Product managers are responsible for developing and managing pricing models, which is a very important part of the product development life cycle.
For this reason, it’s critical that you choose the right pricing model in order to maximize revenue and satisfy customers’ needs.
Let’s be honest, looking at your product’s power usage patterns is probably not the first thing that comes to mind when deciding on your pricing model.
But if could be the key to find a way around many different pricing models and choosing the right one. After all, it comes down to matching the usage pattern, perceived value of your product, and the way users pay for your product.
It can be difficult to connect all those metrics, but there are a few ways in which analyzing power usage patterns can make deciding on the right pricing model easier.
To start, it would be good to consider what type of product you have and how often it gets used by customers. For example, is your subscription service, or an app more valuable than something like gym membership? Can you provide exactly the same or better value for less? The answers will help guide your decision when choosing between different types of pricing.