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
This article is part of an ongoing series, which is based on the ebook 'Top 21 marketing methods for membership websites', written by The Subscription Coach Amanda Northcutt.
Download the whole series in a book
I hope 3-4 of these channels resonated with you and you're prepared to run some basic marketing tests over the next few months. Follow the guidelines at the start of this guide to figure out which channels are suitable (both lucrative and secure) to your subscription. Take the steps listed in the first part of this article to figure out the most viable channels (both profitable & trustworthy) for your membership.
A well-planned marketing strategy is the lifeblood of your business However, it's certainly not the end-all answer to long term achievement. The first step is to have a viable membership product. It is then your job to attract with your clever marketing strategies people who hold the potential to become power users. If you already know the secret to how members use your site in order to be power users, you're halfway there!
Armed with the understanding of what the members you have like most about you and the problem you solve for them, you're best prepared to try different marketing avenues to find viable ways to attract more members who resemble those power users.
No matter the channel the message you use for marketing will direct prospects to things about your membership site that users of your site love the most. If you begin by appealing to the right kind of customers initially instead of trying to get as many sales as possible it will set you to be profitable and expandable. In addition, your members will be happier, more prosperous, and will be raving about you online!
When you've determined the 2-4 viable acquisition channels that best target people who have the potential to become power users, and you've got an effective lead nurturing sequence in place (emails and retargeting advertisements), all you have to do is keep those customers in the loop. Easy, right? I'm afraid not. The phenomenon of churn, also known as cancellations by members is the main cause of decline of membership-based businesses in general In many instances, it, leads to their eventual death.
According to Harvard Business Review, it costs between five and 25 times the amount for acquiring a new client than to keep an existing one! It's not an easy one to take for anyone that relies on recurring revenue models similar to you.
It's your responsibility as the site owner to track member engagement and intervene when your hard-earned paying customers are slipping away and becoming disengaged. If you've got the correct customers paying the membership, it's also your responsibility to assist them realize the value that they're buying.
Do you want to elevate your membership to the next level? Take a look at our Coaching and Consulting services to get one-on-one insights, accountability, and everything else you need to succeed.