People Magic: How to Build a $1M Community
People Pay Attention to What They Pay For
Aug 22, 2024
How much should you charge for your community? Discover the balance between pricing seriously and delivering value. A financial investment increases engagement and transforms member interactions. Learn to structure offers that respect member contributions while highlighting the results they can achieve. When members invest, they pay attention—and that leads to meaningful growth for everyone involved.
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Quick takeaways
- Pricing memberships at around $48 per month enhances perceived value and encourages commitment from potential members.
- Employing the three R's—results, replacement, and respect—guides the creation of valuable membership offers that resonate with members.
Deep dives
Understanding the Value of Membership Pricing
People are more likely to engage with offerings that they pay for, as the perceived value increases with the price. A recommended starting point for pricing memberships is $48 per month, which is in line with average subscription costs and fosters a sense of commitment. This price allows for a potential annual revenue equivalent of approximately $575, enhancing the perceived value of the content provided. By encouraging potential members to think about what they can receive for this price, they can design offers that are seen as valuable and worthy of attention.
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