Membership Geeks Podcast with Mike Morrison 409 - Help! Members Are Leaving Because They Can't Afford to Stay!
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Dec 11, 2024 When members leave your site due to financial stress, understanding their reasons is key. Gather insights from departing users to tackle their concerns. Explore flexible payment options and highlight the true value of your membership. Alternatives like membership pauses can prevent cancellations. Plus, engage with fellow membership owners to share experiences and strategies. Strengthening community ties can enhance overall retention and growth efforts.
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Collect Exit Data
- Collect data from outgoing members about why they are leaving, ideally before they cancel.
- Include multiple-choice options and a free-text box in your cancellation form.
Cost vs. Value
- Members leaving due to cost isn't always about money; it can be about perceived value.
- A member might be able to afford it but not see enough return to justify the expense.
Pausing Memberships
- Offer alternatives to cancelling, such as pausing memberships (indefinitely or temporarily).
- Pausing maintains their membership and pricing, making it easier to return.