Understand the market

Now, just because you're in the same market as your competition, it doesn't mean you have to copy their pricing strategy, nor should you look at competing on price. However, you should leverage the work that they've done to understand their buyers, and the psychology behind it.

Look at how they've segmented their customers (small, medium, enterprise ...). Understand how their pricing scales. Do they increase pricing based on:

• features
• users
• business size
• other consumption-based metrics

If there's a well understood theme across your market, you should probably consider adopting it.