As a small company deeply connected with our customers, we understand that pricing changes can be unsettling, disruptive, and downright annoying. Regardless of how much we dislike price changes, price adjustments are sometimes necessary to continue providing our customers with exceptional service and to keep our offerings competitive and sustainable. This policy is a commitment to our customers that any KnowledgeOwl pricing updates will be fair, transparent, and in everyone's best interest.
What Drives Our Pricing Changes?
Our principle is clear: any change in pricing is anchored in enhancing the value and quality of the service our customers receive. Every six months, our pricing team takes a comprehensive look at various factors, including operational costs, market dynamics, and how we can further improve our services, to make sure our prices are sustainable and reflect the true worth of what we offer.
Our Pricing Promises
When reviewing and increasing our pricing, we commit to the following fair pricing policies:
- Fixed Pricing for New Customers: New customers will be guaranteed their sign-up pricing for one full year, offering them stability and assurance from the start.
- Yearly Price Stability: We commit to increasing our pricing for individual customers no more than once every year, ensuring predictability and stability.
- Cap on Increases: When we find it necessary to increase prices, we will strive to ensure that yearly price increases for individual customers do not exceed 5% or the US annual inflation rate (whichever is higher), safeguarding them from unexpected high costs.
- Gradual Adjustment: Should necessary overall price increases exceed the individual set cap of 5%, we will implement these increases gradually over time, allowing our customers to adapt smoothly to the new pricing structure. Gradual increases will be implemented at 5% or the US annual inflation rate per year until the current pricing is reached.
- Price Lock-In Options: Prior to any pricing change, customers can lock in their existing prices through 1, 2, and 3-year upfront purchases, providing them opportunities for savings and long-term price security.
- Discounts for Yearly Payments: We offer discounts for companies who prepay for 1, 2, or 3 year periods. The discounts for prepayments are:
- 10% discount for 1-year
- 15% for 2-years
- 20% for 3-years
Price Lock-In Expiration: After a lock-in period expires, the new price of the account will increase to no more than the price cap percent per year that the term was locked in for. For example, an account that was locked in for 2 years will not increase in price by more than 10% when the term expires. The customer can prepay for another term at the updated price to defer further price increases, but they cannot lock in the rate from the original term.
Discounts for Nonprofits, B Corps, and Purpose-driven Orgs: Through our KO for Good program, we offer a 25% discount for companies who are nonprofits, B Corps, or otherwise purpose-driven.
Advance Notice: Customers will always be provided with at least a 90-day notice before any price increase takes effect, ensuring that they have ample time to make informed decisions regarding their subscriptions.
Pricing for New Features: New features or functionality might come at a cost. During the lock-in period, customers will not be forced to upgrade or pay more for additional features that were not part of the plan they signed up for. Some features or functionality might require an extra cost or an upgrade to a new plan. These will always be opt-in (not forced) choices made by the customer themselves.
Flexibility and Understanding: We understand that each customer's situation is unique. While our policy outlines our standard approach, we remain flexible and open to dialogue, especially with our long-standing customers or those facing special circumstances.
These commitments are designed to maintain a balance between the need for business sustainability and growth and the importance of customer trust and loyalty.
If you have any questions or comments about our Fair Pricing Policy, feel free to contact us .