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How to price your product | Naomi Ionita (Menlo Ventures)

12 Jan 2023 18 published claims 2 attributable people

Speakers in the public record

Claim mix

belief 5evaluation 4preference 3recommendation 2prediction 2uncertainty 1observation 1

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Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.

Claim ledger

The useful parts, with receipts.

18 published records

01 / recommendation

Recommends Monetizing Innovation.

“My buddy Madhavan from Simon Kucher's wrote a book called Monetizing Innovation. This is a great read. He and others there have done pricing engagements with hundreds of tech companies, so there's a lot of stories and practical tips there. I often gift that one to founders, so I can't do this whole talk without giving a nod to my friend, Madhavan, and his bible.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

03 / belief

I remember using tools like Mixpanel and Segment and even Jira to an extent where I was paying a cheap amount to get going, and all of a sudden I realized we had grown quickly and I looked at all of our SaaS spend and I was blown away by how much more we were paying.

“I remember using tools like Mixpanel and Segment and even Jira to an extent where I was paying a cheap amount to get going, and all of a sudden I realized we had grown quickly and I looked at all of our SaaS spend and I was blown away by how much more we were paying.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

06 / belief

I think another layer in the stack is experimentation. So this is really critical infrastructure, in my opinion, for these cross-functional product data growth teams to A/B test hypotheses and understand their impact on the business.

“I think another layer in the stack is experimentation. So this is really critical infrastructure, in my opinion, for these cross-functional product data growth teams to A/B test hypotheses and understand their impact on the business.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

07 / uncertainty

I don't know if it still is Gas, which is just like four people, and it's higher than TikTok and YouTube, and all the things, and Facebook, and it's four people.

“I don't know if it still is Gas, which is just like four people, and it's higher than TikTok and YouTube, and all the things, and Facebook, and it's four people.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

09 / observation

This prospect was really leaning in and excited about using Envoy, and the conversation shifted to pricing. So in that moment, because Larry was feeling some good vibes, he decided to 10X the price that he was typically charging people.

“This prospect was really leaning in and excited about using Envoy, and the conversation shifted to pricing. So in that moment, because Larry was feeling some good vibes, he decided to 10X the price that he was typically charging people.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

10 / prediction

So, let's hope everyone makes a little more money after today. And I've seen a lift upwards of 10X on revenue, but it's sometimes hard to parsh just the pricing change, because usually it can be coupled with big product changes, a rebrand, a lot of PR, the launch of a new plan, like a team or an enterprise plan.

“So, let's hope everyone makes a little more money after today. And I've seen a lift upwards of 10X on revenue, but it's sometimes hard to parsh just the pricing change, because usually it can be coupled with big product changes, a rebrand, a lot of PR, the launch of a new plan, like a team or an enterprise plan.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

11 / evaluation

I get so much value from it that I just feel obligated to pay." And take that in for a second, because if guilt is one of the main reasons why people are paying you, then your free version is too good, and you are leaving money on the table.

“I get so much value from it that I just feel obligated to pay." And take that in for a second, because if guilt is one of the main reasons why people are paying you, then your free version is too good, and you are leaving money on the table.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

14 / preference

There's also more room to handle the full monetization infra-layer. So for example, I like how Orb marries the billing component with the data infrastructure to actually inform what your pricing and packaging iteration should be and help you forecast and optimize revenue.

“There's also more room to handle the full monetization infra-layer. So for example, I like how Orb marries the billing component with the data infrastructure to actually inform what your pricing and packaging iteration should be and help you forecast and optimize revenue.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

16 / evaluation

You're missing out on critical feedback loops to understand what people are willing to pay. And you're shooting your future self in the foot because this is the other problem, is at some point you're going to start charging, and you're going to experience some backlash.

“You're missing out on critical feedback loops to understand what people are willing to pay. And you're shooting your future self in the foot because this is the other problem, is at some point you're going to start charging, and you're going to experience some backlash.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

17 / evaluation

It's really free money when you shine a light on an account that nobody was paying attention to and some inside sales team can drive a large account expansion. So I don't know what better ROI you should get than that.

“It's really free money when you shine a light on an account that nobody was paying attention to and some inside sales team can drive a large account expansion. So I don't know what better ROI you should get than that.”
Speaker
Naomi Ionita
Publisher
Lenny's Podcast

18 / preference

I really like that framework, because it's so straightforward and simple. As you use it, you'll need more enterprise features innately, because you're sharing it more widely.

“I really like that framework, because it's so straightforward and simple. As you use it, you'll need more enterprise features innately, because you're sharing it more widely.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast
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