Alternative pricing models can be powerful levers to reduce barriers to entry + improve accessibility to your product, service or event
Here are 7 creative approaches to pricing, implemented by some amazing individuals and organizations
A (long but juicy)🧵
Here are 7 creative approaches to pricing, implemented by some amazing individuals and organizations
A (long but juicy)🧵
1. Sliding scale
This might be the most well-known alternative pricing model, often used by counsellors + other complementary healthcare providers
It's typically available to folks with lower income/financial means
It's a great model for courses, workshops, events + more
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This might be the most well-known alternative pricing model, often used by counsellors + other complementary healthcare providers
It's typically available to folks with lower income/financial means
It's a great model for courses, workshops, events + more
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At @shinebootcamp we offer our Foundations program on a sliding scale
Using an adapted criteria developed by @taylorelysemo of @InnerWorkout we offer 3 tiers
Here's how it breaks down in actual sales:
Tier 1 (lowest $): 13%
Tier 2 (mid $): 38%
Tier 3 (highest $): 49%
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Using an adapted criteria developed by @taylorelysemo of @InnerWorkout we offer 3 tiers
Here's how it breaks down in actual sales:
Tier 1 (lowest $): 13%
Tier 2 (mid $): 38%
Tier 3 (highest $): 49%
2/
The results of our sliding scale pricing completely shut down the objective that "people will just select the cheapest option"
In fact, the detailed criteria empowers folks to self-select the right price FOR THEM - reducing friction + building trust right from point of sale
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In fact, the detailed criteria empowers folks to self-select the right price FOR THEM - reducing friction + building trust right from point of sale
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2. Reparative pricing
A twist on the traditional sliding scale offering lower-priced options for folks of marginalized identities such as BIPOC or Trans individuals
This pricing model is great for events, but could also be adopted by service- or consulting-based businesses
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A twist on the traditional sliding scale offering lower-priced options for folks of marginalized identities such as BIPOC or Trans individuals
This pricing model is great for events, but could also be adopted by service- or consulting-based businesses
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Modern Witches applies the reparative pricing model to their events - it's actually where I learned the term "reparative pricing"
Eg. Tix for its upcoming Winter Solstice event are $33 but they have 30 tickets available at the reparatory price of $11
modernwitches.org
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Eg. Tix for its upcoming Winter Solstice event are $33 but they have 30 tickets available at the reparatory price of $11
modernwitches.org
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3. Pay what you can
Similar to a sliding scale model, PWYC relates to income/finances
Often organizations will include a "suggested amount" but to be truly PWYC folks can opt out of paying altogether
@means_tv offers their subscription for $10/mo but also has a PWYC option
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Similar to a sliding scale model, PWYC relates to income/finances
Often organizations will include a "suggested amount" but to be truly PWYC folks can opt out of paying altogether
@means_tv offers their subscription for $10/mo but also has a PWYC option
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4. Pay what you *want*
Although similar in language to PWYC, the pay what you want model is slightly different in that it's grounded in trust + empowerment
Using this model, customers/clients get to decide for themselves what your offer is worth/what they're willing to pay
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Although similar in language to PWYC, the pay what you want model is slightly different in that it's grounded in trust + empowerment
Using this model, customers/clients get to decide for themselves what your offer is worth/what they're willing to pay
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If the pay-what-you-want model feels a bit scary, that's because we're conditioned NOT to trust people
You can ease this fear by offering "gentle" suggestions, like they've done at Rec Center (where pre-school meets art school!)
reccenter.space
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You can ease this fear by offering "gentle" suggestions, like they've done at Rec Center (where pre-school meets art school!)
reccenter.space
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5. Location-based pricing
@mariepoulin tipped me off about a free tool called Parity Bar (paritybar.com) which offers visitors discounts based on IP address
Built by @dannypostmaa, PB helps equalize purchasing power - "Because not everyone earns a US salary"
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@mariepoulin tipped me off about a free tool called Parity Bar (paritybar.com) which offers visitors discounts based on IP address
Built by @dannypostmaa, PB helps equalize purchasing power - "Because not everyone earns a US salary"
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6. Bursaries/scholarships
At @shinebootcamp we've offered bursaries since the beginning. When IRL was a thing we even covered hotel + flight
In Fall 2021 we awarded over $10k to deserving folks with financial need
We believe education should be accessible to everyone
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At @shinebootcamp we've offered bursaries since the beginning. When IRL was a thing we even covered hotel + flight
In Fall 2021 we awarded over $10k to deserving folks with financial need
We believe education should be accessible to everyone
10/
Bursaries are a great option for courses/programs, but can also be offered for events like @techseowomen's #WTSFest + @turingfest have done
*Just a reminder to not make bursary applicants jump through a ton of hoops to receive funding, which too can be a type of gatekeeping
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*Just a reminder to not make bursary applicants jump through a ton of hoops to receive funding, which too can be a type of gatekeeping
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7. Generous admission
Part sliding scale, part reparative pricing, the generous admission model allows customers to put their money where their mouth is
Eg. @ta7taliya's workshops, which centre around decolonization, offer 2 prices: General Admission + Generous Admission
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Part sliding scale, part reparative pricing, the generous admission model allows customers to put their money where their mouth is
Eg. @ta7taliya's workshops, which centre around decolonization, offer 2 prices: General Admission + Generous Admission
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At @shinebootcamp we use the Generous pricing model for Showcase tix ($15/$30)
But note, it should be reserved for businesses run by marginalized folks OR fundraising
In our case 100% of sales went to @RAVENtrust (an NGO working w Indigenous Nations to defend their rights)
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But note, it should be reserved for businesses run by marginalized folks OR fundraising
In our case 100% of sales went to @RAVENtrust (an NGO working w Indigenous Nations to defend their rights)
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Gatekeeping is the systematic limiting of a person's/group's access to resources, power + opportunities
One obvious + frequently used form of gatekeeping is inaccessible pricing
Implementing alternative pricing therefore can be a tiny act of rebellion in an unjust economy
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One obvious + frequently used form of gatekeeping is inaccessible pricing
Implementing alternative pricing therefore can be a tiny act of rebellion in an unjust economy
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