OnDemand WTP Pricing Research

How Edtech Companies Should Go About Pricing Their Products | The Tech Edvocate

Landing a Whale

While you’ve put resources into market research, product development and curriculum expectations you may be missing a critical step. How you present your product to schools, parents, and teachers can be a major factor in its acceptance or rejection. What do we mean by this?

It’s simple. Pricing models have hurt edtech companies in various ways. The most significant flaw for pricing is lack of transparency. Companies who charge different base rates, and keep these figures hidden from potential clients, hurt the reputation of edtech. Edtech users often have no idea if they’re paying too much or getting a good deal. This lack of transparency in pricing causes everyone to feel like they’re getting ripped off.

Consequently, the advent of a pricing library in 2017, has shown districts the truth about their purchases. For some companies, this new development may be a hindrance to future success, but for those companies who provide understandable pricing models, it will prove helpful.

Meanwhile, edtech startups who are committed to providing value for their products and reliable pricing models will see an easier return on their investments. Once you understand the importance of transparency in pricing, you need to decide how to price your tools. The first step to this process is categorizing your product honestly.

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How Edtech Companies Should Go About Pricing Their Products – The Tech Edvocate.