Price Experiments

Corrily’s price experiments allow you to do price discovery, test price elasticity and optimize prices for key KPIs such as ARPU, LTV and Conversion. With Corrily’s price experiments, you can test:

• Individual product and subscription prices
• Relative pricing - for e.g. if you offer a monthly, 3 months and an annual subscription of your product, what price sets (combination of individual prices) optimize your objectives
• Price formats and currencies i.e. for e.g. is it better to show prices such as $25.00, or 25.50 USD. Is it better to charge users in Brazil in Brazilian Reales (BRL) or in USD?

How to run a price experiment?

• To set up a price experiment, you need to select the the experiment objective
• Select which products or combination of products to experiment on
• Define which countries or audiences should be included in the experiment i.e. who is part of the experiment
• Define price arms:
  • If you have product(s) with an existing price(s), those baseline prices form your control group
  • New set of prices that you want to test form your experiment group
  • Granularity ie. number of experimental price arms that you want to test
  • You can set specific prices for each price arm that you want to test for e.g. you may want to test Price Arm1 (ProductA: $10, ProductB: $100), Price Arm2 (ProductA: $10, ProductB, $120), and Price Arm3 (ProductA: $15, ProductB, $150)
  • If you are not sure which prices you should be testing, Corrily can automatically generate these price arms based on specific upper and lower bounds of prices for each product for e.g. never test a price lower than $12 and higher than $20 for ProductA. Corrily automatically selects the experiment granularity based on your traffic volume *Select the traffic allocation strategy i.e. decide whether you want to manually set traffic allocation across each experiment treatment, or let Corrily automatically manage traffic allocation
• Provide additional information such as historical churn data for your products
• Once an experiment is set up, you can Submit for Review
• Corrily’s experimentation team reviews and takes the experiment Live