Subscription Sticker Shock: Should You Raise Your Prices?

Your publication doing the same.

That's probably the secret hack right there. Keep an eye on what Netflix is doing price wise. And every time Netflix increases their price, just increase your price.

Welcome to the Paywall Podcast, where we discuss paywalls and paywall strategies for news and magazine publishers. This episode of the Paywall podcast is brought to you by Leaky Paywall. Leaky Paywall is the most flexible WordPress subscription platform. Find out more@leakypaywall.com and now for today's episode.

Yeah.

Are you ready to talk about pricing?

Let's do it.

All right, let me share my screen here. I'm going to go with this guy and. All right, and then let's go. I was going. I was trying to find a title for this.

So.

How about subscriber retention versus revenue? Is it time to raise prices? Earning what you're worth. How to handle subscription price increases. Subscription sticker shock. Should you raise your prices?

Ah, that'll probably get more eyeballs.

Yeah. Yeah.

Or ears.

Yep. Money talks. Tackling the anxiety of raising your subscription price.

Okay.

Price increased decision, overcoming the fear of losing subscribers.

That's a big one. They all panic.

So the price increase decision, overcoming the fear of losing subscribers or subscription sticker shock. Should you raise your prices?

That one will get more.

Okay, let's go.

Let's go with that one.

All right.

That'll get their attention.

All right, cool. So thinking about raising your prices is a terrifying thought for all of us.

Right.

We've all been through it. We see our publishers go through it and what happens when they raise their prices, generally speaking. Actually, all speaking that we've seen that I've seen, nothing happens. So have you gone through any price increases with your publishers this past year?

Let's say, I would say probably close to 15 of them have gone up in pricing.

And did the world end?

No.

And maybe that's because people are used to things being a bit more pricey than they were before with this general inflation across the globe. So what's an extra dollar or two or five on my. On my subscription? I think people just expect that that's coming at some point.

Yeah.

It's also something we've seen across the board with other digital type services like Netflix and Hulu and all the others. So.

Right.

What's the difference with.

Right.

Your publication doing the same.

That's probably the secret hack right there. Keep an eye on what Netflix is doing price wise. And every time Netflix increases their price, just increase your price. Really? They got it figured out.

Right? Right. Yeah.

Yeah.

And you know, obviously the biggest fear that publishers have is that they're going to lose a lot of people or there's going to be a mass exodus or there's going to be a Washington Post style, you know, 200,000 plus people are going to cancel their, their subscriptions. That, that doesn't tend to be the case with, with local publishers. Even with regional publishers, maybe you lose 10 or 15 at most. But if you're, if your messaging is clear prior to doing this and you're telling people why you're doing this, why you need their support, it's not, it's not a big deal. And most people are happy to support you with that increase. And I've even seen some publishers tell me that they've gotten messages from people that hey, we're happy to pay even more than what your, than what your price increase is like. We love what you're doing, we want to support you. And so.

Right, right.

Just know this.

Yeah, that's a great point. A couple things there. One is the Washington Post, that was politically, weirdly politically motivated. That was just super strange. But as far as like paying you more, before I forget. So I, this week I was talking to a publisher and we're trying to keep the subscription levels really simple. So they only had two, two levels really, monthly and annual. But they realized that part of their crowd were happy to pay more to support their mission. And so we created a, they created a third, a third level which is essentially pay what you want or a donation based subscription level. They were very keen on, on doing that because they had, they're coming from a donation model right. Where they weren't really running paid subscriptions but they were taking donations and that was working well for them. And they were getting, they were getting some, you know, higher tier donations. So adding a paywall with sort of that standard monthly annual pricing plus the, hey, you know, really become a super supporter. Right. I don't know what they're going to call it is a good, a good combo to look at if that's the kind of publication you're running.

Yeah.

