Interesting monetization strategy: Pay what you like, yearly fee instead of monthly. Thoughts?

3 replies
Here's the site I'm talking about: Membership - Improve Your Social Skills

This guy has an interesting monetization strategy for his course. A couple questions for you guys.

1. What do you think of charging a yearly instead of a monthly fee?

2. What do you think of letting the customer choose how much they pay? The guy has a referral policy where he says he'll donate $5 for every person you refer who signs up. So he must be making more than $5 on average.
#fee #interesting #monetization #monthly #pay #strategy #thoughts #yearly
  • Profile picture of the author Graham Maddison
    Interesting concept

    A couple of years back I had an ebook for sale for $7 or they could get it or free if they signed up to my list...... I had more people pay for the ebook than I did sign up for the list, so on that premise, maybe they are opting to pay somewhere in the middle of his price options.

    It would be interesting to know his results.
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  • Profile picture of the author Joan Altz
    Yeah, we did an experiment with a product that was making steady sales at $17 where we offered a $5 instant discount to share the site on Facebook. Most buyers chose to pay the full price (3 to 1).

    I think a "pay what you want" option could work with some products that are cheap, but I would put a minimum price and a recommended price if I did that, and I would really build up the value in the copy so that the minimum price seems like a donation from us to the broke people in the World. lol. Tug at a person's self-assessment of their own status - that type of thing.
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  • Profile picture of the author ryanbiddulph
    Fascinating Nathan!

    I feel your energy makes or breaks the deal. He felt clear on his pricing/ non pricing structure - at least he seems clear - so he went with it. Good for him. If you felt the same way, or was clear on giving people that option, you can consider going for it too.

    As for me I vibe with pricing clarity. I give away tons of free, helpful content weekly through my 7 K word post so I charge for my products and services.

    Either way, it's a question of clarity or energy.

    All the best,

    Ryan
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