I have been studying for hours on the right pricepoint.
Since I do not have to much authority in the IM niche, would it be better to price a membership between $10-$17 a month, just to get started and then later raise the price when I have testimonials and success stories. I know for a fact that many people are not completely in love with paying $37 membership fees. So if it´s lower they might stay in longer if the content is good.
Price points are very much your choice and how you justify what you’re charging. Maybe using the Dan Kennedy style of comparing apples to oranges – he often charges the same for the DVDs of a conference as for attending the conference in person as you’re not travelling or paying hotel bills.
Build the value and deliver on it.
Dennis Becker started cheap and is still (I think) fairly cheap.
Sean’s are around $30 / month; Paul Nicholls has moved up to about the same price. I’m aiming for a similar monthly price.
Terry Dean charges (from memory) $67 /month for a reasonably short weekly insights video and access to a fairly sluggish forum.
Testing is the only real answer – and once you know the dropout time, consider sending an upgrade email at some stage in your sequence for a year’s worth of membership at a discount price that’s higher than you’d have got if they’d dropped out after X months.
I agree with Trevor – definitely personal preference and what you want to target
but keep an eye on LTV with $10 – $17 a month – I think that price converts well up front but if it’s not enough $$ for YOU to keep the membership current and create a community – then folks don’t stay long –
long term conversion might favor $30 – $40 a month