"Increase price" was the #1 feedback from alpha users
Hello everybody,
I recently launched pre-orders to https://uibun.dev and I got many early-access users and purchases.
Last month I spoke to multiple users that actively use UiBun and the top feedback from them was that the product was highly underpriced.
I was skeptical about increasing prices while the product was still not fully launched, but I decided to give it a shot by increasing the price to €149 for a week. And to my surprise, I started getting emails from multiple users requesting to provide access to the product at the previous price.
As a result of increasing prices, I now have more interest from the users and also generated new leads. So, I decided to revert the product back to the original price (€49) until Jan 10.
It was a good experiment that led me to understand the users better. I'll keep you posted about my future experiments and strategies with the product.
Interesting! I can share the same learning we had recently with the mentalport app
Great! Looking forward to it..
Most of the big companies are using these kind of strategies which called neuromarketing. I think, it makes something related with FOMO feels in our brains, when the prices increases. It may be useful to investigate further practical applications of this subject.
Yes, it's very interesting how people react to price increase. It creates a sense of missing out on offers which creates a sense of urgency to buy the product.
Recognising user feedback and making necessary adjustments shows flexibility Looking forward to hearing about your future endeavors.
Thank you so much <3 I'll keep posting updates
I increased the price for my design subscription agency https://www.pentaclay.com without getting a single client.
After the increase, I got 3 clients.
Don't get me wrong, price increase didn't get me clients, I felt super motivated after the increase and used write methods of marketing.
Oh yeah, being able to collect more money helps reach revenue goals faster, and ultimately help the product be built better
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absolutely!
Funny how the psychology of price increases works. Good call!
Oh yes!! Gotta see how I could get some eyes for my FOMO experiments
Sounds like you found yourself in quite a tricky situation. Hopefully you managed to come out of it on top!
Yes, ended up creating a UI for creating FOMO and ended up getting 2 more orders. Wrote about it here: https://indiehackers.com/post/fomo-design-helped-me-get-2-new-pre-orders-within-2-hours-5cdc4bde09