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© 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. Pricing Boot Camp for Subscription & Membership Sites Presented.

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Presentation on theme: "© 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. Pricing Boot Camp for Subscription & Membership Sites Presented."— Presentation transcript:

1 © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. Pricing Boot Camp for Subscription & Membership Sites Presented by: Anne Holland Founder Subscription Site Insider Sean Donahue Editor Subscription Site Insider

2 © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

3 $34.99 vs $59.95 © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

4 Part #1. Pricing Psychology © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

5 Insider’s Rule #1 (of 7): © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

6 Rule #2. © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. $7 $70 $700 $9 $90 $900 $95 $97 $99

7 Rule #3. © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. $30s $300s $40s $400s http://www.PricingPsychology.com

8 Rule #4. © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. Tiny Co. Entrepreneurs Big Co. Executives

9 Rule #5. Groups © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

10 Rule #6. © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. $200 vs $200.00 Price Tag

11 Rule #7. © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. $200 vs $200.00 -Non-discounted price -Premium Value -Savings

12 PricingPsychology.com Making your price “feel” smaller (Part 1) How you position your price is as important as the actual number. This format has been proven time and again to make your normal price seem like a great bargain. What you getValue Year's subscription to XYZ Publ.$435 Report: [title]$135 Report: [title]$95 Discount for annual conference$55 Other$60 TOTAL VALUE$780 YOU PAY ONLY$435 © 2010 Marlene Jensen, http://www.PricingPsychology.com http://www.PricingPsychology.com

13 The mention of a larger number before quoting your (lower number) price will increase the amount a consumer is willing to pay for your product. Even if the larger number has nothing to do with your price(!) Copy idea: – Because a subscription to [XYZ] includes [list key benefits], we were advised to price it at $[large number]. Instead… PricingPsychology.com Making your price “feel” smaller (Part 2) © 2010 Marlene Jensen, http://www.PricingPsychology.com http://www.PricingPsychology.com

14 Examples: © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. PRICING PSYCHOLOGY REPORT should be priced at $150 or more, given that the wisdom it contains from thousands of price- testing marketers could easily increase your profits by thousands (or hundreds of thousands!) of dollars. BUT... if you order today,, the report can be yours for just $47! © 2010 Marlene Jensen, http://www.PricingPsychology.com http://www.PricingPsychology.com “If you are selling an options trading course on video, first mention your $1 million minimum private managed accounts... your $5,000 trading advisory … and your $2,000 live seminar. By the time you get to the videos, the prospect will actually be relieved that they are only $299.” © 2010, Bob Bly http://bly.com/blog/

15 Value Reminders: © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

16 Part #2. Offers © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

17 Weekly vs Monthly © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

18 Use Monthly to Push Annual © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. $ 10 per month $120 per year $ 50 per month $120 per year

19 High to Low © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

20 Best Choice! © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

21 Pricing per Month (not Term) © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

22 Initiation Fees: © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

23 “Special” Offers © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. - $ off vs % off - Premium - Deadlines - Guarantees

24 Geo-Pricing © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

25 Part #3. Price Testing © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

26 Surveys = Fairly Worthless © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved.

27 Except With Pricing Software © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. Discrete-choice conjoint software vs. conjoint analysis using “ranking form” 300-500 respondents minimum

28 A/B Price Testing © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. http://SubscriptionSiteInsider.com Included in your Insider Membership

29 Key, Pick a Goal © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. - Highest price per account - Total revenue - Most units sold possible - Longest account lifetime - Accounts that are easy to upsell/cross-sell to

30 Lessons Learned Data Sources: MarketingSherpa Case Studies This slide © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. $7 vs $9 “Profits Tripled” $59.95 vs $79.95 “Higher price won” $24 vs $29 “No Difference in Response Rates” $10 price increase boosted conversions

31 Contacts, Thanks & Q&A © 2010 Subscription Site Insider, published by Anne Holland Ventures, Inc. All rights reserved. SeanD@SubscriptionSiteInsider.com (401) 354-7555 http://SubscriptionSiteInsider.com Included in your Insider Membership Michael McCurdy, TestingMom.com Marlene Jensen, PricingPsychology.com Bob Bly, Bly.com MarketingSherpa.com

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