Establish the Right Membership Fees | Ugenie | Community Tips

1 min read
October 11, 2021

Choosing the right pricing strategy for your membership requires research as you ideally want to aim for a ‘sweet spot’ between member loyalty and revenue.

Due to the sheer range of membership businesses out there, there’s no ‘right’ price. When we say ‘right’, we mean the right price for your business’s case.

Below is a list of steps to take to find the right pricing for your membership business.

Steps for Pricing Strategy

  1. Calculate the value you offer to your members

  2. Calculate the costs associated with running your membership business

  3. Forecast the revenue you hope to achieve

  4. Decide on the regularity of your membership fees

  5. Decide if a tiered pricing structure is necessary

  6. Consider offering discounts, deals or free plans

  7. Continually conduct price-specific market research

If you are a community leader, or in the business of community, try a Ugenie hub, for free, for 45 days.

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