And those two things certainly can live in tandem. Like I think we get questions quite often. Should we do donations? Should we do subscription? Should we do memberships? Should we do this or that? Do them all and do them and do them in tandem. And you know, once someone becomes a paid subscriber, it doesn't mean that that's it and there's no other, you know, chance for you to continue a relationship and get even more from that, that supporter. Yeah, your paid people are, are worth their weight in gold and they're likely to give you even more money if you ask. Anyway, that's probably a separate podcast altogether.

That would be a good one. Yeah.

Yeah. So it is terrifying, though. It's scary to raise prices. I mean, I've gone through it many, many times in my career and always, you know, with, with thought in terms of the value you provide and with thought in terms of what your current pricing is, what your, what your competitive landscape looks like. Usually price increases go super, super smoothly now just to. And what we're going to talk about on this podcast is, you know, setting prices, raising prices, the value and discounts, pricing discounts. Just want to get that out there. So we, we know what we're. We're listening to and just to help make kind of settle fears a little bit. And we've gone through a number of price increases this year as well. They've all gone extraordinarily well. Really. Very little pushback. But I'm gonna just, just kind of single out the business journal here that we're looking at. So this is a, this is a B2B subscriber in the Youngstown, Ohio area. And they actually were running annual subscriptions. I think it was $29 per year was their annual subscription price. And when I talked to them, they said, yeah, we want to quadruple our pricing. We're going to go to $99 a year. Which, you know, to me, okay, yeah, that seems reasonable for a B2B publisher. But for them and their current subscriber base, that's a, That's a big jump. And they were, they were making it retroactive, too. So all their subscribers that were currently on the 29th, we're going to 99. Which now, now if you're used to paying 29 and all sudden your, your, your month, your annual bill jumps to 99, it might make you pause.

So.

And they have, you know, they have a decent size subscriber base. How many subscribers did they. Did they lose after they went through the whole retroactive repricing? I mean, you want to take it, you want to take a guess at the percentage?

No. Hmm.

Probably less than a percent.

Exactly. Bingo. Yeah, it was a handful. It was less than, less than, you know, ten fingers.

Right.

So if you're nervous about raising your prices, but, you know, and you feel in your gut that, yeah, it's probably time for a price increase, then it's definitely. Then you're overdue for a price increase. And that's. I've seen that over and over again. So I was talking to Rob at Daybreak here, who publishes the local news newsletter, and he hadn't raised his pricing in over two years for his newsletter sponsorship slot. And, you know, unsolicited, he was. He was mentioning, gee, you know, I was thinking about. I'm like, how sponsorship's going. He's like, yeah, good. Like, I'm all backed up, you know, got people waiting. I'm like, okay. And he's like, yeah, I'm thinking about. Thinking about raising pricing. And as soon as I heard that, I'm like, well, okay, so just do it. Because it's. It's simple. It's not even retroactive. It's just going forward. And one of the things that.

You.

Know, as far as, like, when and how to raise pricing, if you're.

You.

Know, we're in this business where pricing is, like, on a monthly level is pretty. Pretty reasonable, pretty discreet. You know, you're talking on the low end. I see 299, which is way too low. And. And you should not do. And on the high end, you know, in the. The B2B sphere, you might have a hundred bucks a month or something like that. You might be higher than that. But in terms of, like, average ranges, you're dealing with numbers like 29 bucks a month or 19 bucks a month or 39 bucks a month and something like that. So. So you have the opportunity to kind of ramp up your pricing every couple of years a little bit, right? You could go, let's say 10% every two years as a reasonable sort of price increase. Now, we've just gone through a lot of inflation, so if you haven't raised your price, like, do it now. Everyone is ready for higher prices. They just. It's just the world we live in, and we've had no inflation for decades. You know, literally almost no inflation for decades. We were due for inflation. Like, here came.

Okay, we're ready for it.

So how do you know when your price is too high? Like, that's the other fear, right? Like, oh, my God, it's going to be too high. Well, if you. If you incrementally raise your prices, what happens is you get feedback from your customers, in this case, your subscribers, right? And so, okay, the Business journal went from 29 to 99. They lost very few readers. Almost nobody said anything. What's the lesson here?

