In this ultimate guide, I'm going to take you through how to choose the perfcet membership site for your business.
The must-haves. The nice-to-haves. The deal-breakers. And I'm going to recommend the best one that I know.
But before we kick off, I want to tell you something really really important which should be at the forefront of your mind as we go through this training, and as you make your choice.
And that's this: we live in a world right now where just 3% of people ever even open the information products they buy, get through them or get results.
So what does that mean to you?
Simple - it means that for every 100 paying customers you get into your paid course or program, on average just 3 of them are going to get to the end of it, and get the results you've promised them.
I know it sounds crazy, and I know you most likely don't believe me, but we've measured this in hundreds of industries and across thousands of students. And it generally hovers at around 3%, whenever you're selling information in the form of courses, programs, training or products.
So how could this be?
Well you see, the trouble is that information alone doesn't work on human beings. It never did.
Most people don't like having to consume a lot of it. It makes us feel like we're drowning. And we certainly don't use it to transform our lives. You know what does work to change people's lives?
Experiences. (But I'm gonna come back to that in a moment.)
First, I want to refocus on you on that 3% number.
If you've never actually measured it in your business, I guarantee that this is your number. And that should be horrifying to you, because if you can do basic math, you'll immediately understand that if 97 people out of 100 aren't getting the results you've promised them in your courses, you have a huge problem.
Obviously, you're missing the chance to have a huge impact on a vast majority of your customers. Plus you're also reducing the chances they'll refer or recommend you, or ever come back and buy from you again down to basically zero.
A lot of entrepreneurs mistakenly think that their job is done after the sale is made. But this couldn't be further from the truth.
The last thing that YOU want is for YOUR product, program or course to sit on SOMEONE ELSE'S shelf, doing nothing for them. Why? Well, you've already done the hard and very expensive work of making the sale, but if you don't do everything you can to motivate your students to get results from the thing they just bought from you, then do you think they'll ever come back and buy again? Well, of course they won't.
And when this happens, you lose out on a LOT of money -- otherwise known as your Customer Lifetime Value. This is the amount of money you make, on average, from every buyer that comes into your business.
For our company, it's roughly $4,580, because we have other more premium programs and offers that we sell. And THIS ... is why we're serious about doing EVERYTHING we can to help the MOST amount of students possible make it through our programs and get the result they really wanted.
That's why, whichever membership site you choose, its number 1 job is to MAXIMIZE the amount of students who get results from your training and content. Let me repeat that. Whichever membership site you choose, its number 1 job is to MAXIMIZE the amount of students who get results from your training and content.
Why? Well, let's say that hypothetically you can increase that 3% number ten times to 30%, then logically, you have ten times more happy customers who want to buy your next product.
Does that make sense? And let me ask you, what would that be worth to your business?
So that leaves the question -- how do you do this with a membership site? I mean, membership sites are just for delivering information, right? Well, perhaps it was in the past, but in today's world, the role of the membership site has changed.
It's no longer a system that simply delivers content to people who've paid for it.
The new breed of membership sites are now systems that can powerfully engage your students, inspire them to take massive action, all the way to the end of your course, until they get results.
And the way we do that is through something we call "experiencification", which is a brand new combination of a few powerful things. In fact, we've borrowed the latest research and data from the fields and industries of:
- Adult learning psychology
- Addictive video games and apps, and the gambling industry
And we've used that data to compile the 10-point Experience Formula -- and the more stuff on this list that your membership site can do for you, the more you'll have a membership site that actually helps engage, motivate and excite your students... That pushes them to take MORE action. And can help them get to the finish line.
When your membership site can help facilitate that, your business grows on its own, in a viral way.
In fact, when we started testing these ideas in our membership site platform, we had a TWENTY TIMES lift in students who get getting through our programs, taking action, and becoming customers for LIFE.
And that literally quadrupled our customer lifetime value overnight.
That's why we consider Experiencification to be THE MOST important MUST HAVE in any membership site decision that you'll make.
Are you going to choose a membership site platform that helps facilitate that?
There are hundreds of different options out there, and the wrong decision, can and will bite you in the you-know-where with refunds, chargebacks and a ton of one-time-only customers who are the most expensive to get.
This means that business can stagnate and you'll need to invest a LOT more into marketing to keep things going. And that is when a membership site turns into an expense instead of a business-building asset.