Hello Everyone,
I hope that you are doing well.
Over the past few weeks, I have been thinking a lot about the pricing for the tool we are building. We currently have monthly plans, and of course, it is not perfect. However, I am starting to believe we could be making more monthly from Lifetime plans /one-time purchase only followed by a referral system that is well planned.
Here is why I believe this, it is quite hard to get someone to subscribe to an app and remain subscribed. If it's only to get someone paying for a few months that's not really helpful either. This leaves paying a one time license, even if you offer different tiers.
To date, we have 1415 paying users. Close to 90% is for our Limited Lifetime deal we are doing with different sites.
As a transition, I was considering having Yearly + Lifetime. I believe we missed out on a fair amount of potential sales by focusing too much on a subscription model and I have a feeling this could help us keep bootstrapping the project longer.
Our pricing page: https://qlearly.com/pricing
Lifetime pricing idea:
Business: $28 to $39
Premium: $48 to $79
Enterprise: $78 to $99
I am curious to get your input?
Do you believe this could be a good way to go?
I know growing your MRR is important to many in this community, so this would be quite a different approach.
I would not even consider doing "lifetime" pricing. What is "lifetime"? How can that possibly be sustainable, unless you are already planning to shut the business down eventually? The only way that "lifetime" can work is when you regularly get new user signups and these users pay for existing users — in other words, a pyramid scheme. If your growth stops, you die.
Also, please note the irony of mentioning "lifetime" together with MRR ("recurring revenue").
Yearly plans are a very good idea, however, and I found that a 20% discount strikes a good balance.