3 ms·

Yep, seeing the effect of $.50 instead of $1 for trials when there are are lot more users & trials was really enlightening. I'll most likely do that. I could ev

Yep, seeing the effect of $.50 instead of $1 for trials when there are are lot more users & trials was really enlightening. I'll most likely do that. I could even not provide bank syncing for trials, or require a credit card. Will do something like that. Definitely going annual as well - tempted to go only annual, but we'll see.

juped 7y ago
Annual is unappealing to most subscribers - but some percentage will go for it if it's available. Like 10%ish (may vary but definitely a minority). This minority will smooth your cash flow quite a bit.
- SiVal 7y ago
  What evidence/reason do you have for the claim that annual is unappealing to most? (I'm not advocating anything here, I'm hoping to learn something.) I would assume the same thing if there is no discount (no compensation for extra risk and time cost of money), but I can only guess at how people respond to annual options with various discounts. Do you have anything more (including your own guesses)?
  - bretpiatt 7y ago
    One data point, for TeamPassword[1] we offer monthly and annual as described and about 1/3rd choose the annual plan. Would love to learn more data points to see how our mix is versus others. [1] https://www.teampassword.com https://www.teampassword.com
  - chiefalchemist 7y ago
    Has anyone ever tried: Annual plan only available after 6 months of membership? While I understand that sounds counterintuitive, if not odd, it: a) offers an incentive to stay. b) with that goal line in mind, the offer of annual when getting there has special meaning. As opposed to a random "you've stayed. You must be happy. Wanna go annual?" Again. I hear what you're saying, but in a nudge-y / Hooked sorta way it might work.
    - yskchu 7y ago
      Bloomberg (magazine not terminal) did that for me, annual plan wasn't available during sign up (though there was a cheap 3 month trial); after a few months on the full monthly plan, offered me annual plan at a discount. I took it.
  - juped 7y ago
    Putting a high sticker price in front of someone is another one of those speed bumps to conversion. As the proprietor you'd probably prefer them to go for $70/yr, but $70 is a big difference as an impulse or low-deliberation purchase from $7. I'm the annual-plan-buying type, but I'm atypical in a bunch of ways - e.g., I live in a high cost-of-living area so while I'm not actually a money-disregarding rich person, my impulse-buy range goes a lot higher. (annual = 10x monthly is very commonplace)

juped 7y ago

Annual is unappealing to most subscribers - but some percentage will go for it if it's available. Like 10%ish (may vary but definitely a minority). This minority will smooth your cash flow quite a bit.

SiVal 7y ago
What evidence/reason do you have for the claim that annual is unappealing to most? (I'm not advocating anything here, I'm hoping to learn something.) I would assume the same thing if there is no discount (no compensation for extra risk and time cost of money), but I can only guess at how people respond to annual options with various discounts. Do you have anything more (including your own guesses)?
- bretpiatt 7y ago
  One data point, for TeamPassword[1] we offer monthly and annual as described and about 1/3rd choose the annual plan. Would love to learn more data points to see how our mix is versus others. [1] https://www.teampassword.com https://www.teampassword.com
- chiefalchemist 7y ago
  Has anyone ever tried: Annual plan only available after 6 months of membership? While I understand that sounds counterintuitive, if not odd, it: a) offers an incentive to stay. b) with that goal line in mind, the offer of annual when getting there has special meaning. As opposed to a random "you've stayed. You must be happy. Wanna go annual?" Again. I hear what you're saying, but in a nudge-y / Hooked sorta way it might work.
  - yskchu 7y ago
    Bloomberg (magazine not terminal) did that for me, annual plan wasn't available during sign up (though there was a cheap 3 month trial); after a few months on the full monthly plan, offered me annual plan at a discount. I took it.
- juped 7y ago
  Putting a high sticker price in front of someone is another one of those speed bumps to conversion. As the proprietor you'd probably prefer them to go for $70/yr, but $70 is a big difference as an impulse or low-deliberation purchase from $7. I'm the annual-plan-buying type, but I'm atypical in a bunch of ways - e.g., I live in a high cost-of-living area so while I'm not actually a money-disregarding rich person, my impulse-buy range goes a lot higher. (annual = 10x monthly is very commonplace)