How to choose a pricing strategy for your Onlyfans Subscription | Ebonynsweet

Date August 22, 2019 | Author Stanley M.

Setting prices for your products can be tough. However, choosing the right pricing strategy can be beneficial. Out Magazine published that Onlyfans LLC claim that Adult Models on their platform earn the average of $1,500 per month. While various factors can affect a business’s revenue potential, one of the most important factors is the pricing strategy that its owners utilize.

If you’re not familiar with what a pricing strategy is or how to choose between different prices for your services, now is the time to learn. Once you have a firm understanding of what a pricing strategy is, you can start reviewing the various approaches and choose the best one for your product.

What is a pricing strategy and why is it important?

In short, a pricing strategy refers to all of the various methods that small businesses use to price their goods or services. It’s an all-encompassing term that can account for things like:

•     Market conditions
•     Actions that competitors take
•     Consumers’ ability to pay
•     Production and distribution costs 

Pricing strategies are useful for numerous reasons. And choosing the right price for a costumed-made or private video will allow you to maximize profit margins if that’s what you want to do. Contrary to popular belief, pricing strategies aren’t always about profit margins. For instance, you may opt to set the cost of a good or service at a low price to maintain your hold over your subscribers and prevent competitors from moving in on your territory. It can also take into account many of your business factors, like target audience, brand positioning, and product attributes. They’re also influenced by external factors like consumer demand, competitor pricing, and overall market and economic trends.

In these cases, you may be willing to sacrifice profit margins in order to focus on competitive pricing. A good rule of thumb to remember when pricing products is that your customers won’t purchase your product if you set prices too high. Set them too low, and you miss out on valuable revenue.
  
Thankfully, pricing doesn’t have to be a sacrifice. And that's why I put together this guide.

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💬I recommend using a combination of these pricing strategies when pricing digital products: competition-based pricing, freemium pricing, and value-based pricing.💬
 

Competition-Based Pricing Strategy

✔️Competition-based pricing is also known as competitive pricing or competitor-based pricing.

A competition-based pricing strategy uses the competitors’ prices as a benchmark. Businesses who compete in a highly saturated space may choose this strategy since a slight price difference may be the deciding factor for customers.
 
With competition-based pricing, you can price your products slightly below your competition, the same as your competition, or slightly above your competition. 

For example, if you sold live webcam sessions, and your competitors’ prices ranged from $10.00 per show to $20.00 per show, you’d choose a price between those two numbers. Or price-out your competition and set a lower fee. Doing this can persuade your customers to do business with you instead.

Whichever price you choose, competitive pricing is one way to stay on top of the competition and keep your pricing dynamic. 
  
Look at the modified chart below. I've took a fair and balanced approach to reflect what I believe the marketplace would suggest the price should be for content produced by a Amateur model.
 

Lets continue and compare my chart (above) with popular DVD retailer Adult Empire. And learn how professional pornography companies price their digital content on the marketplace.

Below you will see the pricing for a popular film produced by Devil's Film titled Dark Divas 3 Featuring September Reign.

This film has the running-time of 111 minutes or 2 hours, 5 minutes for the cost of  $21.99 to download an HD copy. While the cost of individual scenes are priced at $5.99 each.

Here they use a combination of Value Pricing and Competition-based pricing.

You can see that each scene averages over 25 minutes, which offers a high value at an affordable price. 

The individual sale of a video that's less than 10 minutes isn't very feasible. This is because that video should be priced at just under $1.00 — in this case, it won't help you toward reaching your revenue goals. So, you should primarily sale longer videos to maximize your profit. If you do attempt to sale a short video for a high fee, you could risk losing your customers.

Furthermore, If a professional video that's nearly 30 minutes in length can sale for $5.99 at retailers. Your own price should be set similarly to reflect your true value —which is formulated based on the length of the video, digital resolution (HD, 4K, 1080P, 720p, 480p) and your amateur status in the industry.

It could be extremely difficult for amateur models to match a professional DVD retailer. So take action and test different pricing levels to see what your fans responds to the most.

If you have any questions, feel free to email me at contact@ebonynsweet.com

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