The new Coven pricing, what's the deal?
It feels pretty that The Coven is now at its ninth month of running, where the hell has that time gone?! I feel like we only launched yesterday when in fact we are actually closer to being a year old than we are being brand new.
If you’ve been logging into your account and looking at the payment plan options recently or if you’ve stumbled across any of our adverts you may have noticed that our prices have gone up.
When we first launched I always thought our thing would be our low pricing. I’d spent eight long months planning and creating The Coven pre-launch, lots of this time was trying to decide on pricing and a business model. Being so inexperienced in membership platforms and subscription businesses I did what I think a lot of people do when they decide to launch a membership: presume costs are low and profit is high.
This lack of knowledge (oh hindsight is a wonderful thing) meant that I started our pricing a lot lower than it actually should have been for us to turn over a profit. The past nine months I’ve learnt a hell of a lot about business models, pricing and financing. A large part of this was my naive thinking that I’d be able to run the entire thing without a team around me to help… turns out it’s a hell of a lot of work to run a membership platform of this size. I mean you can scrape by, I’ve seen others doing it and putting a hell of a lot less work into it but the thing is I don’t do things in halves.
I started The Coven to support you and so I’m going to do that to the best possible ability I can manage and I’m going to continue to expand and improve upon what we offer you so that you just keep getting more and more of what you came here for. You, my customer, my support network, my friends are the most important thing. You come first and the money comes second.
So that led us to where we are now. Although money comes second we do have to make enough to be profitable and to employ staff to ensure that you don’t sign up to a membership platform where they take your money and then essentially do sh*t all, I can’t think of anything worse.
Each of our tiers has been modified based on your feedback and repriced to ensure I can offer you all what i’ve promised.
As The Coven has progressed so has everything we give you. This isn’t me trying to win you over with our new pricing… what we offer is definitely worth the new pricing, I know that and I don’t need to convince you of that, you either see the value or you don’t but I do believe in being completely transparent with you all. I always have been from the start and I will continue to be even when difficult conversations arise such as this one, price increases.
So what does all of this actually mean for you?
Your monthly fee will not change whilst you remain on your current tier, you will continue paying your original price for as long as you like. If you upgrade or downgrade at any stage (which you are always free to do, I know your needs change month to month and so the support you get should too) and then choose to go back you will be on the new pricing structure and will not be able to return to the original price you paid. So please bear this in mind before you change tiers.
In the future, although I cannot yet tell you exactly when this will be, the price of tier 1 will change. If you’re a founding member (aka you joined in June 2018, the month The Coven first launched) then the only change in price you will EVER see is the addition of VAT when the time comes for us to go VAT registered. Whilst I would love to just say founding members prices will stay exactly the same I cannot escape VAT and we priced tier 1 so low that we are unable to absorb this cost without running at a big loss. You will however receive plenty of warning about this before VAT begins to be added to your monthly (or 3 monthly etc) payment and you will be able to leave us should you decide you don’t want to pay that bit extra. Keeping your price the same is my way of saying thank you to those who believed in me and The Coven before I even had a website or a platform to show you. You guys rock and I will never forget you believing in me and so you will never see a price change apart from VAT.
If you weren’t a founding member then you will see your prices change in 2020 (you may be charged VAT before 2020 but again you’ll get plenty of warning about the extra £2), not by a lot mind you, we expecting the new price of tier 1 to be between £15-£20 per month including VAT although we cannot confirm the exact amount yet because we are still working behind the scenes to see how low we can keep it for you.
By this point we expect are resources and our library of workshops to have grown rapidly with hundreds of resources and workshops to be available to you 24/7 at your fingertips and thus making this price increase feel more justified for you. As well as all the new features we are adding to the member’s area for you to enjoy.
Yes, I’m telling you all this pretty early on in the game. We’ve still got the whole of 2019 to get through yet with pricing remaining the same for this time but I believe wholly in being completely transparent with you guys and I want you to know where we are headed, the discussions we are having behind the scenes and what to expect on our journey.
When we reopen our doors in Autumn 2019 new members will be signing up to our new pricing (some of you who signed up late 2018/early 2019 may already be on a higher price as we have already implemented an increase in tier 2 and tier 3) for tier 1, 2 and 3.
What’s this talk of new members with new pricing mean for you?
You won’t be affected by new pricing in Autumn, as I said, your prices remain the same for 2019 however should you chose to cancel your membership and return at a later date you will be subjected to our new pricing model at the time you re-join. This is something to consider before you cancel should you choose to.
There’s no need to panic or worry write now. The changes I mentioned above are along way off and nothing is very drastic because I don’t ever want this platform to become inaccessible to those who need it. We’ve got the whole of this year to kick back and relaxxxx.