Milestone #5 for creating a profitable membership is Launching! This is all about get paying members in, starting to work with them and getting them results!
In this episode we are looking at the 3 Unexpected Reasons To Launch Your Membership Today (other than money). The reasons are:
The benchmark for this milestone is… I have opened the doors to my membership/program and have paying members inside that I am helping get results and solve problems (internal and external). I have also now started tracking all relevant metrics.
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You’re listening to marketing chaos, episode number 1 0 8. Welcome back to this show. I’m so excited. You’re here to learn all about launching your membership. And we are in our new house and loving it. Although I need some, I need some help. If anyone has the answer to this question, please, DME, Instagram, Facebook, whatever Lauren Marie global. I need to know how to get my dogs to go through the doggy door. We’ve been just installed a dog door. We have two toy oodles and they’re like seven kg, 10 kg, something like that. Like 15 pounds. They’re tiny. So we got a dog door. It was first one was a cat door. And I was like, oh my gosh, my husband bought it. I was like, babe, what, what is this? A cat door? Like, it was too small. So he went back and got a small dog door, which is the right size.
But it has like a flap that they’re scared to put on their head. So they, they paw at it and then it comes back and hits them. And they’re like scared to go through. I’m sure they’ll learn. We’ve been, uh, looking on YouTube for like how to get the dog through the dog door. That’s our that’s our task for today is like trying to teach the dogs. It’s okay. You’re not gonna get stuck in this thing, but maybe someone has a trick you can share with me. I would be really grateful. So today we are talking about the three unexpected reasons. You will be glad you launched your membership today. And this is actually milestone number five in our membership launch academy. If you haven’t listened to, to episode 1 0 3, I go through all seven milestones to hitting a hundred thousand dollars in your, uh, membership.
So this will be milestone number five, and it’s all about launching. So when you get to the point where you’re ready to open the doors for the foot time to your brand new, bright, shiny membership, we call that launching. You’re going to get paying members to join, and you’re gonna start working with them and getting them results. So this is when you start creating your core content, as well as your ongoing content. So you have two types of content. One is like the, that they’ll get when they join, no matter what time they join and that’s the foundational information that they’ll need. So if there’s any like sort of basic thing that they need to know about in order to understand the new topical ongoing content that you’ll be putting out, you need to put that in the core content. So you’ll be creating your content and you’ll be using those initial members.
Or as I like to call them OGs your original gangsters in your membership, you’ll be using their questions to help you create that content so much easier than guessing what people need and guessing what kind of information you need to create and deliver better to have real live people in there asking questions, and you serving them in a, uh, unique in individual way based on that first group. So this way you’re actually building your me chip in a way that’s going to serve future ideal customers without you having to start over all again, over and over again all the time or trying to guess what’s gonna work for your members. So these, uh, this episode is about the three unexpected reasons that you’ll be glad that you started today. And obviously one of the not unexpected reasons, one of the obvious reasons is that you’re gonna start making money.
So we’re not even gonna talk about that, cuz that’s, that’s obvious like once you launch your membership, you start making money. That is, that is obviously a big reason to start today. And that is and motivating factor start getting that recurring revenue in. Even if it’s a small amount, having that consistent revenue can really help build your confidence, allow you to reinvest in your business, maybe upgrade some of your systems or hire a VA part-time or whatever it is that you can do to start improving business. But those are not the three unexpected reasons we’re gonna cover today. So here we go. Number one, unexpected reason that you’ll be glad you launched your membership today is Intel. So I call it Intel cause I really love heist movies. And you know, the first thing they do when they have a mark, as they study them and they find out their habits and when they wake up in the morning and what they do throughout their day and you know how much security they have on their door and things like that.
So different type of Intel for your membership, nothing beats having paying people inside your program when comes to getting useful information on creating your content and knowing what to deliver and how to market and message your audience based on real live people who are invested and who are paying. So getting your first launch underway and getting, even if it’s 10 people in there who are paying you, even if it’s your founding member rate, your OG launch rate. So it, it will be the lowest rate that your membership will ever be. And that’s good for both you and your members, but even if you just have 10 people and they’re paying a low rate, that is a world of difference from let’s say a free Facebook group, okay. We have a free Facebook group on a similar topic. People are not at all paying for this content.
They’re less invested. They’re just maybe perusing scrolling, popping in commenting, but they’re not going to have the level of engagement that they will, even if they’re paying a small amount. So if they pay, they pay attention is, is one of those sayings. I don’t know who created, but it’s really true. So when they are paying something, they’ll be paying more engine, which means you get the benefit of their attention, which is really what you’re after here, because they’re gonna be the people that help you figure out what problem you are solving in your membership. What the transition is, the transformation, where are they when they come in? Where do they wanna go? Where are they trying to go? Like, what’s the ideal sort of end state, even though we’re never done changing and transforming, but where are they headed and really listening to them more than anything.
