BSSA #77 - Growing by adding more monthly plans 🚀

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In today’s email:

• Huge growth on WideBundle by adding one more plan

• You should hire to buy back your time

• How to release a new monthly plan and make more money?

Let’s go!

Huge growth on WideBundle by adding one more plan

You’ll have many emails where I’ll talk about pricing. Because I’m testing it.

And I’m 100% sure: changing pricing is the fastest way to increase revenue.

So last week we released the new plan and it worked well. If you remember I had told you it was the 2nd time we were launching because the first time we crashed everything.

This time it worked and we had a huge growth!

Many people started to take the new advanced plan because it had great features.

And without necessarily adding more paying users, we were making more money (up to $250 per day). Just because this advanced plan is more expensive!

We also added something: priority support.

The concept is simple: If someone takes priority support, they’ll receive a response before everyone else.

This is something I wanted to try but compared to the advanced plan, the results aren’t great.

So as always I followed my process:

1. Assumptions:
   - People don’t see that there is a priority support
   - People don’t understand what it is
   - People don’t need it.

2. Validation:
   - To valide this we decided to ask users.

3. Iteration:
   - Many told us they didn’t even see there was a priority support (it wasn’t clear), some told us that they didn’t know what it was and some others told us they already have fast responses so they didn’t see why they had to take it.

Even though we do have people who don’t want it, there are also people who just didn’t see it. Assumptions are right.

So now we’re entering the iteration phase: We need to fix this by making it more clear

You should hire to buy back your time

I’ve read a great book recently: Buy Back Your Time by Dan Martell

Dan Martell loves to optimize his time, and in his book, he teaches us how to do it.

The main lesson of that book is:

Hire to buy back your time, not to grow.

And I think it makes sense. When you’re growing, you shouldn’t hire people for part of the business you can’t do. You should instead hire people for part of the business that takes your time.

That is why customer support will usually be your first hire. So that you can have more time to do marketing for example (instead of doing support yourself and hiring someone for marketing because you don’t have time)

And as you keep growing, you should constantly delegate parts of your app that prevent you from doing more important tasks.

How to release a new monthly plan and make more money?

Following the great results I had when I release my new monthly plan, some people asked me: How to do it?

So here we go.

First of all, on WideBundle I always had a single monthly plan (which is bad).

It means people couldn’t spend more than what this plan was worth. And some people are willing to give you more money to get more value.

So you should always have ways for them to pay more.

And when you have a single plan, a good way is to create another monthly plan with more features.

Instead of charging per Shopify plan (Basic, Advanced, Shopify Plus) you will charge per features.

You can usually make more money if you allow even basic plans to pay more to get more features.

But you shouldn’t think about the features you think are great. You have to let your customers come up with the features. Here is how:

• You have your current app that already has many features. This is the default plan

• List all your power users (users who have been here for months or even years)

• Contact these power users when they open the dashboard through live chat (best way to get in touch)

• Ask them to jump on a call

• During that call, your goal is to understand what features they would love to see on your app if they could add anything

• List all the features that many of your power users requested. These are the features you should add to a more expensive plan

These features are requested many times and by the users who are willing to spend the most on your app!

That is why if you build a more expensive plan (for example twice

That’s it for today’s email!

I hope you enjoyed it! Feel free to share my newsletter with someone else: https://news.matdesousa.com/

And let me know what you want me to discuss in the next email!

See you next week,

Mat