Is Pay Per Post a Good Way to Monetize Your Membership Website?
There has been a lot of discussion lately about whether or not using the Pay Per Post option within the Magic Members WordPress plugin is a good idea for membership sites that already offer regular memberships. To most people it would seem that adding an additional revenue stream is always a good idea, however other wonder whether or not an additional pay per post option could actually cause current members to cancel their membership and only pay for the posts that they want to read. However, as long as you use the pay per post function wisely, it should never be the cause of membership turnover. If anything, it should actually increase your number of members. Here are some guidelines to keep in mind when using the pay per post option along with your regular membership subscription.
1. Make the Membership a Better Deal
One of the reasons that people have found great value in the pay per post function is because it allows them to monetize visitors that would otherwise have left your membership site without purchasing anything. The key to making sure that members don’t cancel their membership is to make it more cost-effective to remain a member. For example, if your monthly membership fee is $20 and the members get on average 10 articles a month, then you don’t want to charge $1 with the pay per post function because they could then purchase every article for $10. Instead, you should charge a premium because the people who purchase the articles likely will not purchase another one. By charging $4 an article, members will remain members, but you can still monetize non-members.
2. Promote Your Membership
While the pay per post option is a great way to monetize a membership site, it should also be used to promote your membership. For example, you can send people who purchase a single post a special link that allows them to get a discount on their first months membership. Another tactic is to try and up-sell them before they purchase the post. You could say something like “Instead of paying $4 for this post, you can become a member for $20 a month to receive all 10 articles – That’s a 50% savings!”
3. Setting Up Pay Per Post For Current Members
Another great way to use the pay per post function is to get current members to upgrade their membership. Let’s say you have 3 different membership tiers – bronze, silver, and gold. You can set it up so that your bronze members can purchase the silver member content for $X per post and gold member posts for $Y. You can also set up “post packets”. Let’s say your membership payments are $10 (bronze), $25 (silver), and $50 (gold). Your bronze members can purchase the additional content given to your silver members for the current month for an additional $20. This not only makes you extra money on the packet, but also because it is a better deal for a bronze member to upgrade their membership rather than purchase the packet (especially if they have already purchased several packets).
As you can see, as long as you use the pay per post function strategically, it will not only increase your total income, it will also increase your membership base and even get current members to upgrade their membership level.