{"id":31574,"date":"2022-03-31T05:00:00","date_gmt":"2022-03-31T11:00:00","guid":{"rendered":"https:\/\/memberpress.com\/?p=31574"},"modified":"2022-11-16T15:13:58","modified_gmt":"2022-11-16T22:13:58","slug":"underpricing-membership","status":"publish","type":"post","link":"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/","title":{"rendered":"Are You Underpricing Your Memberships? (4 Questions to Ask Yourself)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Theres_nothing_worse_than_missing_out_on_money_you_could_could_be_making_with_a_simple_price_change_Find_out_if_this_is_you\"><\/span>There's nothing worse than missing out on money you could could be making with a simple price change. Find out if this is you.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Setting your prices is a bit of a game. You don't want to create sticker shock, but you also don't want to price things so low you're missing out on money or making your membership seem cheap.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69c09fe0cb1c3\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">WHAT'S INSIDE<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69c09fe0cb1c3\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#Theres_nothing_worse_than_missing_out_on_money_you_could_could_be_making_with_a_simple_price_change_Find_out_if_this_is_you\" >There's nothing worse than missing out on money you could could be making with a simple price change. Find out if this is you.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#Signs_You_May_Be_Underpricing_Your_Memberships\" >Signs You May Be Underpricing Your Memberships<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#Youre_a_new_entrepreneur\" >You're a new entrepreneur<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#You_feel_uncertain_about_your_pricing\" >You feel uncertain about your pricing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#Your_prices_are_way_below_industry_standard\" >Your prices are way below industry standard<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#4_Factors_to_Consider_When_Setting_New_Membership_Prices\" >4 Factors to Consider When Setting New Membership Prices<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#1_The_Value_of_Your_Services\" >1. The Value of Your Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#2_Your_Business_Expenses\" >2. Your Business Expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#3_The_Buying_Power_of_Your_Audience\" >3. The Buying Power of Your Audience<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#4_Your_Competition\" >4. Your Competition<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/memberpress.com\/es\/blog\/underpricing-membership\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>You've got to find that sweet spot.<\/p>\n\n\n\n<p>Fortunately, calculating the ideal price for your membership levels doesn't need to be difficult. As long as you <strong>assess your business and do your market research<\/strong> properly, you're likely to find a pricing strategy that works for you.<\/p>\n\n\n\n<p>In this post, we'll go over <strong>signs that you may be undercharging your members<\/strong>. Then we'll discuss <strong>four factors to consider to help you set fair prices<\/strong>. Let's begin!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why-you-may-be-underpricing-your-memberships\"><span class=\"ez-toc-section\" id=\"Signs_You_May_Be_Underpricing_Your_Memberships\"><\/span>Signs You May Be Underpricing Your Memberships<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Whether you're <a href=\"https:\/\/memberpress.com\/blog\/how-to-start-a-membership-site-to-sell-art-and-design\/\" target=\"_blank\" rel=\"noreferrer noopener\">an artist<\/a>, <a href=\"https:\/\/memberpress.com\/blog\/membership-site-recipes-cooking-videos\/\" target=\"_blank\" rel=\"noreferrer noopener\">a chef<\/a>, an <a href=\"https:\/\/memberpress.com\/blog\/online-course-creator\/\" target=\"_blank\" rel=\"noreferrer noopener\">online course creator<\/a>, or an <a href=\"https:\/\/easyaffiliate.com\/blog\/affiliate-marketing-for-beginners\/\" target=\"_blank\" rel=\"noreferrer noopener\">affiliate marketing<\/a> expert \u2013 it can be hard to determine the value of your services when <a href=\"https:\/\/memberpress.com\/blog\/online-membership-site-wordpress\/\" target=\"_blank\" rel=\"noreferrer noopener\">building a membership site<\/a>. <\/p>\n\n\n\n<p>However, <strong>underpricing your levels can be disastrous <\/strong>for the future of your membership business.<\/p>\n\n\n\n<p>Here are three tell-tale sign you might need to do some pricing reevaluation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Youre_a_new_entrepreneur\"><\/span>You're a new entrepreneur<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Even the most <a href=\"https:\/\/memberpress.com\/blog\/7-habits-of-successful-membership-site-entrepreneurs\/\" target=\"_blank\" rel=\"noreferrer noopener\">successful entrepreneurs<\/a> may find themselves struggling when establishing the price of a service. If you're starting up a new membership site, it can be tough to determine how much your website is worth to its potential members.