It’s been just over a month now since the launch of our new membership plans and credit packs and its been interesting to see the response. One big surprise was the popularity of the credit packs. They were added almost as an afterthought at the very last moment but have been selling well.
Looking at the sales of both the plans and the packs, and from feedback from customers, we’re thinking of reducing the cost of the credits in the level 1& level 2 plans, and in the first 2 credit packs.
Our first paid version was the Pro version and this was $49.95 and the only plan available for a very long time – it is what we consider to be our ‘baseline’ plan. When we introduced the credit system we carefully analysed the activity of existing members and priced the credits such that those on the $50 plan would be able to submit as much or more than they had been on the Pro plan until then.
Then we added lower priced plans with more expensive credits, and higher priced plans with cheaper credits. But we think we may have gone a little too far from the baseline on the first two plans. On Level 3, which all existing Pro members were automatically migrated to, the credits are priced at $2.00 for 100 credits. The level 2 plan which is $25 per month, is twice as expensive with credits costing $4.00 per 100. Level 1 adds another 25% to that at a rate of $5.00 for 100 credits.
The level 1 plan at just $5 a month is a cheap way for new members to try out the tools but with only 100 credits to play with they don’t get much and we think we need to adjust that.
The New Plan Proposals
So what we are thinking is the following: lower the costs of the credits but increase the pack price of each by $5 to provide more credits (and to give us a round number to work with lol!). The new plans would be as follows:
Level 1 – $4.00 per 100 credits, Plan price: $10, monthly credit allocation: 250
Level 2 – $3.00 per 100 credits, Plan price: $30, monthly credit allocation: 1000
As these are significantly differently to the existing Levels 1 and 2, we would create new plans and not migrate existing customers. The existing plans would be renamed ‘Level 1a’ and ‘Level 2a’, and would no longer be available to new customers but of course existing customers could just keep the plan they were on or change to one of the new ones.
The New Credit Packs
Similarly, we also think we overpriced the cost of the first two packs so the following are proposed:
Pack 1 – $4.00 per 100 credits, Pack price: $15, credits allocated: 300
Pack 2 – $4.00 per 100 credits, Pack price: $30, credits allocated: 750
We would most likely offer a discount to existing members wishing to change plans if we decide to go ahead and implement them. Please let us know your thoughts!