How to switch your subscription billing cycle to apply a promo code?
If you have a monthly subscription and want to change to an annual subscription plan to apply a promo code (or vice versa), follow these steps.
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Go to the Billing & subscription settings tab and click on “Manage Subscription” to switch your billing frequency. You won’t be able to apply the promo code until you do this.
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Then go back to your Billing & subscription settings and click on “Promotions and gift.”
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Apply the Promo code in the Promotions field.
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Click the Confirm button to review and apply the offer details.

You can also switch from an annual to a monthly rate and apply your promo without having to cancel your subscription.