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ResourcesPricing is a science in itself, and too much to cover in a single guide. Nevertheless, we’ve had some insights into how good pricing looks like, or at least how you can get to a pricing scheme that’ll work for you.
If you’re just starting out on MentorCruise, you can set up one pricing plan (commonly called the “Standard” plan). As you collect more experience, you’ll be able to add a cheaper “Lite” and a more expensive “Pro” plan to your lineup.
Stick to strong defaults
When you're just starting out, it's tempting to undervalue your time or overprice to test the market.
Instead, rely on the platform's recommended pricing based on your experience level and industry.
MentorCruise provides suggested rates that reflect what mentees are willing to pay and what successful mentors charge. These defaults are calibrated from thousands of mentorships and give you a solid starting point. You can always adjust later as you gain reviews and understand your value proposition better.
Analyze your peers
Before setting your final price, spend time researching what other mentors in your field are charging.
To do so, you can use the “similar mentors” section in your analytics to find mentors with similar experience levels, specializations, and service offerings.
Pay attention to their session structures, response times, and what's included in their packages. This competitive analysis helps you position yourself appropriately. Not too high to scare away mentees, not too low to devalue your expertise.
Remember that pricing too low can actually signal lack of experience or quality.
Be specific about what you deliver
Vague promises lead to mismatched expectations and disappointed mentees. Clearly outline what mentees get for their money: number of sessions per month, session duration, response time for messages, whether you provide resources or assignments, and any review or feedback you'll offer.
If you offer different tiers, make the distinctions crystal clear.
Add unique goodies
Differentiate yourself by including extras that leverage your unique position or skills.
This could be access to your network, introductions to hiring managers, resume reviews, portfolio critiques, or custom resources you've developed.
These goodies don't need to cost you much time but can significantly increase perceived value. Consider what you wish you had when you were at your mentee's stage, or what assets you have that others don't. Just make sure any goodies you promise are sustainable – you don't want to burn out delivering extras to 10+ mentees.
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- Stick to strong defaults
- Analyze your peers
- Be specific about what you deliver
- Add unique goodies