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> I'm a little confused on how you are interpreting the majority of your customers opting for discounted pricing as an indication that you should raise prices.
by throwaway_23124 5y ago
> I'm a little confused on how you are interpreting the majority of your customers opting for discounted pricing as an indication that you should raise prices.
The way I see it, most customers are happy enough after a 30-day trial to commit to my product for at least a full year. That's a good signal for loyalty and the product being worth it for the price. While I agree that the discount aspect is a signal in the other direction, I think overall it looks like people will continue to subscribe even if it's pricier. That's why I'm leaning towards increasing prices. I don't know much about businessy things and I'm learning as I go, so take my opinions with a grain of salt.
I've had some really good suggestions in this thread to talk to my most recent subscribers to really understand why they paid annually straight off the bat, so I'm going to do that first before taking any action.
- frombody 5y agoThe consumer's choice isn't always buying the monthly plan vs. yearly. It can also be yearly plan vs. nothing. You're trying too hard to extrapolate information from a single data point. You seem to be focusing on the yearly customers because you don't have the same mindset or budgeting habits. If it were me, I would be looking at the monthly subscribers. How long they sign up for, what the retention rates are like, how many switch to yearly, reasons people give for canceling, etc. I would be trying to find out why my product isn't good enough for people to be willing to commit to it in exchange for a lower fee. You've got a lot of good advice in this thread but you seem to be still seeing things from your own point of view.