Things That Are Important To Know Before Starting A Paid Membership/Subscription Website
One thing to keep in mind, that no one talks about, is that people will cancel. This is called churn, and the success of your membership site rests on your ability to minimize churn.
If your customers don’t maintain an active subscription, your revenue from each customer soon dissipates, and growing a profitable membership site business becomes nearly impossible.
By finding ways to keep your customers for longer, you increase the average lifetime value (LTV) of your customers. This is what makes membership sites an attractive business model for course creators, and why increasing your customer retention rates is so important.
Here are a few ideas to increase retention and reduce churn -
- Offer a welcome phone call to new members
- Send members a gift
- Provide members with access to you
- Arrange meetups for your members
- Send re-engagement emails to inactive members
Once you acquire all this, You will always be at the top.
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