There are a lot of different ways to set your subscription prices. While reviewing the competition and the prices they are charging is one strategy, it is by no means the most important. Companies today need to look at the customer and the value their service is providing to them.
When focusing on value, look at your product or service from the customers’ point of view and consider how useful they perceive the service to be as well as their budget and the price they’re willing to pay. It’s important to keep in mind that not everyone is going to be able to pay the same amount for a subscription service so having different options available is essential. More than that, throughout the life of the subscription customers are constantly evaluating the value they receive versus the money they pay and a decision is taken every time a subscription gets to the expiration date with the option to be renewed. This is one of the moments when having different pricing options in place hel...