Membership Geeks Podcast with Mike Morrison

Payment disputes are a reality of running any business, including membership sites. Luckily, they don’t happen often. But when they do, they take valuable time away from your business and revenue generating activities. Since the beginning of the Membership Guys Academy site, we have had over 6,000 members and only 20 payment disputes. We have learnt a few things about this issue along the way. Have a listen to find out what to do when they happen to you, and ways in which you can minimize the risk of them happening again in the future.Essential Learning Points:The typical payment dispute processThings to consider when a dispute is illegitimateWays to minimize the risk of payment disputes from happeningKey Quotes“Having a refund period that is fair is a good way of reducing the number of disputes that are filed against you.”“Even if you can prove, beyond a shadow of a doubt, that someone is filing a totally spurious payment dispute, a nonsense dispute, and even if the payment provider believes you, they won’t always side with you. ““You won’t be able to escape the possibility of getting rid of a complaint completely, but you can minimize the likelihood of it happening.”

In our early days of working with memberships, we stumbled across an article that claimed that the average member only stays subscribed for a mere 3 months. You’ve probably heard this yourself. It’s a claim that’s been repeated and republished so much, that it became readily and widely accepted. But it’s nonsense. There’s not a single shred of data or evidence for that ‘3 month’ claim. No source data, report or study cited, anywhere. The fact that this claim persisted for so long is part of a larger problem. There is no reliable data available about the online membership industry. Truth is, this market is relatively tiny. It’s a niche, of a niche, of a niche. What data we do have comes from either the broader subscription industry, or from membership associations. Neither of which reflect the online membership world. We figured it was time to change that. It’s time for some real data and benchmarks for the online membership industry. So we’ve spent the past 4 months tapping into our audience of tens of thousands of membership business owners to identify how they’re performing, what challenges they’re facing and which benchmarks and trends are prevalent. And we've compiled those results into the very first Online Membership Industry Report In today's episode of The Membership Guys Podcast, I talk about some of the biggest takeaways from this report and discuss which membership benchmarks surprised me, the trends to pay attention to and other interesting tidbits and insights taken from the survey results. In this episode... How this report obliterates two of the most common myths in the online membership space The definitive answer to the "Open vs Closed" membership debate What's the most worrying trend amongst membership site owners? Surprising insights around pricing, retention, team size and more...

It's coming up to that time of year where promotions and discounts abound.Whether it's Thanksgiving, Black Friday, Christmas or New Year, the sales season is definitely upon us.While these kind of sales are traditionally for physical products, there's no doubt that digital products have jumped onto the bandwagon over the last few years, and you'll see more and more discounts being offered.But what about membership sites? Should you capitalize on these busy promotional periods where some kind of special offer is almost expected?And what about the rest of the year?Promotional campaigns can be a bit of a minefield for membership site owners, who need to walk the delicate line between getting new members in the door and keeping existing members happy.In this episode we're going to explore the different types of promotions that you can run for a membership website and the situations where they can be beneficial.

Despite what the slickest of snake oil salesmen will try to tell you, there is no secret sauce or golden formula for building a successful membership website.The key to the long term success of your membership site lies beyond marketing tactics, sales spiel and fancy production values; and the memberships which do best are those which - at their heart - understand and embrace a core set of fundamental principles.In this episode, I outline 7 essential principles shared by the most successful memberships around.

Success in membership sites often comes with a series of missteps. Many seasoned owners fall for common pitfalls, forgetting the value of their initial loyal members. Resentment can brew against early adopters, hindering growth. Complacency is another trap, as adapting strategies too frequently can destabilize success. Ongoing learning is crucial to navigate these challenges effectively. Embracing change while honoring the past can lead to a more sustainable membership business.

There are many reasons people are attracted to the membership model.The most compelling for us is how dramatically different (and better) making recurring income from a membership is compared to servicing clients on a one-on-one basis.This is particularly true if you’re a “one man band”, where you’re solely responsible for the delivery of what you sell, so that might be: Website developersBusiness coachesGraphic designersMarketing consultants Or anyone else who works with clients one on one or even in small groups. Your business is holding you back. In this episode, I’m going to explain why the membership model is far superior to offering one-to-one services, as well as show you how you can start incorporating memberships and subscriptions into your own business.

