Articles by Brad Coffey
- Lessons From HubSpot: How to Overhaul Pricing in 3 Steps
HubSpot initially set prices arbitrarily as a startup but realized they needed to update pricing to match the value they delivered. They conducted a three step process: 1. Analyzing retention and competitor pricing 2. Getting feedback internally and from customers 3. Implementing with consistent meetings while having the right people involved. The contact feature pricing change was initially scary but worked out well due to their sales model. They grandfathered in existing customers to remain generous. The freemium sales product launched quickly with an autonomous team and shifted their frame of reference internally. The freemium approach has generated good NPS results and upgrade economics.