Did you wake up this morning hoping for a webinar? You’ve gone all week without one. Perhaps your spouse used to give you webinars, but no longer. Then there was that one vendor who always offered webinars, but they don’t even do it anymore. Disappointing? No, you didn’t wake up hoping for a webinar. And neither did your members. And … Continued
It’s Easy to Make Your Membership Complicated. Simplification Is Difficult and Important
Pointless. I was writing, printing, and mailing a 24-page full-color newsletter for 36 people. That’s all that signed up. It was so humiliating to write and preparing a newsletter for only 36 members. Expensive too — although each member paid $199.00 monthly, total dues collected was not enough to cover my production and fulfillment costs with so few members. Membership … Continued
Amazon Prime vs. Costco Membership: Which Has Higher Retention, and What Does it Mean for You?
Amazon Prime now has more members than Costco and higher retention. But which company is the best for you to emulate? Amazon’s CEO Jeff Bezos reported that Amazon Prime membership exceeded 100 million members. At $99.00 annually, this has turned into a huge profit center. But there’s more. Prime members spend more than four times more than non-Prime customers with … Continued
Member Retention Secret for Getting More Lifers and Becoming the Membership That Doesn’t Get Canceled
“I can’t even get my member to return my call.” I’ve heard it a million times. This person has been a member for months, but now they’re getting canceled because their monthly charge didn’t go through. The team emails, calls, and even sends a letter … no response. In the beginning, there were just a few of these, but now, … Continued
In A Divided World, Those Who Unite Their Supporters Win
Your subscribers have several monthly charges on their credit card. How do you make your subscription a “must have” to avoid being canceled? When your member examines her credit card statement with the idea of cutting back on her monthly expenses, how can you avoid being one of the many services that’ll get canceled? She’s likely got cellphone, Netflix, Hulu, … Continued
Subscription Revenue Is a Poor Substitute for a Viable Business Plan
I had a tough conversation with a client this week. For the last 10 years, he’s been trying to grow his subscription business with a 30-day free trial. He’s been happy taking profit out of the business but has hit a plateau over the last few years. He gave his internet marketing team a budget of $100.00 per free trial … Continued
What I Learned as an Amway Distributor That Will Help You Grow Your Recurring Subscription Membership Revenue
While Florida State University awarded me a master’s degree in accounting, I earned a “doctorate degree in life” as an Amway distributor for three years. One key lesson I learned as an Amway distributor makes all the difference between success and failure in the subscriptions business. While I was shopping in Dillard’s about a month after graduation from FSU, some … Continued
Traveling the World to Fight Subscriber Churn
Every time one of your members quits, a piece of me dies. It is a relationship lost. A promise broken. Opportunity unfulfilled. It’s my mission to help you never let it happen again. I take it personally when one of your members quits. Can we ever make it stop completely? No. And, honestly, we want some churn. We need to … Continued
The Retention Point Accelerators that Grow Your Member Lifetime Value
These strategies form the key distinctions between people who are what I call “Membership Marketers” and those who are “Member Leaders.” Membership Marketers focus only on the hunt, acquiring new members. Member Leaders are as concerned with keeping the members they have as they are with getting new ones. Member Leaders implement systems to get their members to the Retention … Continued
The Answers to These 11 Questions Can Explode Your Recurring Revenue Growth
It’s rare that an interview host does his homework, reads the book, and writes insightful questions. That’s why I was so pleased when Mark Hirsch, host of Growth Harmony’s Brain Trust Mastermind. came prepared with interview questions about my new book, Retention Point. In fact, the questions were so good that I decided to share Mark’s questions along with my … Continued