When selling a new WordPress theme or plugin, there are several different pricing models you can take. And if you choose to go premium, rather than free or freemium, you still have to decide how to handle billing cycles.
Many choose to offer annual and lifetime plans only, but this developer's experiments showed that for them, including monthly plans as well improved their sales – by a lot. Read more below.
This is the most expensive blog post I ever posted – it cost our plugin company over $2,000, and I’m not kidding nor exaggerating.
A few months ago, I decided to challenge our plugin’s pricing and try the “WordPress way” by removing the monthly subscription. Keeping only the annual and lifetime billing cycles.
We ran this pricing experiment for one week and saw a drastic fall in new customers. “Drastic” is an understatement – we lost 54% in our customer acquisition rate.
Read the full article: Careful! This Simple Pricing Experiment Cost Us $2,000 in Revenue