Members are better than customers.
They create consistent monthly revenue.
They’re more likely to buy your other products and services.
They have a higher average lifetime value.
And they’re often the ones who become evangelists for your brand because they identify with you and your message.
Look at the biggest ecommerce giant in the world.
Amazon has over 200 million Prime members.
A recent Bank of America report reported Prime members spent $1,968 per year on Amazon (roughly four time as much as non-Prime members).
That’s a massive difference!
And while Prime is Amazon’s primary membership, they have many additional ways you can pay them monthly including Kindle Unlimited, Audible, and Amazon Music along with Subscribe & Save for over 40,000+ products.
They’re just one example of why members are better than customers.
How many subscriptions does the average person have? Netflix, Disney+, Mobile Plans, etc.
Even Taco Bell is testing a Taco Lovers pass!
Memberships are a pathway to increased profits for the businesses who use them.
And they make life easier for their members.
Let’s take a subscription box like Barkbox.
They deliver a box of dog toys, treats, and chews each month to their members.
Their members would be buying toys and treats anyway…even if they weren’t a member.
Barkbox makes it easier and automated by making monthly selections for them.
They have over 1,000,000 members and went public in December of 2021 in a 1.6-billion-dollar deal.
How can you make life easier for your members?
It could be through a subscription box, but the majority of my clients offer some type of online membership or print newsletter.
They provide information. But more than that, they provide guidance.
They become a mentor to their audience. And they make their members feel a part of the community…where every member is onboard with the mission.
A few of the keys to a profitable membership site include having a clear vision, providing polarizing content that separates members from outsides, having your own core principles and unique language, and providing a feeling of exclusivity.
Stir in all those ingredients and you create a shared identity.
That connection boosts your retention, increases the sales of everything else you offer, and multiplies the lifetime value of your members.
My most profitable clients all have some form of membership in place.
Those memberships aren’t always monthly and they’re not always membership sites.
But members are better than customers…both for you and them.
My September webinar in the Monthly Mentor Club was “Customers Into Members: Why Members are BETTER Than Customers.”
You’ll discover 10 different types of membership…and how to select the right one for your audience and offer.
You’ll also discover how to create your minimum viable content, how to price your membership, how to sell it, and the 6 secrets to long-term retention.
The recording is available for immediate viewing inside the Video section of the Monthly Mentor Club.
Plus, you get access to dozens of my special reports and videos designed to help you earn more, work less, and enjoy life just for giving it a try.