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Unread 15th April 2010, 08:37 AM   #1
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Default Trial Price for Membership Site?

Hey dudes & dudets

I would like to know your opinion on trial prices for membership sites.

If you had a membership site and was giving out content on a monthly basis and you just launched.

Would you have a trial price to bring more members to the membership site OR would you just have a normal price thats locked?

Would you be worried of refunds & subscription cancellations?

Do you think a trial price should be very low compared to the normal monthly price or just a little lower?

Does anyone have any experience with trial prices for recurring products/services?

Thanks dudes & dudets =)

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Unread 15th April 2010, 09:57 AM   #2
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Default Re: Trial Price for Membership Site?

A trial could make the difference of closing the deal. I don't think there are as many "tire kickers" around as there are crappy products. If you have a solid membership that provides quality "how to" information, people will stay after the trial is up.

Take a look at all the IM launches. How many of those courses are designed to help people succeed, or provide what they say they would? Not too many. I've heard many marketers say people need to take action and meanwhile don't deliver the information that makes the whole difference. Most courses and many memberships provide rehashed content with a bunch of holes.

I wouldn't be worried about getting screwed over by your customers. I would be more concerned about providing a valuable service and that you market your membership honestly and over deliver.

If you provide amazing quality, support, and continue to update your membership with fresh content... you WILL retain the majority of your members. As well, if you do the above and honestly care about your members--providing them quality and are not in it JUST to fill your pockets... your brand will grow and so will the word of mouth advertising.

A $1 trial/14 days will get people in the door more than a flat fee, and if customers feel they are getting their money's worth for the price of the recurring fee--and feel you will continue to deliver the goods, they'll stick with you. Of course there will be some people that will bail, but really, most won't if they have enough reasons to stick around.

I hope this helps,

Bryan

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Unread 15th April 2010, 02:25 PM   #3
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Default Re: Trial Price for Membership Site?

Thanks Bryan that was exactly the type of answer I was looking for

I totally agree with you when it comes to offering quality material and 100% customer support this is something that I will ensure to the best of my efforts. The main things I will be focusing on with my membership site is quality but more importantly customer satisfaction as I feel that this is the most important part of any membership site.

Since customer satisfaction includes quality of material and service as well as pretty much everything else that is important I am hoping that a trial price will show people how high our quality really is.

You just made it very clear to me that no matter what the trial price those who actually want the material, those who actually act and those who are sincere will stay subscribed to my membership site.

I will keep sorting out some trial price figures in my head.

Thank you for your advice, much appreciated.

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Unread 15th April 2010, 02:42 PM   #4
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Default Re: Trial Price for Membership Site?

Look at guys like Jason Fladlien and Lee McIntyre. They start with $1 trials (generally 14 days) then bill the rest.

I know both of those guys make WAY more than 10k a month just from their membership site.
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Unread 15th April 2010, 04:31 PM   #5
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Default Re: Trial Price for Membership Site?

You're welcome, Willy. It looks like you're on the right track!

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Unread 15th April 2010, 05:39 PM   #6
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Default Re: Trial Price for Membership Site?

You might also consider offering memberships in 6 and 12 month bulk pricing as well because last time I checked, unless there's an awesome community they won't back out from, I'd say most will cancel their membership in 2 or 3 months...

At least with 6 to 12 month bulk pricing structure, you're guaranteed to have members for 6 months to a year (of course you'll be getting paid in advance, and most likely would have to offer a small discount).

Oh, and about trial memberships... I ran a membership site in 2007 and I offered a free trial, then later, I changed it to a 0.99c trial. The people who were willing to pay 0.99c ended up converting way better than the free trial members. In fact, many of the "free trialers" never had a means to pay for a subscription... they were just freebie seekers.

Just my two cents.

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Unread 15th April 2010, 06:56 PM   #7
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Default Re: Trial Price for Membership Site?

Quote:
Originally Posted by James Foster View Post
Look at guys like Jason Fladlien and Lee McIntyre. They start with $1 trials (generally 14 days) then bill the rest.

I know both of those guys make WAY more than 10k a month just from their membership site.
Thanks James, so say their product was $67 per month they would do a $1 trial then bill the following $66 14 days later.

That doesn't sound like a bad idea...

Quote:
Originally Posted by Bryan View Post
You're welcome, Willy. It looks like you're on the right track!
Thanks dude, really can't wait. I just want to be able to help people out whilst not having to worry about my finances and being able to have some extra money to re-invest in to making their lives and other people's lives even easier

Quote:
Originally Posted by jonbeebe View Post
You might also consider offering memberships in 6 and 12 month bulk pricing as well because last time I checked, unless there's an awesome community they won't back out from, I'd say most will cancel their membership in 2 or 3 months...

At least with 6 to 12 month bulk pricing structure, you're guaranteed to have members for 6 months to a year (of course you'll be getting paid in advance, and most likely would have to offer a small discount).

Oh, and about trial memberships... I ran a membership site in 2007 and I offered a free trial, then later, I changed it to a 0.99c trial. The people who were willing to pay 0.99c ended up converting way better than the free trial members. In fact, many of the "free trialers" never had a means to pay for a subscription... they were just freebie seekers.

Just my two cents.
Yeah I was considering have a 12 month membership option but only for members who have been a member for at least one month. My reasoning for this is that otherwise I would be getting large refunds for large quantities and it would mess up my monthly financial reports.

By offering this for current members only, it would help to stablise my income and it would be highly likely that those who subscribed for the 12 month subscription after one month would be more likely to stay subscribed especially with the sort of future offers I am offering.

Yeah I would never do a free trial just because most as you experienced would just be in it for the free stuff.

The ones willing to go through the payment pages and trust the membership enough to pay even $1.00 for it would be much easier to convert in to long lasting members.

Thanks everyone for your input.

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Unread 21st April 2010, 12:20 AM   #8
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Default Re: Trial Price for Membership Site?

Quote:
Originally Posted by willyboy104 View Post
Thanks James, so say their product was $67 per month they would do a $1 trial then bill the following $66 14 days later.
Visa/Mastercard has made it pretty clear they do NOT want you to have $1 trials.

I also get much higher retention without any kind of trial. Sure you have to write a slightly better sales letter, write a couple extra followups, build a little bit bigger list, split test a little more but it's worth it.

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Unread 21st April 2010, 06:48 AM   #9
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Default Re: Trial Price for Membership Site?

Quote:
Originally Posted by Robert Plank View Post
Visa/Mastercard has made it pretty clear they do NOT want you to have $1 trials.

I also get much higher retention without any kind of trial. Sure you have to write a slightly better sales letter, write a couple extra followups, build a little bit bigger list, split test a little more but it's worth it.
Hey dude, thanks.
Yeah I would prefer not to have a $1 trial, considering just going straight in with the normal price at first and testing conversions from that then afterwards if it isn't good to test with a higher trial price than $1 perhaps $19.

Thanks

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Unread 21st April 2010, 08:12 AM   #10
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Default Re: Trial Price for Membership Site?

Try $4.97 for the first month and then $19 there after. The retention rate is kept high, just make sure you overdeliver, thats the main factor for people staying on!

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