To just go for the price that you want? Like, yeah, don't incrementally do it over and over and over and over and over and over and over. Like, you should just rip the band aid off and go for the price that you need to do. That's why I take away from it because honestly, the more that you reach out to your, your subscribers and you keep telling them about price increases every, let's say every year, every two years, like, that might actually cause some friction.

It's true.

But if you're just like, if you need, if you need to go from $5 a month to $15 a month, do it and just, and don't worry about, you know, a mass exodus of people, I think you're more likely to see that if you keep, keep doing that every year. You know, you go from 5 to 7, 7 to 1212. But I mean, you work your way up. I think you have more risk if you do it that way.

Yeah. What you said is right on. Like, do what you need to do sometimes. And I remember going through this, it's like, hey, we need to hire somebody or we need to, you know, we need, we need just a higher revenue stream in order to essentially provide better service or provide a better product.

Right.

And so if you, if you, if you're, if you're in that position. Yeah. I mean, you, you really don't have a choice. You just gotta, you gotta do it. And there's definitely a cadence to raising prices. Like, if you do it every year, I think Netflix has been pretty aggressive about it. But if you're, if you're doing it every year. Yeah. People can get like, oh, my God, when are these price increases gonna stop? Every two years. That's sort of, you know, now they're not used to it every three years. You know, it's up to you, your audience, and what, what you decide makes sense. But the thing also that you keep in, you can keep in mind is you're going to get that feedback that I mentioned earlier and that feedback from your readership. They're going to tell you when you've had your, your correct pricing.

Right.

As soon as you hear complaints, like, you raise a price. Business Journal. I was going to say it was too low. Like, yeah, they made the jump. Nobody complained. Too low.

Right, Right.

That's my takeaway. It should have been, you know, now, of course, 29 to 99, that's a, that's a fair jump. And I think they, what they did was right, but I think what they set themselves up for is another price increase at some point down the road. Whatever they think makes sense, they should probably go to 1:25 or 1:49, something like that, like, make the next jump. And really, in pricing, when you get to the point where your, your customers, your subscribers are saying, oh man, it's getting expensive, but they're still paying you that you've like hit the magic number. Like, you're right where you need to be. Cause you need, you need to hear from some readers that you're, you're getting too expensive. Like, that's really where you. Then, you know, you're at that threshold of, okay, I kind of, I'm kind of at the right spot.

Right.

And then you can, it's, it's. And if you think about your, whatever business you're in, in this case, it's. You're. You're in publishing, think about additional value you can add to your, to your product, to your subscription to justify a higher price. You know, if you have to hire somebody, a new, a new writer, if you have to, you know, redesign your website for a better experience, or maybe you're, you're. You have a better newsletter system or apps or whatever it is, you're giving your readership, your subscribership more value. That's, that's the direction you want to go in. And then push your pricing up so it. Things just get better and better and better. And as you push pricing up, you'll find, you know, your profits will. Will, will grow as well.

Okay.

All right, that was a good rant. Let's let me go to my list here and take a look at what else. Let's talk about just actual numbers, like what should you price your publication at? I. This is a few years ago, but we had a, we had a publisher in the music space and they were, they were selling a subscription to downloadable independent music and pretty cool, actually. Like stuff you can't get on Spotify or Apple Music. Independent. Really interesting. Big, pretty big library of music. And you had to subscribe to gain access to these, to these files. So what did they do? They had a $1.99 per month price when they started. And what happens at. What happens with a $1 charge in stripe?

It's virtually all given the stripe.

Yeah, that's the problem.

Right.

