Setting Premium Pricing

[Pat Robinson]

This article, "What I Learned From Increasing My Prices", discusses determining the VALUE of different membership packages and monetizing toward that. I realized the VALUE of my Ning subscription by looking at it from the buyer's perspective!

I found the Package Titles a marketing savvy way to communicate value, rather than generic "Basic" and "Premium" packages.  Additionally, outlining the pricing differences, but providing more services than are marketed, was another 'value added' bonus, with this strategy.

The Comments below the article are informative also, especially related to looking at the VALUE from the user's perspective.

I'll be restructuring our subscription offers to reflect monetizing VALUE.  Currently, we have 3-month, $10; 12-month, $20; and Lifetime Member, $39.

So, I'll increase our prices and premium package structure something along the lines of:

        PLAN A)  Quick Health Question with access to Wellness Forum for group feedback. $15, 3 month membership.

        PLAN B)  Health Research with access to Q&A Archives and Wellness Forum for acute health questions and support. $30, one year membership.

        PLAN C)  Complex Health Support with access to Wellness Forum, Personal Health Blog and reply to health questions within 48 hours by Pat Robinson, Wellness Educator. $69, Lifetime Member.

Concurrently, I'll make the Forum and Group Tabs "Members Only" to people who are not Signed Up/Signed In.


What are other ways to leverage premium packages and demonstrate VALUE to the buyer, without adding a pay-wall and losing Google indexing?


Pat

P.S. I've just read this article, so I'm still analyzing how to implement these ideas to my Ning site. I don't claim to have all the quirks worked out yet. For example, I do handle my subscription approvals/renewals manually - (which is a PIA). :-)

[Pat Robinson]

I have announced the upcoming price increase and invited people to "Save $30 - TODAY", and i have new membership subscriptions coming in already. :-)

READ the article: http://www.extendslogic.com/business/what-i-learned-from-increasing...


Pat

[Pat Robinson]

In the 21 days since I gave notice that we would increase membership fees, two hundred people paid to join our community. Prior to that, 200 people had joined during the whole year, at the same fee.

So, increasing our membership fee doubled our year-end total of new members, in 3 weeks!

Pat

[Alex]

That's excellent news Pat! Sounds like planning this out has really paid off.