This is the question our customers have been asking us over the last three weeks. FullContact introduced a new basic plan for $99, then reduced the number of free API calls by 75%, then reduced our prices by more than 5X, then added a $19 plan and even an Unlimited plan!
Seriously…who the f*#k does that?
Well, we do. And here is why we did it.
Iteration Made Me Do It
As I heard from Aaron Batalion down at SXSW, “don’t hate, iterate.”
We needed to iterate.
FullContact initially introduced pricing based on established norms in the data industry. This is an industry in which contacts sell for $.10, $.20 or $.75 per based upon the quality of the contact. It’s an old industry that has been selling leads and contact info for a long time and is very comfortable in this model.
Unfortunately (or fortunately), this model is dying.
Data is cheap. And it’s getting cheaper. That is the world we live in. Every year the cost of data goes down. Anyone who tries to monopolize data (hello music and movie industries) ends up losing. The power now lies with those who know how to use the data or can serve it up with a great user experience.
That’s where FullContact comes in.
Breaking the Old Data Rules
We had to make a decision. Are we going to play by established “data industry rules” or are we an API company that’s going to serve developers? Sure, we had customers who would happily pay our prices. But, we also had a ton of feedback from the developer market that there was no way their end users would pay a huge premium for our service.
FullContact made a choice.
We are an API. We are the folks who know how to take all of that data and actually provide a service that is of value. Sooner or later everyone will find the data – it is those who can collect, collate, analyze, and serve up that data with a great UX that provide the real value.
Correspondingly, our prices needed to be set correctly so our customers could incorporate our API as a feature and not an entirely new premium offering.
Guess what Old Data Industry? The winds are changing. In today’s world, the value is no longer purely in the data. FullContact realized that and adapted.
Improvise, Adapt, Overcome.
Check out our new API pricing, sign-up for an API key, and get started today!