The Fastest Way to Grow Monthly Recurring Revenue

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I knew it all when I was 28 years old. What’s better, I could do it all as well. But before my 31st birthday, I was completely burned out.  Although I earned a master’s degree in accounting with an emphasis in taxation from Florida State University, and passed the CPA exam to become a CPA, I only practiced as an accountant for three months. Then I took a job as a bookkeeper for a company that consulted with associations. Within six years, I bought that company. When I purchased what became Membership Services, Inc., we had 20 association clients. This was in 1999 when AskJeeves.com and Yahoo.com started to become popular, and Google was on the horizon. Up until these search engines came out, if you wanted to know something about your profession, or any industry, you contacted the association. These tools diverted all of those questions away from associations. … Continued

Your Member Has 34 Reasons to Quit Your Membership — What are You Doing Today to Stop Them?

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Your subscriber member has a new reason to quit every day. Even if you send an email each day, your member may only read that message for 10 minutes. This means you have 10 minutes each day to stop your member from quitting. Your member has 23 hours and 50 minutes each day to find a reason to quit. Every charge on the credit card statement is a reason to quit. Every recurring invoice via email, another reminder to quit. And every time another offer comes along that may be more interesting, it’s yet another opportunity to quit your subscription. A member could quit without it having anything to do with the quality of your product or service. And yet, it could be that your product is poor and systematically encouraging members to quit. One Sunday afternoon, while watching NFL Red Zone on TV with my son, I was reviewing … Continued

Your Prospective Member Doesn’t Want Your Shit: THIS Is What He Does Want

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In the last five weeks, I’ve been blessed with the opportunity to review more than 27 membership and subscription offers for my clients. These have been for financial publishers, business opportunities, subscription boxes, monthly newsletters, magazines, SAAS, and even one political organization. The consistent problem I’ve had to explain 27 times now is that there’s no transformation. No one is wandering around the internet hoping to find 8 hours of online video courses to buy and watch. You’d have to pull up the YouTube app up on more than a thousand tablets and watch all of them simultaneously, 24 hours a day for 500 years to watch the videos that are already on YouTube. Plus you’d have to add about 60 tablets with videos running to keep up with the videos that get added each day. And this is just on YouTube. It would take me four months to read … Continued

Stopping Your Members from Quitting and Growing Monthly Recurring Revenue as Quickly and Efficiently as Possible

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The whole time my wife and I were training for the Boston Marathon this April, we committed to diversifying our workouts. Our goal was to enjoy running Boston, then begin training for a triathlon. At the time, this sounded really prudent. Rather than running 40–50 miles a week in marathon training, we’d swim a few days a week and also ride our bikes. As in most new ventures where you don’t have much experience, this was naive. We started our triathlon experiment by registering for a race. Nothing like setting a deadline. The only problem? I didn’t know how to swim. I’ve been in the water all my life, but not freestyle swimming where you breath between strokes. I’d always hacked my way through. And I never swam for 400 meters at one time. With the triathlon quickly approaching, I jumped in the pool and started swimming, badly. I couldn’t … Continued