1056. Keys to Launching a Profitable Membership
The Kelly Roach Show
Kelly Roach
4.9 • 964 Ratings
🗓️ 2 September 2024
⏱️ 14 minutes
🧾️ Download transcript
Summary
In this episode of The Kelly Roach Show, Kelly dives into the intricacies of launching a profitable membership, community, or subscription service. Drawing from her firsthand experience in launching the Virtual Business School monthly membership, Kelly offers a well-rounded perspective on the pros and cons, delivering valuable insights into the strategic considerations essential for success. She openly shares her journey, detailing the transition from high-ticket sales to a membership model, while emphasizing the critical roles of timing, market understanding, and robust infrastructure. While launching a membership service may initially seem straightforward, Kelly unveils the hidden complexities, including challenges like customer acquisition, managing churn rates, and the vital need for an established audience.
Also in this episode:
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A membership model should be lean and easy to manage if you have existing systems and a dedicated team in place.
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Launching a membership model is more efficient and profitable with an established audience and strong online presence.
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A low-ticket, high-volume product requires consistent sales efforts and strategies to manage customer churn effectively.
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Continual re-engagement and providing high value are essential to retaining members and achieving sustainable growth.
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Transcript
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| 0:00.0 | Welcome to the Kelly Roach Show, the place for no fluff, easy to implement 20 minute or less business and leadership lessons to help you build a sustainable business that scales. |
| 0:17.0 | Lead with integrity and create a lasting legacy. |
| 0:21.0 | I'm Kelly Roach, former NFL cheerleader and Fortune 500 executive turned |
| 0:25.9 | eight figure entrepreneur. Let's get started. |
| 0:30.3 | Welcome back today. We are talking about the pros and the cons of launching a |
| 0:36.0 | membership community or subscription service. So I want to talk a little bit |
| 0:41.6 | about what we have experience launching the virtual business |
| 0:45.8 | school monthly membership. |
| 0:47.6 | We have been in this game for just a couple months now. |
| 0:52.0 | We went from zero to over 330 members very, very quickly. |
| 0:58.0 | And so it has been a wild ride, very, very exciting and love the process, love the model. |
| 1:06.1 | And so I just want to talk a little bit about the pros and cons of launching a membership |
| 1:11.1 | so that you can think about whether or not this may be a good offer for you. |
| 1:18.1 | So the first thing that I want to just lay as a foundational tool to think about is when you are entering the online space and for a lot of |
| 1:26.3 | you you run established companies you've been in business for years but many of you may |
| 1:31.2 | have initially built your success offline. |
| 1:35.0 | Many of our clients and our listeners have been in business successfully for years, |
| 1:40.0 | but they don't necessarily have a huge online following. |
| 1:44.0 | And one of the things that I talk about all the time that I think is really important to reiterate in this conversation |
| 1:50.0 | is that there is definitely a success path that I believe is most manageable when |
| 1:59.0 | entering the online space and it's why I always teach people to start off with one to one high ticket, then one to many high |
| 2:09.0 | ticket, and then beginning to go down in the cost structure. |
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