By Michael Gillespie | Operator

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Consider:

• Would your program benefit most from a price increase strategy that acts as a feature or a lever? </aside>

Your membership stands to benefit from a clear and purposeful price increase strategy.

At some point, it’s guaranteed you’ll have to increase prices. For any membership program, a clear strategy for raising prices will directly reduce risk, provide confidence and set expectations among members.

A clearly designed pricing strategy:

✅ Reduces churn risk

✅ Provides operator confidence and conviction

✅ Sets expectations among members

✅ Provides a path to revenue expansion over time

Below is an outline to help structure your approach to raising prices in a way that aligns with your program’s benefits and member needs.

Part 1: Pricing Strategy: A Feature or Lever?

Part 2: Targets and Criteria for Price Increases

Part 3: Balancing Price Increases with Product Value

Part 4: How to Communicate Price Increases