So if they. Stripe takes $0.50 on every transaction plus 3% ish. Approximately. They were essentially making no money, zero money on the transaction. Now that's changed since then, and that's good. But if you're in a. And there's. We have another publisher that we're working currently that also needs to charge quite a. Quite a bit less to make it affordable for their readership. The simple thing you can do is stop charging monthly, right? So if you, if you do need to charge 299amonth, don't charge 2 9amonth because stripe's taking 50 cents off of that. That's a huge profit hit, right? Charge and 299 times, times 12 charge, you know, 29 bucks a year, right? Make it, make it annual pricing. Don't even offer a monthly because at $29 it's, it's profitable. You know, okay, stripe takes their 3% and their 50 cents. You're still making money on that. Plus you're also, you're, you're getting future money, right? You're getting that money put forward to.

You, which is, and it's easier on the subscriber not seeing, you know, a 299 expense every single month on their credit card statement reminding them that they're continuing to pay you every single month, giving them the perhaps nothing then to think about their subscription with you every single month.

Yeah, well, I would argue that seeing it every month too is like you kind of get, kind of get your blinder on. But I don't know, maybe in the interest of simplicity and like with a free registration funnel, which if you don't have a free registration running properly on your site, you need to do that as a, as a screaming emergency first priority, generally speaking, see other episodes for that. But yeah, the annual plan like dovetails perfectly with a free registration funnel. So you get folks some free access and then, you know, you get them on your newsletter and the newsletter drives them back to your content. You get targeted upgrade messaging and then over time they finally say, yeah, okay, I'm going to do it. And then, and what we find too is most people choose annuals anyway, annual plans. Even if monthlies are promoted aggressively, the annual gets more traction once the subscribers, especially in the news side, is ready to subscribe. On the magazine side, it's pretty similar. Like, especially if you're in the print, print world, stick with annual subscriptions, make it easier on yourself. Get that money and upfront and in.

General it's just way more predictable, right? You know what's coming. You, you don't have to like worry about these monthly small charges every single month. And at any point they might cancel. If you get them on board for the whole year, you can at least create some Runway for yourself and predict what, what's going to happen a little bit.

So yeah, no, the, the annual, the annual is the way to go. So on the B2C side, like business to consumer, if you're, if you're like in the local news space or you.

Have.

You know, sport sporting magazine or something in the consumer side, what price should you be charging for, for that subscription? On the, on the low end, I would say 4.499is your base per month, right? I've seen 299 and there's some, sometimes there's circumstances like your audience just can't afford it for whatever reason and you have to go to a 299 model which then I would argue just go annual. But the 499 is kind of the bottom end. Even where we live here in New Hampshire, which is fairly remote, our local newspaper for a Digital only subscription charges 15amonth. And they get it why? Because they kind of have a monopoly on our area. So where else are you going to get the local news? That's kind of where that falls into. So if you're in the B2C space on your monthlies, that's probably where you need to be. Annual pricing, you know, multiply by 10, you're monthly by 10. So you give a two month discount roughly. That's kind of, kind of where your annuals should be. You could bill that our local paper bills every six months and it kind of chunks down the amount to less than a hundred dollar charge. So I get the psychology of doing that. Since they're so aggressive on the monthly. What do you think? You think that's a fair strategy?

I would just go yearly. People are used to that, that term more than they are two times a year.

Yeah, it's a, it's a weird cycle. But in the B and the B2B space. Go nuts. Really. That's where you're dealing with money. So it's all about B2B is publishing content to help others make money. That's essentially what, where you are with business to business. So again, depending on your audience who's buying your subscriptions, they generally should be higher than, higher than the B2C space. So let's see, let's talk a little bit about Heisenberg report here. So Heisenberg is their financial publisher and he just went through a price increase. And the scenario here is kind of interesting. So right now what you're looking at is you're looking at a really good subscription page. There's two products on here. One is a $20 per month when billed monthly and then the other one is a 190 per year. Those are your choices. Do you Want to try it for, you know, go on the monthly and, or go 190 for the, for the year. All the content here is locked down. So it's a, it's a hard, it's a hard paywall. And he's built a really nice, strong, you know, a strong, loyal audience. And, you know, hey, I read this stuff. It's once in a while, it's really interesting. So financial reporting really falls into the B2B category. Now prior to this, he actually had, he had, we're talking about products. He had two products. He had a sort of the base basic premium subscription, and then they have premium plus subscription. If you look up here, you see this weekly plus. So this, this weekly plus was his like, premium, premium plus, higher, you know, more expensive level. And then he had his lower, lower level. The lower level was $9 a month and the higher level was $20 per month. So what, what he did is he, he's retroactively bumping everybody. He decided to simplify. He's bumping everybody to the premium plus plant. And it's his only plan today. What's. And, and I know talking to publishers that they do think about, wow, maybe we should have a higher tier plan.