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838.jpg\"><img decoding=\"async\" width=\"724\" height=\"483\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838.jpg\" alt=\"two young entrepreneurs counting money\" class=\"wp-image-36347\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838.jpg 724w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838-300x200.jpg 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838-255x170.jpg 255w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838-700x467.jpg 700w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838-156x104.jpg 156w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1295534838-600x400.jpg 600w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><\/a><\/figure>\n\n\n\n<p>An online membership may include some physical products, such as printable content or branded gear, but these are typically minor perks. Therefore, the website is an overall service-based commodity.<\/p>\n\n\n\n<p>If you're a new entrepreneur, you may not be aware of that or other factors that should go into your pricing structure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"You_feel_uncertain_about_your_pricing\"><\/span>You feel uncertain about your pricing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Some online business owners can suffer from <a href=\"https:\/\/www.verywellmind.com\/imposter-syndrome-and-social-anxiety-disorder-4156469\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">imposter syndrome<\/a>. This insecurity often leads to underpricing. If you're new to the business world, you may be sabotaging your plans by undervaluing yourself and your membership site. <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649.jpg\"><img decoding=\"async\" width=\"780\" height=\"448\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649.jpg\" alt=\"man who looks uncertain\" class=\"wp-image-36348\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649.jpg 780w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649-300x172.jpg 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649-768x441.jpg 768w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649-296x170.jpg 296w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649-700x402.jpg 700w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1169713649-156x90.jpg 156w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><\/a><\/figure>\n\n\n\n<p>Generosity is a noble trait. However, if you want your company to survive, you'll need a sustainable <a href=\"https:\/\/easyaffiliate.com\/blog\/affiliate-marketing-business-plan\/\" target=\"_blank\" rel=\"noreferrer noopener\">business plan<\/a>. Furthermore, the nature of a business is constantly changing. This is especially true for membership sites since they're fully digital.<\/p>\n\n\n\n<p><strong>If you feel a wave of uncertainty when you think about your prices, it's a sure sign you need to take a second look. <\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_prices_are_way_below_industry_standard\"><\/span>Your prices are way below industry standard<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Setting your initial pricing to deeply undercut the competition can sometimes be a good strategy \u2013 <em>but only in the very beginning<\/em>. <\/strong>If it's been over a year or so, and you haven't adjusted your fees, there's a good chance you're underpricing. <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223.jpg\"><img decoding=\"async\" width=\"724\" height=\"483\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223.jpg\" alt=\"relationship between price and value\" class=\"wp-image-36349\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223.jpg 724w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223-300x200.jpg 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223-255x170.jpg 255w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223-700x467.jpg 700w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223-156x104.jpg 156w, https:\/\/memberpress.com\/wp-content\/uploads\/2022\/03\/iStock-1193782223-600x400.jpg 600w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><\/a><\/figure>\n\n\n\n<p>We know that charging higher prices or increasing your current fees might make you uneasy. However, pricing your services fairly will help your business in the long run. Overall, charging more will give you the flexibility to make improvements and provide an even better service to your customers.