Most of it learning came from listening to customers by doing calls with prospects. With Referral Rock we started out priced really low $49 per month, but that only lasted about 1 month before there was a $109 plan. If I recall correctly, we jumped to $150 for our cheapest plan within 6 months and made other changes to our model within the next year.
I was personally much closer to the customers at that time and had a good pulse of what would work and what wouldn’t.
After that time period I was off building the team and scaling what was working. This has led me to be much slower to adjust, but what we had was working well and had great unit-economics with the way we sold and serviced our customers.
I’m embarrassed to say we haven’t done enough on pricing lately. Currently I am going through some pricing and packaging changes. We’ve left a lot on the table in terms of expansion revenue and confusion with our current pricing and packaging. I wish I would have revisited this a couple of years earlier.