Tweaked pricing to reach a wider audience 🧐
by MickelWhen I first launched TAYL I aimed for simplicity (in terms of both development, but also for the user). While the launch was successful, the number 1 complaint was about the price being too high. This was expected, as I initially set a high price from the get go because I rather lower the price in the future than raising them.
Well, now it's the future and I'm lowering the price. Sort of. I'm introducing a new plan, called "Standard". It has exactly the same capabilities as the more expensive plan, but comes pre-loaded with 1/4th of the credits of the "Premium" plan. This still gives you 5-7 hours of audio each month, which will be enough for most. The system won't reject those who want more... they'll be able to continue to use up credits, but will be billed for the overage use by the end of the month.
I'm happy that I've now been able to make the service accessible to more people world-wide, while addressing the number 1 complaint/user feedback. 🙌
Already, without any marketing, 2 users have subscribed for the new Standard plan.
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Why would you rather lower prices than raise them? Just genuinely curious.
Lowering prices in the future will anger your earlier users. They paid more for the same service (unless you plan on refunding them?).
Also, many successful business gurus advocate for the exact opposite, to raise prices. Although what you did was introduce a new pricing plan, not really just changing the price.
Congrats on the new subscribers though!
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Good points!
Yes, the goal should 100% be to raise prices in the long run (inflation, added features and such). I'm talking about the very early stages now, when I'm still experimenting with different alternative to find a reasonable price the market is willing to pay for the product. I'm not a marketing research guy, I rather test it live on real users with a real product.
Of course I'd prorate/refund the difference if any existing subscriber would like to make the switch. Customer satisfaction is prio 1.
Thanks!
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This comment was deleted 7 years ago.
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Hi there. I use this https://github.com/braposo/react-text-loop
Good luck!
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