Been reading a lot about our "membership economy" lately. As you know (because you're a member of my membership program), I am a big fan of the membership model. Mine launched successfully over 10 years ago and is still going strong.
But lots of membership programs fail. LOTS. Some because they never make it through the launch phase. Others because they can't deliver what they promised. Still others fizzle out because times (and tastes) change. Or because the owner becomes overwhelmed by the demands of the model.
It doesn't have to be that way. Before you launch your new membership program, consider these five key issues:
1. Your membership model and monetization plan. In other words, how will you generate revenue? When it comes to monetizing membership, you've got lots of options. But if you don't plan ahead, you could find yourself doing a lot of work for very little money.
2. Content creation and delivery method. What kind of content will you include in your progam? What's the process for creating the content? How will it be presented? Stored? Updated?
3. Technology. What platform(s) will you use as a "home base" for your membership? How will you process payments? Communicate with your members? You'll need a variety electronic tools to maintain your membership. Probably more than you think!
4. Launch. What's the launch plan? How will you introduce your membership program to the world? How will you identify prospective members, start relationships, and convert them?
Power up: Our monthly member webinar covers this topic in detail! See details about Proven Membership Launch Strategies on March 17th.
5. Retention systems. It's time-consuming and expensive to recruit new members. So of course you want to keep them as long as you can! How will you onboard new members (so they don't quit immediately)? How will you keep continuing members paying, staying, and referring?
Lots of details to consider! You have an excellent resource available right now: Membership Model Profitability Blueprint webinar. Find the video replay plus detailed notes on the DIY membersite here: