Start Your Membership Business With Lower Prices
In 5 Tips to Help You Put a Price on Your Community, we mention that implementing a founding member price is a great way to incentivise members to sign up early on.
And throughout a membership business’s evolution, discounts, deals or free plans are other favourable approaches as noted in Establish the Right Membership Fees.
My Business LINCS Cafe, a successful digital networking group, started with a ‘pay-as-you-go’ model to create fans and offered a founders membership deal for a limited number of people thereafter.
Penetration pricing involves undercutting competition with temporarily relatively low prices to win market share. The strategy must be calculated correctly to avoid long-term losses!
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