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pricing strategy
Explore "pricing strategy" with insightful episodes like "Madhavan Ramanujam - How to Price Products - [Invest Like the Best, REPLAY]", "$100M Offers Audiobook Part 3 | Ep 581", "$100M Offers Audiobook Part 2 | Ep 580", "Listen to exactly 17 minutes and 42 seconds of this episode" and "How to price your product | Naomi Ionita (Menlo Ventures)" from podcasts like ""Invest Like the Best with Patrick O'Shaughnessy", "The Game w/ Alex Hormozi", "The Game w/ Alex Hormozi", "Nudge" and "Lenny's Podcast: Product | Growth | Career"" and more!
Episodes (21)
$100M Offers Audiobook Part 3 | Ep 581
“You can either be right or you can be rich.” In this episode, Alex (@AlexHormozi) discusses the Value Equation, a concept that can help businesses charge heinous amounts of money for their products or services. The episode includes tips on increasing the perceived likelihood of achievement, decreasing time delay, and decreasing effort and sacrifice to create more value for the customer.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Get your own copy of the book at acquisition.com/books
Timestamps:
(0:40) - Value Equation & Free Goodies
(9:59) - Dream Outcome
(13:20) - Perceived Likelihood of Achievement
(14:47) - Time Delay
(18:13) - Effort and Sacrifice
(20:18) - How the Value Equation is Used
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$100M Offers Audiobook Part 2 | Ep 580
“I hope what you're giving them is worth it.” In this episode, Alex (@AlexHormozi) the pricing and commodity problem that most businesses face, along with the importance of having a Grand Slam offer to differentiate your product based on value, not price. He also emphasizes the three ways to grow a business: get more customers, increase their average purchase value, and get them to buy more times.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Get your own copy of the book at acquisition.com/books
Timestamps:
(0:47) - Pricing The Commodity Problem
(16:37) - Finding the Right Market
(42:18) - Charge What It’s Worth
Follow Alex Hormozi’s Socials:
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Listen to exactly 17 minutes and 42 seconds of this episode
How to price your product | Naomi Ionita (Menlo Ventures)
Naomi Ionita is a Partner at the venture capital firm, Menlo Ventures. She started her career in engineering in 2002, shifted to product in 2006, and built product growth and monetization teams starting over a decade ago as one of the first PLG leaders in B2B. She was an early mentor at Reforge and her expertise is in building full-stack growth teams and cultures, launching new products, and helping existing products monetize and retain their users. Consider today’s episode a master class on monetization and pricing. We talk about common mistakes made by founders, specific experiments for how to determine pricing, and why initial growth sometimes comes at the expense of revenue. Naomi also introduces the concept of the Modern Growth Stack, how AI will play a role in growth, and what she’s most excited about for the future.
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Find the full transcript here: https://www.lennyspodcast.com/how-to-price-your-product-naomi-ionita-menlo-ventures/#transcript
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Thank you to our wonderful sponsors for supporting this podcast:
• Miro—A collaborative visual platform where your best work comes to life: https://miro.com/lenny
• Notion—One workspace. Every team: https://www.notion.com/lennyspod
• Vanta—Automate compliance. Simplify security: https://vanta.com/lenny
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Where to find Naomi:
• Twitter: https://twitter.com/npilosof
• LinkedIn: https://www.linkedin.com/in/naomipilosofionita/
• Website: https://www.menlovc.com/naomi-pilosof-ionita
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Where to find Lenny:
• Newsletter: https://www.lennysnewsletter.com
• Twitter: https://twitter.com/lennysan
• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/
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Referenced:
Disclaimer: Lenny is an angel investor in a few startups mentioned in this episode: Eppo, Endgame, Pocus
• Evernote: https://evernote.com/
• Figma: https://www.figma.com/
• The Van Westendorp pricing model: https://www.forbes.com/sites/rebeccasadwick/2020/06/22/how-to-price-products/?sh=7e6077f855c7
• OpenView: https://openviewpartners.com/
• SaaS business model at Profitwell: https://www.profitwell.com/recur/all/saas-business-model
