Sales and Retention Solutions Leader

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First, you can keep the original price for existing members but raise the price for new members. This can prevent existing members from canceling their memberships and if existing members cancel their memberships and then rejoin, they do not need to pay a lower price, thereby enhancing the group nature between members and the company. Second, you can find ways to provide more benefits to members and then add some new tiers to the existing price tiers. If members want to enjoy more benefits, they will have to pay a higher price. If you must increase the price of existing memberships, be prepared that there will probably be a wave of member churn and negative reviews.


Fengchao, which unilaterally announced "charging" during the romania whatsapp resource epidemic in 2017, was ridiculed and even spurned by the Chinese people not because of the price of a few cents but because of the rough implementation and selection of charging time without confirmation from multiple parties. The way to minimize this impact is to make price increases public and transparent; you can also add or remove services that allow members to order a la carte because people are generally not very sensitive to price changes in single transaction fees.How to reduce prices? Reducing prices seems easy, after all, people love discounts. However, there are some challenges to keep in mind when reducing prices.


First, it is difficult to adjust the price back to the original price once it is reduced, so make sure that the price reduction is the right choice. Second, the price reduction may symbolize a decrease in the value or reputation of membership. Finally, it is difficult and unethical to reduce the price for new members while maintaining a higher price for loyal old members. However, if your costs have dropped significantly or you are facing competitive pressure, you may need to reduce prices. You must make sure that the price reduction is in your favor. Even if you have millions of members, you should remember this because members have established a lasting relationship with you and expect you to clearly explain the reasons for the price change to them.