So, You Wanna Start a Membership?

Call us biased, but we LOVE the membership model. Now more than ever, your clients want community, camaraderie, and easy access to the resources they need when they need them. That’s exactly why the membership model is on the rise (a ~ 2.9B industry for coaching memberships alone in 2022). But, before you go all in, use this list to see the BIG picture of memberships and exactly what you’ll need to be successful.

Planning

• There are many different moving pieces and parts to the membership model. While some call it “passive income,” the passiveness only comes once you have a solid engine to run your membership business.

• Unlike launching a stand-alone offering, the membership model is a long game, and you can’t pivot as easily once you have paying members. So, thinking through your membership from launch to what to do if you want to close the doors is paramount.

• Here are some operational questions to consider:

  • Is your membership subscription Monthly, Quarterly, and/or Yearly?

  • How much will you charge to provide a ton of value while covering your expenses and making enough margin to be a significant revenue stream for your business?

  • Will you offer a free trial, and for how long?

  • How will you attract and retain members?

  • Do you have enough resources to support your membership's daily operations and growth?

  • Will you accept new members anytime or only during designated open enrollment periods?

  • What are your cancellation policies? Do you offer refunds?

  • Is there an application process, or can anyone join?

  • What are the clearly defined membership benefits you will offer on an ongoing basis?

  • Will everyone receive the same thing, or will there be levels?

• If you can respond to each one of these questions with confidence and in detail, you have the ingredients to build a strong foundation for a membership.

Operations & Technology

• Technology plays a HUGE role in your membership. Members will want to access their member benefits on their own time, which often means evenings, weekends, and holidays when you’re less available. Selecting the right technology to support your members so your membership doesn’t rule your life -- or you don’t end up with unhappy customers -- is KEY!

• Choosing the right technology to support your membership is paramount. Many membership platforms are available, or you can piece together a more custom experience using various cloud-based tools and social media channels.

• It's important to fully map out your end-to-end member experience to help you decide which technology best fits.

Marketing & Communication

• One of the MOST important and often most overwhelming parts of the membership process is the communication between you and your members. People have their own preferred methods of communication, so striking a balance between what works best for you (for example, a member portal) and what works best for them (for example, email) is critical.

• At a minimum, you will need the following templates:

  • Welcome and Onboarding Email Sequence

  • Cancellation and Offboarding Email Sequence

  • Weekly, Bi-Weekly, or Monthly Member Communication

  • Communication channels for daily support (email, Slack, chat box, etc.)

• Much of your communication will need to be automated to ensure timely responses.

• Memberships are not a “if I build it, they will come” entity. They require a consistent marketing strategy to recruit new members. Your membership won’t be a good fit for everyone, so it’s important to have a clear idea of your target audience and their needs.

• Polling is a regular part of the membership process. While you can’t expect people to tell you what they need, it’s your job to ask the right questions so you can adjust your member benefits accordingly.