Hey there, 👋
Inflation…Inflation…Inflation - this has been the latest talk of the town - even within software circles. Recently, Slack announced its first-ever price hike (around 9%), since its launch in 2014. 📈
💡 Quick fact: 12 million people use Slack on a daily basis - much more than the entire population of New York City.
Now, SaaS pricing is a HUGE topic (more on this later, I promise!). So, I’m just going to explore a tiny part about when a product should increase its pricing.
In short, it's when:
Pricing has stayed the same for many years
New features that provide value to customers have been added
Product offers a high ROI
Clearly, Slack ticks ALL of these boxes! ✔️ Though there were mixed reactions, their users were largely receptive to the new pricing.
Today, Slack is much more than a messaging app for organisations. The company has been gradually adding new features such as huddles for quick audio chats, workflow builder and clips for screen recording. Basically, it has turned into your “Digital HQ”.
Just a year back, Salesforce bought Slack for $27.7 billion. So, could the pricing change also be Salesforce's effort to quickly get the most out of its investment? 🤔
Let me know what you think in the replies!
Until next time,
Product Marketer, Zluri