How to Nail Membership Pricing for Value
Let’s be real: pricing a membership site is like juggling flaming swords while your audience watches, waiting for you to drop one. Too high, and people think you’re asking for their life savings; too low, and you’re essentially running a charity. The goal is to find that sweet spot of pricing where you’re making money with membership sites while your members feel like they’ve just scored a killer deal.
So, how do you balance the two? It’s not rocket science, but it does involve more than just throwing a number out there. If you’ve ever wondered how much is membership supposed to be, let me walk you through the basics—sprinkled with some hard truths and humor, of course.
Step 1: Know Your Value (Without Apologizing for It)
Let’s get one thing clear: if you’re creating a service membership that delivers real value, you have every right to charge accordingly. What problems are you solving for your members? Are you saving them time, making them money, or helping them achieve goals faster than they could alone? These are the questions that should guide your pricing.
But before you go all “I’m worth millions,” remember that people don’t care about your value. They care about how much your service or membership benefits them. So, frame it in a way that makes them see how essential you are.
If your membership and subscription offer a transformation, be bold in setting a price that reflects it. Your expertise isn’t on clearance.
Step 2: Find Out How Much Is Membership Really Worth
Next comes the nitty-gritty: how much is membership worth compared to others in your industry? Pricing your membership site blindfolded isn’t going to cut it. Look at similar service membership programs or membership and subscription models in your niche. Are they charging $20, $50, or $200 a month?
Your goal isn’t to undercut everyone else and race to the bottom. It’s about positioning yourself at a price that reflects your value while being competitive enough to attract the right crowd. If you offer more value than the competition, your price can—and should—be higher. Just don’t price yourself out of the market unless you’re offering golden tickets to Willy Wonka’s chocolate factory.
Step 3: Play the Psychological Game (And Win)
Pricing is as much about psychology as it is about math. You want to make your members feel like they’re getting a fantastic deal while ensuring you’re making money with membership sites. This is where membership and subscription pricing gets fun—tiered pricing. Start with a basic tier for the window shoppers who are commitment-phobic, and then offer premium tiers for the die-hards who can’t get enough of you.
Want to really mess with people’s minds? Offer a “best value” tier smack in the middle. People love a good middle-ground option. It feels like a splurge without the guilt.
Step 4: Test the Waters—No, Really
If you thought pricing was a one-and-done thing, let me burst that bubble. You have to test it—constantly. Start by launching with one price and see how it goes. If members are flocking in like you’re giving away free Ferraris, you can probably charge more. If they’re ghosting you like a bad date, well, maybe it’s time to rethink the price.
A/B testing different pricing models is the best way to figure out what works for your service membership. You can try one price point for a few weeks and then switch to another, seeing where people bite. And don’t be afraid to adjust—membership and subscription businesses that regularly tweak their pricing are often more successful.
Step 5: Sell the Price Like It’s a Steal
When you’ve finally landed on a price, don’t slink it in like a hidden fee. Flaunt it. Present your pricing like it’s the best deal on the planet—because it is. Your members are getting tons of value, and if they don’t know that, you’re doing it wrong.
Show them exactly what they’re getting, break down how much it would cost them to do it on their own, and throw in some cheeky “limited-time offers” to spice things up. People love to feel like they’re outsmarting the system, so let them think they’ve won, while you keep making money with membership sites.
Bonus Tip: Use Our Free Pricing Calculator
I know, figuring out how much is membership pricing supposed to be can feel like solving a Rubik’s cube. That’s why I’ve got a handy free pricing calculator that’ll help you nail that sweet spot of pricing faster than you can say “monthly subscription.” Try it out, find your perfect number, and start making money with your membership site without losing your sanity—or your shirt.
Because at the end of the day, good pricing isn’t just about making sure you get paid; it’s about making sure your members feel like they’re getting a deal that’s too good to pass up.
Now, go forth and charge like the valuable service-provider you are.