About the pricing plan chart
Tiered pricing is a pricing strategy commonly used by businesses to offer multiple pricing levels for products or services. Each tier typically comes with a different set of features, capabilities, or levels of service — priced accordingly. The goal is to cater to a range of customers with varying needs and budgets, allowing them to choose the option that best suits them.
Use this pricing plan chart to identify core features that are essential for each pricing tier. Our template comes with three levels — Free, Starter, and Premium. For paid plans, you want to strike a balance between affordability and value. User feedback and market research are critical for fine-turning your pricing decisions.
Pricing is a dynamic aspect of your business strategy. Evaluate your plans regularly and maintain consistent communication with customers about pricing changes — this is crucial for building trust and transparency.
Best practices
Align each pricing tier with the value it offers to customers.
Understand customer segments Segment your customers based on needs, usage patterns, and willingness to pay. Identify personas or groups that have different requirements for using your product.
Bring in data Conduct pricing research and competitive analysis to understand how your pricing compares to similar products in the market. Collect feedback from existing customers and use this information to refine your tiered pricing structure.
Make it clear Transparency is key. Clearly communicate the value proposition of each pricing tier to potential customers. Make it easy for them to understand what they get at each level and how it aligns with their needs.
Get stakeholder input Pricing decisions often require cross-functional alignment. Invite colleagues to the whiteboard to add comments and questions.
Set a schedule for reviewing
As your product evolves and your customer base grows, pricing may need to change to remain competitive and profitable. While you should evaluate regularly, remember that consistency matters too. Excessive changes can lead to customer confusion.
