ChatGPT Professional's Survey is Brilliant
Entrepreneurs and product managers can borrow from OpenAI's survey to learn how to price new products
Given the huge demand for ChatGPT, OpenAI released a survey for a new Professional tier of service. This survey is a great example of how a startup can discover how much revenue they might capture from their customers.
Price Discovery
As an entrepreneur, how should you price your product? Take a lesson from ChatGPT’s questions (full list below). By identifying where users would consider the price to be too expensive or too cheap (questions 5 and 6), OpenAI identifies the consideration zone. This lets the company focus on this area and adjust based on the company’s goals.
By asking when the user would start feeling like the price was perhaps too expensive (question 7), they identify the inflection point where the consumer behavior changes. The company’s pricing power is strong up to this inflection point and then reduces significantly after that point.
By asking when it would be a bargain (question 8), the company identifies the price at which point they can capture tons of market share if that was their priority rather than revenue or profit. There is a bell curve of user preferences that this survey aims to uncover. At this early stage, the company might be focused on market share in a Blue Ocean Strategy. If that is the case, expect the pricing to be on the lower end of the bell curve range to gather as much market share as possible.
If, on the other hand, revenue is the major emphasis, which is doubtful at this early stage and given the $10 billion in new funding raised from Microsoft, then expect pricing to land at the midpoint or just above it on the bell curve shaped by the survey data.
Survey Link
Here is the survey to join the waitlist.
List of Survey Questions
What's your email address (same as OpenAI account) *
What's your country of residence? *
How do you use ChatGPT? *
Personal
Professional
Both
Other:
Please describe the most valuable thing you use it for*
At what price ($ per month) would you consider ChatGPT to be so expensive that you would not consider buying it?
At what price ($ per month) would you consider ChatGPT to be priced so low that you would feel the quality couldn’t be very good? *
At what price ($ per month) would you consider ChatGPT starting to get expensive, so that it is not out of the question, but you would have to give some thought to buying it? *
At what price ($ per month) would you consider ChatGPT to be a bargain—a great buy for the money? *
Reach out to me when paid access becomes available*
Yes
No
Are you interested in deploying ChatGPT in your organization? If yes, please share the name of your organization.
How upset would you be if you could no longer use ChatGPT? *
Not upset 1 2 3 4 5 Very upset