The $651,958.00 Email Series

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series of emails generating $651,958.00

Can you imagine a series of emails generating $651,958.00? It’s hard to believe, isn’t it? This is the power of retention. And if it’ll work this well with this example, it’ll work for you too. Bradford Tax Institute delivers tax-saving strategies to members of the Tax Reduction Letter. How much do you enjoy working on your taxes? Exactly! This is a tough sell because most people 1) hate thinking about their taxes and 2) are paying someone else to take care of this so they never have to worry about it. Why would anyone ever subscribe to the Tax Reduction Letter? Murray Bradford’s information is different from anything else out there. All other tax-information services explain the law and how to comply with it. Murray Bradford delivers strategies for using the law to pay less in taxes. Murray’s strategies are so unique that few professional tax preparers know about them. … Continued

Lessons Learned from an Email Series that Generated $651,958.00

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Email Series that Generated $651,958.00

I’m coming to you this month from seat 6E in the first-class cabin of flight AA1229 from San Diego to Dallas where I’ll catch a flight home to Tallahassee. I’ve been traveling a lot this summer. There’s a lot of Retention Deficit Disorder out there, and I’m the guy subscription membership programs call to treat it.. We’ve had a tumultuous October with Hurricane Michael. Overall we were extremely lucky. We did spend several days without electricity or internet. Lots of trees fell in Tallahassee, luckily none of them hit my house or cars. The days without electricity gave us an opportunity to clean up. This month, I have some personal travel. First, my wife and I are flying to Raleigh, North Carolina, for the FSU Seminoles versus NC State Wolfpack football game. My wife, Kory, graduated from NC State, so we’ll be catching up with a lot of her college … Continued

Lots and Lots of Value May Retain Members, But It’s Not a Business Plan

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Value May Retain Members, But It’s Not a Business Plan

It didn’t take long for the Movie Pass bubble to bust. It offered unlimited movies for $9.95 a month. Movie Pass paid theaters full-price admissions for the tickets, and Movie Pass members took full advantage. Now Movie Pass is out of cash and dying. They attracted the wrong crowd of members. They attracted takers — those who love taking advantage and who had nothing better to do than spend a Thursday in the theater watching every movie at the multiplex, then come back on Friday and watch them again with friends. At $9.95 a month for unlimited movies, there was no reason to spend the summer anywhere other than the theater. For a while, it looked like the Move Pass strategy was working. Movie Pass subscription numbers exploded past 2 million members. Movie Pass was compared to Spotify and Netflix. And retention was great. Until the company ran out of … Continued

Retention Deficit Disorder and How to Cure It

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Are your membership numbers growing to meet your goals?

Does your membership attract as many new members as it should? Do you retain at least 70% of your new members for more than six months? Are your membership numbers growing to meet your goals? You are suffering from Retention Deficit Disorder. I’ll explain the treatment in detail, but first let me tell you how I came to discover this disease and the treatment. In 2000, I earned Chairman’s Preferred Status on U.S. Airways. I flew more than 100 flight segments that year. At the time, my daughter, Samantha, was 5 years old and my son, Robert William, was 1. I was out of town as much as I was home. I knew I had to do make a change. I resolved to travel less. And in 2002, I earned no status with an airline. When I got that letter telling me I was no longer preferred … wow. I … Continued

Changing Your Member’s Mental Picture of Your Membership

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Checnging a mental image for your members

Wow, that cartoon. What happens from the first image to the second? Does the guy get killed? Can you see the ax swing in your mind’s eye? Where does the ax hit? In this illustration, you did the killing, not the cartoonist. In your mind, you moved the ax. And, everyone I’ve shown this to has told me a different place the ax hit. While I see the ax come down in the victim’s back, some told me he chopped his head off, while others told me the ax came down in the head somewhere. This same phenomenon happens with all communication. This illustration comes from the classic book, Understanding Comics, by Scott McCloud. Scott gives you a history of comics and an explanation of the art, but more importantly, he’s explaining how communication works. Buy a copy, Scott wrote it using cartoons throughout. It’s brilliant. You may use words … Continued

Amazon Prime vs. Costco Membership: Which Has Higher Retention, and What Does it Mean for You?

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Amazon Prime vs. Costco Membership: Which Has Higher Membership Retention

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 Amazon each year. Meanwhile, you can’t shop at Costco without a membership, which start at $55.00 annually. As of its fiscal 2017 annual report, Costco boasted 90 million members. That’s 10 million fewer members than Amazon. This means Amazon now outpaces Costco by a factor exceeding the population of 43 U.S. states! But that’s not all. Amazon Prime’s member renewal rate is estimated to exceed 90 percent, while Costco, recognized for its longtime customer loyalty, has a retention rate in the upper 80s. Amazon has the reputation of having the … Continued

The Answers to These 11 Questions Can Explode Your Recurring Revenue Growth

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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 answers for you here. Introduction Today, it is my pleasure to welcome our special guest, Robert Skrob. Robert is widely recognized as one of the world’s top member retention specialists. He started out in nonprofits and has helped for-profit companies in hundreds of niches transform customer relationships from “one-night stands” to long-term relationships. 1. Tell us a little more about yourself. What’s your background, and how did you become experienced in membership marketing? I’ve been creating and growing membership programs for more than 25 years. I launched a program in … Continued

Illustrated: How to Make Your Member the Hero of His Own Story

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Make Your Member the Hero of His Own Story

Have you ever been disappointed when the secret behind a magic trick was revealed to you? At first you were amazed when the trick was performed. It’s amazing to see a skilled magician executing a trick so perfectly you can’t imagine how he did it, except by some form of magic. For instance, I always thought the David Blaine levitation trick was just amazing. He just lifted up off the ground. But, from a different angle you could see he’s just lifting his body with the front of one foot while keeping his heels together. From the back you can’t see that foot and the trick looks amazing. And, as long as you don’t know the trick, it does look amazing. And, when used with skill, it makes the performer look, well, magical. There’re a lot of these tricks in marketing. There are tricks that get stated so many times … Continued

Your Membership Renewal Results Depend on a Lot More Than Your Renewal Notice

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Your Membership Renewal Results

When you are ready for a good cry, do a YouTube search for “marriage proposal.” There are thousands of amazing videos with gentlemen (and ladies) making marriage proposals. If it doesn’t make you emotional, nothing will. It’s impressive how many different ways there are to propose. Skywriting is so passe. There’s the surprise proposal at a sporting event, the boyfriend as a hospital patient turned proposal, fancy custom written songs, jumping out of airplanes, and I even saw a proposal in a duck blind. While the proposals can be impressive, the answer delivered in response to the proposal is always based more on the relationship leading up to the proposal than it is on the proposal itself. Sure, it’s good to make it nice. But in reality, if the relationship isn’t there, the answer will be “no.” And, trying to deliver an elaborate proposal when there’s not a good relationship … Continued

How to Compete and Win Against the Biggest Publishers in the World

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What if you had to compete against the Wall Street Journal, Investors Daily, Financial Times, Barron’s, MSNBC, Yahoo Finance and thousands of other paid and free resources. Dan Fink, managing director of Money-Media, offers innovative solutions and lessons learned from his years of competing against some of the biggest publishers in the world, and winning. “It’s really about having a 365-day mentality that if you’re going to try and renew these people a year later, your job starts in day one to make sure that they have a good experience all year long. And then the pressure’s off when renewal time comes.