We Looked At 10000s of Courses & Memberships To Find the PERFECT PRICE 👀
Aug 20, 2024
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Gina, an expert in community building and membership management, shares her insights on the power of pricing in community engagement. She explains how charging more can actually enhance loyalty if members see real transformation. The conversation covers diverse membership models, from dog training to dental education, showcasing effective pricing strategies. Gina emphasizes the importance of crafting compelling offers that drive client results, urging entrepreneurs to focus on value and benefits in their business ventures.
Charging higher prices for membership can enhance perceived value, ensuring members remain engaged through effective results and transformation.
Identifying existing services that the membership replaces positions its worth better, allowing for a structured offer with tiered pricing options.
Deep dives
The Importance of Pricing in Membership Offers
Effective pricing is crucial when building a membership offer, and it revolves around three key concepts: results, replacement, and respect. Members should perceive the value of the transformation and results they can achieve through the membership, which justifies the price. Additionally, identifying what existing services or products the membership can replace helps position its worth in the market. Lastly, setting a price that respects both the members' investment and the time and resources of the provider ensures that the community is prioritized, leading to better engagement and outcomes.
Successful Membership Models and Examples
Various successful membership models demonstrate the effectiveness of a well-structured offer, often incorporating layered pricing and additional programs. For instance, a horse training membership charges $59 monthly while offering supplementary quick courses, showcasing how to enhance value. Another example includes a motorcycle academy with a premium membership of $99.99 that adds specialized courses, illustrating how tiered approaches can cater to diverse needs within the community. These examples highlight that a solid foundational membership can pave the way for incremental offerings, making the experience richer and ensuring continued member engagement.
People pay attention to what they pay for. In this episode, Gina breaks down why charging more may actually keep people coming back to your community especially if they are receiving amazing results and transformation. The average monthly price of a Mighty Networks membership might surprise you but it also might give you confidence in the value you are providing for your ideal member.
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