You want to have a membership site, but what should the price be, Should it be free, And how can you justify the price you charge,
These are all very good questions and the first thing I want to tell you is that a free membership site is something that should come later. For now, charge a fee for access of this site. Just to make it simple, for now charge a one-time fee, not a recurring fee, just charge a one-time fee, even if it’s $20, $50, whatever seems about right, charge now and worry about the free membership site later. The point of a free membership site is to get a lot of people in and to get a lot of participation, and I prefer to set-up the paid membership site first, so that when it’s time to make the free membership site I can push them all into buying the paid program. The free comes later, charge for now.
But what exactly should you charge, Does $50 sound right, or does $20 sound right,
The easy answer is to look at what your competitors charge. I will look at my top 5 competitors and average out that price they all charge and that will be around what I should ask for. Maybe you have some of thousand dollar people in there, some of hundred dollar people, and the average price point is $500, then look at how those competitors justify the price they should charge. And naturally the secret because whether you’re asking $10, $20, $50, if you can show a clear result, then you can justify that price. That’s why there were some weight loss products for hundreds or thousands of dollars because they explain to you, “if you pay this money, you can get these results.” That’s why real state courses start at $1000 on the low end, because, you take a training, you flip a house, you get thousands of dollars back.
Charge for your membership site, for now, make it a single-payment site, worry about the monthly site later, don’t make it free, but charge for your site. Look at what the competitors are charging and figure out what clear result you can promise or, at least explain so that any price you offer seems cheap.