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
