Reflecting on our recent price changes

10 June 2019, by Chris Plowman
Reflecting on our recent price changes

On 1st June we transformed our pricing structure in an attempt to achieve:

  • Simplified range of options
  • More focus on Memberships
  • Average price increase

Read more about our thought process and decision making in our blog.
Now that the change has taken place and we are in a settled state, I wanted to reflect on what we have learned so far.

The Good

The feedback from the Floatworks team and community has been very, very good. Particularly around the simplicity of the new structure. The team have found it much easier to advise on what to purchase. People have found it far less confusing, particularly post-float when the floating effects can make decision making difficult!

We have increased our Membership base by 25%, resulting in over 100 Floatworks Members. Sales show that this is a combination of the old and new membership models. Some existing customers have decided to take up a Membership on the old model before it ended, plus we have lots of people taking up the new model! The feedback suggests that the simplicity, price certainty and the Membership benefits are appealing and have been well received.

We’ve seen a surge in new people picking up our Intro Pack before we discontinue it in a about a month (get it here). The past few weeks have seen us sell 50% more than usual. Great to get more first-timers into floating!

The Not As Good

Fortunately, it’s been going really well, so there’s nothing I can label as ‘bad’. However here are a few interesting areas:

I’ve put the float centre team through an intense period of absorbing a lot of new information in a short period of time to get this change enacted quickly. Although it’s been a challenge, thankfully I have a dynamic and enthusiastic team, without them, it wouldn’t be possible.

Parts of our new Members offering are not yet available, namely, free t-shirts and partner offers. These items will go-live when we launch the new site in Angel as they are dependant on our new brand which will launch at the same time.

The Remains To Be Seen

We’ve launched our new Members Rewards Programme. A free float for Members if they float 4 times in a month, and 2 free floats if they float 8 times in a month. Initial signs have been good but we will continue to assess and absorb feedback as we move forward.

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