Willingness to pay validation


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From your experience, in which steps of your product strategy, do you run the willingnes to pay validation?

 


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Following this to see if anything comes out of the community, but I guess - quick follow-up, do you find this to be the responsibility of the product manager, or just with the PM as an individual contributor to this process?

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@Michel Hauzeur for sure, this is a difficult point of our marketing strategy that we need to get right. We usually run it once we go into a post-MVP/validation stage with a small subset of customers. As doing it earlier might be inconclusive due to the nature of the feature still changing. And it also blocks our full launch/marketing release as pricing also needs to be implemented in our tool as well. 

I’ve also seen that a failure to do this research properly resulted in our key impact metric (MRR) to be negatively affected, as well as result in failure to align incentives with GTM teams. 

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Hi @Mmcclain

Thanks for your question. I think this is an activity that the team must understand, design, and test, but the PM must be in charge of analyzing the vision, financial, and user, among other perspectives

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Hi @Robert Smit,

 

Thanks for your comments. I did this question because even though that is an activity that we should be analyzing all the time. In the company I work for, we implement this activity in two main steps. The first one is when we validate the first hypothesis, and the second is when we already have an opportunity well-defined to test with users.

What are your comments about the way we are implementing this validation?

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@Michel Hauzeur Your approach seems well paced but how do you actually raise the topic with users? If a feature is comparable to what is already in the market you have a starting point. But more often than not I find myself having a hard time figuring out base-line pricing. We’ve tried interviewing our users’ and pitch them a business case that they can sell to their manager. But more often than not these interviews tend to resort to ‘gut-feeling’ analysis on the part of the interviewee. Any tips?   

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