Try A/B testing different pricing values and structures to maximize your revenue and to better understand what your customers want. By testing these changes in your pricing, you also mitigate the risk of huge user churn at once because of drastic changes.
Disclaimer: Changing and testing different pricing points can be tricky, so make sure to read all the tips before you go on with your A/B tests.
The most important rule that you should always follow. If your product/service is exactly the same, but displayed at a different price, your visitors are going to notice it and you can face serious consequences.
What you should do instead is offer two different plans at different prices to test if the more expensive plan is bringing enough value to your customers, potentially increasing your revenue.
Changes in your prices are one of the most sensitive aspects of your website, so you should slowly test increases in your prices. If there's no negative impact, you can freely test more changes and increase the prices until you find the winner.
When you're testing anything related to pricing changes, always measure revenue instead of your conversion rate. For example, you might sell less subscriptions, but your total revenue may be higher than before. If you measured just conversions, you would determine the test as unsuccessful, even though it brings you more money.
In this A/B test, you should introduce two different variations of pricing plans and compare how they perform - with one version being the more expensive. This will allow you to see if you provide enough value for the price increase to make sense. Also, avoid increasing pricing drastically. Instead, run multiple tests in a longer time span to determine the real winner and find that sweet spot for your users.