Right?

And I'm not saying that's a bad thing because it might very well be a good thing. And you need to keep your products very different, right? Like, if you're, if you're offering something extremely different on your higher tier, then that makes sense. But if you're just offering additional content on your higher tier versus your, your regular premium content starts to get a little gray in terms of value.

Right?

And so what, what he did is he said, you know what, we're just gonna, we're gonna bump Everybody retroactively from $9 a month to, to $20 a month. Like you say, rip the, rip the band aid off, right? And then simplify the plans. Now if you. I, I wish I grabbed a screenshot of his, of his previous pricing page, but he had, I think he had like five different selections on the subscription page or something. It was, it was a lot to process. You look at it and you see all five big buttons and you're like, okay, well, what's, what's, what's what here? What am I, what am I doing? I will share that the, the premium plus plan, which was in place now, so we've been working with Heisenberg for years. The premium plus plan was, was in place for like a year or two, something like that, versus the regular premium, the lower premium Tier, which it been in place for maybe five plus years and more people with the choice of paying more, you know, or upgrading from the base tier to the premium tier. Most of the audience went with the premium plus tier, the highest tier. So in his case, the decision was, you know, hard but, you know, easier because the data was there to suggest. Okay, you know, obviously the majority of my crowd is willing to pay the $20 a month instead of the nine. But again, it's B2B.

Right?

I mean you're, you're helping people make money. You know, whether it's 9 or 20, if the value is good, probably makes zero difference.

Right?

So anyway, lesson here. Go for your price increase. Simplify your pricing. At the same time, if you have two tiers and they're not that different, merge them. Now how about if you, what is it? What is a different second tier? I will point as an example to one that's actually working well. And this is a, this is a news publisher, Swedish news publisher. And I'm going to hit get plus here and you're going to see two plans. So this is Samnit and se s a m n y t t se and they have two tiers. They have their regular premium tier at 69 crowns, Swedish crowns. And then they have their ad free tier Tier and it's 99, so 40% more expensive for the, the ad free tier. And they're getting over 10% of their subscriber base is paying for the ad free tier in their case. Now they, you know, they have pretty, pretty aggressive advertising on their site. Enough people will pay 40% more to not have ads on the site. They have a loyalty subscriber base and they've been running this for over two years successfully, which is, which I think is pretty interesting. So that the ad free plan, you know, from like a mental, like a, if you're thinking about it, it's just a, it's just different. It's very clear what you're getting extra. This is like, it's not like, okay, you're gonna get some extra content, but what is the extra content like? You don't really know what the extra premium plus content is. It gets a little murky. But in this case it's like, yeah, it's either you get all the content, but if you want the ad free, you know what you're getting when you sign up for that extra amount. And it just actually kind of blows my mind that people will pay so much more for an ad free experience. I mean, YouTube's doing it. And with their premium plan and I, and I pay for it because I can't stand the advertising on YouTube. So, um, that's something to consider if you're aggressively, you know, if you're aggressively advertising on your site.

Yeah, yeah.

And it doesn't cannibalize your eyeballs on the ads either. Just think about the price difference between the. The plan without and the plan with the ads. You're not gonna lose a significant amount of eyeballs or your advertisers. So I. That's usually the thing that publishers worry about the most is that they're going to, you know, lose all their traffic. And you won't. That won't happen.

