How To Set The Price Of Your Membership Site?

It depends on your market, what your competition are paying and much more. Try researching your market finding out what your competitors are charging and if you are offering higher quality service/products then use this as your major benefit and charge the same.

Some pricing structures are offering a trial price for the first 14 days or 30 days followed by an automatic renewal payment of the actual price of your membership for example:

14 Day Trial Period Price $19 or many people do $1 or $0.01 trial price
Then 14 days afterwards charge them the normal price, perhaps $27 or $29 or $37 or $47 or whatever.

Another is offering it in quarters such as

Monthly $47
Quartely $119
Yearly $347

I am sure you get what I mean, another is putting your membership in tier levels if there are more advanced memberships such as

Free
Bronze $19
Silver $27
Gold $47

obviously offering more as you pay more and rise through the tiers.

Hope this helps.

Thanks
2 replies

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Matthew Iannotti 14 years ago

I'll give you some of my insight...

I just opened up a PLR/MRR website that includes IM training etc..Bunch of stuff.

I know for a fact it's better than sites that charge 27 bucks, how do I know? because I used to belong to a lot of them. One site in particular release 2 products per month for 27...I have the same exact releases as that site, plus TONS of other high quality products....You know what I charge?

7.95 per month..Sounds crazy?

Well, I will raise the price in time..But I see it like this..

Many people might not know you, or even trust you. They don't even know the quality of the content on your site. You could have the best site around...It won't matter..If you start out at 30-50 a pop on a brand new site, many people may shy away..Hell people shy away when they see my price, but when they took a chance...10000% awesome feedback. I know what I could charge for it.

Doesn't mean I should at this stage or I will. Once word gets around and the numbers grow, than I'll start bumping the price up for the newer members that joined, I'd never raise the price on a member that's already there..Why should I? They took a shot on me and my site...They deserve a great deal.

So, if I were you..Start low and build up the buzz...If your site is truly awesome, word spreads and you'll gain members fast..

Good luck..It's alot of work ahead, but it will be worth it.
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- 1 reply
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- troy23 14 years ago
  
  I read it is better to have a choice of prices as the buyer is likely to choose at least one.
  
  Thanks
  
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Matt Morgan

14 years ago

Originally Posted by willyboy104

It depends on your market, what your competition are paying and much more. Try researching your market finding out what your competitors are charging and if you are offering higher quality service/products then use this as your major benefit and charge the same.

Some pricing structures are offering a trial price for the first 14 days or 30 days followed by an automatic renewal payment of the actual price of your membership for example:

14 Day Trial Period Price $19 or many people do $1 or $0.01 trial price
Then 14 days afterwards charge them the normal price, perhaps $27 or $29 or $37 or $47 or whatever.

Another is offering it in quarters such as

Monthly $47
Quartely $119
Yearly $347

I am sure you get what I mean, another is putting your membership in tier levels if there are more advanced memberships such as

Free
Bronze $19
Silver $27
Gold $47

obviously offering more as you pay more and rise through the tiers.

Hope this helps.

I was also going to suggest this idea, of levels.
Silver and Gold seems valuable as gold is expensive.

Just look at my avtar, yes them piles are lying on my desk

Thanks

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leegs

14 years ago

Hi troy23,

You have to ask yourself what kind of value you are providing to your members? It's good to have mixture of product format so as to retain your members. It's not easy to retain members after 3 months. The more value you are providing to your members, they're more likely to stay and the longer they stays, it builds your reputation too.

You can share here what kind of niche you are working on and what are you thinking of implementing, so that we can share with you what's our thoughts?

Hope it helps...

Thanks
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Pradeep Bhagwat 14 years ago

Deciding price of any thing is I think a 'Guess' matter. If you offer to low price expectiing that people will join your website like mad, is not going to happen. People may think that membership is not wrothy. If you sets high price and expect that by some joining you will get enough money then also you may not be successful. That means middle path is good. but there is no guranttee also.

I think if more and more people talks about your membership site and they give there testimonial then and then only you can get more members. So, set price whatever you want but try to get testimonial or review.

- Pradeep
- Thanks
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bertuseng

14 years ago

Start with a $4.95 trial offer for the first 2 weeks or something, and then $17.00 per month.

Just an idea...

Thanks
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troy23 14 years ago

My thinking was to offer a $1 trial to some of the content.
The trial had no end point.

If they wanted to upgrade to a monthly membership then there would be an option for this.
- Thanks
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Big Al

14 years ago

Dont forget to take into account what you'll pay in processing fees and the amount of time you might have to spend creating content and doing customer service when you decide on a price.

