Adjusting the pricing for your web subscription service is a crucial part of managing your business. Whether you need to increase or decrease prices, understanding how to do it effectively can help maintain a positive relationship with your subscribers. Here’s a step-by-step guide to help you navigate this process.
Steps to Adjust Prices for Existing Subscribers
1. Navigate to the Subscription
Log in to your admin dashboard.
Go to the subscription section of your Admin dashboard and then select the specific subscription plan you want to adjust and click Edit.
2. Change the Price
Click on the “Change Price” button.
Enter the new price you want to set for the subscription.
You can either increase or decrease your pricing.
3. Choose Who the Change Applies To
New Subscribers Only: If you select this option, only new subscribers will be charged the new price. Existing subscribers will continue to pay the old price.
All Subscribers: If you select this option, the price change will apply to both new and existing subscribers.
4. Notify and Apply the Change
For existing subscribers, the system will automatically send an email notification about the price change. This helps make sure you're meeting regulation requirements for price changes.
There will be a 30-day waiting period before the new price takes effect. During this period, existing subscribers will be charged their original price. Once the 30 days have fully passed, the new price will appear on the next invoice. This may mean that they pay one more invoice with the older price point before the new price point takes effect.
Important Considerations
Trial Users: Subscribers currently on a trial will not be subject to price increases. You can apply price changes to them once they become paying members.
Annual Limit on Price Increases: Each user can only experience one price increase per year (365 days).
NOTE: It's not currently possible to increase prices for Mobile and TV App Subscribers. This feature is only available for Web subscribers. If you need to increase the pricing for your mobile or TV subscribers please reach out to OTT@uscreen.tv
Strategic Tips for Price Adjustments
Change pricing for existing customers differently than new customers: It's possible to set one price for existing customers and a different price for new customers.
Simply edit the price for Everyone and then once you have set that live, adjust the price again just for the new customers.
This allows you to set one new price point for existing customers and another new price point for all new customers.
Communicate Clearly: Always ensure your subscribers are well-informed about why the price change is happening. Transparency helps maintain trust and reduces the risk of cancellations.
Value Proposition: Highlight any new features, content, or improvements that justify the price change. Subscribers are more likely to accept a price increase if they see added value.
Timing: Consider the timing of your price changes. Announcing a price increase alongside new features or content releases can help mitigate negative reactions.
Monitor Feedback: After implementing a price change, monitor subscriber feedback closely. Be prepared to address any concerns or questions that arise.