Consider a suitable pricing strategy

Process Overview

<p><span style="font-size:small;">Once you know your customers, you can price your product accordingly.</span></p><p><span style="font-size:small;">There are several types of pricing strategies:</span></p><h3><span style="font-size:small;">Flat-rate pricing</span></h3><p><span style="font-size:small;">This is the simplest pricing plan you can have. One product, one set of features, and one price. The only way this pattern is different from on-premise software is that it uses a subscription fee.</span></p><p><span style="font-size:small;">Despite its simplicity and seeming convenience, you will rarely see the flat-rate price among SaaS vendors. Guess why! It doesn’t allow them to target multiple buyer personas, limiting them to a narrow span of demographics, budgets, and company sizes.</span><a style="font-size:small;" href="https://www.grammarly.com/"><em><br /></em></a></p><h3><span style="font-size:small;">Usage-based pricing</span></h3><p><span style="font-size:small;">This model is the most common for infrastructure-based SaaS products that work with cloud computing, payment, and data services – basically whenever users must pay for the amount of storage, data, or transactions.</span></p><h3><span style="font-size:small;">Tiered pricing</span></h3><p><span style="font-size:small;">This strategy is the most frequently used one, and for good reason. It allows vendors to offer multiple packages, differing by price and features. Tiered pricing not only appeals to multiple buyer personas but also provides opportunity for customers who have outgrown their current plans.</span></p><p> </p>