To add a Pricing Plan to your video channel, the elementary way is to go to your own video library and click the channel tab on the left - which you want to present as a subscription. Click Edit next to Channel info & scroll down to Channel Subscriptions and enable.
Next, go to the Pricing Plans tab & click Create Plan. In the Plan Info section, fill up Plan Name and you have the option to fill in a tag line. It is best then to list all the benefits. Note: These benefits will be highlighted. As you are paying for WIX video you can let your viewers stream free videos. All you need to do is to set them up for free streaming. Now we come to WIX video Selling & Renting Options.
Define your business goals after carrying out a thorough market pricing analysis and identifying your audience. Then create a competitive pricing panorama and pricing strategy with an execution plan.
a) The number of videos that can be loaded on Wix?
b) The size of a video file should not exceed 15GB. Note: All videos are automatically coded into MPEG4 – H. 264 codec. Crafting the correct pricing strategy begins with a pricing plan. Advantages of being on Wix: Great for attracting memberships, a highly versatile (simple and quick) builder of websites, without any knowledge of coding.
Pricing plans can be sold on Wix by activating the same, from your site’s dashboard. A payments status form is also provided & Purchases may be directly completed. Manually adding Clients to a pricing plan. Wix charges a Processing Fee of 2.9% plus USD 0.03. Wix Payments 2021 The Wix website builder has many modern templates that are highly customizable.
Selling your videos from your video library, select video – select paid or to be purchased. Enter the price and save.
You may upload videos up to 30 minutes of content at no cost and from other social platforms unlimited content. A large video can be uploaded too?
Strategies to adopt to attract customers and the pricing conundrum:
· Be aware of price skimming which means high prices fall as competitors enter the worldwide market.
· Premium and
· Economy or value pricing
· And bundle pricing?
On the one hand, pricing strategies must attract customers on the other hand what pricing strategies, to adopt?
Elaborating on Pricing Strategies:
@ Objectives to be clearly defined
@ Estimating the evaluating/assessing of the price in the target market
@ Competitors prices need to be evaluated
@ A basis for pricing to be thought out
@ A pricing strategy is to be planned
@ Arrive at a specific price
Pricing management is the next important aspect: As there is a need to create a regular income stream, one could consider offering a product only as a subscription.
Customers thus have a choice to purchase directly or go in for the subscription option.
Obvious thoughts that come to mind are, is it possible to sell product subscriptions on the Wix platform? Is a Free Membership drive area available on the Wix web design? Yes, provided processing of payments is not required. Selling courses, bookings and subscriptions and even recurring payments can be handled for Free.
A membership site can be readily be set up on Wix. Membership management is available too.
Wix Video storage and bandwidth is free up to 500MB. Over 500MB IE 1GB onwards both are chargeable. Max file size is restricted to 500MB. Note: Online payments are not included, while customer service is available.
Wix’s pricing begins at USD14 per month billed annually for the combo plan which includes hosting with a domain name and is also ads free. An unlimited plan at USD18 per month good for larger sites, plus a Wix VIP at USD39 pm adds priority support to your entitlements.
For a Wix payment business account, you are required to have an EIN IE Registration ID for your own country. Your Bank Account must so too be under your company’s name. Wix e-commerce permits beginners to operate an online store directly. Wix does not charge commission. Once your Wix payment account has become operational payouts are received within 7 days.