Archive | pricing

One Time Fee Vs. Monthly Recurring Fees

Which pricing model are you using for your membership site?

Two of the most popular pricing options that membership site owners often decide between are One Time payments or Monthly Recurring payments.

Do you want to accept the entire payment up front and provide the members with access to your community? Or would you prefer to accept recurring payments for each month of access the member receives?

Both options have their own pros and cons depending on what you want to accomplish.

So which pricing model is best for you and your members?

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Pay What You Want – What I Learned From A Comic Book

Have you ever been presented with the option to pay the price you wanted to for something?

I’m talking about you being able to choose the exact amount you want to spend. There is no price tag and no set cost. It can even be free if you want.

Of course, every one would decide to pay nothing, right?

Well, not necessarily. In fact, it might be surprising to find out just how many people would actually choose to pay when they are not required to.

Is a “Pay What You Want” model something that would work for your membership?

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Can You Raise Prices Without Losing Members? – Part 2

For most businesses, raising prices is a pretty standard practice. But when it comes to membership sites this adjustment tends to make members unhappy.

Despite the financial necessity to raise prices, a membership site increasing its cost to members can directly lead to those members cancelling. The result being that the financial situation is then much worse than before.

In Part 1 of this series we looked into ways to raise prices and minimize any negative effects. This time around we’ll discuss how to only apply price increases to some members, reward early adopters, and some thoughts on price increases in general.

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Can You Raise Prices Without Losing Members? – Part 1

Many membership site owners eventually realize they have to raise prices in order to “keep the lights on”.

Eliminating wasteful practices, up-selling, cross promotions, and even highly effective ad strategies may still result in the very real need to raise prices.

When the payments coming in are out-weighed by the time and effort put forward, it’s time for a price increase.

Once this decision is made, how can you increase your prices without upsetting current members and making the revenue problem even worse?

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WishList Insider – Forum Focus 134

When was the last time you visited the Insider Forum?

There’s always so much great info and knowledge being passed around that we want to make sure Insiders don’t miss it!

This time around, we want to spotlight the following conversations:

  • Submit Your Suggestions For Video Tutorials
  • How Much Content Do You Really Need To Offer?
  • What Have Been Your Pricing “A-Ha” Moments?

Join in on all the action by clicking through…

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Click on any title to be directed to the Forum Post

Minimum Viable Product – How Much Content?

How do you know how much content is enough?

When starting out, you want to present enough content to your members so they see the value of what they are paying for. Members should feel they are getting great bang for their buck when they start digging into your content.

But, how do you know when it is too much or too little?

Not enough articles or videos will cause members to question their choice to sign up while a seemingly unending avalanche of podcasts and webinars may result in the very same situation.

This forum thread talks about finding that “Sweet Spot” and delivering just what members want and need.

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What Have Been Your Pricing “Ah-Has”?

How much should you charge for your site?

Can you raise of lower your price later?

Should you include Up-sells?

All of these questions (and many more) are brought up and discussed in this informative exchange between Insiders. Pricing your membership is one of the most important steps when building and maintaining a site.

This means there are a number of factors to consider.

Some of the choices you make now can affect your options down the line.

Stu McLaren jumps into this conversation with 4 things to keep in mind when setting the price for your membership.

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Submit Your Suggestions For Video Tutorials

This time around, we want to know what types of subjects you would like covered in some more technical tutorial videos.

WishList Team member John is going to be creating a series of video tutorials and we want to know what you want to learn more about.

As John mentions on this thread…

“While it’s generally focused on technical stuff (since that’s what I know) that doesn’t mean it has to be all coding. It could really be anything, so if you have a suggestion, just post it below and I’ll see if/how I can work it in.”

So please feel free to head over to the forum and post any suggestions or requests you have for video tutorials. We’ll try to address as many as possible.

[Audio Lesson] How To Price Your Membership

Your content has been created and your site is setup and ready to go.

You’re about to release it to the world but one thing begins to start eating away at you…

How much should you charge?

There is a fine line between charging too much and not getting enough people in versus charging too little and not maximizing your revenue.

How do you find that sweet spot?

That’s what’s discussed in this audio lesson.

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Should I Use The Pay Per Post Feature?

Previously I wrote about delivering courses within your membership site for existing members and there were many insightful comments and ideas that were shared by other members (which is awesome!).

One comment from Chris Guld caught my eye because she talked about also selling the courses to Non-Members using the “Pay Per Post” feature of WishList Member.

This is a GREAT idea but there is one VERY important thing to consider when doing this…

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The Biggest Mistake I Have Made…

There are so many different ways to create and set up a website.

Some people jump into this process without doing any kind of research and that can really hurt their business.

Of course, there are many additional mistakes a person can make when beginning a membership site. The key is learning from those early mistakes and avoiding them the next time around.

I’m going to share the biggest mistake I ever made (regarding pricing) so you don’t have to learn the hard way.

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WishList Insider – Forum Focus 60

In the week’s visit to the Insider forums, we get into the following topics…

  • The ability to track areas your members visited within your site and when those visits occurred
  • Discover what “The Power of 9” is about
  • Where to find the Transaction ID of each of your members

Did you participate in any of the threads mentioned? We recommend checking them out as each deals with helpful and valuable information for all membership site owners.

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