<\/p>\n\n\n\n<p>It'll also help you <strong>avoid presenting your brand as cheap and worthless<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"4-factors-to-consider-when-setting-new-membership-prices\"><span class=\"ez-toc-section\" id=\"4_Factors_to_Consider_When_Setting_New_Membership_Prices\"><\/span>4 Factors to Consider When Setting New Membership Prices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Now let's explore four factors that can help you establish fair membership prices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-the-value-of-your-services\"><span class=\"ez-toc-section\" id=\"1_The_Value_of_Your_Services\"><\/span>1. The Value of Your Services<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You should <strong>consider focusing on quality over quantity<\/strong> when designing your membership site. In the past, a content-heavy approach was more popular. However, membership trends have shifted to more <a href=\"https:\/\/memberpress.com\/blog\/start-community-membership-site\/\" target=\"_blank\" rel=\"noreferrer noopener\">community-centric online spaces<\/a>. <\/p>\n\n\n\n<p>Since the pandemic struck and more of the world went digital, online membership communities have become more common. These spaces enable members to connect and even learn new skills. <\/p>\n\n\n\n<p>Popular groups include <a href=\"https:\/\/circle.digitalnomadgirls.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Lab<\/a> and <a href=\"https:\/\/fwfg.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Find What Feels Good (FWFG)<\/a>:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2.png\"><img decoding=\"async\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2-1024x428.png\" alt=\"Yoga With Adriene's membership site, Find What Feels Good.\" class=\"wp-image-31594\" width=\"800\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2-1024x428.png 1024w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2-300x125.png 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2-768x321.png 768w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2-1536x643.png 1536w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/FWFG-membership-site-2-2048x857.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n\n\n<p>It's important to note that all of these popular membership websites provide stellar content and services. These offerings may include exclusive content such as videos, newsletters, events, and more. <\/p>\n\n\n\n<p>This valuable content enables these member sites to charge premium prices and entice new members. <\/p>\n\n\n\n<p>When choosing your membership fees, you need to honestly evaluate the work you're doing. Reflect on how your membership services have evolved so that you can account for that difference. <\/p>\n\n\n\n<p>Alternatively, if you're just getting started, consider the actual value of your offerings now. <\/p>\n\n\n\n<p>Remember that <strong>underpricing may be off-putting to your customers<\/strong>. Many people are willing to pay for a quality product or service. They might be skeptical of investing in your membership if they perceive it as too cheap.<\/p>\n\n\n\n<p>Finally, we'd advise getting comfortable with the idea that the value of your membership will constantly change. Therefore, it would be wise to <strong>consider regularly assessing how your progress will affect your pricing<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-your-business-expenses\"><span class=\"ez-toc-section\" id=\"2_Your_Business_Expenses\"><\/span>2. Your Business Expenses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As an entrepreneur, you're probably very mindful of <a href=\"https:\/\/memberpress.com\/blog\/budgeting-tips-for-online-businesses\/\" target=\"_blank\" rel=\"noreferrer noopener\">your budget<\/a>. However, your expenses can get confusing if you're running a fast-evolving online business. <\/p>\n\n\n\n<p>For example, you may forget to account for specific digital tools or software services that you use. Or worse, perhaps you've fallen into <strong>the age-old trap of \u201cnot paying yourself\u201d for the sake of the business<\/strong>.<\/p>\n\n\n\n<p>If that's the case, you may want to consider working with a business manager or a financial planner to help you audit your overhead costs. Seeing every cent you spend on your company can make a huge difference when you're deciding what to charge your members.<\/p>\n\n\n\n<p>For an example, take the exclusive offshoot of <a href=\"https:\/\/digitalnomadgirls.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Digital Nomad Girls<\/a>, The Lab. After conducting a detailed business assessment, the company decided to increase its membership fees significantly \u2013 which turned out to be a great move. <\/p>\n\n\n\n<p>Don't be surprised if your audit also inspires you to bump up your pricing:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing.png\"><img decoding=\"async\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing-1024x680.png\" alt=\"Digital Nomad Girl's exclusive membership community, The Lab.