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Blake Smith

๐Ÿ‘ค Speaker
331 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Yeah, it's my opinion that elasticity tests, you really can't do at our scale scientifically.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

And so really, I think it's more of an art than a science.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

So what we did is we just looked at like other SAS products that our customers are paying for and said, what are they pricing at?

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

And like what?

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

I mean, for us, it was like a lot of the entertainment subscription types of Spotify or Hulu or Netflix or any of those.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Right.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Um, and so it's like, Oh man, like what are people paying?

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Uh, we also looked at kilo, which is a daily workout app.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

It pings you in the morning and tells you what workout to do.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

We ping you in the morning and tell you what to wear.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

So it's pretty comparable.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Um, and we saw closer to like that $8 mark, um, eight to $12 mark.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

We don't feel like we have probably not enough value for 12 at this point.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Um, so we're sticking with, I think we're doing 799.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Um,

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

Really, it was mostly just based on benchmarking.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

We're going to launch with that, grandfather all our old customers into their current subscriptions.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

We're not going to hike it on the people that are already paying.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

If we find out that that was a total disaster, obviously, we can revert back, but it's not really a test.

SaaS Interviews with CEOs, Startups, Founders
709: 17,000 Using This To Manage Wardrobe Efficiently

It's more like we're going forward unless proven otherwise.