Increase revenue by selling new features as paid add-ons
If one of your new features will only appeal to some of your users, try offering it as a paid add-on.
The only feature that ever significantly moved the needle for Josh Pigford of Baremetrics ($107,000/mo) was one that he made available as a paid add-on. He was frustrated that his new features never led to growth, but when he eventually launched one as an add-on, he saw a big increase in revenue. This tactic worked well with this specific feature because not everyone would have used it — if he had bundled it into the normal price, it may have gotten buried with the other features, and those who used it would have been undercharged.
More 30-second growth tips?
Every day we share a tiny, bite-sized tip for growing your business. Click here to see more and get Growth Bites in your inbox 👌
The only trouble with this approach it can be met critically. I think the add-ons work if they have a semblance of logic. Recently saw a website for roommates search that requires a membership to receive messages from prospects. That is just a money grab. I think the add-on should make sense according to the product.
Great point! It's gotta make sense, but if used well it can be really beneficial
This comment was deleted a year ago.
Nice, good luck! Hope it works well for you