So the engagement level will be higher and unlike a free each channel, um, like this one, a podcast, or if you’re doing lives or you’re doing YouTube videos, et cetera, that’s really one sided. So you’re delivering content and maybe you get some comments or questions sent in, but it’s not really the same as having a two-way conversation. As you would be able to with your members. When you have a membership, you get to poll them, survey them, email them, get them on a call with you. Like literally just ask them questions. It’s really, uh, this captive group of people paying attention that are interested in whatever it is that you have to offer. You will never get better information than that from this group. So this is number one, the most valuable thing about starting your membership today is the Intel that you’re going to get.
So because people have, self-selected essentially to getting in this group, they are by definition, your ideal customers like in the flesh. So before you may have, have created an ideal customer avatar. Now you have real life people. You can actually choose one as you know, the maybe symbolic of the group or one or two. And when you go to write your marketing, when you go to write your next social post, or you’re making an ad or you’re writing an email or you’re doing a webinar, think about that person. What is it that would speak to them? What are their needs? What are their desires? What are they staying in bed? You know, lying in bed. They’re not able to sleep at night. Like what’s keeping them awake. You will now have real life people to tap into in your mind, but also you can literally speak to them and find out these things.
So this is by far the most valuable and most biggest reason that I could give you to launch your membership today. And it’s one of those things like you need this information in order to get them there. But once you have that, have them there, then you even get more access to the information. It’s like a chicken and egg situation. So whatever you have to do to get your first group in there and your membership launched, just do it like really just do it. I’m, I’m sure you can find 10 people to come, you know, learn from you, uh, change something and, and pay you a little bit of money, make it a good deal for them. And it’ll be so valuable for you to get this Intel, right? So even versus someone that’s just on your, uh, email list, or that’s just following you, organically, someone who’s inside your membership is really gonna give you the best, uh, Intel, the best data, the best information.
And you’re gonna use that when you market and when you write your messaging, you’re going use their actual words. You’re going to find out literally what it is that they need and their external and internal needs. So what are their external needs like money? Um, you know, their, their external problems could be, you know, their kid doesn’t go to sleep at night. They wanna lose weight. Like they, you know, there are certain things that anyone could see from the outside. Those are external problems and external needs, but they also you’ll get this inside, look at their internal problems. So those are the things that go on internally that maybe no one else knows about, but they’re definitely just as real and even probably more important. And you’ll find out about them by having these Q and A’s or these discussions, um, these coaching calls, whatever you’re doing with your members, where you get to actually know what’s going on in their head, what are their thoughts, their feelings, their emotions.
So the Intel number one, most unexpected reason and biggest reason. You’ll be glad you launched your membership today by far number two commitment. So this one is interesting. And for every single person that I have worked with that has launched a membership, they’ve said something to the effect of this has made it so that they were forced to step up. And they were really grateful for that, you know, lighting that fire under their bum because they have now this group of paying people that are expect something from them, and they’re not willing to let them down, whereas before they may have been willing to let themselves down or procrastinate or put things off, maybe there’s always some higher priority that seems to come in. But when you have a group of paying people and they’re sitting there like waiting for you to deliver something that you said you were going to deliver, guess what?
You show up, you show up for them, even when it’s uncomfortable, even when you don’t really want to. I mean, I got COVID and I had to show up for my membership and it was like, I, you know, and I explained like, Hey guys, I’m really sick. And I’m still here and I will do my best. And if it’s not a hundred percent, this is why I’m really sorry. But, um, you know, what are you gonna do? Like, I’m just trying. I was like, I slept all day. And then I woke up just to do this call with you, and then I’m gonna go back to bed and you know, I’ll do my best, but it’s like, you, you, you have to step up, you have to commit to your own life. You have to commit to what it is. You’re creating you no longer have this escape, route this back door.
It’s like, oh my goodness. Okay. Like I’m all in now. Right? And you’re gonna have to work out the kinks on things that maybe you’ve put off, like say your email, you know, setting up your email, CRM, your payment system, like getting your community features going. Like whether you’re gonna use a Facebook, uh, group for your membership, or you’re gonna use a membership platform. Like what, or there’s a lot of different options, but you’re gonna work that out because you’re gonna need a place for these people to be, and engage and interact and for you to deliver your content and all of those things. So guess what? You’re gonna work all that out. And you’re gonna find a way you’re gonna stop procrastinating, like finding a VA or learning these things yourself, because now you have to, and before it was just an idea and it was a theory and it was something maybe you could learn one day when you didn’t have anything else going on and now you have to make it top priority.