\" class=\"wp-image-31595\" width=\"800\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing-1024x680.png 1024w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing-300x199.png 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing-768x510.png 768w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing-1536x1020.png 1536w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/The-Lab-membership-site-pricing-2048x1360.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n\n\n<p>Such a drastic change may seem scary. However, remember that closely examining your business expenses can help you establish <strong>realistic <\/strong>membership fees. This pricing structure can serve as the backbone of a strong financial plan for a long-lasting service. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-the-buying-power-of-your-audience\"><span class=\"ez-toc-section\" id=\"3_The_Buying_Power_of_Your_Audience\"><\/span>3. The Buying Power of Your Audience<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you have a strong business plan, you should also have a clear picture of your target audience. However, it's never too late to establish your <a href=\"https:\/\/www.linkedin.com\/pulse\/how-do-i-build-my-customer-avatar-jon-allen\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">customer avatar<\/a>. <\/p>\n\n\n\n<div class=\"block-mp-button-wrap\">\n\t<a id=\"button-block_625892371f3b6\" href=\"https:\/\/memberpress.com\/blog\/finding-your-target-audience-for-your-membership-site\/\"  target=\"_blank\" class=\"button button-blue center\">READ >> How to Identify Your Target Audience (Fast & Free)<\/a>\n<\/div>\n\n\n\n\n<p>In particular, you may want to<strong> consider the typical disposable income of your members<\/strong>. You should also reflect on your member values when you do this. <\/p>\n\n\n\n<p>For example, if you cater to high-earning venture capitalists who are used to paying top-dollar, you may want to up your prices. These members may even be able to write off their membership fees as company expenses: <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1.png\"><img decoding=\"async\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1-1024x594.png\" alt=\"Los Angeles Venture Association corporate membership.\" class=\"wp-image-31597\" width=\"800\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1-1024x594.png 1024w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1-300x174.png 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1-768x445.png 768w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1-1536x891.png 1536w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Venture-capitalist-membership-1-2048x1187.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n\n\n<p>Alternatively, if activism and equity are core values to your membership site, you may want to <strong>offer multiple payment plans based on member income<\/strong>:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing.png\"><img decoding=\"async\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing-1024x488.png\" alt=\"Study Hall 'Media Workers of Color,' membership fees.\" class=\"wp-image-31599\" width=\"800\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing-1024x488.png 1024w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing-300x143.png 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing-768x366.png 768w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing-1536x732.png 1536w, https:\/\/memberpress.com\/wp-content\/uploads\/2021\/12\/Study-Hall-membership-pricing.png 1712w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n\n\n<p>If you have a large enough audience, and your site serves as a database, you can even offer <strong>subsidization discounts<\/strong>. <\/p>\n\n\n\n<p>For instance, <a href=\"https:\/\/studyhall.xyz\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Study Hall<\/a> is a resource-focused network for writers. It provides a much more affordable plan for \u201cMedia Workers of Color\u201d in an effort to address industry disparities.` <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-your-competition\"><span class=\"ez-toc-section\" id=\"4_Your_Competition\"><\/span>4. Your Competition<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When it comes to pricing, <strong>it's essential to research your competition<\/strong>. That being said, the goal of your research shouldn't be to establish the median price and charge much lower.<\/p>\n\n\n\n<p>Consider the rates of your peers as a general marker of what is realistic for your membership model. Then, you can decide how the value of your site compares. Remember that competition isn't necessarily bad.