This is a different idea.
It may not be the typical way most sites price their monthly membership but it is an interesting concept. For some, it might mean thinking about accepting payments in a whole other way.
The initial thought when hearing this question from the forum may be to dismiss it. Or, to question how it might work.
But, could it work?
It seems to be a solid pricing method for some who chose to use it.
Would it be a good fit for your site and for your members?
That is a good question.
Most monthly membership sites charge the same price each month.
Someone signs up and pays the initial price and continues to automatically pay that price each month for as long as their subscription remains active. This is a tried and tested method for collecting payments.
It works and is almost expected by members since it’s used so frequently.
But, what if you charged a higher price for that first month and then dropped to a lower price for each month after that.
Would you need to provide additional bonuses in order to justify the higher prices to get started? Would there be less sign ups due to the higher buy in?
These are valid questions and they come up in this forum discussion.
A very helpful suggestion is also mentioned. Running a Split Test.
Effective split testing can make all the difference when it comes to choosing between payment options. Having actual results help when it’s time to make the ultimate decision on which options to choose.
We invite you to join the conversation in the forum to get all the details.