Monthly or Yearly Subscription Model for a Digital Community?
I recently started building a digital community system inspired by the amazing Indie Hackers community (with a different subject though). In an effort to make some money from this new venture, I was planning to have a “Pro” level membership with various premium benefits.
For those of you who have experience with digital subscriptions with in digital communities, would you recommend a monthly or yearly subscription model? And why?
My subscription would probably fall in the $3/month or $30/year range.
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Two thoughts:
Do both to see what people subscribe to.
Charging $3 seems cheap and perhaps annoying/impractical to handle membership as is scales. I would personally charge more, or just do annual.
I am worried my pro offering isn't enough. I might do a seperate post asking for ideas on how to improve it to make it more valuable in the users eye.
Happy to have a a look over what you are offering.
If that is your price point, definitely yearly.
Just my opinion, but I wouldn't even offer monthly payment for a price less than $5 / month. At $5/month I'd consider something like "$5/month or $50/year"
I've run monthly subscriptions in the $1-2 range and was flooded with credit card scammers using the service to verify if a card was working. So I agree, I wouldn't offer plans that are low ticket like that.
That is great to know. Thanks!