So just see our previous. See our previous episode, I think.

Yeah, it's one of them.

Yeah, I think a pre. I think the previous episode 61 talks about traffic. SEO and traffic and paywalls. And just the short answer here, if you haven't listened to it, is if you have a free registration funnel where you're, you're gating your content early, like one free article, then you drop off your email address to get the next article. Get on the email newsletter. The every email address that you capture through the. Through that which will grow your list much faster than anything else, exponentially drives traffic from that reader. Right? So you get one person, new person on your list. And if you're a local news publisher and you're sending emails every week, well, that's five email new email blast to a new, you know, email address that's driving that person back to your site to see ads. Right. So. Or like, and for the free registered reader, they still see the ads.

The.

Like you said, Tyler, the paid subscribers is a fraction of your overall traffic to the site. So we see with the free registration funnel, we see traffic to the site just mushroom like exponentially as the email list grows. So you don't. Which, you know, not to go too far down, but you don't have to get so dependent on SEO or social marketing and all that because you're taking control and you're building your email list with the free registration. So there's, there's a public service message number two about the free registration setup.

Okay.

All right, where were we? So we're talking about products B2C and yeah. Make sure your products are different enough if you're going to have different pricing. Otherwise, keep it super simple. I mean, look at small boats. We talk about a little bit. So you hit their subscribe page, they have one price, it's annual recurring, it's 29.99. It's on the bottom, towards the bottom end of pricing. But it works for them to get very high conversion on this price. And you have, you have two choices. Well, you have one mental choice. It's subscribe, but then it's subscribe for me. Hit the subscribe button. The button right next to it says give a gift, subscribe for someone else. Those are two very different products. Easy to understand what they are. Yeah, it's either for me or a friend.

Right.

You're not, you're not making people make, make choices and. Oh, let's talk about pricing choices. Print versus digital. Before I forget. So that's the other thing is what, I get this question all the time because we deal with a bunch of print publishers. How do I price my digital subscription versus my print subscription? What's the answer?

Well, you know my, you know my opinion on this.

What's your, what's your opinion on this?

My opinion is to pretend you don't even have a print plan if you're, if you're going, if you're selling digital subscriptions. But I realize that's not something that most publishers are willing to do. If it's something you have to do and you just can't avoid it and you feel the need to sell that print product alongside your digital product. I would price them the same. I would price your print plus digital plan the same as your digital only plan. And watch what happens.

Bingo.

Yep.

Yeah. Yeah. I mean, back to the business journal here. If you look at their, the print, digital and the digital annual, they're both 99 bucks, same price and it's absolutely working for them. Look at some of the, you know, the Atlantic or some of the, the bigger print publishers. You'll see their, their pricing is the same. Why? Because it's not about the paper, it's about the content. People want your content. That's the value. Whether it's delivered via digital, via print or via smoke signal does not matter. They want your content.

Right.

That's what, that's the value. So line up. The pricing is the same. Just as a weird example, we worked with Modern Drummer magazine years ago for a number of years, and when they launched their digital subscription plan, they actually priced their digital at 60 bucks a year and their print and digital at 29 bucks or 30 bucks a year. So their digital was twice as expensive as their print and digital. You know that, that was sort of a brain explosion moment from me. But their digital director was pretty aggressive and wanted to make up the lost ad revenue from the print magazine through digital. They ran it for a year successfully, and it worked. They had about a 20% uptake rate on digital only, which was more expensive than print plus digital. So think about that.

Yeah, people were, sounds like people were actually paying more to not receive that print product on their doorstep.

Yeah, yeah.

