Use Pricing Table to Define & Describe Your Product
While a Product Management Canvas is an internal-facing tool to describe or imagine your product, Pricing table is an excellent external-facing tool to describe or imagine your product. Let us explore why it so and along the way list some key things to talk about in a pricing table.
A Way to Describe Your Product
What if you had to make a single page product note or a pitch for your product? As an ideator and/or as a product manager, what all would you include in the product note to describe your product? What describes a product crisply?
Consider these:
Key features that make your product useful and valuable
Additional features that allow someone to use your product under some special circumstances and at scale
How much your product cost based on usage, audience or scale
All this presented in a pictorial/graphical manner
Easy way to buy the product
Isn’t that what a Pricing Table format (as made popular by WordPress and other template-based website builders), really is?
A Way to Imagine Your Product
If we flip the scene and instead of communicating about your product, you are planning to build a product. How can a Pricing Table help then? A pricing table forces you to:
Key features that make your product useful and valuable
Additional features that allow someone to use your product under some special circumstances and at scale
Allow a variety of users try your product based on usage, audience or scale at different price points
Present all this information in a very succulent in a pictorial/graphical manner
Above all, make it easy for someone to access your product with a low friction buying process
With the value prop and price next to one other, the pricing table forces the Founder / Product Manager to confront the question: For this, will someone pay this much?
If you have figure this out for your product, you have a path to success shaping up in front of you.
Feature Image Courtesy – Colorlib.com and In Article Pricing Table Courtesy – Ostinato.org
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