Chances are you've got a list of reasons why you're delaying the launch of a pricing model for your project.
But here's the catch: it's a common pitfall that most startups stumble into. Let me show you why getting the payment wall off the ground as soon as possible is the real game-changer.
And it's not solely about immediate return on investment!
I listed some concerns – Just before my summary.
The Key Challenge: Securing Viable Test Users
… and the validating that users are willing to invest in your offerings.
While your team might be passionate about your project, early-stage validation of its significance is imperative. It must deliver genuine value. Establishing a meaningful rapport with your potential users is crucial in understanding their core needs and prioritizing essential features. It's essential to recognize that only those with a genuine interest or immediate need for your application will offer sincere and authentic feedback.
The Mom Test – by Rob Fitzpatrick
They say you shouldn't ask your mom whether your business is a good idea, because she loves you and will lie to you. This is technically true, but it misses the point. You shouldn't ask anyone if your business is a good idea. It's a bad question, and everyone will lie to you at least a little. As a matter of fact, it's not their responsibility to tell you the truth. It's your responsibility to find it, and it's worth doing right.
Therefore, I recommend engaging with viable users only and investing time with them by…
Excluding The Moms And Implementing A Payment Wall As A Gatekeeper
… to ensure that only truly interested users have access to your MVP.
These users will actively provide feedback, offer suggestions, and engage with your platform, contributing significantly to your testing process. Others, who might blur your test results, are best left out. It's essential to question how they initially gained access to your system. Maybe your advertisement or your descriptions are portraying a project that is entirely different.
Avoid offering free trials or services for free if you ever intend to implement pricing models, unless you have an unlimited budget or an extensive reach akin to companies like Adobe or Google.
If you do – You won't know early on if they are ever willing to pay. A survey about what they would be willing to pay does not necessarily reflect actual willingness.
About Your Concerns And The Gatekeeper
… we'll explore the adjustments you can make to your payment wall.
The Gatekeeper, our payment wall acts like a doorman of a club. Exceptional guests might get a discount or walk in for free. If you found a bunch of viable test users, go ahead, let them in, you dont need to be fix with your payment wall.
Remember, you require viable users for your project's validation, making it the top priority. That in mind you'll be able to take conciderations similar to the points highlighted in the last section.
What screws can you turn – besite removing the paywall?
- The price
Yes, you're right. There is no point two or three. It has always been about the pricing. Providing a free version essentially means offering it for a price of $0.
You have the option to lower your price, even down to $1. Additionally, you can offer discounts in multiple creative ways. For instance, you can ask users to submit their student cards or contact your service for exclusive offers. Our primary goal is to cultivate commitment rather than generating significant revenue.
Moreover, you can explore alternative revenue streams. For instance, consider striking a deal with a university IT department, allowing students to access your IT app at a minimal cost. In return, the department will utilize their channels to promote your offerings and expand your user base.
Last Section – Perfection is out of place here
…although that is exactly what shines through in all of your concerns.
What are your concerns?
1. Code restructuring and a change in architecture are necessary – and the code isn't clean yet.
Considering the current state of your project, is it running smoothly? Would it be feasible to consider a rewrite later on, and if so, what's the estimated time required? Perhaps it is worth prioritizing the payment aspect first.
2. Our project is only really competitive and convincing when we have (weird number of) more functions included.
Really? Don't you have a landing-page? You could tease the upcoming features and their release dates, building excitement and even collecting email addresses for notifications. Literally even a few functions can flip a coin.
3. The design is still lacking that 'wow' factor.
Not important. Unless you are asking for an exceptionally high price or users are unable to find anything, it is not a significant concern and probably only a seeking for perfection.
4. It is not bugfree.
Well that might be a problem for banking transactions or where you destroying some external databases. You got the point. Major bugs need to be fixed. Just concider some bugs as releaseable and to be debugged on the fly. Mark your app as Beta, present your bugfixes and add notes into your terms and conditions for transperency.
5. A free version allows people to play arround with our app. We can convert them into paying users later on and at least we get some insights in how its beeing used.
All iam saying is: those customers still can do all of that after a little bit of commitment.
We both know that Google added the advertisement-free version of YouTube decades after launch. Do you have the resources for your project—maintenance, advertisement, customer support, and other resources—to keep your service alive and growing?
Summary
People delay launching a price model although it can secure viable test users. Those who doesnt just enter your free version without doing anything in there. The perfect time can be 2 weeks ago. Just reconsider your own considerations. You might surround them in a creative way and validate your product in earlier stages than you would expect.
You want to accelerate your Vue/Nuxt project? Reach out to us through https://nuxt.wimadev.de