In a little over 6 months, we’ve been through countless tweaks to improve the platform. Thanks to your feedback, we’re now ready to take it to the next level and aim to reach thousands of athletes and help them grow their online brand with great websites.
Here’s how we’re doing it:
New Marketing Site. We’re launching a totally redesigned version of medali.st. Have a look!
Free Starter Plan. There's now a free version of the platform available with basic features.
Lower price. We’re slashing the $35/month 'Gold Plan' down to $25/month.
Starter Plan Features:
- Basic design
- Social feed
- Blogging platform
Gold Plan Features ($25/month):
- Sponsors section
- Highlights section
- Bio section
- Dedicated blog section
- *NEW* Site Analytics
Why we are lowering the price from $35/month to $25/month
It's still too early to judge if it will prove to be a great or a bad business decision. In order for the trade of to be profitable, it will required many more athletes to convert into customers than with the previous pricing structure. For example, to break even on the revenues from 20 athletes, we'll need 30.
Most would advise to raise our prices because we evolve in a niche market with limited distribution and exposure. We disagree. Too many athletes have turned down Medalist because it was too expensive for them. It sucked. Not because we lost money but because it's frustrating to see an athlete turning down your product to stick with an ugly website or attempt to create a descent one with an other website builder.
The later is even more painful especially when you know your product is an order of magnitude better than any other alternative that will save them time, money and will yield results.
How we'll pass along the lower price to our current customers
Without our current customers, we wouldn't be here right now. It would be absurd to turn our back on our most valuable asset and loudest supporter by ignoring the fact that they paid more for the service than athlete who will join in the future.
We decided that every athlete will be upgraded to the new plan. So customers who were on the monthly plan will see their bill lowered from $35 to $25 per month.
Where it becomes tricky is for the athletes who opted for the discounted annual plan for $300. They account for roughly 70% of our customer base. Upgrading them to the new plan on their next billing cycling would be unfair over the monthly customers who get the new price right away.
Instead, thanks to Stripe's pro-rata feature, we're able to compensate them with the price difference under the form of a credit to be applied on the next billing. For example, a customer who would have published his site earlier this week would get next year's subscription at $180 rather than the advertised $240.
We're playing this one open book, head over here to read the reasoning behind every decision.