• Envoy: https://envoy.com/
• Invoice2go: https://invoice.2go.com/
• Gas: https://apps.apple.com/us/app/gas/id1641791746
• Endgame: https://www.endgame.io/
• Pocus: https://www.pocus.com/
• Optimizely: https://www.optimizely.com/
• Eppo: https://www.geteppo.com/
• Amplitude: https://amplitude.com/
• Chargebee: https://www.chargebee.com/
• Zuora: https://www.zuora.com/
• Metronome: https://metronome.com/
• Orb: https://www.withorb.com/
• Monetizing Innovation: How Smart Companies Design the Product Around the Price: https://www.amazon.com/Monetizing-Innovation-Companies-Design-Product/dp/1119240867
• Ask the Storybots on Netflix: https://www.netflix.com/title/80108159
• Madhavan Ramanujam on Lenny’s Podcast: https://www.lennyspodcast.com/videos/the-art-and-science-of-pricing-madhavan-ramanujam-monetizing-innovation-simon-kucher/
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In this episode, we cover:
(00:00) Naomi’s background
(06:21) Why Evernote wasn’t able to leverage the kind of growth that Notion did
(08:06) What founders get wrong when it comes to monetization
(12:34) Which features to include in a freemium product
(13:22) Day one vs. day one-hundred premium features
(15:35) Matching price to value for optimal segmentation
(18:50) When pricing should be revisited
(19:38) How to determine price, and why it’s a good idea to have a cross-functional pricing team
(23:06) How to restructure pricing holistically
(25:58) How Envoy learned that they were undercharging
(28:39) The importance of experimentation
(32:19) How to balance growth with revenue
(35:12) What is the modern data stack?
(36:45) The modern growth stack
(42:22) The importance of experimentation in the growth stack
(42:59) Platforms for billing and monetization
(46:13) Why a hybrid model of pricing tends to be most used in SaaS companies
(49:01) Leveraging AI
(49:52) Lightning round
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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.
Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe
Startup Business Models and Pricing with Aaron Epstein | Startup School
One of the most common topics that founders ask us about is pricing and monetization. In this talk, YC Group Partner Aaron Epstein outlines 9 different business models, and highlights lessons from top YC companies on how to best monetize and price your product.
Business Model Guide: https://www.ycombinator.com/library/Gh-business-model-guide
Apply to Y Combinator: https://yc.link/SUS-apply
Work at a Startup: https://yc.link/SUS-jobs
Madhavan Ramanujam - How to Price Products - [Invest Like the Best, EP.298]
Financial advice for artists who think they're 'bad with money'
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“I turned my hobby into a jobby. Now, how should I price my products?” (Listener Intervention)
Scariest Decision I Have Made | Ep 343
Small tweaks + big changes = lots of impact! Today, Alex (@AlexHormozi) talks about the 2 moments where he had to make a big decision in which one gain a lot of profit while the other…did not. It’s all about selling with conviction!
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:19) - Sent mass letter: price increase for subscription with discount.
(5:07) - Offered 2 weeks free trial; ⅔ customers stayed after a month.
(7:05) - Higher value, higher price; lower value, no money.
(7:47) - 6 ways to increase LTV: price increase, cost decrease, upsells, cross-sells, downsells.
Follow Alex Hormozi’s Socials:
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3 Questions To asked Yourself For Product And Service | Ep 324
A change in perspective ain’t too bad. Today, Alex (@AlexHormozi) talks about the important questions to reflect on when you’re thinking about your business, providing value over time, and other practices the wealthy do!
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:03) - Check if product is talk-worthy
(3:11) - Key questions: Value, Profit, Customer Experience
(6:01) - Big vs small entrepreneurs: Product vs promotion focus
Follow Alex Hormozi’s Socials:
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My Worst Mistake | Ep 271
Sometimes, it’s not always about trying to conquer. Today, Alex (@AlexHormozi) takes us back to when he made one of the biggest mistakes in his entrepreneurial career and really shares the “losses” rather than always hearing the “wins” in order to give us more perspective about the industry.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(0:53) - Mistakes break you more than wins; Alex's company struggled with churn.
