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 product videos on behalf of one of my consulting clients. The client was frustrated from high refund rates. From across the room, my 17-year-old son offered, “The only reason that all of their customers don’t ask for a refund is become some percentage of them never use the product. Because anyone who watched those videos would certainly ask for a refund. They are that bad.” While harsh, he was probably right.
Your product is probably not that bad. Although, my client didn’t realize he was that bad until I gave him a set of criteria by which to evaluate what he was delivering to his members and asked him to review it. He hadn’t looked at the product videos in more than five years. While that was obvious to his customers, he had been so focused on selling his product that he hadn’t gone back to review it in many years.
When your new member joins, he’s excited about the transformation he’s going to experience from your program. He’s ready to engage, and then your product is delivered. Does it pick up where your sales message left off, or does your product delivery kill excitement?
You have limited time and opportunity to keep your customer. He’s been disappointed so many times before, the second he thinks you are the next in a long list of disappointments, he’s going to cut his losses and quit, often asking for a refund on his way out.
If you’ve been working for a few years to hit some recurring revenue goals and you aren’t able to hit them, your problem may not be a lack of good marketing. More likely it’s a lack of quality execution. The fastest way to grow your recurring revenue is to stop your members from quitting, to grow your recurring charges, and to engage your members into your vibrant tribe of followers.
If you aren’t reaching your revenue goals, I may be able to help. It all starts with a call. On our call, I’ll get more information from you, and if I can help you, I’ll outline a plan to hit your revenue goals as soon as possible this year. Then you can sit back and enjoy your year with the confidence that your business is growing because your members are growing. It all starts with a call, and there isn’t even a charge to get started. All you need to do is visit www.RobertSkrob.com/membership to start hitting and exceeding your monthly recurring revenue goals.
About Robert Skrob
