What's the best payment structure
Hello there,
These is going to sound rubbish because I know it will be too vague but I'll try anyway because I'm stuck and need another perspective or 2.
I'm trying to launch a website.
The website is pretty unique but in essence I suppose it's a membership site, although with a bit of a twist.
My question is related to how I should monetize, I can't settle on a path.
The product is access to something, which results in revenue. (that's the vague part I know). The revnue comes in weekly and every week it can be different as the product changes.
Initially I planned a FREE membership, giving access to the product and Premium membership that gives 25% commission on the revenue created by a member you might refer.
Initially I started with a monthly subscription, then I went to a one time fee, and now I'm unsure again.
Now I'm thinking of a small standard monthly FEE ($9 for example) so no FREE membership and if anyone wants the affiliate program (which has 6 figure potential due to the nature of the website) they can just register to the program for free.
There is massive value in both the product and the commission from it's revenue. This product is for the IM niche and it's comparative in other niches (i don't think it exists in the IM niche) well they make millions a month and have a membership base of miilions.
They only have a free membership but they don't have a very popular or generous affilaite model. My goal is to have membership recruitment driven by affilaites and therefore it's essential to give away a lot of affiliate in the commission to make it attractive.
I think I have that... 25% can actually add up to 6 figures a year, and I've a feeling that for someone with a massive list, it can add up to 7 figures. Time will tell if I'm right
Anyway, I'm stuck. Of course to start with, I'll promote it for FREE memership but what model should I run regarding monetizing and attracting affiliates?
God I hope that makes sense enough for someone to offer an opinion.
If I offer FREE and premium.. then I'll hopefully get a lot of people through the door, and a chance to push for upgrades...I can't give more than 25% commission but I feel bad having a Premium membership that is basically access to the affiliate system because more systems are FREE.
However, if you're able to get 1000 people to register to something that's FREE has massive value you'll make $2500 a month just in getting them to register, with no more work necessary.
I even included a tier 2 level of commission of 10%. My idea was that some peopel would not only promote the site, but also aggressive promote the upgrade by designing other products to show how their list how they can make money by geting people to join the site.
This is huge in terms of commission. Imagine you have 100 people you refer to a premium membership and they each refer 100 people to the FREE membership ... we'll you'd make $10000 a month on top of the 1st tier commissions.
My problem is I don;t want this to be MLM and that smells a bit like MLM.
So right now I'm thinking $9 a month for everyone and anyone can access to the affiliate program but only having 1 tier of commissions which is 25%. Then anyone who refers X amount becomes a 'super affilliate and gets 2nd tier commission of 10%. The reason why is that once I give the extra 10% away, I basically don't make anything beside the membership free.
Anyone willing to read this rant and give me some advice or maybe just an insult or two?
These is going to sound rubbish because I know it will be too vague but I'll try anyway because I'm stuck and need another perspective or 2.
I'm trying to launch a website.
The website is pretty unique but in essence I suppose it's a membership site, although with a bit of a twist.
My question is related to how I should monetize, I can't settle on a path.
The product is access to something, which results in revenue. (that's the vague part I know). The revnue comes in weekly and every week it can be different as the product changes.
Initially I planned a FREE membership, giving access to the product and Premium membership that gives 25% commission on the revenue created by a member you might refer.
Initially I started with a monthly subscription, then I went to a one time fee, and now I'm unsure again.
Now I'm thinking of a small standard monthly FEE ($9 for example) so no FREE membership and if anyone wants the affiliate program (which has 6 figure potential due to the nature of the website) they can just register to the program for free.
There is massive value in both the product and the commission from it's revenue. This product is for the IM niche and it's comparative in other niches (i don't think it exists in the IM niche) well they make millions a month and have a membership base of miilions.
They only have a free membership but they don't have a very popular or generous affilaite model. My goal is to have membership recruitment driven by affilaites and therefore it's essential to give away a lot of affiliate in the commission to make it attractive.
I think I have that... 25% can actually add up to 6 figures a year, and I've a feeling that for someone with a massive list, it can add up to 7 figures. Time will tell if I'm right
Anyway, I'm stuck. Of course to start with, I'll promote it for FREE memership but what model should I run regarding monetizing and attracting affiliates?
God I hope that makes sense enough for someone to offer an opinion.
If I offer FREE and premium.. then I'll hopefully get a lot of people through the door, and a chance to push for upgrades...I can't give more than 25% commission but I feel bad having a Premium membership that is basically access to the affiliate system because more systems are FREE.
However, if you're able to get 1000 people to register to something that's FREE has massive value you'll make $2500 a month just in getting them to register, with no more work necessary.
I even included a tier 2 level of commission of 10%. My idea was that some peopel would not only promote the site, but also aggressive promote the upgrade by designing other products to show how their list how they can make money by geting people to join the site.
This is huge in terms of commission. Imagine you have 100 people you refer to a premium membership and they each refer 100 people to the FREE membership ... we'll you'd make $10000 a month on top of the 1st tier commissions.
My problem is I don;t want this to be MLM and that smells a bit like MLM.
So right now I'm thinking $9 a month for everyone and anyone can access to the affiliate program but only having 1 tier of commissions which is 25%. Then anyone who refers X amount becomes a 'super affilliate and gets 2nd tier commission of 10%. The reason why is that once I give the extra 10% away, I basically don't make anything beside the membership free.
Anyone willing to read this rant and give me some advice or maybe just an insult or two?