Price Raises and Loyalty

Why not raising prices on existing customers can be good for business. The other day I was on X and I came across this post from my friend, Matt: I think we can all relate on some level. Price increases have become an expected part of life. Matt mentioned how he raised prices at The Events Calendar during his time there, and it made me think about what I would do today if I were running a software company and wanted to raise pricing. Honestly, I'm on the fence. On one hand, I get the reason for raising prices on legacy customers. Costs go up over time, especially if new functionality is implemented into the plans that are resource intensive. It only makes sense to cover those costs and there's nothing inherently wrong with creating more profit. The backlash on doing so today would be significantly less than in 2016. For better or worse, people are used to prices going up. But that's precisely one reason why I would consider not doing it. Standing By Your Customers As consumers we are…