Just wondering. I’m thinking maybe it would make things more predictable for everyone involved. No surprises. When my streaming service recently increased my annual price by a large amount, it made me think about this. Anybody have any good advice or experience with this?
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Are USD or EUR not concrete enough?
I’m sorry if I wasn’t clear.
I’m talking about the price change, not the unit of account. So, for example, a can of Coca-Cola cost $.50 five years ago, but it is $1 now and might be $2 in 2030. All prices are denominated in dollars, but the price changes.
Ghost expert Cathy Sarisky mentioned this issue in a useful post about ten months ago:
“Of course, just because you can do it, that doesn’t necessarily mean it’s great practice. If you are going to increase prices suddenly on your subscribers, you definitely need to be talking to them about it. Smarter people than me will need to weigh in on what’s the best way to increase subscription pricing without having a mass exodus of customers.”
I guess I’m just inviting people to weigh in on HOW to do this–either on the technical nuts & bolts of changing the price, or the question of how to determine how much to change the price and how to communicate this change to the members so that they feel they’ve been treated fairly.
Thanks.
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I can’t imagine that an automatic price increase (or decrease) would work without irritating/infuriating subscribers. Yes, inflation is real … but so are your subscribers’ feelings, and their impression of you.
I am considering raising my rates right now, but I guarantee that before I do I will talk with some of my most and least dedicated members, AND communicate about the (possible) change multiple times. (Remember the “tell them seven times” rule.)
So, TL;DR – it’s a bad idea, IMHO.
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