Updated Subscription Pricing
Sam Petherbridge
It is hard to believe that it has been almost a year since Chippy Tools moved to a subscription-based pricing model. While I had never set out to make a subscription-based app it became clear in late 2021 that Chippy Tools was not going to be a sustainable business over the medium term unless there was recurring revenue.
Looking back over 2022 it has been an enormous year for Chippy Tools smashing through our goals. I still can’t quite believe that Chippy Tools has been downloaded over forty thousand times, from over 80 different countries in 11 months.
As we approach one year of Chippy Tools being a subscription, I have been reflecting on the decisions that have been made over the past year. Reviewing these decisions and the costs of creating Chippy Tools I have decided to review and update the pricing of Chippy Tools. This is not a decision that has been made lightly and I hope it will help more people afford Chippy Tools.
The objective in reviewing the pricing of Chippy Tools subscriptions was twofold:
- Understand if the original pricing was correct relative to the market, other apps in the space and the feature set offered by Chippy Tools.
- Understand if the price of Chippy Tools is correctly set in each region in which it is for sale?
Having reviewed our pricing compared to comparable apps in Australia and the United States, I felt that Chippy Tools was likely underpriced. This will result in marginal increases in our annual, quarterly and monthly subscriptions in some countries, and a price increase for our one-time purchase option.
While several countries will see price increases, 144 countries where Chippy Tools is available will see a decrease in subscription pricing. Our new subscription pricing has been determined on a country-by-country basis, using purchasing power parity index data from The World Bank.
Purchasing power parity is an index that shows the rate at which the currency of one country would have to be converted into that of another country to buy the same amount of goods and services in each country. In essence, this has been used to take into account the ability of someone to pay for Chippy Tools in each country.
It is hoped that this change will make Chippy Tools more accessible to more people, with monthly plans starting from only 50 US cents.
Our updated pricing will start rolling out immediately for new customers and existing customers in most countries will automatically renew at the new rate. Customers that have previously purchased lifetime access to Chippy Tools will not be impacted.
Should you have any feedback please don’t hesetate to contact me Sam at Chippy.Tools
Thank you for your continued support,
Sam