I'm trying to figure out what would be the best pricing strategy. This is for a membership site.
Currently I have:
57 for 6 months
127 for 24 months
197 for Lifetime
Most just order the 57 which bites because it really doesn't amount to much.
I had a couple price change options that I was considering:
OPTION 1)
57 for 6 months
77 for 24 months
97 for Lifetime
So that way people comparing would thinking "might as well just go with the 97 since it's only a bit more" and they'd be getting so much more! The idea being I'd maybe get more at 97.
I also refer product marketing video (http://blog.advids.co/20-brilliant-product-marketing-video-examples/) to decide a affordable price of product.
OPTION 2)
37 per month
or
97 for Lifetime
This is a popular option that I seen on a few other membership type sites.
Or is there some other strategy that I could use? As far as all these other options such as backend products and continuity etc etc. I will get to those eventually. But I don't have time right now for those. I'm just concentrating on trying to pin down a pricing strategy that might work best?
This is not really a VirtueMart question, but a question about whether people think your product is worth paying for if it turns out to be not as good as expected so not worth the money. Most people would probab;y choose the cheapest price, then if it is a "must have" product then they may choose 24 months next time - lifetime suggests that the site would be around for ever, so a 17 year old would still have access at 97 years old. Doubtful if that is a valid propostition.