Monthly memberships are the holy grail of online profits.
You have a consistent and reliable income coming in each and every month…even when you’re not launching a new product, doing any special promos, or anything else.
But all is not well in Membership Land.
What most gurus won’t tell you is just how bad the churn rate is for the average membership site.
The retention rate number I regularly hear is 3 months.
That’s pitiful. That means on average you can only expect to earn 3 months of income from each new member.
Why do most membership sites have a revolving door where they’re losing members as fast as they can bring them in?
Imagine how much more profitable your site could be if you bump that up to 6 months…or even better…12+ months.
I started one of the very first internet marketing membership sites in the early days of the Internet which I eventually sold off in 2004.
And this marks the 10th year I’ve been publishing my paper-and-ink newsletter, the Monthly Mentor Club.
I’ve helped hundreds of clients create memberships in all different niche markets for both B2C and B2B.
There are a few simple ways you can make your membership much more sticky and profitable.
Of course you need great content. That’s a given. If you’re not giving value to your audience, they’re not going to stick around.
But content isn’t enough.
You also need a few secret ingredients.
One of those is empathy.
Your audience has to know you care. You understand what they’re going through and you’re providing them a path to a better future.
You inspire them to take action and believe in themselves.
Help them implement and see results quickly.
Make them feel like they belong.
All of us are looking for people who ‘get us.’
Where can we plug into and fit in?
Do these right…and you’ll see your retention rates soar.
But that’s just the beginning.
The monthly fees are only a portion of what you should be earning from your membership.
Create the right connection with your members and they’ll become your best buyers.
They’ll buy your coaching.
They’ll attend your events.
They’ll be first in line for your new products and services.
The March issue of the Monthly Mentor Club is all about how I create and manage my paid paper-and-ink newsletter and membership area.
I’ll let you in on behind-the-scenes strategies and techniques to not only multiply your retention rates, but earn considerably more money from your membership site.
Claim your copy by joining Monthly Mentor Club before this issue goes to print on March 1st.