InnovaBuzz Episode #93 – Mike Morrison, The Membership Guys
Mike Morrison, The Membership Guys
In this episode, my guest is Mike Morrison, of the Membership Guys, the Membersite Academy and host of the Membership Guys Podcast. Mike talks to us about the secrets of running successful membership sites, about engaging an audience and building a community.
We also talk about the importance of content marketing in building up your audience and ways to get new clients while retaining the old ones.
Listen to the podcast to find out more.Building a community is a critical component of a membership site. @membershipguys #InnovaBuzz Click To Tweet
Listen to the Podcast
Key points and take-aways from this episode with Mike Morrison of The Membership Guys include:
- Online communities are vital to successful membership sites. People join the membership for the content, but they stay for the community.
- Why would you set up for a Membership site? It’s a way to generate recurring revenue, but to have people keep paying you, you need to keep providing value, content and engage with your community. It’s a way of moving away from time for money, of serving a bigger audience. It’s scalable, predictable and a lot of fun for some people and amazingly fulfilling.
- In order to be involved in technology, content marketing, or any business, you have to
- Get the mindset right, understand what’s involved and if you want to do it.
- build your audience and followers first.
- validate your idea – prove that people will pay for your idea.
- Content marketing is a great way to building up your audience. This is through building the content and get it going through blog, podcast, Facebook Live and getting people on your email list. Build your list on the back of your expert content. You can do a lot with a highly targeted list that is interested in your content.
- Mike’s philosophy for podcasts and other content is to have every episode or blog be an answer to a question that has been asked in the community. This is a good way of keeping things connected. Also, featuring members in the podcast and free content is a good way to add value to the audience and highlight the value of the membership. Tying everything into the related paid content where the higher value of membership is, works as a marketing tool.
- Pricing suggestions for membership sites: the more one on one, the higher the value; the more you do for the members, the higher the value. As a rule of thumb, business to business membership will typically be priced around about $30 to 70/mo. Business to a consumer will typically be priced less because they are viewed in a very different way, they are viewed as an expense. Where the price to enter, like with photography or music (equipment needs to be purchased), it is possible to sell high value, high priced membership sites.
- There are four main things to consider in terms of member retention:
- Get your onboarding right. Provide an exceptional experience from the beginning
- Provide value on an ongoing basis – show up; serve your community; innovate; help them achieve their results and goals.
- Have a community group.
- Implement a dunning process – a process of handling failed subscription payments.
- In addition to that, find a good balance between retaining existing members and getting new members.
The Buzz – Our Innovation Round
Here are Mike’s answers to the questions of our Innovation round. Listen to the interview to get the full scoop.
- #1 thing to be more innovative – Actively engage with your audience, encourage, embrace and act on the feedback they give you. Your #1 role is to solve their problems.These people will point you in the right direction, to understand their problem.
- Best thing for new ideas – Set up a Facebook group; build the community.
- Favourite tool for innovation – Asana to manage projects.
- Keep project/client on track – Asana and using their template system. In terms of keeping things on track, we developed our own hybrid customized version of a combination of Kanban and the Eisenhower Decision Matrix. This is our means of prioritizing things we need to work on.
- Differentiate – Be laser focused on your niche. Maintain that unflinching focus.
To Be a Leader
Embrace your role as a problem solver. Fully understand that and make that central to everything you do in business. This will open your mindset to get creative to find solutions.
Mike suggested I interview Luria Petrucci from Liverstreampros.com on a future InnovaBuzz podcast.
So Luria, keep an eye on your inbox, for an invitation from us to the InnovaBuzz podcast, courtesy of Mike Morrison of The Membership Guys.
Links and Books
- The Membership Guys Website
- The Membersite Academy
- Mike’s LinkedIn Page
- The Membership Guys Podcast
- Behind the Membership Podcast – Callie Willows
- The Eisenhower Decision Matrix
- Chris Marr, The Content Marketing Academy, recommended we get Mike on the podcast.
- Information Marketing
- Information Marketing is Education
- Why Every Business Must Do Information Marketing
Cool things about Mike
- He wanted to be President when he was a young kid, but his mom said they don’t have Presidents in the UK so he decided to become a computer engineer and a programmer instead.
- He loves video games.
- He ran a digital agency for many years, before transitioning to a membership business.