Not to mention a price that would have affiliates very willing to promote and drive traffic for you.

Thanks
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troy23 14 years ago

I think it may also depend on the amount of traffic coming to the site. If you are getting around 100 visitors a day then pricing it low - around $7 or $9.97 a month would make sense to me.
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Fairwar

14 years ago

Hello, troy.
I think I kind of see it before in other people's posts. But I am going to say it again. It would be better if you have a lower than price than your competition. However, you have to have a better offer too. It would definitely better to have more members paying than only some with high price even if you are giving them a good value of their money. By having more members, you more likely to get more out of it because words travel really good.

Thanks
1 reply

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David-JP 14 years ago

Pricing is a tricky thing- depends on the benefits to the buyer, credibility of the seller, hunger of the market, are you first in the market? etc..

I heard that those whitening teeth strips were priced based on 1/2 the cost to have a dentist do it.

I suggest you give 2 or 3 options, with a high one up top to price anchor. Then drop it with less features or time.

David
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Rich Lowe

14 years ago

Hi,

It depends on the market. The amount of the monthly fee depends not only on the clout your site delivers but on the topic it covers.

A higher fee can be charged by health and financial services because they are of huge concern to the people who are most likely to join them; that is, older people who want to maximize their retirement accounts and live longer, and healthier lives. Beauty, sex, dating, legal services and buying a home are worth a lot as well.

I also know one person who is charging a yearly subscription of $49 for his belly dancing site. He has over 8000 members.

A site charging $47 per month, $20 per month or $400 per month I have seen do well but it depends on the market and the value they are providing. People pay a premium for scarce resources.

Hope that helps.

Thanks

Rich

Thanks
1 reply

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troy23 14 years ago

EfitnessNYC mentioned $7.95 a month

I figured I could go a little higher at say $9.99 a month

Would there be much difference in a buyers mind ?
- Thanks
- 1 reply
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- Anthony Hull 14 years ago
  
  Originally Posted by troy23
  
  EfitnessNYC mentioned $7.95 a month
  
  I figured I could go a little higher at say $9.99 a month
  
  Would there be much difference in a buyers mind ?
  
  Split test both price points and see. That's the only way you'll know for sure.
  
  If you have a higher priced membership, then consider offering a low priced trial which automatically converts to the higher price after 14 days or 30 days. I've tried 7 days and members actually feel "rushed" to try everything on the site so they were more likely to cancel earlier.
  
  Cheers,
  
  Anthony
  
  Thanks
  
  1 reply
  
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  troy23 14 years ago
  
  My thinking was this
  
  A $1 trial to a portion of videos.
  
  No time limit on the trial.
  
  Then an option to upgrade, if they like what they see, to get everything on the site.
  
  Thanks
  
  1 reply
  
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  Rikki_Fawkes 14 years ago
  
  It depends on if you're still adding content to your site or if it's pretty much finished.
  
  If you have a lot of content on there currently, you can keep the price higher. But, if you're site is like my membership site, where it is still fairly new and you're adding to it several times a week to bulk up the content, you might start with a low price and up it later.
  
  For example, mine's $9.99 per month right now. However, once I have about 100 articles/videos, I'm planning to raise it. Most people keep telling me it's worth about $27.99 a month, but that will eventually be up to the buyer, I imagine, not the reviewers.
  
  Thanks
  
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JennSpencerIM

14 years ago

The other thing to consider is that the only people who can help you with pricing are your actual clients! I mean TEST it out at a few different prices and see what you think. I am in process of developing membership site and I originally set it at $9 per month. Was told by many that was too low and to go to $29 per month. Okay that's a BIG difference...so I'm going to test it out with google website optimizer. One page will be $17 and the other $27 and will analyze results. Might want to get 2 figures in mind and do the same!

Thanks

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Kevin Blue

14 years ago

Hey Troy, I've always preferred to position our sites at a premium in the marketplace, and offer killer value...

Besides the obvious reason of more revenue per sale, this changes your entire business model.

Advertising will cost the same no matter how much you are charging for your products and services, so it is beneficial to be positioned at the top of the market.

If you're only making $17 per month on your membership site, and competing with someone else who is making $97 per month, you need to acquire 5 customers to their every ONE....does that make sense?

It's a lot easier to find 10 people who are willing to pay $97/month than it is to find 50 people who are willing to pay $17/month.

Hope this helps!

Thanks

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How To Set The Price Of Your Membership Site?

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