How to not take the incorrect capitalist route as a small business owner

TLDR:

• Provide value-based pricing tailor-fit for customer preferences
• Offer a Freemium model that let customers trial your product before purchasing
• Implement subscription models with stacked add-ons without a substantial price change
• Non-intrusive ad monetization to keep the user experience smooth
• Affiliate marketing that align with your customers’ interests

Recently, the owner of X (formerly known as Twitter) Elon Musk has proposed a monthly subscription to use the platform [in a bid to “combat the bots”.](https://www.usatoday.com/story/tech/news/2023/09/19/twitter-x-monthly-fee-elon-musk/70899164007/#:~:text=X already charges users who,month for each additional affiliate.) Amazon Prime Video is expected to [charge an additional $2.99 monthly fee](https://apnews.com/article/amazon-prime-advertising-streaming-tiers-e3713ac21acc14b8ba8381fa7ab447e5#:~:text=Amazon Prime Video will soon come with ads%2C or a,monthly charge to dodge them&text=Amazon Prime Video will include,added different tiers of subscriptions.) for ad-free streaming on top of their $7.99 monthly subscription.

Though both companies have established more than enough authority in their respective niches to stay well afloat in spite of such a decision, you can expect many people to migrate to rival platforms, and you may be one of them.

And if you are one of them and happen to be a small business owner, just imagine what’d happen if you tried to monetize the incorrect way.

You’d be bankrupt.

The odds are very high that even if you have established enough authority in the domain of your respective niche, it’d pale in comparison to the likes of X and Amazon.

But naturally, you’d want to cash in any authority you’ve managed to create, but how can you do it without losing customers?

1. Value-Based Pricing

The concept of value-based pricing involves setting prices for your products or services based on the perceived value it provide to customers.