Do I want paper in the house or not? I mean, that's really the decision. But don't, don't, don't make, don't complicate it with different pricing tiers when it comes to print versus digital or print and digital versus digital. Because now, now you're, now you're, now you're making someone think too much. And when people think, they get confused and they, they go away confused. A confused customer never buys. That's just the way it works. Okay, let's, let's see what else we got here. Talked about how many price levels you should have one ideally, and you know, iterate from there. We talked about products, different price tiers, keeping the prices simple. Go annual only if you can, especially if your price point is low. Let's see. Talked about an ad free plan. Oh, let's, let's wrap up on, on discounts. Why don't we, why don't we wrap up on that topic. How do you discount, how do you do a promotion at discount? And this is the, this is the, what I call discount danger. A lot of publishers, especially this time of year, the holidays are coming. You got Black Friday, Black Monday, Black Tuesday, Black Wednesday, Black Thursday. Every excuse under the sun to do a discount. You got Thanksgiving, you got Christmas, Hanukkah, whatever. You're, you got all this temptation. So what do you actually do? What, so Tyler, like, should, should I discount. Let's say I'm, I don't know, I'm running my, my $29 per year magazine here for how to build small wooden boats. Should I do a promotion? Should I, should I do a, you know, 50% off sale?

Absolutely not. The only thing that, that does is it devalues your content, it devalues the journalism. It's just not a great idea to. And I think that honestly I feel like this applies almost across the board for any kind of business. When you do these like deep, deep discounts once a year, people kind of see the true value of what, what you're making, what you're building and what you provide. So if, if it were up to me and you felt the need during the holiday season to do something, I would lean on more of like a Trial basis type promotion where you're giving away some free time. I, I talk about this with publishers all the time. Treat it like you're test driving a car, maybe give them a bit more time to check it out. But they're not seeing it as something that they're getting for free. It's. We're, we're, we're doing this trial. We're getting a little, maybe a little bit more of an extension to, to see what this is like. But we're not giving away the house for 50% off.

No, no, no.

Oh, the word you used, there was time. That is the right word. Yeah, I agree completely. You know, it's funny, you hear occasionally of. Yeah, they, they let me test drive the car and then I kept it overnight, you know, and, and you know, why, why do, why would a dealership do that?

Absolutely.

Why, why would they do that?

Yeah, they want you to experience it. They want you to try it out. They want you to smell the leather in the car. Like they want you to become familiar with the product in this case, a car. But in your case, in what we're talking about here, your content.

Yeah.

So.

Right.

Yeah. That's why they're doing it. So give an extended trial if you, if you feel the desire to promote or give some sort of discount.

Yeah. So here's, and there's a great example here. Sound reporter does this. We talk about this a lot because it works. But here's the promo. It's. It looks like one subscription card, which is brilliant. First three months for the price of one. That's the promotion. So to Tyler, to your point, they're giving away time. They're saying, hey, we're gonna give you three months instead of one. You're gonna get two free months. They're still paying. They're paying the $12 for three months, but then afterwards it's $12 per month. So they're not discounting the content, the value of the, of the, of the content at all. They're just saying, hey, we'll give you some more time.

Yeah.

Here's an extended trial. Try it out. And after three months, you're on the 12 bucks.

Yep. And if you're sharp eyed and you're watching this on video, the below the subscribe now button is choose a yearly plan and save 17%. Now they kind of snuck in a discount for the annual. Like, because annuals, you know, you get a little break for paying in advance. That's not devaluing your content. That's the way the world tends to work. And so what happens here, People find this, and more than half actually sign up for the annual plan, which is fascinating. So, yeah, all right, that's it for pricing. I think we covered a lot. If you're on the fence, if your gut is telling you, gee, I think I might want to raise the price, the answer is absolutely unique. You probably should have done it a year ago. Just do it. And if you. If you have questions, please reach out to us. Infoen101z e n101.com I look at all the emails that come in. So happy to check.

I can't believe it.

All right, Tyler, thanks.

See you later.

Catch you later. So if you want our help in actually developing benefits, copy for all your touchpoints and have us install it across your website. Just get in touch and let's. Let's talk about how to do that. It'll help convert subscriptions.

Thanks for listening to the Paywall podcast. If you'd like to get in touch to discuss subscription Strategy, go to LeakyPaywall.com see you next time.