Membership Cash Profits
Membership Cash Profits – Choosing Your Price Structure When it comes to choosing your price structure, you will want to survey existing competitors to determine what they are offering, and for how much.
You want to price your membership offer competitively, so you can attract as much attention and “steal” subscribers from competing sites.
However, you also want to make sure that you are able to generate as much profit as possible at the same time.
You will also have to take other things into consideration when determining the price of your membership, including:
How specialized and unique is your content?
How often are you intending on updating your site?
Are you offering higher priced upgrades? If so, your base price could be lowered as a way of creating a larger community that you can sell higher priced back-end products and services to.
Are you established within your niche market? If you are considered an authority on your subject matter, you can charge more for your packages, even if the content is similar to others.
If people know that you are trustworthy and experienced with the topic you choose, your content will be considered far more valuable, since you are known as a leading source.
If you are new to the industry, you will want to do your best to first build your brand by starting off with a lower priced membership site and increasing your prices as your community grows.
Are you able to offer coupons or promotional items to external sites?
Can you secure exclusive deals for your customers that they cannot get anywhere else?
The type of service or membership site also plays a factor in setting your price structure.
For example, if you are offering coaching, private consultations or direct access to training, your prices are likely to be higher than if you are just offering downloadable products.
The scarcity of your information will be critical in regards to what you can charge, so you always want to focus on securing original material, such as:
- Exclusive interviews with experts
- Video tutorials with transcripts
- Exclusive eBooks, reports, articles
You could also consider adding physical products to your membership site to increase their overall perceived value.
Creating physical products shouldn’t be an intimidating process. These days it’s extremely easy and affordable to create DVD’s or CD’s and by doing this you will increase the perceived value of your product, even though it is exactly the same thing as if they downloaded it online.
When people join a site where they are receiving something tangible, instantly the product is viewed to be worth more. This is basic human nature. Doing this will give your program an edge especially if no one else in your niche is doing it this way.
There is no specific price structure for every website, as the perceived value will depend on the niche, the existing competition, and the scarcity of your information itself.
Keep in mind that you are not permanently locked into a price point, so if you start off at a lower, introductory rate and find that your membership site is in demand, you can increase the price as your community, and overall content inventory grows.
Just make sure that if you do choose to modify your price structure that you apply it only to new subscribers NOT to existing ones.
You want to encourage existing members to retain their memberships and if you change their subscription pricing, they are likely to opt-out of your membership site, simply because it’s not the original deal or offer that they agreed to subscribe to.
Always email your members with any price changes as well, especially if you lower your membership cost so that existing subscribers can gain access to the lower priced deal, and don’t feel as though they were left out of your special offers.
Regards, Coyalita
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