Oct '23 • Value Bomb 💣
💵 Pricing Your Community
I'm planning out the content and conversation for my community, and I'm feeling a bit sticky about deciding which direction to go for the price point. To help me think through it, I'm analyzing the different potential price points.
Here's my analysis of the options:
- SUPER LOW $7-$30/month -- This would be appropriate for someone with a BIG list, who wants to get folks off the fence with an impulse/no-brainer offer. It would also be a good alternative to a free community, to make the cost small enough that it's not a considered purchase, but there are other offers waiting on the horizon or other ways for the business to make money. So this could work well with a small list, if it's your free community alternative, and you have larger offers on the table that are selling well enough for a sustainable business. $7 NOTABLE EXAMPLE: Evelyn Weiss/Coach Grown Hub + 's Multi-Passionate Club
- STILL "LOW" $35-50/month -- Similar dynamics. Either you have a big enough list/following that this would be sizable income on its own OR this is lower on the value ladder. I'd still consider this an impulse purchase price range, if the return on investment is big enough and/or the community is appealing enough to warrant the higher "no-brainer" pricing. But, I don't know if this would be swapped for a free community, if that makes sense.
- MEDIUM $75-100/month -- Depending on the offer, this is right on the fence of impulse vs. considered purchase. Even having a somewhat smaller community, the payment received is sufficient to promote it as a main offer and watch it grow over time.
- PREMIUM $197-$497/month -- This is where it generally moves into "considered" purchase territory. The info, value, and ROI need to be significant enough that both the emotional response and rational reasoning are covered and clear.
- HIGH-END/VIP $997/month -- The expectation here would be high touch, exclusive and valuable community, and/or high-value info for someone with a big problem to solve.
For me to map out the content, I think I need to be more clear on where this group fits into my business and clientele. I'd love to hear your thoughts about this and to know what you're choosing for the price point and WHY?
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💵 Pricing Your Community
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