There is a way out for the new marketers on how to introduce your membership site at a cheap price to attract customers and increase the prices afterwards. This method gives you a chance to begin at a low rate, whereby in the beginning you don’t need to have a lot of members. As time goes by you can increase the rate since you have done you marketing and the few members you already have also done some promotion for you and you feel comfortable enough to increase the subscription cost.
The seven dollar strategy bump means that during the launch of your website, the subscription is set at $7 a month. After introduction of a few members, you can carry out a thorough examination of your sales letter and obtain a little information on the status of the membership site. If the analysis bears a certain threshold, then you can increase the subscription cost.
The importance of this is to show that the prices are increasing instead of decreasing. When you are starting off, you can set the prices at $7 to generate interest in the product and have people buy. The buyers will then be expected to market your site to friend and family members who in turn will come buy and bring in more people. When you realize that enough people are actually buying a product, you can go ahead and place more orders for the product but this time around you increase the sale price.
The same concept applies to stocking products in your online shop. You may not need a lot of item quantities for the first month since buyers are only purchasing at $7 monthly, you only require few videos that you are offering a cheaper price. This is because $7 and $17 encourage impulse buying due to low by price points whereby people will be forced to purchase because it’s going for a cheaper price than what a product actually costs.
Having a lot of sales letters that are going for $7, which is equal to over 12% of the original price and have no guarantee or any proof whatsoever is no recommended as it normally results in contention. Getting sales which happened in a prior offer is a cheaper way for a beginner and someone who is acting in haste to attract new members to his site.
It becomes interesting as people join your membership site whereby they ask you questions and you end up creating good videos and start having live webinars. If the site is still operational for three to nine months then you can proceed and increase the prices and subscription fees.
You can gradually increase your prices from $7 per month and increase it to $10 monthly up to the desired price of $97 where it settles. That’s exactly how the Seven Dollar Bump Strategy works.
To start off your own single payment site, you can learn one by one on how to introduce your own membership site by visiting http://www.membershipcube.com