Notes

Picking THE PURCHASE PRICE That Maximises Profit
Choosing the proper subscription price will regulate how profitable your site is.

Get the price too low as well as your costs.....marketing specifically.......will eat into your margin. You could also put people off if the purchase price point provides perception of low value.

Get the price too high......particularly compared to alternative sources of information.... and you will put prospects off.

Before providing you some guidelines it is crucial to remember:

There is nothing to avoid you from changing the purchase price to test the market.

Many subscription website owners pluck a subscription fee out of your air when they launch their site. Often it's predicated on no more than a hunch. They never test whether it's too much or too low to increase their profit. It is difficult to change the price for a print publication, however, not for an online website.

Test! Test! Test!

There are no solid rules about how much you need to charge for access to your website, but listed below are 20 ideas to help you work out an ideal price for your subscription:

The monthly subscription can be anything from �1/$2 around �1,000/ $1,800. The most common subscription charges fall in the number �4.99/$4.95 - �19.99/$19.95.
A website with just 1,000 members charging $9.99 a month will generate about $120,000. If Investing In Lombok, Indonesia is run from home, even after costs it could generate a net income of over $100,000 for the individual publisher.
It is recommended that publishers provide a selection of payment plans with discounts for members ready to commit for longer intervals, for example:
9.97 /month, or
24.97 /quarter, or
87.00 /year
In the event that you offer three pricing points, you have a tendency to get most subscribers choosing the middle one. It is a psychological thing
You will probably have seen on charity collection forms either three donations. They do that because they know that most people will go for the middle one, that is usually set at a rate greater than people would normally give:
"Please tick the donation you wish to make:
5.00
25.00
50.00
Other"
If you provide a monthly price point, make certain that it is much higher than 1/12th of the annual. You want to encourage visitors to subscribe for as long a period as possible, whilst not putting off people who desire to test the water before fully committing themselves. E.g. Monthly 19.97, Annual 149
Offering just an annual subscription will greatly reduce your conversion rate as you are increasing the perceived risk for prospects registering. That is still the case although you may offer a 100% money-back guarantee
Remember that many payment providers will not enable you to charge an annual subscription because if the web site closes down they're liable for refunding members the outstanding balance for the rest of the 12 months. Consult with your payment provider before registering. Also make sure that they are able to take automatic monthly premiums if you are offering a monthly subscription. This is called 'Recurring Payments'
Generally speaking, sites aimed at consumers charge less than those targeted at businesses Consumer sites typically 30-120 per year Business sites typically 120 - 700 each year
Do you know the competitive resources of information for the potential audience? How much do they charge? If Manchester United charges �100 a year for membership of the state fan club, a competing online independent fan club should probably charge no more.
The more exclusive this content, the more you can charge. An extremely successful share trader, Vince Stanzione, charges �100 /$180 a month for a newsletter reporting what trades he could be about to make or has just made. Jay Abraham charges $300 a month for usage of his website that provides his personal suggestions about growing a small business (www.abrahaminsider.com)
Study magazines in your sector. How much do they charge? What's their circulation? How will you compete? There is no rule about charging much more or significantly less than them, but you have to make sure that your value proposition is more compelling when trying to attract new members. Remember as an online site you offer huge advantages over print. These benefits have a value you can charge for.
People love a deal! Set your price a little higher than you want to charge and discount it back. It has two benefits:
People perceive the value of the content reaches the higher price
Prospects feel they're getting a bargain
You can find psychological barriers in pricing. It is best to charge $4.95 per month than $5.00, or $9.97 is preferable to $10. There are also opportunities to push pricing up towards these barriers. For example in the event that you charge $385 per year, you can probably getaway with lifting the price to $397 without any impact on subscribe rates. Just don't break the $400 level as this is the next psychological barrier and can cause a fall in subscriptions.
Don't give discounts to loyal members! If a member returns year after year they perceive that the price they pay is equal to the worthiness they receive. You should reward their loyalty with bonus information, for instance a free ebook or a research report, but don't reduce the price. This is the very common mistake.
Offer promotional charges for one year, but don't drop the overall price. If you believe that you are passing up on a large market group because they are more price sensitive, offer them a promotional code/discount on the standard price. Don't drop the purchase price for all subscribers. A good example is if you decide you need to attract students who are usually very price sensitive.
DON'T ever consider, even for an instant, charging a one-time fee for lifetime's access. This was common in the early years of the web, but I haven't seen an individual site that has survived with this strategy
Test, ensure that you test again! One of the greatest benefits of the web is you can easily change pricing, offer discounts or promote free incentives with minimum effort and cost. For example send out two different price offers to two similar sets of prospects. Measure the response rate and margin to determine that offer is most profitable. Then develop a new offer and check it out contrary to the best of the first offer...... etc. This is known as "AB Testing"
You can also consider offering trials, but be sure you get the customers charge card details before the trial starts and obtain them to agree that after the trial has ended you will automatically bill them if you don't receive written instruction never to.
I hope that you discover this advice useful. It's been put together from the knowledge of helping a large number of online publishers decide on the subscription fees because of their membership websites. Please take time to research and choose the right price. It is the most important decisions you'll make in determining how successful your organization will be.

Miles Galliford is the co-founder in SubHub - www.subhub.com . The business is really a world leader in helping individuals, small publishers and organisations to set up paid memberhip websites. For huge amount of FREE information and resources visit www.subhub.com .
Read More: https://studenttcareerpoint.com/buying-lombok-indonesia-how-exactly-why-and-what-you-should-have/