It's been already 1 month released Lineicons 3.0 ( https://lineicons.com/ ) after 10 days of public release I was kinda concerned as revenue was dropping dramatically and was in high doubt if I did something wrong with the new business model and pricing. Then, I posted on IndieHackers: https://www.indiehackers.com/post/selling-a-subscription-is-more-difficult-than-i-thought-6e033533d4 and got some really thoughtful responses.
After analyzing responses from the last post and discussing with my close friends from Ramadan Makers Community ( https://t.me/ramadanmakers ) I concluded that I have to create a balance between yearly subscription and lifetime plan.
After the pricing tweaks, and finishing my unfinished release-related tasks. I started getting satisfying responses from next day!. Sales got increased by 190% compared to last month! (it was -17% before I changed the pricing and created balance)
What I learned?
Since it was my very first experience selling subscriptions beside one-time purchase products, I was in doubt and concerned so asked for expert advice on open and closed communities and that helped. So, don't shy to ask for opinions and expert advice.
My main goal is now to add more value (as much as I can) getting a sweet spot for pricing is important but to make a sustainable and thriving product we have to keep adding values and work hard to make it better gradually.
FYI, We are launching on ProductHunt in next few days, you can subscribe to launch notification here: https://www.producthunt.com/upcoming/lineicons-3-0
My Twitter: https://twitter.com/MusharofChy