Imagine having double or even triple the number of members in your program. What would that mean to your business? Your income? Your future growth opportunities?
This (and more) is entirely possible when you Stop Your Members from Quitting.
I have a new client who has 689 members with an 11 percent churn rate. With 11 percent of his members dropping out each month, he will need to sign up 1,589 new members to double his membership in a year. This means he will need to sell, welcome, fulfill and handle all the administrative work for 2,067 members to end the year with just 1,378 members.
By lowering his monthly churn rate to a more reasonable 5 percent, he’ll need to recruit only 1,102 new members. If his cost of recruiting each new member is $100.00, this is a savings of $48,700.00.
This is huge for him because he gets most of his members from speaking engagements. There are usually 50 prospects at each event, and he signs up an average of 40 per city. At his current churn rate, he’ll have to do 35 speaking engagements to double his membership. At a 5 percent churn rate, he’ll need only 28 engagements. This is seven fewer trips, hotel rooms, meeting rooms and all the associated expenses. And if he has the desire to do all 35 events, it just means he’ll more than double his membership and hold on to those members a lot longer when he decreases his churn rate.
Stop Your Members from Quitting is easier than you’d expect. All it takes is a better understanding of what members really want and not overwhelming them with content.
Prepare to double or triple your membership by enrolling in a Live Cast Workshop I’m hosting, Stop Your Members from Quitting.
As church marketing expert Larry Osborne often says of churches, “There’s no reason to open the front door until you close the back door.” If it’s time for you and your team to close the back door and grow your membership program, register for Stop Your Members from Quitting here.