Increase the price of plans for existing customers

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sumaiyaseobd9
Posts: 130
Joined: Thu Feb 02, 2023 3:01 am

Increase the price of plans for existing customers

Post by sumaiyaseobd9 »

Allan Wille, recounted his experience with seasonal fluctuations in his SaaS business: With more data to compare, I can see evidence that there are seasonal fluctuations in our business. For example, this summer, organic traffic to our website was flat. And perhaps most telling, the percentage of daily active users (%DAU) of our dashboard was down. It makes sense … people are on vacation. Likewise, seasonality is evident at Christmas and New Year’s. There is a precipitous drop in activity on both those days. It’s clear almost nobody’s working. Similarly, Better Proposals’ founder Adam Hemphy shared how raising prices around a Black Friday deal wasn’t a good decision.

My advice would be to do a price increase when you don’t have anything else affecting it. In our case, doing it in February or March would have been a better immediate test for whether the price Croatia WhatsApp Number List increase was a good move or not. When users are active, you may even get unsolicited feedback that it’s time for a price increase. Buyer confessions If you’re getting comments from paid users like, “You could really charge more for this,” then it might confirm that your prices should go up—especially because they may be speaking for many paid users. But does that ever really happen It does.

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A paid user once told the Appcues team: You guys should find a way to charge us more $$$. $450 isn’t enough—we should be paying you well over $1k. They raised their prices soon after. Sarah Hum of Canny had the same experience: live chat customer telling company they should raise prices. If you’re getting comments like these from your users, it’s probably time to lift your SaaS prices. However, if you never hear from ready-to-pay-more buyers, take a more methodical approach with a competitor pricing analysis. Competitor pricing Competitor pricing and the Van Westendorp Price Sensitivity Meter (PSM) are two market-research strategies that can give your price increase a safe landing.
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