How we priced our product

How we priced our product the pricing series part 1 of 3 hi i'm Jen I'm the solo founder behind Lunch Money a personal finance management app we've been around for seven years we're bootstrapped and we are profitable before lunch money I ran a startup and we only had a free tier in the beginning we figured people would see value in our service and eventually pay what actually happened was those free users flooded our support inbox and they were so vocal about what they wanted and when the time eventually came almost none of them converted because they were already used to having access to us without paying so when I started Lunch Money I knew that all of our users had to be paying users at the time the biggest player in the space was Mint which offered a free but ad supported service a free product means you're the product and people hated it so going subscription made sense if this was eventually gonna become a stream of income for me, it needed to be steady I'm ready to launch and I have no idea what to charge I have three basic features importing transactions setting budgets and tracking recurring items but I don't have a mobile app and I thought for sure people would be turned off by the fact that we didn't have an iOS or Android app so I called the launch price "pre- mobile pricing" (real screenshot) Join our pre-mobile launch to lock in early adopter pricing! Pay $3 per month or $29 per year for a limited time only! Currently only available on desktop web, iOS and Android app coming soon. Your email address Start my 45-day free trial By signing up, you agree to our privacy policy. Prices are listed in USD. which was strategic it was gonna signal that a mobile app was coming soon and you should lock in now cause the pricing was gonna go up what ended up happening was people actually told me I wasn't charging enough and the mobile app thing? no one cared we actually didn't have a mobile app for the first five years the thing that I was most self conscious about at launch wasn't a deal breaker at all go figure that was just the beginning in part two I get into our pricing experiments what worked and what I would never do again