Ask What are the benefits of offering a pay-what-you-want membership model?

[SuperAffiliateX]

I'm considering a new membership model for my site. I've heard about pay-what-you-want options, but I don't know much about them. This model seems unconventional, yet some businesses use it successfully. It might encourage more people to join by removing financial barriers. It could also build trust with potential members if done right. Some platforms report increased customer loyalty from this approach. What are the benefits of offering a pay-what-you-want membership model?