Cuz it’s like, there are people here they’re paying you. They need you to do this. So commitment is number two. And what it creates for you to know that on an ongoing regular basis, there is you have committed to delivering something, whatever is inside your membership. And there are people who are gonna hold you accountable for that. And that is in, um, in a weird way, a real gift because it, it makes you have to deliver where maybe before you wouldn’t have really held yourself to that commitment for yourself. Typically we do more for others than we do for ourselves. Sad is that is, but it, I think is, is our nature, right? It’s like, you’ll, you’ll go the extra mile. If someone else needs you to you’ll show up. Even when you don’t feel like it. If someone else is expecting you to, you still do your Q and a, even if you’re sick, like I did, if someone else is, is requiring that from you, but it’s a real gift because what it creates for, for you, no out to mention your business can be learning what that’s like and having the awareness of wow.
You know, I am doing what I said I was gonna do, and I’m making progress now. And this is changing and I’m helping people and it’s like
Getting exciting and all of that. So number two is commitment, reason, number three, unexpected reason that you will be glad you launched your membership today is tracking. So if you start your membership today in a year, well, less than a year, but in a year, let’s look at you’ll have a full year’s worth of data and tracking metrics that is going to be super valuable to you. Things like LCV lifetime customer value. What is that? Well that’s, that will be a start of your LCV. I mean, we did our me or two years. So there were still members in that, at that point. So it was like 24 months. It’s not even the full lifetime, but you have a much better idea. The longer your membership goes of what your lifetime customer value will be. So having an idea how much a customer is worth over the lifetime time, um, of their, of their experience with you is a great number to know.
So for instance, in a membership, let’s say they’re paying a hundred dollars a month and on average, they stay for 10 months. Well, you know that your lifetime customer value is a thousand dollars. So if you know that, then getting a member in is worth a thousand dollars, even if they don’t pay on average. So even if they’re, you’re not recouping, let’s say your ad cost or your whatever your, your cost of customer acquisition is when they’re getting in, you know, okay, this customers is likely on average gonna be worth a thousand dollars. So I’m able to spend more than just a hundred dollars to get this member. So having that data is going to be very valuable for things like, you know, knowing how much you can spend and invest how much, how many members you need to hit your, your goals, your targets, and another number you’re gonna track is your retention rate.
So that’s on average, how, how many people or what percentage of your members are staying over time? So if you have like 96%, uh, retention rate, it means that on average, you’re losing 4% of your membership and that’s your churn as well. So you need to know your retention rates, your churn rates, also conversion rates off of any sales events that you do. So over a whole year, you’re tracking, you’re going to know, okay, on average, if you did four webinars, four live launches, you’re gonna take an average of how many of those people that attended that webinar ended up purchasing the membership. So you’ll have, you know, conversion rate for a full year where you can, you can safely say, okay, with all these numbers, I’m going to need, um, 500 people to come to my next webinar in order to get however many what your conversion rate is in order to get this many members.
And that’s gonna net me this much money, because I know my lifetime customer value. And then you can pretty much predict how much money is going to be coming into your bank account on a regular basis, monthly annually, et cetera. So you can make the decisions based on that and have that stability or that predictability of the consistency, you know, knowing, okay, I have this much and I’m gonna need to do another launch, you know, at this time to bring in new members, because by then we will have lost X number, cuz you’ll have those metrics. And all of that sounds maybe to some of you really exciting, cuz you love numbers and others of you are like, oh my God, what did you say? I heard tracking. And then I totally tuned out, well, this is, these are things that you learn when you have a membership or a coaching program where you’re taking in recurring payments, you know, in order to have a successful business, you need to get familiar with your metrics.
And another thing is member engagement. So how much are members consuming your content? Like how many of them show up live to your, your calls? How many of them are watching the videos you, you know, post or your core content? Like how much of the course are they getting through? If you have a core content dinner or, or mini course inside your membership, um, engagement in all, all different ways, like whatever you are offering, how much are people consuming and engaging with that? And what is that engagement like? So tracking, tracking, tracking, um, if you start your membership today, you are going to start tracking today and then a year from now, you’re gonna have so much amazing data. You’re gonna be able to make really informed decisions in your business. So the benchmark for this milestone is that you have opened the doors to your membership or coaching program and you have paying me and side that you are helping get results and solve problems, both internal and external.
And you’ve started tracking all of the relevant metrics now. So once again, the three unexpected reasons, in addition to starting to make money, to start your li membership today are Intel commitment and tracking. So hopefully you got something out of this episode coming up. Next time we are going to be talking about building out a simple sales funnel. That’s going to lead to your membership, being able to execute your sales strategy and assess your results. So do you have a way to attract leads, nurture them and invite them into your membership. If not come next time, we’re gonna discuss all the things. Thanks for listening today. And I’ll see you next time.