The way Slack has successfully Rolled Out Their very first pricing change
It was in July that Slack introduced its first pricing changes since the company was established in 2014. Slack made the announcement of its changes to pricing through an article on its blog on July. The the changes to pricing were in effect from September.
In this post, we'll discuss the various methods Slack used to launch its latest pricing.
1. It is simply a way to indicate a growth in value
Slack announced its launch with a description of how they've enhanced the worth of their service. It immediately appeals to the people's trust in fairness. The Slack announcement isn't just a matter of increasing prices because of the rising cost of living , or inflation.
2. Aid in reducing the price increase (And your Pricing for Your Products in general) Easy to calculate
The application for messaging uses a seat-based pricing structure that allows users to see quickly how the cost increase impacts their expenditure. Slack raised their price $.75 per user per month for monthly Pro plan customers in addition to $.58 monthly with the annual Pro plan. If you are aware of the seats you're paying for , you can quickly estimate the price.
Slack took advantage of the occasion to improve its services for free by taking away the limitation on messages up of up to 10,000, and the 5 GB limit of storage for free plans, and restricting the access period for 90 days.
Kurt said that the initial rules were not able to help teams to know which points they'd reach threshold. "Now I'm contemplating "Okay this is it, now I'm done. I've got the 90-day period in case I want to preserve that record. Now I'll have upgrade to a paid plan."
Kurt explained how the simple pricing model makes it simpler to grasp the idea of pricing. However, it also makes it easier to sell the concept "When you determine your pricing on your perceptions of customers who say, "I'll need to utilize the Excel calculator to figure out what the amount will cost does it?' That's not a good concept. It slows down conversation."
3. Keep track of the world's users
Slack announced price hikes in US dollars, but also included the option of easily comparing the prices of different currencies.
If you deal with clients who have different currencies to your own, make sure to let them know about changes in these currencies to ensure they have a simpler time calculating the price.
4. Encourage loyalty among customers
Slack has offered to increase their rates currently for users who renew their plans early to allow them to renew the duration of their plan by an extra year. They even provided incentives to change from a monthly service to an annual one.
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