2008 Member fee for 2009 Subscription?

[ashishkumarpatel]

David.
I am an existing (2008) premium member of bionic turtle.
I am wondering when will my premium membership for 2008 expire and
What will be the price for me to renew my membership for 2009 ( I couldnt pass FRM in my first attempt).

Thanks
AP

 

[David Harper CFA FRM]

Hi Ashish,

The 2008 membership will expire soon (when the new site relaunches).

I will be candid about pricing here because I would like feedback (and i have been debating it with my advisors).
The possible plan is to maintain last year's pricing:
$299 for signup before May 1st approximately or if you were a prior customer; $399 after (i.e., the regular price).
In other words, $100 discount for buying early, but no discount for prior customers.

The alternative is the same as above, but +$50; i.e.,
$349 for early purchase or prior customers; $449 for regular.

I would like you feedback, if you have any.
To be really honest, I personally want to maintain but I am getting pressure to increase by $50

Their argument:
* Still a great value; less than competitors
* Need to hire help to achieve some of the improvement f/back given last year

My argument:
* The economy sucks
* Price increases encourage piracy. And the piracy is getting easier and easier (P2P). Morally, I don't care about pirates; people who take my content without paying are pond scum, they should go to jail (and I will always help authorities identify pirates) and I will never bow to them. The principle is very important important to me. But from an objective business standpoint, piracy is a HUGE REALITY for me. Put another way, if everybody who used the product last year had paid, and we knew everybody this year would pay, there would be no argument with my advisors; i.e., we would be sufficiently profitable to invest in growth initiatives. My advisors want me to install more security, but I resist: it is always a hassle and why should I inconvenience honest paying customers, who are dear to me, for the sake of dishonest people?

Sorry if that is more than you wanted to know. When the new site (soon) uploads, you'll see that returning customers can buy at either $299 or $349. But I shared the above because I would love feedback! Thanks, David

 

[ashishkumarpatel]

David.
There are few points if it helps you make decision in favor of keeping current prices or motivate you to offer little discount to last year's premium member.
1) Returning previous year members spent more than 1000 dollars last year on FRM.. ( Exam fees + core readings + tutorial + annual membership+ travelling to the exam center+ uncounted Starbucks coffees (kidding about coffee part)).
So you might want to be more thoughtful to those people who failed and still like to be premiume member this year as well.

2) Most of your customers/users belongs to Financial industry which is in really bad shape. So increasing prices will not be great idea considering state of the economy.

David, there is no doubt about the quality of your content and the service you provide is world class. Again you are the boss. We will find out soon about pricing anyway..right ? Thanks for your service and making concepts easier for rest of us...Had fun last year following your tutorials.