When creating your membership site offer, you need to take into consideration the value your membership provides and how much in demand it will be by your target market. On the one hand, you don’t want to sell it too cheaply because you don’t want to undervalue your work and you don’t want to make people think that this membership site is worthless because of the low price. On the other hand, you don’t want to charge so much that people in your target market can’t afford it and/or are turned off by the cost of joining. Therefore, how do you determine a fair price to charge for access to your membership site?
You should consider the amount of hours you spent on working on the site. This includes creating the site, purchasing the domain name, purchasing the bandwidth, the cost of the software platform that maintains the membership site and the recurring payments, the time and money it took to provide the resources and information you have inside the site, etc.
You should also look at competitors’ websites, especially membership sites that cater to the same or a similar market as yours. See what they offer if possible; you may have to be a member of their site to see exactly what strengths and weaknesses they have, which you can do if you choose to do so. Looking at the site’s sales letter may provide you with enough of an insight to determine what strengths and weaknesses the site has. Check to see what price they are charging for access to their site, then compare your site and the benefits it will provide its members and price it accordingly.
You can also send out a survey to members of your target market to see how much they would be willing to pay for access to a site that provides specific benefits to them. Use that information as well to determine a fair price point for access to your membership site.
For more information on pricing and membership sites, check out “Membership Sites Made Easy: How to Cash In On Your Own Membership Site.”
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