When it comes to pricing models for your membership, from annual to quarterly to monthly, you can find many different opinions on what’s the “right way” to go about it.
The truth is: there are no rules or one single golden standard.
In this episode of our Mastermind Series, we discuss what you should consider when setting up your payment plans to attract the right audience that works for you and what incentives you can offer.
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3 Big Take Aways
- Which markets to target as guest speaker
- How to avoid clouding your messaging
- Which guest experts to invite for your memberships
- Adaptive Inner Circle – The Adaptive Inner Circle is an epic 12-month experience for online business owners, coaches, course creators, and membership site owners who aspire to create financial freedom and a lifestyle they want for themselves and their family and also create a positive impact in their community and the world.
- Adaptive Marketing Program– Adaptive Marketing Program is an exclusive opportunity for online business owners, coaches, course creators, and membership site owners to play bigger and bolder in their business and explode their bank account with more clients!
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Melissa: Next we have Meg.
Meg: Good afternoon. My question is when you're collaborating or sharing audiences, what are some ideas to really like light that on fire and also maybe you're bringing someone on that has like nothing to do with what you do and how do you intertwine the two
Melissa: excellent question.
Paul: All right. So has anybody done any collaborations cross-marketing promotions, or have you seen it done successfully? Any tips or recommendations that you can give?
Sharon: Are you talking Meg about cross-promotions or more like, like I have guest experts in my members.
Meg: Yeah, I have guests experts too. I'm talking more about when you were going, you're going to maybe have someone just come randomly join. Maybe they're not a leader or an expert per se. Maybe they could become one, but you're trying to cover a topic that has nothing to do.
Um, I'm a nutritionist has nothing to do with food or nutrition, for instance, maybe it has to do with real estate or, or living . Wells or things like that.
Sharon: What's your goal in doing that? Well, my membership is harmony within, it's not just about nutrition, but my goal is to share audiences so that I can grow more followers and members, et cetera.
Paul: So does anybody have any experiences with this either as a consumer or influence.
So it's really interesting is Melissa just did a presentation a few hours ago before we got on this call and she spoke into a group of physicians, guess what? About potentially looking for a membership opportunities in their practice.
Melissa: It was really great. It was a, it was a great presentation. And I think like when you're looking at those collaborations, it's just never to take anything that we know for granted.
Right. Because it's a whole new group of people and just really shifting their mindset on looking at recurring revenue models, subscription models, and things like that and how they can bring that into their businesses. So when you work on these collaborations, and if it's something totally different , thinking about that in transformation for your audience and what they're looking for. Like how can, what they have that knowledge and skills and expertise relate to that end transformation that they want.
So I'm sure like with the real estate like if you have someone like that and yours is more like harmony within, it's like having a better sense of, for . Example, like maybe even your, like your finances so that you're not having like those worried feelings there is that harmony within going back to that end transformation.
So even in that group today where I had that presentation, even though most of them hadn't really thought about a recurring revenue and they have a, you know, it's a very, it's a different field than just like, you know courses and memberships buttons like, Hey, you know, as a physician, there's lots of opportunities.
Whether it's, if you look in real life that you could have a subscription or something, that's going to supplement what you already do with the people that you work with.
Paul: So, what I'll add is what I would recommend is first I would start with adjacent natural markets that would be peripheral around what your core topic is, because it will make the most sense, like that's what people are coming to you for.
They're not necessarily looking for you to like, solve all the problems in the . World for them, because they probably know other people in those other fields that they would go to first cause we want to be careful of is that if you introduce too much of that into your audience, then it clouds your messaging.
If you're trying to get expanded your audiences, I would rather you go into those audiences with your message versus you constantly interrupting your own audience where there's random messages. Does that make sense? So
Paul: So in, in Melissa's case with this example, we just gave people would not have naturally thought about, you know, physicians, but there are a lot of people in the medical world health world that have monetized really well with subscription models.
You know, it could be a physical product. It could be, you know, everything from a supplement to preventative care. Like there's a lot of things that have interrupted the health world, you know, that are subscription. So that allowed her to have a link to go to influencers, to be like, Hey, here's an opportunity where we can speak into this topic outside of our natural bubble.
So we were able to bring that value. So I would look for that link cause otherwise what'll happen is if you, if you're just bringing in these things, it might just cloud the messaging the purpose and reason why people are there. Like it might have a feel good to it, but then there, there might be a certain point you're overloading them with too many variables and, and you know, at least on your end, so very openly I'll let you know on our end, we go out and seek as much as possible as far as opportunity. So we can be in as many places that our message makes sense. And at the same time, we're very protective of our community.
' cause, we don't want a lot of randomness to come in because everybody that comes in, they also want to sell their own product and service. So it's like you bring in a financial planner. Well, they not just really coming in to talk about financial planning, they want to sell their services to your group.
So, you know, so it's just like, you're constantly. So you just want to have that delicate balance, like just being careful that you might be stretching too much into my, you know, I'll try to keep, what is your core transformation that you're giving and what are the peripheral, the adjacent opportunities that are within it.
And just to let, just so you can understand, like, We have in the past, brought in like, you know, within our space. Even though we talk about helping people at courses and memberships and helping them get all that squared away and attracting clients, they're entrepreneurs, they're building their businesses.
So we brought in people that were like QuickBook experts, you know, that would show people how to do their bookkeeping better. In, in the past about digital, de- cluttering, you know, as far as like how to make their world, we had a time doctor, time management, you know? So we, we brought in other experts, you know, within what we felt were still things that made sense for why they were there.
Like, you know, so yeah,
Meg: that makes total sense. Yeah. And I think what you said about Melissa going out and speaking to physicians. Yeah. There's they just, they're not thinking about this, but when they hear the concept, obviously they're bright people and they do the math. I mean, we're probably going to be seeing more of that down the road.
I know for myself, I live in Rhode Island. There's not one dietician. I don't think that has a membership except me. I'm sure that will change. But I actually thought about calling the Rhode Island dietetic association and offering to do a presentation, but then I'm kind of like, yeah, but then I'm going to call this competition
to let it get up and running first,
Paul: make it a success. And that's your secondary business opportunity because you did it. You now can show others how to do the same thing. Yeah. Yep.
Meg: Yep. Great answers. Thank you so much every while.
Melissa: Awesome. Thanks Meg.