We Need Your Ideas: Help Rename the BiggerPockets PRO / PRO Basic Accounts

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We Need Your Ideas: Help Rename the BiggerPockets PRO / PRO Basic Accounts

Joshua D.Pro Member
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes

Hey guys --

It seems that some people are having trouble making a distinction between our PRO and PRO Basic accounts, and I believe that if we make a more clear distinction between the names, we can clarify any confusion.

Right now, if we talk about benefits of PRO, our PRO Basic users think we're talking about them -- even when we're not. I get it -- it can be confusing.

With that in mind, we're planning on renaming our PRO Basic account and would love your feedback for name ideas.

Let us know if you've got any suggestions!

Thanks as always, guys.

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Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
12y

Let's see, the average age here is probably younger than half my age, at a discount rate of 10%, at current mortality rates the Pro account, as the present value, would be about $1,495.50, losing $478.92 as an average in present dollars to inflation over time, so Josh could consider a poultry sum $1,974.42, say $2,000.00 for the Super Duper Golden Advanced Pro Life Time Membership to start with. Now, if about 10% sign up, in year one, that gives Josh $2,000,000.00 up front.

But then, if Josh had 2 million over his current earnings, he'd be on some beach somewhere sipping rum with little umbrellas, the site would suffer and 1,000 people would be ticked off and ratings would drop.

So, my vote is to make him suffer and stick around to earn his money like me.

Holly, missed opportunity BP Man, I don't get paid here! :)

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  • Joshua D.Pro Member
    OP
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    @Jon Klaus - It is an interesting thought, but I'm with @Jerry K. on this one (BTW - I was in the Groundlings training back in the day, Jerry).

    Thanks for all the suggestions so far, everyone. We'll soon start putting the list together and will evaluate all your ideas.

    Keep them coming!

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  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    How about Free, Plus, and Pro ?

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    1Reply
  • Michael Seeker
    Investor · Louisville, KY · Member since 2011 · 1k+ posts · 1k+ votes
    12y

    My vote is to eliminate pro basic...just have Basic and Premium. Maybe lower the Pro price point a bit and scoop up all of the people that have pro basic at a slightly higher price point.

    I'd be curious to see how many people actually have free vs pro basic vs pro - that could certainly help with the discussion.

    I've been debating whether to get a pro/pro basic account, and it turns into a shopping trip...what is the value of Pro vs Pro Basic...if you just put all of the add-ons into one group and price it accordingly I think it would entice more people to sign up for the one with the extra benefits.

    Up until the recent zip code addition, I didn't really see any benefit to the Pro over Pro basic.

    0Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    12y

    I agree with Jerry on lifetime memberships.

    I have one with another service. The owner eventually sold off to a buyer who wanted to do something different with the platform. I still have all of my benefits for life with my database, websites, and contact management system.

    With a one time payment yes it does generate larger cash short term but then drops off a cliff later on unless you can sustain a volume of new lifetime members which many cannot afford the fee all at once. Most payment plans are monthly as people can absorb it in small bites as income flows in.

    A business is constantly evolving and needs changes and improvements to give value to it's members. For that money is constantly put into research and development. If a business isn't growing and prospering then it's retracting and dying. With the lifetime memberships the business has to keep selling new items to get more money coming in and the model doesn't work long term.

    A company has monthly expenses so needs monthly cash flow coming in. To many thinking about the FEAR of spending on a pro account and not getting back a return you just have to go for it. At the end of it all I would rather know I went for it all and tried no matter the outcome then to have wondered "what if". One thing is given in life in that if you don't try 100% you won't make it but if you do try at least there is a chance of success. The key when you make the leap is to be as informed as possible to increase a positive outcome.

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  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    12y

    I got it.

    Account re-classifications

    Pro converts to A Dorkin Membership

    Pro Basic converts to a Turner Membership

    Free users converts to an Intern Membership.

    0Reply
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    There are always the ability to take monthly or annual payments on a membership. Annual renewals get a slight discount.

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  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Let's see, the average age here is probably younger than half my age, at a discount rate of 10%, at current mortality rates the Pro account, as the present value, would be about $1,495.50, losing $478.92 as an average in present dollars to inflation over time, so Josh could consider a poultry sum $1,974.42, say $2,000.00 for the Super Duper Golden Advanced Pro Life Time Membership to start with. Now, if about 10% sign up, in year one, that gives Josh $2,000,000.00 up front.

    But then, if Josh had 2 million over his current earnings, he'd be on some beach somewhere sipping rum with little umbrellas, the site would suffer and 1,000 people would be ticked off and ratings would drop.

    So, my vote is to make him suffer and stick around to earn his money like me.

    Holly, missed opportunity BP Man, I don't get paid here! :)

    3Reply
  • Joshua D.Pro Member
    OP
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    Well put, @Bill Gulley -- thanks for keeping me off the beach . . . ugh.

