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Why not grandfather current users in at the current price and only increase the price for new users? If you need to drop the price back down then drop the pric
by benlambt 11y ago
Why not grandfather current users in at the current price and only increase the price for new users?
If you need to drop the price back down then drop the price for all existing users too. If you're charging monthly this is easy.
- Vivtek 11y agoYeah, this would be my recommendation as well. Others have taken this approach and it just makes people like you even more because they get to feel like early adopters who are being rewarded - and you actually then lose nothing at all.
- steveridout 11y agoI always grandfather users. And it's easy when raising prices. The old users get to keep the old cheaper price and are happy. I was referring to the difficulty when I: 1. Raise prices too high 2. Conversion rate and revenue is harmed, so I then revert to the lower price 3. I now have a bunch of old users paying a higher price, and they might be annoyed when they see the price has gone down. At a minimum I'd need to alter their payment plans to give them the new cheaper price in future I guess it wouldn't be that difficult. Still, it wasn't long ago since the last price rise and for now I'd rather focus on growing and retaining the customer base.
- benlambt 11y agoYes, alter the payment plan. Old users find out their subscription price has dropped -- that's a happy surprise not an annoyance. Assuming monthly billing. Yearly might be more complicated; perhaps extend the subscription length.