The value of a feature determines its price.

This is the v2 of an essay I recently published under the title “Is the price right? Answering YES is yet another reason to know your users”. Unfortunately, the v1 lacked clarity, so I decided to rewrite it.

Estimated reading time: 2 minutes

A personal experience recently reminded me that price is a minor concern when a product answers people’s genuine needs.

Is $20/month cheap or expensive for a basic blogging tool?

The answer is: it depends.

I started using as part of a writing course. A free trial of the service covered the course usage. However, as the trial ended, I had to decide whether to pay $20/month or abandon the tool.

Now, what’s interesting is that I don’t need Typeshare; I have a blog.

It has one single feature of interest to me. With a click, I can generate an image containing the full text of my post to share on Twitter.

Is that worth $20/month?

It is to me.

I post daily, so the $20 covers an average of 30 posts, and to generate the image manually, I need at least 10 minutes. So that’s 300 minutes, or 5 hours, per month. If I did it manually, I’d be paying myself $4/hour, and that’s without counting how tedious it is.

I am sharing this because a month ago, looking at Typeshare, I’d never have paid to use the service.

When a tool answers a real need for a user, price elasticity goes through the roof.



Leave a Reply

Your email address will not be published. Required fields are marked *