How to set plan prices
When setting your plan prices, it's completely up to you. There is a minimum, but you’re free to decide how you would like to arrange your prices.
If you’re looking for some guidance, we’ve put together some recommendations and hints that have worked well for Steady publishers so far.
Setting plan prices - three useful tips
1. Offer between 1 and 3 plans
1 plan: Keeps things simple. This ensures the quickest possible setup.
3 plans: This way your potential members have a choice and can decide on the price they are able to pay.
We recommend keeping your benefit offerings as simple as possible. This ensures that you do not create any unnecessary work for yourself.
In our experience, you do not need to offer any additional benefits to attract paying members.
2. Think about your publication and your community
The prices ultimately depend on your publication and your audience.
What does your target group look like?
How much are the people from your community willing to give?
How many competitors do you have?
If you’re not sure of the answers, poll your community on Instagram or in your newsletter.
3. Don't set the prices too low
The price you charge for your plans is the gross price, which means that VAT, transaction fees and Steady’s 10% commission will be deducted, and you will receive the rest. That’s why you don’t want to set the price too low.
Remember: You can easily add plans with lower prices later if you have the impression that your prices are too high.
We also recommend raising the price of your plans every two years. In our experience, members will be willing to continue supporting you at a higher rate after you have established trust that you deliver your membership promises. This will also help account for inflation.
The minimum for the plan price depends on the currency
Depending on which currency you have set for your project, different minimum prices apply:
Recommended prices for 3 plans
Of course, the prices you set will depend on your individual publication. However, if you need guidance, the following table will help you. In our experience, these 3 prices (monthly) work successfully as plan options.
Recommended price for a single plan
When you are only offering one plan, it's best to choose a price somewhere in the middle. Then you should use the middle column of the table above as a guide.
In addition to monthly plans, you may also choose to offer your members annual plans. Annual plans can include a discount over the price of 12 monthly payments, but this is not obligatory.
You will be prompted to choose a monthly price for your annual plan. This means that your potential members will be able to see the savings on purchasing an annual plan over a monthly, encouraging them to commit to you longer!
👀 Read more: The added benefits of annual plans