes and increase the price until sales slow? Or should I stick with the "big money" $1000/yr price and not budge for a while?
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