Has anyone had success raising the price of their SAAS?
I have a tool that just speeds up time writing automation scripts. Its a simple "this tool will make you 8x faster". For businesses this means the value can be calculated as (price of my service) - 7/8 * (hourly wage) *(time per month writing automation scripts).
Basic napkin math say you spend 1 hour per month writing automations - tests, scripts, etc., and your hourly is $50/hour. That means my product would save you $43.75 per month.
Currently, my product is $3 per month making it basically a slam dunk for everyone in my eyes. Because this tool takes a bit to get the hang of what I'm thinking is people see its $3 and don't want to waste their time trying to learn about (from their perspective) is low quality software. Another hunch that this is what's happening is I have littered everywhere in my product to "please provide feedback, etc." and since launch, not one single person has reached out to me, out of over 2000 users. I even added a tutorial which takes no more than 5 minutes maximum, and people still skip it and then uninstall.
All of these to me seem like clues that I am not charging nearly enough. Lastly, you may be thinking my software is just bad and I don't know it. I've thought about this too, but so far, I have 5 paying customers and they provide overwhelmingly positive feedback.
So, I'm thinking I should raise the price to say $20 per month. This way during the free trial people feel like they are getting access to something special, learn about it and then hopefully convert. Has anyone had a similar situation and if so, what did you do?