which is the best membership prices plan?

11 replies
your opinion is needed... i am working on a new membership prices table and i am down to 3 versions, which one would you consider to be more appealing to potential customers to increase sales?

Version A:
Silver: $19.95/monthly
Gold: $39.95/every 4 months ($9.98/month)
Platinum: $99.95/annually ($8.33/month)

Version B:
Silver: $19.95/monthly
Gold: $39.95/every 4 months (save $119/year)
Platinum: $99.95/annually (save $139/year)

Version C
Silver: $19.95/month
Gold: $9.98/month ($39.95 billed every 4 months)
Platinum: $8.33/month ($99.95 billed annually)

my marketing assistant suggests that Version B is best. i disagree and consider either A or C. what do you think?
feel free to state any changes you would make to the above.
thank you!
#membership #plan #prices
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  • Profile picture of the author SARubin
    Well, just out of curiosity...

    Have you considered A/B/C split testing? (show 1000 visitors "A"... show 1000 visitors "B"... show 1000 visitors "C") and let your market decide which one they'll respond to?

    Originally Posted by costin76 View Post

    your opinion is needed... i am working on a new membership prices table and i am down to 3 versions, which one would you consider to be more appealing to potential customers to increase sales?

    Version A:
    Silver: $19.95/monthly
    Gold: $39.95/every 4 months ($9.98/month)
    Platinum: $99.95/annually ($8.33/month)

    Version B:
    Silver: $19.95/monthly
    Gold: $39.95/every 4 months (save $119/year)
    Platinum: $99.95/annually (save $139/year)

    Version C
    Silver: $19.95/month
    Gold: $9.98/month ($39.95 billed every 4 months)
    Platinum: $8.33/month ($99.95 billed annually)

    my marketing assistant suggests that Version B is best. i disagree and consider either A or C. what do you think?
    feel free to state any changes you would make to the above.
    thank you!
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    If your advertising is not getting you the results you want to see... I can show you how to fix it - Direct Response Copywriter / Conversion Flow Specialist

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    • Profile picture of the author costin76
      Please see the additional comments. Thanks!
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  • Profile picture of the author Steve B
    Originally Posted by costin76 View Post

    . . . which one would you consider to be more appealing to potential customers to increase sales?

    Costin76:

    Without context, I wouldn't even venture a guess.
    • What niche are you in and how is the competition priced?
    • What value does the member receive each month?
    • Why is recurring revenue used as a model?
    • Other than a price discount, why would someone want to stay for a year?
    • Is everything made available once someone joins? or is content (or whatever the product) dripped over time?
    These are just a few of the factors that can influence your pricing strategy.


    And by the way . . . please explain the difference between A and C - I don't see any.


    Steve
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    • Profile picture of the author costin76
      Please see the additional comments.
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  • Profile picture of the author costin76
    Putting aside the niche I am in or the value the customers get, from a physiological point of view, what would be more enticing for customers when looking at the numbers:
    - version A focuses on the overall price they pay (first) which is then broken down into monthly saving (the more months, the more saving).
    - version B also shows the overall price they initially should pay and then the annual saving are emphasised.
    - version C emphasises first the monthly saving then presents the overall price they should pay in order to have access.
    So my question is:
    Which one would be more appealing: emphasising the monthly saving (as in A and C) or yearly saving (as in version B)?
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    • Profile picture of the author SARubin
      Originally Posted by costin76 View Post

      Putting aside the niche I am in or the value the customers get, from a physiological point of view, what would be more enticing for customers when looking at the numbers:
      The truth is, costin76 ... we can't really put all that aside. Because psychology is very subjective. While certain groups of people may flock together in their desires and motivations, when it comes to copywriting, context plays a HUGE role in the overall response to the message.

      All that said...


      Version "A" seems pretty straight forward. (so that one's kinda neutral)


      Version "B" does show a triple digit, yearly savings. Which can often have a positive reaction for people, when they see the size of their savings (assuming the value of your offer corresponds to numbers of that caliber)


      And I'd have to eliminate version "C" for one reason, The word "billed" tends to come with a negative connotation built in, for many people (we pay our bills every month, whether we like to or not..And it minuses money from our coffers)


      Again, without knowing more about the things you're telling us to "put aside"... I guess I'd recommend split testing "A" and "B"

      But that's just a guess, because based on limited info... for all I know, all 3 of them might be no good for your target audience?
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      • Profile picture of the author costin76
        Thank you so much, SARubin, that's the opinion I would like to know...
        The "billed" mentioning makes sense to produce a negative reaction; so version C should be eliminated.
        Version B also shows a good point by presenting the 3 digit saving.
        Thanks again!
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  • Profile picture of the author DIABL0
    If I may make a suggestion. I know someone that has made millions with membership sites.

    They have always used the following

    $1 for 7-day free trial (automatically converts to monthly)
    Monthly price
    Upsell to annual price (approx 30% or so off)

    Something to consider.
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  • Profile picture of the author gcbmark20
    Hi,

    To be honest, none of us can answer that. TEST, TEST and test
    some more and allow your NUMBERS/RESULTS do the talking.

    ONE VITAL thing most marketers don't understand about the
    importance of TESTING is that those case study results can be
    turned into a small fortune by creating a product out of them and...

    Then doing a product launch over at JVZoo/W+/ etc etc.

    So go out there and TEST like crazy and then turn your results
    into a case study product launch and get a ton of buyers onto your
    lists and make a lot of money in the process.
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  • Profile picture of the author Randall Magwood
    I charge $200/month for my ebook consulting services. I think that's a good membership price lol.
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  • Profile picture of the author Jessica Amboos
    Setting aside the niche and just looking at the prices, I'd say I'll go for Version C though I'd completely remove the $39.95 billed every 4 months and the $99.95 billed annually. For me, it connotes something negative because of the word "billed". People hate bills. Version B is still good because of the high value you're putting on savings per year but not all people would want a to a pay long term service. Some would like to try it out first, hence Version C. You might also want to test it out to see which of these plans work well with the your potential customers.
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