Explore how Liz Wilcox turned a $9 membership into $500k revenue, shifting from client work to a membership model. Learn about creating a successful membership site, cultivating visibility for growth, and leveraging a recurring membership model. Discover tips on balancing client work, scaling membership, and boosting recurring revenue through exclusive content and bold offers.
Building a low-responsibility membership model for recurring revenue by offering affordable email templates to beginners.
Transitioning from trading time for money to leveraging memberships for scalability and value creation.
Emphasizing simplicity and affordability in membership offerings to attract customers, drive growth, and enhance community engagement.
Deep dives
From Blogger to Multi-Six Figure Membership
Starting as a blogger, the guest evolved into a successful freelance copywriter and eventually ran a multi-six figure membership. Initially feeling overwhelmed by a large freelance project, the idea of a membership to create recurring revenue emerged. By providing email templates to beginners, a low responsibility membership model was fashioned.
Challenges with Imposter Syndrome and Charging Worth
The guest struggled with imposter syndrome and apprehension about charging significant amounts for her services. The transition from trading time for money to setting up a membership for time leverage was marked by internal battles over pricing one's worth and the burden of delivering on large-scale projects.
Formation of a Recurring Revenue Model
Seeking freedom from overwhelming client work, the guest developed a membership offering affordable weekly newsletter templates. The focus on low responsibility and cultivating time leverage through a membership model aimed at providing continuous value.
Launch of $9 Email Marketing Membership
With the launch of the $9 email marketing template membership, the guest aimed to attract initial customers. Emphasizing simplicity and affordability in the offer, the membership gained traction leading to rapid growth and building a tight-knit community.
Scaling Membership and Engagement Strategies
To grow membership numbers and enhance engagement, strategic pricing and limited availability offers were leveraged. By focusing on delivering value and fostering connections within the community, engagement and retention rates improved despite increased churn rates in later stages of growth.
With a growing email list of beginners wanting to learn about email marketing, she knew she wanted to find a way to step away from client work within a couple of years.
She had just signed a huge copywriting contract worth $20,000... her biggest one yet. But instead of excitement, all she felt was dread about the massive project she now had to take on.
And as a single parent, she knew the importance of creating a business that would support her lifestyle and allow her to be present for her family.
This is where the idea of "low cost = low responsibility" appealed to her, as it would allow her to serve her audience at LizWilcox.com while maintaining a manageable workload.
So Liz had the idea to create her flagship offer The Email Marketing Membership - a set of done-for-you email newsletter templates that members could access for just $9 per month.
Tune in to Episode 600 of the Side Hustle Show to learn:
How to come up with ideas for your own recurring revenue membership
How Liz built her own email list and audience
How to improve retention and continue delivering value to members
New to the Show? Get your personalized money-making playlist here!
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