<\/p>\n\n\n\n<p>For instance, there are many free fitness apps out there. <a href=\"https:\/\/www.fitbit.com\/global\/us\/app\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" title=\"the Fitbit app\">The Fitbit app<\/a>, which costs about $10 per month, remains successful due to the superior quality of its personalized content:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-scaled.jpg\"><img decoding=\"async\" width=\"1024\" height=\"601\" src=\"https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-1024x601.jpg\" alt=\"fitbit app with fitbit device\" class=\"wp-image-36335\" srcset=\"https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-1024x601.jpg 1024w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-300x176.jpg 300w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-768x451.jpg 768w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-1536x901.jpg 1536w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-2048x1202.jpg 2048w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-290x170.jpg 290w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-840x493.jpg 840w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-1166x684.jpg 1166w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-1755x1030.jpg 1755w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-700x411.jpg 700w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-156x92.jpg 156w, https:\/\/memberpress.com\/wp-content\/uploads\/2020\/03\/fitbitapp-1080x634.jpg 1080w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>As we mentioned before, underpricing can backfire, sending a red flag signal to your potential members. If you're cautious about the high rates you discover, you can always <strong>offer promotional discounts <\/strong>for new users who sign up for an entire year.<\/p>\n\n\n\n<p><strong>Overall, you should consider charging fees relative to your value, expenses, and your audience's buying power. <\/strong>However, neglecting to research your competition may cause your membership site to stick out like a sore thumb.<\/p>\n\n\n\n<div class=\"full-width-cta blue image-left\">\n\t<div class=\"full-width-cta-container\">\n\t\t<div class=\"full-width-cta__image\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/memberpress.com\/wp-content\/themes\/memberpress-theme\/images\/Guy1.webp\"\n\t\t\t\talt=\"cta character\"\n\t\t\t\tloading=\"lazy\"\n\t\t\t\twidth=\"485\" height=\"432\" srcset=\"https:\/\/memberpress.com\/wp-content\/themes\/memberpress-theme\/images\/transparent.gif 1w, https:\/\/memberpress.com\/wp-content\/themes\/memberpress-theme\/images\/Guy1-mobile.webp 543w, https:\/\/memberpress.com\/wp-content\/themes\/memberpress-theme\/images\/Guy1.webp 485w\" sizes=\"auto, (max-width: 767px) 1px, (max-width: 1023px) 543px, 485px\"\t\t\t>\n\t\t<\/div>\n\t\t<div class=\"full-width-cta__text\">\n\t\t\t<h3>Get MemberPress Today!<\/h3>\n\t\t\t<div><p>Start getting paid for the content you create.<\/p>\n<\/div>\n\t\t\t<div class=\"pricing-cta\">\n\t\t\t\t<a href=\"https:\/\/memberpress.com\/es\/plans\/pricing\/\" class=\"cta-button\">\n\t\t\t\t\tGet MemberPress Now\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/memberpress.com\/wp-content\/themes\/memberpress-theme\/images\/long-arrow-right-white.svg\" class=\"arrow-red\" alt=\"arrow\" width=\"20\" height=\"14\">\n\t\t\t\t<\/a>\n\t\t\t\t<a href=\"https:\/\/memberpress.com\/es\/features\">See All Features<\/a>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We know that asking people for money isn't always easy. This is especially true for community-based services such as membership sites. <\/p>\n\n\n\n<p>However, <strong>instead of allowing your prices to hold you back, you can use them to improve your business in the long run<\/strong>.<\/p>\n\n\n\n<p>Remember to consider the following factors when setting your membership prices:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>The value of your services<\/li><li>Your business expenses<\/li><li>The buying power of your audience<\/li><li>Your competition<\/li><\/ol>\n\n\n\n<p>Do you have any questions about setting fair prices for your memberships? Let us know in the comments section below!<\/p>\n\n\n\n<p><strong>If you liked this article, be sure to subscribe to our newsletter in the <a href=\"https:\/\/memberpress.com\/go\/box\" title=\"Box affiliate link\" class=\"pretty-link-keyword\"rel=\"nofollow \" target=\"_blank\">box<\/a> up to your right!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you unsure about how much to charge for your membership site? Learn why you may be underpricing and how you can determine a fair price for your services!<\/p>\n","protected":false},"author":76756,"featured_media":35499,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_strive_editorial_status":"complete","_strive_copy_of":0,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_strive_checklists":"\"\"","_strive_active_checklist":"62291e2bb2422","_strive_post_notes":"","footnotes":""},"categories":[69,121],"tags":[70,322],"class_list":{"0":"post-31574","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-advice","8":"category-pricing","9":"tag-membership-site","10":"tag-online-business","11":"entry"},"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 4.9.5.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Are you unsure about how much to charge for your membership site? 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