Is Internet Marketing becoming more Expensive?
Over the years, there are several internet marketers who have increased the price of their products several times including their membership fees. Some have even doubled their prices! This may add barriers to entry for newcomers to the Internet marketing arena. Newcomers have to invest more to start their Internet marketing business compared to those that started earlier.
* Turbo Membership was only 67, now 97 and there was an announcement that it will increase to 147 in December 2008!
* Niches In A Box was 97, now with additional Elite Membership at 147.
* PLR Pro was 127, now upgraded to Project Green Button @ 147 which will increase in stages to 167 and 197.
The three products mentioned above are membership sites that provide members with new products monthly. Some even include features like hosting and an email autoresponder. Their prices have increased over the years and are set to increase again soon.
Internet Marketing Pricing Strategy
This is actually an Internet marketing strategy being used by many seasoned internet marketers where they have learned to increase their sales by adding value to their products and memberships and increasing their prices at the same time.
This kind of strategy actually works if the internet marketers can continually improve on their products and add value to their services. It can also increase customer loyalty of early members as these members find increasing value to keep their membership. This is because, early members can continue to enjoy improved features at the same price when they first joined the membership which new members have to pay more at the new higher rate.
With such practice, early members will not even skip any months’ payment as they will be afraid of losing their membership at the lower price. If their membership is being canceled, they will have to re-join at the new higher price.
This is a good strategy to learn from. However, one must be sure to be able to deliver or “over” deliver by adding more products, features and ultimately more value on a continuing basis. As such, new members will then be willing to pay the higher price for what he/she will be receiving in return. If this is not achieved, the products and services of the internet marketer will risk becoming too expensive to new customers.
So the question an internet marketer needs to ask is “Can I create enough value to command a higher price?”
The three memberships mentioned above have certainly achieved that successfully and from observation, the new standard price seems to be around 147…
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