Whether you’re currently hosting a membership program or plan to host one in the near future, there are some trends which have popped up that you’ll want to be aware of.
First, let me define what I mean by “membership program”:
Any program or service which results in you receiving automatic, recurring revenue:
- It could be ongoing with no definitive end
- It could be 12 weeks, 6-months, or any defined period of time
- It could be a program with benefits such as teleseminars and a forum
- It could be a service such as Team Sandy or website maintenance
You get the idea. . .
I’m seeing two different, yet similar trends when it comes to membership programs:
1. Membership program hosts are getting “lazy” by over-repurposing their materials and using the same info again and again without interjecting anything new.
In reviewing a potential new client’s offerings recently, I noticed that she offered the same basic material to everyone who hired her, regardless of the level (from basic membership to private 1-on-1) they came in at.
While that itself isn’t bad and is actually a smart thing to do, she stopped there. Her private 1-on-1 clients didn’t get anything more than those investing in her lowest end programs.
It was immediately clear why her high end clients were leaving and not re-upping: she was resting on what she’d already done/provided and not offering more (a.k.a. “laziness”) and it was costing her tens of thousands of dollars.
2. Membership program hosts are getting “lazy” in that they’re not creating new programs and services as their membership programs are steadily bringing in revenue and they’ve gotten used to that revenue level.
Membership programs are great! If they’re successful, you get a notice from your shopping cart each day telling you how much revenue is automatically coming in. It’s a fabulous feeling and one that, sadly enough, can lead to laziness since you *know* money’s coming in and so you end up being “too busy” to write that new program, product, whatever.
It’s another form of resting on what you’ve done. . . as you sit and wonder why you’re not reaching your revenue goals.