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Any thoughts on membership site pricing?

by kongming
10 replies
Hi Warriors,

I'm up to launching a membership site soon, but is now stuck on pricing. I'd love to hear your opinions. Many thanks in advance!

It's a brand new launch with no success story nor testimonials (this sucks, I know), so I'm looking to set a relatively low price to get things rolling first, like $17 or $27 per month. It's a 3-month training program (helps ESL tutors in China use Chinese facebook and increase income & work less) so the sum cost would be monthly fee x 3 (if the customer doesn't quit).

Does $17 still seem too high a price for a brand new launch like mine? I think it's not but what are you opinions? I'd LOVE to hear a similar experience story.

I'm also planning to set a lifetime price, but not sure how much to charge. For a 3-month program should I charge more or less of 3 x monthly price? What's the trick here?

I was told that to know what's best to charge you MUST do testing, but I'd also prefer to hearing your kind opinions beforehand.

Thanks again for the time and input. I appreciate it a lot warriors
#membership #pricing #site #thoughts
  • Profile picture of the author rparikh
    I would like to say that 17 $ is quite good . Its is affordable . If i see the membership which have some good content and nice sales page , i would sure go for 17 $ bucks .
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  • Profile picture of the author tommygadget
    Honestly, it does not matter what we think. You MUST test all prices between $7 and $97. Find out where you get the maximum income. Also, if you sell other services in the membership and/or have upsells then consider the number of signups you get. Good luck!

    TomG.
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    • Profile picture of the author Dietriffic
      Originally Posted by tommygadget View Post

      Honestly, it does not matter what we think. You MUST test all prices between $7 and $97. Find out where you get the maximum income. Also, if you sell other services in the membership and/or have upsells then consider the number of signups you get. Good luck!

      TomG.
      How do you test that without the people who have paid more getting annoyed that they paid more, and the people that have paid less getting annoyed when it's more expensive next month?
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      • Profile picture of the author mainstreetcm
        Originally Posted by Dietriffic View Post

        How do you test that without the people who have paid more getting annoyed that they paid more, and the people that have paid less getting annoyed when it's more expensive next month?
        From a customer service perspective, if my members paid at an original price of $29.99 a month I would keep them at that price until they canceled. Would be my thanks to them for being a charter member, or an early bird.

        To the OP. I would think it would be best to start low and then increase until you find your sweet spot.
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        • Profile picture of the author Wide
          Originally Posted by mainstreetcm View Post

          From a customer service perspective, if my members paid at an original price of $29.99 a month I would keep them at that price until they canceled. Would be my thanks to them for being a charter member, or an early bird.

          To the OP. I would think it would be best to start low and then increase until you find your sweet spot.
          How do you do it the other way around?
          Someone paid $49 to signup and the next day you lower it to $39 etc.
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  • Profile picture of the author Rajan Cajan
    I would portray a sense of urgency. Example: Current price is $17 in 30 days the price goes to $27, be serious about it. After 30 days raise the price to $27 and don't look back.
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    • Profile picture of the author Wide
      Originally Posted by Rajan Cajan View Post

      I would portray a sense of urgency. Example: Current price is $17 in 30 days the price goes to $27, be serious about it. After 30 days raise the price to $27 and don't look back.

      So, 3 days after you raised the price you find out it was too much and have to lower it again.

      What do you say to the current members who signed up during the 3 days, when the price was high?
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  • Profile picture of the author Underground SEO
    You really need to test out the prices, I would start at $27 and then increase as the content gets better, you're original customers will also stay as they will feel they are getting really good value if they are still paying the lower price.
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    • Profile picture of the author timelessreader
      I wouldn't worry about annoying your customers. If you buy something from Best Buy, then a few weeks later you find out they dropped their price, do you go to them crying about it?

      In the real world prices change. If they DO complain about it, then you offer them the opportunity to take the lower price.

      I'm pretty sure you'll be able to figure it out. Just test.
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    • Profile picture of the author Matt.Lake
      I don't think the fact that it's new should mean you have to charge a lower price.

      I'd suggest, first, go with the highest price that you think it's worth and that you think your customers will pay. Then test various price points.

      And as for testing... some people are concerned about members getting annoyed with the price going up and down...

      Well, you don't have to change the price for your current members. Just vary the amount that they pay for when they sign up.

      So say the first price you want to test is $29.95 per month. Well you get say, 100 people to join at that cost. And then you leave them paying $29.95 per month, don't change it mid way through.

      And then when you want to test a new price, you just create a seperate billing system for the membership site and try it out at $19.95 per month or whatever, and then leave those members paying that much.

      I'm finding this hard to explain in writing, but hopefully you can make something of it. Basically what I'm saying is you don't need to change the price up and down for current members. That won't work. Just for new signups.

      As an example:

      Get 100 signups at $19.95 per month. See what the conversion rate and stick rate for that is.

      Then get 100 signups at $29.95 per month. See what the conversion rate and stick rate for that is.

      And so on.

      It is unlikely that you'll annoy current members because the people paying $29.95 per month won't know that other people are paying $19.95.

      And in the unlikely chance they do find out then be honest with them, tell them you're doing some testing, then downgrade them to the lower amount.

      As I say, I'm finding this hard to explain. I know what I mean, hopefully some of you do too :-)
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