When should I increase my prices?
Before deciding whether or not to increase your price, it’s important to weigh the potential revenue gain against possible member loss, and determine whether to offer existing members legacy pricing or apply the new pricing to everyone.
Whatever you decide, it’s important to communicate this change very clearly and with adequate notice. As a rule of thumb you should give at least 30 days for your members to evaluate their decisions. Be sure to communicate the value you add to reduce the potential for churn.
How to Change Your Membership Price
1. Create or Edit your Offer
How to: Go to Admin Settings > Payments > Offers
2. Navigate to the Tier you wish to edit and click "..." and then "Edit"
3. Change the price to your desired amount and hit "Save"
At this point, a popup will appear with the message "You're updating your subscription pricing".
In this popup, you can:
- Toggle whether to apply changes to existing customers (toggle is on by default)
- Set an effective date for when the price change will start
- Choose to send an email notification to affected members about the upcoming price change
Frequently Asked Questions
Will the pricing changes happen retroactively?
No, price changes only affect future billing cycles from the date you choose to apply.
When will my members be billed at the new rate?
Members will be billed at the new rate on their next billing date after the effective date of your choosing.
If one of my members was a legacy member on a monthly membership price, can they upgrade to the legacy annual price?
They will only be able to upgrade to the new annual price. They will only benefit from legacy pricing for the tier they originally paid for.