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610 - Knowing Your Audience, Making Mistakes, and Pricing Products vs Services with Jack McDade
610 - Knowing Your Audience, Making Mistakes, and Pricing Products vs Services with Jack McDade
ratings:
Length:
43 minutes
Released:
Sep 10, 2019
Format:
Podcast episode
Description
Today’s co-host is Jack McDade. Jack is the founder and creator of Statamic, a CMS that makes building a website better and easier to manage. Jack created Statamic in 2012, and though it started as a side project, it has grown into a platform, community, and profitable company. He’s currently working on version three of the software.Jack started his career at an agency creating HTML templates and doing other work for large corporations. He slowly started to focus more on CMSs and WordPress development, before going out on his own almost a decade ago.n this episode, we dive into his approach and strategy on pricing products versus services. We talk about Jack’s pricing mistakes, the pricing parity, and much more around productizing your services.Jack is also a family man, and we talk about how becoming a father as affected him and his career."If you can speak to exactly the person you’re trying to reach, it will give you a totally different experience compared to a broad net where you’re trying to be something to everybody." ~Jack McDadeIn this episode Jack talked about:
How he got started in digital products and his path to Statamic.
His strategy for pricing products versus services.
The mistakes he made pricing Statamic and how he dealt with the fallout.
Main Takeaways
Don’t just copy what big tech companies are doing. Figure out how to speak directly to the customers that you have the answers for.
How your customers use the product and how you price your product need to be aligned. If not, customers will be incentivized to circumvent your product, or try to spend less money on it.
If you’re selling a digital product, be prepared to deal with customers in other parts of the world. You need to have a plan for how you will price your product for regions of the world with lower average incomes.
Important Mentions in this Episode
Jack McDade’s Website
@jackmcdade
Statamic
How he got started in digital products and his path to Statamic.
His strategy for pricing products versus services.
The mistakes he made pricing Statamic and how he dealt with the fallout.
Main Takeaways
Don’t just copy what big tech companies are doing. Figure out how to speak directly to the customers that you have the answers for.
How your customers use the product and how you price your product need to be aligned. If not, customers will be incentivized to circumvent your product, or try to spend less money on it.
If you’re selling a digital product, be prepared to deal with customers in other parts of the world. You need to have a plan for how you will price your product for regions of the world with lower average incomes.
Important Mentions in this Episode
Jack McDade’s Website
@jackmcdade
Statamic
Released:
Sep 10, 2019
Format:
Podcast episode
Titles in the series (100)
S01 E05-Convert 50% of first projects into second: This process can convert up to 50% of past clients into a second project by using scope creep to create new opportunities. by Live In The Feast