Will Sam's insights change your pricing strategy? 🤔
What did @Sam Ovens say? Well, in the Skool Games Opening Ceremony that happened this week, Sam said something along the lines of (I am paraphrasing here 😆) "Skool communities who have lower prices seem to have lower churn, higher retention and grow their MRR more steadily" ~ or something to that effect LOL 😂 So why should you care?🤔 Well he also referenced streaming services, their prices etc. so I went to look for some data. 🤓 Here's a screenshot from Statista 👇 As low as $6.99/mo to as "high" (that is relative) to $22.99/mo And if you use Google's AI answer (second image) the average cost of streaming services is $43/mo or $500/year And then if you look at the leaderboards on Skool there are some interesting correlations. Forex For Women VIP Members - is at $35/mo (5.5k members) and added $210 in the last 24 hours ANIME SHREDS |英雄| - is at $19/mo (4.3k members) and added $117 in the last 24 hours Tattoo Masterclass - is at $39/mo (476 members) School of Barbering - is at $49/mo (360 members) Piano4Producers Academy - is at $29/mo (891 members) 'New Year New You' Event - TLC - $49/mo (1.5k members) and added $1003 in the last 24 hours and countless other examples You could argue that the average is higher on Skool - which would be fair, it is its own ecosystem for education. So we're not being entirely fair comparing streaming services and education but if you look at educational creators on Skool there is a stark correlation between lower ticket pricing, growth and retention. E.g. there are folks on the leaderboards who have lost $5k+ in the last 24 hours. And yes there is an argument to be made that when you win big you lose big and it's just swings and round abouts.