Tomorrow you’re going on an EPIC journey with me… but today we get a field report from Mikey “Pancakes” Whitfield on the latest membership and recurring revenue tips trending in the industry.
If you want to get paid EVERY month for your expertise, you’ll love this.
The Truth About Continuity & Recurring Revenue
By Mikey Whitfield
Back at the January Mastermind Meeting in New Orleans, we had a special guest, Mr. X, talk about how continuity programs have changed. He also dropped 7-figure secrets on what you need to do if you want to have a kick-butt membership site so you make money while you sleep every night.
Here are the bullets that stood out to me:
Membership sites are nice, but people want simplicity. If you throw 100 archived workouts, interviews, diet programs, and more, your customer will be overwhelmed and immediately leave. More does not equal better. People are busier than ever and want simplicity. How can you help them without overwhelming them?
Tell them EXACTLY what they are getting up front. Auto-delivery? Mail? DVD? Weekly? Bi-weekly? Monthly? Make it clear AND make it easy to access (Facebook group for example).
Get feedback from your existing PAYING continuity members. Use this info to improve your stick rate.
How can you improve the experience?
A great model in your upsell flow is a free 3-day trial. This gives viewers enough time to check out the offer and keeps it “fresh” enough so when they are billed, they know what it’s for.
Prevent customer service headaches and give them the option to cancel in the first email. It doesn’t have to be blatantly obvious – something in the bottom of the email/autoresponder is fine.
Ask yourself, “Are you demonstrating VALUE for what they are investing monthly?”
For example, a continuity program at $197/month should give them access to YOU.
Awesome, thanks Mikey. You’ve earned your pancakes.
And hey, if you know of someone that wants to get started online or finally hit the 7-figure revenue mark, have them watch this short video on getting started.
“Being a part of the 100K Mastermind group has taken me from having no knowledge of the online world, no product, and no contacts to a 7-figure business today. I’ve been able to help over 50,000 women with my online coaching programs and I’ve learned so much that I’m now able to help coach the Mastermind. I’m a teacher at heart so this is a huge win for me.” – Shawna Kaminski, Master CTT