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Nate Franklin

AMA: Amplitude Director, Product Marketing, Nate Franklin on Pricing and Packaging

April 25 @ 10:00AM PST
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Amplitude Director, Product Marketing, Nate Franklin on Pricing and Packaging
Top Questions
Any advice for creating a pricing strategy for a value-based B2C subscription product for a brand new company?
I know what my competitors and similar products are charging, but I'm trying to figure out how to estimate conversion, churn, and customer lifetime for my product. We are a brand new company (so no existing branding or customer trust), we are B2C in the healthcare & fitness space, and we have a value-based product - i.e. not media streaming, or physical goods - like Medium. Any thoughts or resources about how to approach this analysis would be helpful. Thanks!
Nate Franklin
Nate Franklin
Hex Head of Product Marketing • April 25
Let me preface my response and say that B2C is not the bulk of my experience, but here's how I would approach it. You have to talk to customers. I would start by trying to understand what customers alternatives are to your product and how much time, energy and of course $$ it costs them. That'......Read More
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3 requests
I'm looking at a potential pricing + packaging re-vamp. I've identified the problems + opportunities and would love insight in thinking about whether to run in-house or hire a consultant. If a consultant, whom else have people worked with aside from ProfitWell and Simon Kucher? Ideally want to learn along with the project
Nate Franklin
Nate Franklin
Hex Head of Product Marketing • April 25
I've found that running a price / packaging revamp in-house versus with a consultant depends on three factors: 1. Assigning a DRI to lead the project and having a clear decision matrix 2. Ability to run a pricing study & impact analysis 3. Scope of risk of the change / ability to run pricin......Read More
899 Views
1 request
How many price points and packages should I offer customers?
Nate Franklin
Nate Franklin
Hex Head of Product Marketing • April 25
3 or 1. Please don't do more. Getting customers to spend money on your product is hard, don't make it harder by giving them too many options. Three is easy, standard, and just makes sense -- small, medium, large. One puts a line in the sand and you can capture more price sensitive customers with ......Read More
1149 Views
2 requests
What is the best approach for rolling out pricing and packaging changes? Especially increases in pricing or restrictions to features without angering customers?
Nate Franklin
Nate Franklin
Hex Head of Product Marketing • April 25
Let's just agree that no likes paying more for the same thing and no one likes having things taken from them. So your job is 1) to not let them see it that way, 2) decide a method for grandfathering customers in and/or 3) be willing to take a bit of PR hit. Regardless of what you choose, you need......Read More
953 Views
2 requests
How do you approach competitive intel for pricing?
Nate Franklin
Nate Franklin
Hex Head of Product Marketing • April 25
Competitive Pricing Intelligence is tricky because that information is often confidential so you cannot just go ask a customer or a partner for it. However, it's natural to come across it and there are some ways I've found to go find it. 1. Talk to your sellers. Customers (existing and prospect......Read More
1010 Views
2 requests