How to price your product?

I am building the subscription plans for my product

In the app, users can look for accommodations (colivings), so our plan is to charge them to appear in the app and edit their details, get notifications from customers, etc

We are thinking on adding 2 plans, one basic and a pro one with more features.

What is the best way to come up with a price for your product?

How did you choose the price of your plans?

@levelsio (and probably many others) likes to have 4-5 random prices set on his pages (only 1 price shows up at random every time an user clicks for "pro"). Then, he chooses whatever is the most popular.

Thanks @alvivanco , I had not considered that option actually. Will keep it in mind πŸ˜‰

Consumer apps are a little harder; I agree with @alvivanco and experiment as much as possible. The only thing that comes to mind is that you don't want to hinder growth because of paid features early on (hence why most consumer apps raise funding)

Thanks @klaaz0r for the comment, you are right that we don't want to obstacle the user growth, that's why we will focus on the coliving spaces and not the users for the monetization πŸ˜„

I don't know your numbers, so I can only make some guesses but what I would do is test payments for a small group of users. but keep it free for most. What I would want to know is if this is something people want to pay for. If yes, keep growing and keep it free (again this depends if you have enough on the supply side of course)

I think transaction-based pricing will be the best for your service, like AirBnB. Charge some percentage to the host and charge some percentage to the guest.

Thanks @hiro1107 , we actually plan to do that in the future through a booking system 😊