In the last week, a number of founders reached out for the willingness to pay template we've used while building Schematic. Given the interest, we've decided to share it more broadly through a detailed blog post.
A customer's willingness to pay is at the core of every business model, but how to price & package is often unintuitive to founders and growth stage operators. The template provides a guide for how to have structured willingness to pay conversations with prospects & customers.
Key steps include:
🔹Product Presentation
🔹Value Proposition Discussion
🔹Relative Value Assessment
🔹Price Metric Identification
🔹Packaging Schema Evaluation
🔹Maximum willingness to pay
🔹Other factors that influence willingness to pay
In our experience, a solid approach to willingness to pay -- both when you're looking for product market fit, and when you're post PMF -- is a great tool for demystifying pricing & packaging & determining how much money your product can make.