People are always wondering how much that they should charge for something, it might be a product or in this case the price for a membership site. There are a few ways of charging potential members besides just worrying about the price.
One is to have different price points for different levels of the membership site. An example would be gold being the highest and most expensive, silver being in the middle and bronze being the most basic and the cheapest.
This can be effective, but it is going to be more work. You have to juggle three different levels of content. You have to decide what content to release to each level and that can be a pain, but it can also be more lucrative.
Another way of pricing a membership site is to give them payment options. They can pay a large sum, up front or pay a much smaller amount over time. I see that some sites employ this method, I’m just not a big fan of it.
I like the idea of getting recurring monthly income over and over again. That is one of the main reasons why I run membership sites. If I want to charge a high up front amount, I will create an information product or course or something like that.
The general rule is to price it what you think it is worth. Don’t cheat yourself if you think that it is worth more. I will tell you that a smart thing to do is to give the first members to join your site, a special low price. This will give you something to build on and gives you the ability to use urgency and scarcity tactics on your sales page. You can always keep providing more and more content and raise the price. This will also give you and opportunity to set up an affiliate program.
The best thing to do is to experiment for yourself and to ask the members that you have. Ask them if they would be willing to pay more per month. I don’t suggest raising the price for them, let them continue to pay what they are, but you can always ask and get their opinion for future members.
You can always split test to see how your sales page converts with different price points. Don’t be afraid to raise your prices, if you feel it is worth it, your conversions may even be higher when you raise the price. You just never know until you split test for yourself.