(2:56) - Idea of "more for less" cost Alex millions.
(4:46) - 3 Moral lessons: prices, raise prices, understand benchmarks and solutions.
Follow Alex Hormozi’s Socials:
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We Buy A Lot Of Christmas Trees
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Virtual Masterclass - Growing a Business in a Recession
This episode a little bit different to our usual podcasts because this audio is taken from a virtual masterclass session in which I deliver an hour of content to a zoom meeting of 60+ business owners sharing my tips and ideas on growing a business during a recession!
For more info head to https://jamessinclair.net/
Find us on Facebook https://www.facebook.
Connect with James on Instagram https://www.
Watch James’ Latest Business Vlog https://www.youtube.com/
#34: The Psychology of Price | Part Two
Margin Madness | Ep 219
Protect your profit! Today, Alex (@AlexHormozi) talks about a mistake that business owners constantly make when it comes to the pricing of their products or services, why it’s more important to learn the skill in sales, and how to strategically negotiate for discounts.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:00) - Alex shares story about co-worker's costly discount mistake
(4:04) - Improve sales skills, avoid fixed mindset and price changes
(6:16) - Know business costs, don't negotiate with "terrorists", protect margins
(7:38) - Learn to sell better, provide payment plan, protect margins
(11:20) - Alex shares secret to negotiating prices and discounts
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E1072 Ask Jason: Growing as a leader, managing more experienced employees as a young CEO, Consumer SaaS pricing tips, bull markets post-COVID & more
2:09 Luai: Is Uber still a hyper-growth company?
5:25 Weston: Advice on getting in front of/selling to startups/enterprises outside of our immediate VC network?
8:13 Martin: Do you have any resources, insights, or methods about how to get to the right price for a consumer subscription service?
12:58 Topher: What is a good shipping cadence for new code? How often should I be pushing code to production and releasing new updated versions of my app?
15:42 Delane: When you started your first business, what were your strengths/weaknesses as a manager/leader? What was young Jason like as a CEO, and how has he evolved into your current self?
19:28 Mary: In your early days, what was your leadership style towards people who were older/more experienced than you? What advice would you give a young founder for hiring older/experienced people?
20:57 Emily: If the worst of COVID has passed, what markets are you most bullish on Post-COVID? Where do you think we will see the most innovation going forward?
26:43 Danielle: What are some insights gained since taking your team fully remote?
35:15 Matt: Could you ever see an Uber/Lyft merger? What would need to take place for that to happen?
36:29 Chris: Would you rather invest in a high-growth, high-burn startup OR a moderate-growth, minimal-burn startup?
38:57 James: What software stack does LAUNCH use? Which apps are integral to your team's success and why?
The Value Equation - How To Reverse Engineer Pricing | Ep 181
"The more I see the big companies (…) all I keep seeing is how they focus on removing barriers, on how they focus on removing friction" Today, Alex (@AlexHormozi) discusses the value equation and how to increase the perceived value of a product or service by decreasing the obstacles and friction that a prospect has to go through to achieve the desired outcome. He emphasizes the importance of focusing on the bottom side of the equation and removing pain and decreasing the bottom line for customers to increase the value of the product or service.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:05) - Value equation has four pieces.
(2:23) - Detractors: delay, pull away from value charged. Actual time/effort.
(4:52) - Examples: Xanax vs meditation and Netflix.
(8:00) - Decrease time and effort to increase value.
(11:39) - Real value is removing pain, decreasing bottom side.
(15:04) - Differentiate value and squeeze time to win and keep customers.
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#6: The psychology behind effective pricing
The 6 things I would have told my younger self before opening up my first gym...Tactics & Theory | Ep 80
"You're probably not as good as you think you are." Today, Alex (@AlexHormozi) shares the things he wishes he had known before opening his first gym. He emphasizes the importance of prioritizing the customer experience and hiring an operator, and also provides tactical advice on pricing and scheduling.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:43) - Limit classes, set prices, open sessions when full.
(5:19) - Focus on customer experience, not just marketing and sales.
(11:38) - Hire detail-oriented operator to manage growth infrastructure.
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