Discounts are an impactful strategy to allure more paid members to your site, adaptable to various customer incentives.
Limited-Time Discounts invoke a fear of missing out.
Permanent Discounts give a sense of obtaining a bonus.
Event Discounts (e.g., holiday or seasonal) produce urgency due to their sporadic availability.
While discounts can be lucrative in attracting members, it's crucial to note that they impact financial workflows, reducing the revenue share for all parties involved - you, billing, ModelCentro, and any affiliates. For instance, a 50% discount on a $100 join option alters the financial distribution as follows: Billing receives $5 (originally $10), you get $33.75 (instead of $67.50), etc.
You can also craft the perception of a discount without reducing your desired price point; e.g., creating a $120 option with a 20% discount, maintaining a $100 option effectively.
To implement a discount:
Navigate to Model Admin -> My Site -> Prices & discounts.
Enable the discount via the Join Option’s discount checkboxes.
Upon activation, you'll configure the Discount details:
Choose between Temporary (with date range) or Permanent discounts.
Add Date Range
Specify a percentage for the discount.
Decide whether the discount applies to re-bills.
Note the final price (can’t be lower than $2 due to minimal transaction restrictions).
Add a discount text for visibility (e.g., 'Black Friday Special!').
Once configured, apply your discount, knowing you can disable it anytime with a single click.