The retention rates of companies we all know
A week ago, I saw Daniel Layfield’s post about how all subscription companies eventually figure out the Monthly to Annual Plan pricing trick.
The trick is to price your 12-month plan slightly more than your average LTV for monthly users.
So, if your average user stays around for 4 months, price your annual plan at 5 months.
You get to boost LTV for these users by 25%, which is a huge win for not much effort.
When Daniel did this at Codecademy, it was one of the most effective tactics they ever tried.
So it got me thinking: what *are* the retention rates of some subscription companies we all know?
After gruesome 15 minutes of pricing page surfing, copy-pasting, and cosplaying Patrick Campbell, I had the answer.
How was this calculated:
Ex: Webflow: $29 per month. $276 annual. 276/29 = 9.58. ≈ 8 months(as they want the annual to be slightly more months than the monthly plan LTV