Step 0 : The alternate cost?

The substitute table for Kaagaz

Step 1 : Is our product monetisation ready?

1. Retention : Current retention rate is 30% , DAU- 300K, 250K users have signed up for data storage/ access to PDF tools

2. Deeper engagement :

30% power users, 30% core users, 40% casual users.

We are covered under case#2.

3. Willingness to pay : If the amount is a two digit figure (max Rs 99) with more features and storage, people are okay to pay.

Step 2 : Create customer segments

Step 3 : What's the perceived value of your product?

ICP 1: Students

They only use free tools and resources, looking for alternates and hacks to get the work done when you ask for money.

ICP 2: Entrepreneurs, Working professionals, Free lancers

They will pay for ease of use, better features. For them Perceived Value > Perceived Price. However pricing has to be reasonable (Max 99/annum)