I understand that! But I did a price raise early in my newsletter, and I have a good amount of users still at the old price, however I am considering doing another one.
The thing that is interesting re: Price raises is you can actually say hey we are about to do a price raise, and that sometimes moves the incremental free user to sub and lock in an annual at a lower rate. I would do almost anything to see the reactions that the upsell of free > paid before a price raise.
I have thought about this. I would announce date itтАЩs going to. Maybe 14 days from the first announcement. Push this to all tour free subscribers. Send emails at 14, 7 4 and last day to get in at the old price. Inflation makes the argument easier plus add what else you might be doing to give value.
yep! I am also maybe going to try to launch a superset of my newsletter as a product if they offer a higher tier - think things need to happen on substack side for that to happen.
I've actually had very VERY little luck with this. It seems not to sway folks at all. In fact, the more low-key my "pitches" are, the better... it seems. :)
This is the kind of posts I really want to continue to see from Substack - good job!
Going to think hard about how I can apply this to my own newsletter.
Thanks, Doug! What do you want us to write about next?
How to handle price raises - best practices - what people do.
Also a discussion of churn?
ЁЯСА
The price is fixed unless they unsubscribe.
I understand that! But I did a price raise early in my newsletter, and I have a good amount of users still at the old price, however I am considering doing another one.
The thing that is interesting re: Price raises is you can actually say hey we are about to do a price raise, and that sometimes moves the incremental free user to sub and lock in an annual at a lower rate. I would do almost anything to see the reactions that the upsell of free > paid before a price raise.
I have thought about this. I would announce date itтАЩs going to. Maybe 14 days from the first announcement. Push this to all tour free subscribers. Send emails at 14, 7 4 and last day to get in at the old price. Inflation makes the argument easier plus add what else you might be doing to give value.
yep! I am also maybe going to try to launch a superset of my newsletter as a product if they offer a higher tier - think things need to happen on substack side for that to happen.
You can start an additional newsletter within what you have. I see it in settings but have not yet explored the option.
Sometimes a time limited discount is still perhaps the best pitch?
I've actually had very VERY little luck with this. It seems not to sway folks at all. In fact, the more low-key my "pitches" are, the better... it seems. :)
This has been my experience as well. Any sort of "flash sale" I've done has absolutely bombed.
That's good to know Alison, thanks for the tip.