The Wallet Test
If you’re on the verge of launching a new startup or product you have to consider plenty of questions. Will people use it? Do you have direct competition? But the most important question to ask is this – will it make money? In this post on his blog, David Cummings explains how the Wallet Test, which is comprised of only one question, can give you a decent idea of what sort of startup revenue to expect in the future.
The value of your product, after all, is tied to the value it provides to your customers, says Cummings. It turns out that your revenue will be directly tied to how you drive theirs.
Photo by: 401(K) 2012
How did the team at SurveyMonkey know it was time revamp their pricing strategy? Find out which signals tipped them off and how they made it a success.
Mike Walsh, CMO at Reflektive, has gone through multiple pricing processes and has developed his own framework for assessing the situation and then developing pricing that is appropriate and effective. Learn more about his 4-step framework here.