Memberhsip sites: Best price for retention rate?

by link8
10 replies
Hi,

Although I have been creating different clickbank websites and products for the past 5 years, I'm a Newbie when it comes to membership sites.

Just one quick, straight to the point question. What is the best monthly price to get the best retention rates?

I know people will always say that it is the value that counts but of course sometimes pricing would also play a big role in unsubscribing from a membership site.

So in terms of just pricing alone what is the best price to retain members?

I know low end does really well as some people are just lazy to unsubscribe.

But how about for medium-high end pricing, like for example 49-97 dollars a month

or for some cases $300 a month on the case of seobook.

Any help would be appreciated,

thanks
#memberhsip #price #rate #retention #sites
  • Profile picture of the author Jacer
    Its not the price you should worry about, its the value. People way pay a good deal of money for something that is quality. Anything more than $50 a month requires an intense amount of monthly value.

    A retention tactic that has worked well for me is to announcing a special bonus two weeks before month 3 of their membership, then every two months after that. How you get them to stay is to release the bonus a few days after they renew. Isn't fool proof, but has worked well to increase stick rates.
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    • Profile picture of the author link8
      Part of our dynamic content/ monthy content would be:

      2 new niche business based on web trends, included would be demographics, how to market, keywords, products to promote etc..

      Webminar/ group calls

      Success stories of websites making $x,xxx - xxx,xxx per month plus a breakdown why the site is successful so they can implement it on their site as well.

      Free reports/free new ebooks every month about niche marketing and online marketing.

      Our price point is $67 - $97 dollars per month, what do you think?

      Originally Posted by Jacer View Post

      Its not the price you should worry about, its the value. People way pay a good deal of money for something that is quality. Anything more than $50 a month requires an intense amount of monthly value.

      A retention tactic that has worked well for me is to announcing a special bonus two weeks before month 3 of their membership, then every two months after that. How you get them to stay is to release the bonus a few days after they renew. Isn't fool proof, but has worked well to increase stick rates.
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  • Profile picture of the author Jacer
    So its niche research in a box? Sounds good. Would be a stretch to sell at those price points here, but if you have a list, or sell outside the forum, I think it could work out well for you.
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  • Profile picture of the author link8
    yup.. We might go for $77 dollars a month which will include unlimited consultations
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  • Profile picture of the author tehnolife
    Banned
    Good decision! But you can put a TRIAL for 3 days! Let's say you charge 3$ for the first 3 days, and after he must pay the diffrence! I have used this in my membership model You will get more costumers! You will see!
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    • Profile picture of the author Rikki_Fawkes
      Sometimes you might have to fluctuate the price depending on what material you have on the site.

      Like for me, my membership site is priced very low ($9.99/mo) because I'm still adding to it several times a week. Once I get most the material on there, I'm going to raise the price. At that point I'm going to have to figure out the value vs. price and see what people will pay.

      I've also noticed some people are willing to pay for a few months and then when they think they've gotten all they're going to get, they cancel. It's hard to always be providing new content, but that's where I'm hoping things like personal coaching and a forum will come in - there's always *things* that come up that they might need help with. I don't know what your site is about, but if you offer extras like that, it might help with member retention, too, not just the price point.
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  • Profile picture of the author MemberWing
    Originally Posted by link8 View Post

    Hi,

    Although I have been creating different clickbank websites and products for the past 5 years, I'm a Newbie when it comes to membership sites.

    Just one quick, straight to the point question. What is the best monthly price to get the best retention rates?

    I know people will always say that it is the value that counts but of course sometimes pricing would also play a big role in unsubscribing from a membership site.

    So in terms of just pricing alone what is the best price to retain members?

    I know low end does really well as some people are just lazy to unsubscribe.

    But how about for medium-high end pricing, like for example 49-97 dollars a month

    or for some cases $300 a month on the case of seobook.

    Any help would be appreciated,

    thanks
    People are not lazy to unsubscribe.
    Here are my suggestions:
    1. Always offer lifetime access option for ~6-10 months worth of membership fees.
      Lots of new members have elevated excitement element (+ having some extra momentarily cash) and would be willing to outlay more cash for you for lifetime membership right away.
      Excitement factor *very often* calms down and most members *will* cancel within first 4-6 months. Lifetime option will leave you with more cash.
    2. Cheap $1-$7 /few days trials or so stimulate people to find every possible reason to cancel before full price will kick in + download as much stuff as they can before cancelling. See #3.
    3. As a guarantee - offer pro-rated refunds at any time should person decide to cancel. This works better than cheap trials and evens playing fields.
    4. Give extra comfort for new "on-the-fence" visitors to make decision to join:
      Chris Farrell (the guy who runs arguably one of the most popular membership sites in the world) has big-ass red "CANCEL" button close to "Join" page. This in fact boosts membership base as people see how easy it is to cancel at any time.
    5. More expensive first month and then cheaper regularly priced months doesn't taste well, but may work in some niches. To me it gives a hint that members probably won't stay longer than 1 month at that site.
    6. Don't be shy to offer higher monthly prices than others if you feel you offering some unique benefits to people.
    7. Always keep members teased and "on the hook" by posting:
      "...in the next month i'll share with you amazing ... that will help you to ... in just ... days".
    Gleb
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  • Profile picture of the author Rich Lowe
    Originally Posted by link8 View Post

    Hi,

    Although I have been creating different clickbank websites and products for the past 5 years, I'm a Newbie when it comes to membership sites.

    Just one quick, straight to the point question. What is the best monthly price to get the best retention rates?

    I know people will always say that it is the value that counts but of course sometimes pricing would also play a big role in unsubscribing from a membership site.

    So in terms of just pricing alone what is the best price to retain members?

    I know low end does really well as some people are just lazy to unsubscribe.

    But how about for medium-high end pricing, like for example 49-97 dollars a month

    or for some cases $300 a month on the case of seobook.

    Any help would be appreciated,

    thanks
    Hi link 8

    The monthly subscription rate will depend on the market you are going after.

    Health ones can command a high membership fee for example.

    You must provide solid content. Content which gets to the point as well. No waffle and no unnecessary filler. Just tell them what they have to do.

    You can get your members to pass a test before they move to the next module to prove they have consumed the material and implemented it. This can be a very effective way to increase the consumption of that material therefore increasing the retention and experience to the customer.

    Thanks.

    Rich
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    • Profile picture of the author suffolkman
      I have found this thread very interesting. I am in the process of starting to create my own membership site.

      Obviously just from this thread there appears to be many different models that can be applied.

      I will have to consider them all.

      One method I have heard is that members join for free, with certain material provided. Then they earn their way up the levels, obtaining more information as they go along.

      Peter
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  • Profile picture of the author Dalun
    If you want to charge top dollar for membership sites. Then you are going to need something that is going to be worth paying every month.

    Maybe one-one teaching from a successful online marketer or a powerful software program.

    If your product doesnt have quality, content and usefulness then not many people with pay monthly for it
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