get-it-done masterclass: how to build a membership site that sells

Get-It-Done Masterclass

How to Build a Membership Site that Sells



Why are subscription products so valuable?



Reoccurring Revenue



Reoccurring RevenuePredictable Cash Flow




More Valuable Company




More Valuable CompanyQuick to build and implement





Evergreen





EvergreenContent has good strategic uses





EvergreenContent has good strategic uses

Makes you the sole provider customers return to


What are the downsides to subscription products?



People often under-estimate the work load



People often under-estimate the work loadNeed attention and content to flourish




Can have high churn rate




Can have high churn rateCan have high Customer Acquisition Cost




Can have high churn rateCan have high Customer Acquisition CostNeed a solid back end to be profitable


What is the goal of ANY business?


What is the goal of ANY business?

To acquire and keep profitable customers


When customers subscribe they want to get their money’s worth-

if you keep providing the quality content that hooked them in they’ll keep coming back


What subscription businesses are you a member of?

Why ?


Examples…

Amazon PrimeNetflix

Infusionsoft

Success ClubDigital Marketers Lab

etc


Millennials buying habits are more geared towards subscription models

Tech and social media savvy - dislike hype and like authenticity


Subscription businesses and membership sites rely on

RELATIONSHIP more then ever before


Even if selling information think of it as a

SERVICE


Information Marketing

People need information presented more easily and conveniently They need short-cuts, solutions, emergency fixes etc Provides the consultant with authority and credibility

Little to no inventory needed - big profit! Little to no staff (although they can be useful) Can be added onto nearly any business model


What information do you have that would sell?

Does it feed an existing demand? Can you demonstrate expertise?

Is the information either difficult/ bothersome to find or can you present it in a better way?

“Every Business has a secret wealth”- Jay Abraham


Who does your information serve?

Large Communities (weight loss, personal development, managers, business owners etc)

Small sub group (gluten free weight loss plan, teen self esteem, unassertive managers, Christian Business Owners etc)

Who is your customer avatar?

What keeps them awake at 3am?What are they angry/ frustrated or afraid of?


Checklist:

Do you know, like and understand the target market? Is there a large market for it?

Is it in a market that is trending well for future growth? Can you identify and reach potential customers?

Is there passion and hunger in the market? What is their buying behaviour?

What advantage/ innovation can you bring to the market?


Methods of Market Research:

Google Keyword Tool Wordtracker.com Amazon.co.uk

Magazines

Online Forums Blogs

Speaking to people in the market either vendors or customers

etc


Questions:

“What do you know that no one else does?”

“What competitive edge do you have that you could sell access to?”

Make it specific


Exercise:

Who is the ideal consumer? Why are you uniquely positioned to teach this?

What can you guarantee? How will you keep your ideal customer hooked? What solutions currently exist in the market?

How can you innovate, update, upstage or surpass?

Write into a pitch

Brainstorm different information you have that is profitable


How to deliver your content:

Online Vs Offline- perceived value of offline is often higher but more expensive to create and distribute

Online- complete software solutions like Kajabi, Summit Evergreen, Rainmaker or plugins like WishList member, Member Mouse, Memberium etc

Offline- paid newsletters, cd of the month, boxed content etc

How is your content best taught? Written? Audio? Video?


Membership Site Model:

Tightly Defined Niche Lots of unique knowledge or inside information Other products/ services to cross sell and up sell

Evolving market place/ needs/ information that breeds loyalty in the market Ability to produce content quickly and repackage in a variety of formats (podcast,

video, report, infographic etc.)


Other Notable Models:

ALL YOU CAN EATaccess to a library of content, people can create content for you and get paid commission based on interaction/ subscribers etcFRONT-OF-LINEpriority access to precious resources (i.e priority support)SIMPLIFIERsubscribe for someone to take on take repetitive tasks off your hands

PRIVATE CLUBsubscribers become exclusive members who gain entry (great for networking opportunities. Use a waiting list to build exclusivity.)CONSUMABLESsubscribe to replenish a commonly used itemSURPRISE BOXsubscribe for an eclectic package of a certain goodNETWORKsubscribe to be part of a network that gets better as more people join (i.e WhatsApp)


Recap

Subscription businesses are good for predictable cash-flow and for an entry level to a larger sales funnel

They take effort, patience, persistence and content More and more businesses are turning to the subscription model

Information can be valuable if it serves the specific needs of a passionate market It can be delivered in a variety of formats

There are many different info marketing and subscription models

“…a traditional business requires more brawn, while a subscription business requires more brain”-John Warrillow


Selling the damn thingProblems to overcome….


