Revenue Model

This past weekend our group went out and talked to more people about our service, showing them wireframes and explaining the finer details of the service. Most of the feedback we got was good. People were interested in what our service offered and could see themselves paying around $5–30 monthly subscription.

What we realized though, after our presentation, is that we should have determined a pricing for our service before talking to people, and then trying to validate that pricing hypothesis and seeing if people would be okay with that cost. One interesting thing that occurred however, was when we sent out a survey to professionals, asking how much they would need to be compensated in order to help out a curious student. We were pleasantly surprised to see that about ninety percent of our responders said they would be more than happy to help out without having to receive any sort of incentive.

I think part of the reason we did the revenue model after talking to people is because we felt that we were in a rush to do everything over the weekend. Next time, we’re going to plan out the whole week and try to determine how long each task will take so we don’t feel short on time again.