Considering changing your team's pricing? Read this first!
When you change pricing for a Marketplace team, this does NOT adjust pricing for athletes who have subscribed prior to the change. This includes athletes who are already enrolled in a trial.
The updated pricing will however be in place for any new sign-ups. In other words, athletes will receive the rate that is displayed when they subscribe.
Why don't price increases adjust rates for current members?
Athletes can sign-up with ease knowing that their membership costs will not fluctuate - there are no "hidden costs." This honors the original grandfathered rate that the athlete agreed to for as long as they are subscribed. Think of these athletes as your early adopters, rewarded for spreading the good word!
Send a virtual thank you, and let them know that they're receiving the "founders discount" by assuring them they'll be grandfathered in (when you announce your price increase). This also incentivizes them to keep at it, since they will lose access to the original rate if they cancel.
What's the best strategy for increasing team pricing?
Like most things, it depends. Increasing pricing for a team may make sense for you, OR you may pivot altogether, by rebranding and launching a new team. Consider either strategy based on the situation prompting the price increase.
For example, IF your team is following similar programming, but you've recently increased your coaching staff to better support video form checks on the team feed, increasing your team's rate for incoming athletes might fit the bill, so-to-speak.
Your athlete's might wonder, why are prices increasing? Make sure that your increase in pricing mirrors an added bonus to your current offering, so you can "prop" the added value in your messaging.
On the other hand, IF you're offering 5 sessions per week instead of 3, or you're changing your programming altogether to reach a different audience, consider launching a new team, creating buzz around a new an exciting product!
Bottom line: always frame any changes with positivity - "your virtual gym just got an upgrade!"