Talk to users to find out if your better is also their better

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mstsumaiyaseop
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Talk to users to find out if your better is also their better

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Image source If, like Appcues, you’re increasing prices primarily for power users, that can have benefits. Wes Bush, the author of Product-Led Growth, explains: If you’re charging based on value metrics (i.e. the number of users, videos uploaded, or MAUs), your new pricing plan will charge your power users more while limiting the price increase for accounts that are not getting a lot of value from your solution. All in all, this reduces your churn with a price increase. 2. Close.io Here’s an email that Close.io sent, which increased their average customer lifetime value by over 10%. As their CEO Steli Efti noted.

When we increased prices, our conversion rates stayed the same, our customers stayed happy, we had a huge bump in paid seats.” email to customer about a pending price increase. In a previous Ecuador WhatsApp Number List article CXL published on raising prices, they identified one theme for successful communication (email or otherwise) that stood out more than any other: transparency. If you feel compelled to obscure the reason—or if it takes thousand-word essays and charts to justify it—that’s a sign you don’t have a strong case. Still, focusing on key points can help justify an increase: The length of time since the last price increase.

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The value you’ve added to your product or service during that time; If you have service limitations (e.g. consulting hours), the increase in demand. Conclusion While price changes are often “one off” events, few experts recommend treating them as such. Price Intelligently, for example, recommends reviewing your pricing every few months. Pricing, like a website redesign, may be best understood as an iterative, not radical, process. Regardless of your cadence, remember these four points: Make sure your “high value” features are high value for users, not just your product team. Consider the PSM model to find out how a proposed price fits into the broader market.
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