Selling the damn thing

You’re selling a relationship to people who probably don’t know you

Problems to overcome….




With subscription becoming more normal people are more cautious and weary





With subscription becoming more normal people are more cautious and weary

There is no information you have that can’t be gotten for free



Selling the damn thingPoints of power power points…



Promise and deliver a big return on their investment…under promise and over deliver

Points of power power points…



Promise and deliver a big return on their investment…under promise and over deliver Show them the value in what you offer- make a watertight case for the value of subscription





Make subscription a MUST- block all other access





Make subscription a MUST- block all other access Start small and/or free and build up the relationship through price ascension






Risk Reversal guarantee (à la Jay Abraham)






Risk Reversal guarantee (à la Jay Abraham) Test Drive (forced continuity- one month for £1.00 with full subscription after 30 days)






Risk Reversal guarantee (à la Jay Abraham) Test Drive (forced continuity- one month for £1.00 with full subscription after 30 days)

Scarcity- price raise or close doors to force the sale



Growth Via Retention

“Why do people drop out of membership programs or subscriptions?”

The Dreaded Churn (or attrition rate)


Growth Via RetentionKeepin’ em’ happy



Reach out offline

Keepin’ em’ happy



Reach out offline Plan surprise bonuses to keep their interest peaked





Sell them more stuff!





Sell them more stuff! Direct mail






Quizzes- gamification- make them work to access next level info






Quizzes- gamification- make them work to access next level info Get them to use the info!







Use video to build relationship







Use video to build relationship Have great customer service (hire VA)







Use video to build relationship Have great customer service (hire VA) Facebook groups/ forums- interact



Lead GenerationTake one piece of high value content and make it opt in…

Sponsored Facebook Ad > Blog Post (with retargeting pixal) > Opt In > Sales Page / VSL


Lead Generation

Self Liquidating Offer: On the opt in thank you page make a high value/ low price offer for a chunk of content

Take one piece of high value content and make it opt in…Sponsored Facebook Ad > Blog Post (with retargeting pixal) > Opt In > Sales Page / VSL


Lead Generation


Endorsed Mailing



Lead Generation


Endorsed Mailing Speaking



Lead Generation



Bonus Content for others offers



Lead Generation



Bonus Content for others offers Print Ads



Lead Generation



Bonus Content for others offers Print Ads

Test Drive / Sample



Elements of Copywriting and Persuasion

1. Scarcity

2. Authority

3. Likability

4. Reciprocation

5. Social Proof

6. Commitment & Consistency

Cialdini Principles


Exercise:

Brainstorm 3 different ways of pepping up your marketing with the Cialdini principles

TIP: Use the examples and templates provided

Elements of Copywriting and Persuasion


Getting More money

Try charging more Ask for referrals on the sales high- after purchase, after positive NPS score etc

Have Good- Better- Best Price Levels Affiliate other products to your members

Run Events Do market research – provide more products / services


Key Metrics to TrackRevenue Per Month

Total Subscription Income – Refunds

Average Monthly Subscribers(Subscribers at Beginning of Month + Subscribers at End of Month) / 2

Revenue Per SubscriberRevenue Per Month / Average Monthly Subscribers

Lifetime Customer Value Total All-Time Revenue / Total All-Time Paid customers

Monthly Renewal RateTotal Monthly Renewals / Total Eligible Monthly Renewals


Psychology bites…


Psychology bites…

Member rather then customer


Psychology bites…

Member rather then customerThey buy into an identity- who do they become by joining your community?


Psychology bites…


We live in a more disconnected society and crave connection


Psychology bites…


We live in a more disconnected society and crave connectionGive your members the rock-star treatment- praise their success publicly- show that members

get results then make it more difficult for outsiders to get in


Psychology bites…



get results then make it more difficult for outsiders to get inFoster an us vs them mentality- side with their prejudices


Psychology bites…




Create a character for you to portray to your members- people buy into ongoing stories


Psychology bites…




Create a character for you to portray to your members- people buy into ongoing stories Do they believe in you and your ‘powers’?


Psychology bites…





Do they believe in their own ability to generate results?


Psychology bites…





Do they believe in their own ability to generate results?Reward the action you want- nurture the ‘super-user’(badgeville.com)


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