RANT: @runnersworld launched a subscription. GREAT! I love Runners World and want them to win. They have 18k sign ups. GREAT. But...they charge $30...A YEAR. That's $540,000 a year in revenue. That's just crazy to me.https://digiday.com/media/year-runners-world-signed-18k-digital-membership-program/ …
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I do not understand why most companies do not charge more. I think most people undercharge because 1) they copy others 2) an employee doesn't wanna suggest charging more and looking stupid/get fired 3) media folk/journalists want to be affordable for everyone
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But...with $540k a year in subscription revenue...that's nothing. You might as well make it free. I think a company like Runners World could surely make tens of millions in subscription revenue, training plans, and other things like that...if they got their pricing right.
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My opinion (which came from people much smarter than me) is that most companies should charge as much as 10x what they're currently charging.https://www.businessinsider.com/marc-andreessen-advice-to-startups-raise-prices-2016-6 …
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Replying to @theSamParr
Yep, same with a lot of membership sites / companies! This is such a great article on navigating this:https://growthlab.com/why-i-killed-a-2-million-dollar-product/ …
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Yes. I turn to @ramit a ton for pricing and positioning insights
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