Chris Brisson

And what do you know?

Went up and so the big lesson there is like just start like increasing your prices and increasing your value So a couple pricing lessons learned Don't grandfather we did that and we figured out a way that how we can show our appreciation to those existing customers that came in and one thing that you can do it's sort of a technical issue, but you know, you can leave people within a plan and

But then as you're introducing new product and features, just feature gate it.

And so in order for them to get access to that, they have to then upgrade to that plan.

You don't want to keep giving them new stuff for 10 bucks a month when everybody else is spending 35.

Offer annual to lock in rates.

I'll show you guys a Slack example.

Slack right now, if you want to follow an awesome pricing increase, Slack is doing it right now.

Just model it.

It's awesome.

Offer annual to lock in rates for 12 months.

Basically, what this means is rather than go through all this complex stuff and this person's on that, just allow people to lock in a rate for 12 months to keep that price they currently have for 12 months.

And then after 12 months, they move into that newer pricing plans.

And also, too, it's great for cash because they're going to pay all up front.

and set a hard deadline.

Typically you'll see 90 days, we did like 45, and it worked pretty well.

So if you guys want to break out your phone, if you want to get Slack's example, I broke this whole thing down, documented it, so if you ever want to go through a price increase, Slack is doing it now.

I definitely recommend that you follow it.

And basically what they're doing is the exact same thing.

One, it's simple, and they just put you into an annual to lock in that rate for 12 months.