HACKER Q&A
📣 keywordian

Ethicality of lowering price on lifetime plan with past customers?


I built an online tool recently and offered a lifetime deal for $199. Dozens of people purchased the tool.

After a couple weeks, I raised the price to $267. I had a few sales at that price point, but they've since plummeted. My last sale was about a week ago.

There are competing products that cost less, but they are of lower quality. I thought quality justified my higher prices, but the market doesn't seem to think so.

I want to bring the price back down to $199, but worry it will upset the customers who purchased at $267. Is there a way to decrease prices without having to refund the difference to a bunch of past customers?

Thanks!

  👤 caprock Accepted Answer ✓
What's happening here is a normal part of market participation. It's not unusual to try and change prices to optimize sales and product market fit.

Additionally, you don't necessarily know what the customer is thinking. For example, some of the lifetime purchases I've made are because I see a deal as well as a desire to support the person building the product.

To be fair I do usually see the prices increase over time, so I understand your concern. Even so, I don't think you should worry about this or take any pro-active action. It's your right to adjust pricing as you see fit. If it bothers you, have a plan in reserve to provide a partial refund if any customer asks what is happening. The reality is very few people will probably even notice.

👤 getwiththeprog
If they have bought a lifetime subscription they cannot really complain.

Either refund $68 them or lower the price and move on.

One scenario you have not mentioned is that it is not the price affecting sales, but that you have saturated your client base already.

👤 syndicatedjelly
Offer them a voucher for $100 off if they decide to renew their license. Own up and apologize for your mistake.
👤 rudasn
Maybe keep the new price and periodically run promos, discounts, etc at the old price.