10. The Rise of Trusted Guides: A Pricing Manifesto

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Hatched by Glasp

Sep 27, 2023

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  • 10. The Rise of Trusted Guides: A Pricing Manifesto

In today's age of information overload, people are constantly seeking guidance and expertise to navigate through the vast amount of data available. This is where trusted guides come into play - individuals who curate valuable information on specific subjects and share it with others. These guides differentiate themselves from collectors and coaches by openly sharing their discoveries and know-how without expecting anything in return. They build their knowledge primarily through experience rather than academic study and research, and their independence and credibility are maintained by not being employed by any particular company or organization.

Trusted guides are driven by a deep personal interest and passion for the subjects they curate. They strive to highlight and distill the most interesting, representative, rare, and unique aspects of a specific theme or issue. By adding their own viewpoints and disclosing their biases and interests, these curators offer a much more credible profile than the typical official, celebrity, or institutional spokesperson. Their key added value lies in their genuine and independent viewpoint, unaffected by personal or commercial interests.

In a world where brands, celebrities, and institutions have been found to lack transparency and honesty, people have turned to their friends and trusted contacts for news, advice, and updates. They prefer the recommendations of someone who has a genuine interest in their specific needs, without expecting anything in return. The rise of trusted guides is a result of this shift in trust and reliance on personal connections.

Now, let's shift our focus to the topic of pricing and its connection to the concept of trusted guides. The Pricing Manifesto emphasizes the importance of determining price based on the value created. Free plans that last forever may seem appealing, but they often create bad incentives and are not sustainable in the long run. Digital products that don't charge enough for their services may resort to selling customer data or ultimately shutting down. Neither of these outcomes is acceptable.

On the other hand, users on a free forever plan may be the least committed and provide the least value to the product. Their requests and feedback can dilute the product and ultimately harm the experience for those who rely on it the most. Higher prices, on the other hand, create higher expectations and lead to a higher quality product. Pricing should be focused on sustainability rather than relying on future salvation from venture capitalists or acquisition. Building a business that grows quickly without generating revenue can create bad incentives and result in a sub-par product.

Sunsama, a productivity product, charges a subscription instead of a one-time fee because it keeps customers committed to the product and ensures a continuous revenue stream for the company. Their goal is to make money from customers who genuinely love using the product every day. This approach allows them to focus on improving the product in meaningful ways instead of chasing new marketing fads. Rather than building a business off people's forgetfulness, Sunsama aims to earn customers' money only after they have fallen in love with the product as their daily planner.

In conclusion, the rise of trusted guides and the importance of pricing based on value created are two interconnected concepts that highlight the shift towards personal connections and genuine expertise. To navigate through the overwhelming amount of information available, people seek guidance from individuals who curate valuable content and provide independent viewpoints. When it comes to pricing, companies should focus on sustainability and creating a high-quality product rather than relying on free plans or future financial salvation. By incorporating these principles into their strategies, businesses can build trust, loyalty, and long-term success.

Actionable Advice:

  • 1. Seek out trusted guides in your areas of interest. Look for individuals who curate valuable content and provide independent viewpoints to help you navigate through the overwhelming amount of information available.
  • 2. When pricing your products or services, focus on the value created and sustainability. Avoid relying on free plans or future financial salvation, as this can lead to bad incentives and a sub-par product.
  • 3. Prioritize long-term committed customers who genuinely love and use your product. By building a strong relationship with these customers and continuously improving your offering, you can ensure a successful and sustainable business model.

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