Retain Live 2019 was a phenomenal success - especially for our very first live event! However as we discussed during the first part of our "debrief", it was a little rocky in the build up. In this concluding episode, Callie and I talk through the event itself, breaking down everything that happened and how it all came together; sharing some of our biggest lessons and top takeaways for anyone thinking of running a similar event. In this episode... The moment we realised that all of our hard work, and the complete burnout we'd experienced, was totally worth it. A recap of the sessions, speakers and surprises from across the 3 days of the event How we added special touches and memorable moments to make our event truly remarkable Answering that all important question about whether we'll be running another event like this one

Two weeks ago, we kicked off our very first live conference: Retain Live 2019. It's the first time we've run an event of this scale, and to say it was a new, interesting and challenging experience would be a major understatement! While the event itself was a huge success and we've had overwhelmingly positive feedback - getting there certainly wasn't smooth sailing. In the first of our two-part debrief, Callie joins me on the show to discuss the weeks leading up to the event - as the workload (and stress levels) ramp up. In this episode... Why we hated the whole process of selling tickets for our event, and the reason we ended ticket sales early The big discovery we made about ourselves while preparing for the conference and working with our event team Unexpected challenges and frustrating obstacles that led to us hitting breaking point the week before the event Our biggest lessons and top takeaways for anyone thinking of running an event like Retain Live

If you have a great idea for a membership, you need to validate whether or not it’s destined to fail or succeed. Like Rome, the world’s leading membership sites weren’t built in a day. They started as an idea in someone’s mind, which was nurtured, tested and validated until there was undeniable proof the idea was a winning concept. When you’re excited about an idea for a membership, it’s easy to let your bias belief that your idea is gold get in the way of reality. This frame of mind can give you a false sense of security and cause you to invest everything in an idea that will never get off the ground. Before you pursue your membership idea, you need to test and validate it with an MVP. This will help you to discover whether your idea has true potential or not. In this episode, I reveal the importance of using an MVP to test and validate your membership idea and how to create one. Episode Summary: What an MVP is and how it will validate the potential success of your membership idea The characteristics of an effective MVP An insight into the six main types of an MVP as they relate to membership sites How to know what type of MVP will work best for testing your specific membership idea Why you should still use an MVP to test your new membership idea despite already selling products or services successfully Key Quotes: “A good MVP should solve a problem or deliver an outcome that's either the same or similar to that of your membership.”  “An MVP is a minimum viable product, something that you offer to your market that is a relative representation of your membership with just enough features. It’s the bare minimum that you need to be able to put it out there and try and get people to buy or register interest.” Thank You For Listening We really appreciate you choosing to listen to us and for supporting the podcast. If you enjoyed today's show, please share it using the social media buttons on this page. We would also be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show in Apple Podcasts. They're extremely helpful when it comes to reaching our audience and we read each and every one personally! Finally, don't forget to subscribe to the podcast in Apple Podcasts to make sure that you never miss an episode.  

Deciding how much you should charge for your membership site is one of the most important decisions you’ll make. Charge too little and you risk losing out and making no profit. On the other hand, if you charge too much, there’s a chance nobody will be able to afford your membership. So, how much should you charge? Unfortunately, there’s no one-size fits all approach when it comes to pricing your membership. But there are four key areas to look at to help you land on a price that you and your members are happy with. Tune in to hear what they are and discover a few helpful tips when it comes to defining your membership pricing strategy. Episode Summary: Why you need to know your cost of member acquisition How to make sure your membership site is profitable and sustainable How to move the focus away from the price of your membership and towards the value of your site instead Considering your competitors when working out what to charge Why you need to consider the profile and financial situation of your audience A general rule of thumb for B2B and B2C membership prices Mentioned in this episode: Membership Academy Membership Mastermind Facebook Group Key Quotes: “Above all else, your membership site needs to be profitable. If you're not making money, you're not going to last long. And the business that doesn't make money isn't a business. It's a hobby.” “Your members should be getting so much value from your site that they don't ever question whether it's worth paying the $50 a month or whatever you charge. “Do not compete on price. Competing on price very quickly becomes a race to the bottom. No matter how cheap you are, there is always someone who will undercut you. Remember, your membership needs to be profitable, don't price yourself out of business.” Thank You For Listening We really appreciate you choosing to listen to us and for supporting the podcast. If you enjoyed today's show, please share it using the social media buttons on this page. We would also be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show in Apple Podcasts. They're extremely helpful when it comes to reaching our audience and we read each and every one personally! Finally, don't forget to subscribe to the podcast in Apple Podcasts to make sure that you never miss an episode.