Just like that, another year is over...

And what a year 2024 has been!

It has certainly been a big year for the Membership Geeks! We hope it’s been a successful and productive year for you and your membership.

With only a few days left of 2020, it’s time for our traditional end of year recap show.

Listen for our top 10 most popular episodes of the Membership Geeks podcast in 2024.

Thank you so much for your continued support of the show this year - I really appreciate each and every one of you.

Here’s to an awesome 2025.

In this episode of the Membership Geeks Podcast, I delve into the crucial issue of what to do when members are leaving your membership site because they say they can't afford to stay subscribed.

I explore practical strategies you can implement to address both actual financial challenges and the perception of value that might be causing cancellations.

I'll also discuss how to gather valuable data from departing members and offer them alternatives to outright cancellation. Join me as I share actionable insights to help you retain more members and grow a successful membership business.

In this episode:

• How can you effectively collect data from outgoing members to understand their reasons for leaving?
• What strategies can you implement to address members' financial constraints without losing them permanently?
• How can you present the value of your membership to members considering cancellation due to perceived lack of worth?
• What are some alternatives you can offer to members instead of cancelling their membership outright?

In this episode of the Membership Geeks podcast, I discuss why an exceptional new member onboarding process is crucial for the success and longevity of your membership business.

I delve into how effective onboarding can significantly improve member retention, set the right tone from day one, and help new members feel welcomed and valued.

I also share practical steps and strategies to create a warm and guided onboarding experience that keeps members engaged and committed.

In this episode:

• Why is new member onboarding critical for membership retention?
• What are the essential elements of an effective onboarding process?
• How can you make new members feel welcomed and appreciated from the start?
• What follow-up steps should you take after the initial onboarding to ensure continued member engagement and satisfaction?

In this episode of Membership Geeks Podcast, I dive into the exciting news of our upcoming live conference, Retain Live 2025!

I share the backstory of our first event in 2019, why we decided not to continue with annual events, and how we navigated the challenges posed by the global pandemic.

Join me as I talk about the renewed enthusiasm and strategic decisions behind running another membership conference and what attendees can look forward to.

• Why did we decide to bring back Retain Live after a six-year hiatus?
• What were the key factors that influenced the decision to not hold annual events?
• How did the global pandemic impact our initial plans for future conferences?
• What can attendees expect from Retain Live 2025 in terms of content, speakers, and networking opportunities?

Find out more about Retain Live 2025 at www.retainlive.com

In this episode, I dive into the vault to bring back some timeless wisdom on validating your membership idea before launching.

Validation is crucial to ensure that your membership has strong foundations and stands the test of time.

I share valuable insights on researching, understanding the problem you aim to solve, and making sure there's a paying audience ready for your solutions.

This episode is a must-listen for anyone in the planning stages of starting a membership site.

- What steps should I take to ensure that the problem my membership addresses actually exists?

- How can I determine if my target audience has a recurring need or a lengthy journey that can be supported by a membership model?

- In what ways can I validate that the audience I am targeting is willing to pay for my solution?

- How do I evaluate my own long-term commitment and interest in running a membership site?

We really appreciate you choosing to listen to us and for supporting the podcast.

We would be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show. They're extremely helpful when it comes to reaching our audience and we read each and every one personally!

Finally, don't forget to subscribe to the podcast to make sure that you never miss an episode.

In this "From The Vault" episode, I delve into advanced membership pricing tactics that can significantly influence consumer decisions and enhance membership sales.

We explore concepts such as price anchoring, decoy products, and comparative pricing, providing practical examples from successful companies.

Additionally, we discuss the psychological impact of pricing strategies and the importance of limiting options to avoid overwhelming potential customers. Join me as we unravel these powerful techniques to fine-tune your membership pricing strategy.

- How can price anchoring be implemented to make a membership option more appealing compared to other choices?

- What are decoy products, and how can they be used to reframe buying decisions in favor of a preferred option?

- Why is it essential to limit the number of membership options to avoid decision fatigue, and how can this be managed effectively?

- How do psychological factors like the leading number in a price and the influence of prices ending in 9 or 7 affect consumer perception and decision-making?

We really appreciate you choosing to listen to us and for supporting the podcast.

We would be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show. They're extremely helpful when it comes to reaching our audience and we read each and every one personally!

Finally, don't forget to subscribe to the podcast to make sure that you never miss an episode.

In this episode, I dive into the archives to revisit one of our most talked-about topics from 2017: the closed door membership model.

While it's a tactic that’s gained traction over the years, I share five reasons why I generally dislike this approach for memberships.

You'll hear me discuss the potential downsides, such as community stagnation and attracting the wrong type of members, and provide insights that remain highly relevant today.

- Why do I believe the closed door membership model often results in higher costs and lower long-term member retention?

- How can a closed door strategy negatively impact the dynamics and engagement within your membership community?

- Why might relying on this model indicate lazy marketing and potentially attract less motivated members?

- What are the circumstances where a closed door membership model might actually make sense and benefit both the member and the business?

We really appreciate you choosing to listen to us and for supporting the podcast.

We would be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show. They're extremely helpful when it comes to reaching our audience and we read each and every one personally!

Finally, don't forget to subscribe to the podcast to make sure that you never miss an episode.

Do you know what the average churn rate is for a typical online membership?

How about revenue benchmarks?

Average conversion rates?

What about the most popular tech solutions? Or the most effective marketing channels?

Truth is, there's very little reliable data available about the online membership industry.

That's because this market is relatively tiny.

It's a niche, of a niche, of a niche.

What data we do have tends to come from either the broader subscription industry, or from membership associations.

Neither of which reflect the online membership world.

Years ago we made it our on a mission to change that by conducting a survey of thousands of membership owners designed to shine a light on the real data and benchmarks for the online membership industry.

And now it's time for an update...

We’ve spent the past fews months tapping into our audience of tens of thousands of membership business owners to identify how they’re performing, what challenges they’re facing and which benchmarks and trends are prevalent.

And we've compiled those results into the Online Membership Industry Report 2024

In today's episode of the Membership Geeks Podcast, I'm sharing some of my top observations, takeaways, trends and other interesting tidbits and insights taken from this year's report.

We really appreciate you choosing to listen to us and for supporting the podcast.

We would be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show. They're extremely helpful when it comes to reaching our audience and we read each and every one personally!

Finally, don't forget to subscribe to the podcast to make sure that you never miss an episode.