Creating and running a successful membership site can be a great way to generate revenue. That is why I invited Mike Morrison to this episode of The Sigrun Show, for a discussion how you can successfully implement a membership to your online business.
Mike discovered the potential of having an online business when he made his first dollar online more than a decade and a half ago. He is the co-founder of the company, The Membership Geeks, where he plays a crucial role in the growth of successful 6 to 7-figure memberships. He has worked with big brands such as McDonald’s, ITV and Ancestry.com and owns the largest free Facebook group for membership site owners.
Mike talks about the factors to consider in creating and running a successful and growing membership site. He explains how you can establish relationships in your community and how to reduce member overwhelm and site owner overwhelm. He also goes over how you can make the experience — both yours and that of your customers — more relevant and personal despite the number of members.
In This Episode of The Sigrun Show:
- Why membership sites work
- How to determine if a membership site is for your business
- The common principle people miss when creating a membership
- Membership sites as a business model
- The relationship between your core focus and revenue generator
- Why you should be the number one member/fan in your community
- The biggest mistake people make in creating a membership
- The significance of idea validation before creating a community
- Two-fold role of membership site owners
- How you can take advantage of the free Facebook Group
- The three groups of people you need to follow up on
- What to do with the information you gather from the groups
- When it is fair to ask for entry fees
- Why transparency is his favorite thing about memberships
- Content vs deliverables
Key Takeaways:
- You need a strategy to keep your members long term.
- Set your community’s expectations appropriately.
- If it petrifies you, don’t do a membership.