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  • Jerry K.
    Specialist · Phoenix, AZ · Member since 2011 · 698 posts · 629 votes
    12y
    Originally posted by Bill Gulley:
    Josh could consider a poultry sum $1,974.42, say $2,000.00 for the Super Duper Golden Advanced Pro Life Time Membership to start with.

    Poultry sum of $2,000 you say? That ain't no chicken feathers!

    Sorry, couldn't resist. :) I'll crawl back into my cave now.

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    That's chicken feed. Ah horsefeathers, now I'm trying to figure out how to get paid by the answer, dangnabit!

    Josh, just trying to look out for both our best interests, after all, if BP went away, where would I go, what would I do, how could I make a living? I'm addicted! :)

    2Reply
  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    12y
    Originally posted by Jerry K.:
    A one time payment for life is not sustainable for the business. Yes it brings in cash right up front, but after that cash is depleted, there is no money for future upgrades.

    Unless you take the membership money and invest in properties that meet the 2%-3% rule, buy notes, buy tax liens, do hard money loans, invest in fix and flip properties, etc. That would produce huge dividends for years to come.

    Sorry, I couldn't resist.

    1Reply
  • Joshua D.Pro Member
    OP
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    @Bill Gulley - Yeah -- we've got your back!

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  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    12y

    @Joshua D.

    why not put it to a vote? Take the best four suggestions (your pick) and let everyone vote? They could vote on the name for each class. I see a lot of good ideas here!

    0Reply
  • Bill B.Pro Member
    Camarillo, CA · Member since 2013 · 217 posts · 86 votes
    12y

    I know that there are many BP members from outside the United States. So, to make the different levels the most universally recognized, I'd suggest using Bronze, Silver and Gold. The Olympics have done the heavy lifting, and BP can capitalize on that universal standard.

    0Reply
  • Jarl M.
    Landlord · San Francisco / Santa Cruz, CA · Member since 2010 · 13 posts · 4 votes
    12y
    Originally posted by Brandon Turner:
    How about Free, Plus, and Pro ?

    It's simple and lets alone the other subscription levels that are aren't being changed. Though they're keeping the same site features, by title demoting those who paid for "Pro Basic" you may have to answer why they're no longer "Pro" members. So I'd recommend having an incentive to offer them to upgrade to the real pro account so they don't feel left out.

    You could avoid this by leaving them as pro and upgrading the 3rd tier to "Mogul" or something else of a ridiculous higher level. Personally, I think Pro is applicable for a 3rd tier subscritpion as in order to make the investment of a higher BP subscription, you're likely treating yourself from making money on a previous deal.

    0Reply
  • Steven J.
    Urbana, IL · Member since 2012 · 1k+ posts · 425 votes
    12y

    Go with corporate entities:

    Free = LLC - you're better off than the average man for joining this site. You're education will grow and you'll provide some safety and security, what more can you do?

    Pro basic = 1031 Exchange - you're moving up in the world. Its time to upgrade to the next bigger and better and see the investment payoff more.

    Pro - Corp - you're playing with the players now.

    0Reply
  • Silvestre M.
    Investor · Inland Empire, CA · Member since 2013 · 41 posts · 8 votes
    12y

    Amateur (free)

    Pro ($15)

    Guru ($10,000) ..must be auto debit from 401k or savings to qualify.

    1Reply
  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    12y

    I'd vote for Basic, Plus, and Premium. I don't like the term Pro for the reason Michael Q. given above.

    When I first joined the site, I saw people with the "Pro" label, and I thought they knew a lot about real estate. It turned out some of them were so green.

    Just my 2 cents.

    0Reply
  • Michael Wentzel
    Investor · Colorado Springs, CO · Member since 2013 · 643 posts · 280 votes
    12y

    I vote for...

    free

    basic

    pro

    Unless you're willing to do away with the two tiers and just have basic (free) and pro. That would be my vote if we can think outside of the box.

    Mike

    0Reply
  • Andy Bankston
    Investor · Kennesaw, GA · Member since 2010 · 158 posts · 61 votes
    12y

    I don't like the terms free or basic. How about:

    Standard Account
    Deluxe Account
    Premium Account

    0Reply
  • Graham MinkPro Member
    Rental Property Investor · Stowe, VT · Member since 2013 · 102 posts · 27 votes
    12y
    I second (or third or fourth) the suggestion to drop the middle tier altogether. If you go with a free and premium tier you simplify things and make more money. Having the cheaper paid option I feel costs you $100 every time someone signs up. If someone is willing to pay they are going to pay, otherwise they won't. Giving a monthly option and a discount for a year membership allows someone on the fence to try it out without spending $150. If it were me I would do a minimum 3 month paid subscription for $50 and keep your year pricing around $150. Just my .02
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  • David Lee
    Wholesaler · Lenoir, NC · Member since 2013 · 297 posts · 127 votes
    12y

    How about

    Big pockets member

    bigger pockets member

    Biggest po ckets membr

    1Reply
  • Joshua D.Pro Member
    OP
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    12y

    Thanks everyone . . . we're going to move ahead with a change to BiggerPockets Plus.

    Coming next week . . .

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