They each get one vote regardless of what they are paying, thus allowing for broad participation and a high quality product.
Requiring skin in the game is a good thing. It is very difficult to achieve any of the prior five things without a true commitment from true industry leaders. Requiring payment of membership dues from participants that can special accommodation can always be made for participants who might be under financial hardship , along with a legal membership agreement to adhere to the member-approved processes, is absolutely the best way to ensure that all the activity will result in actual market movement.
Commitment from members results in better ways to do things. IMS has made a very large number of changes over the last seven years. Just about all of those changes were ideas from the members. I'd like to tell you that we are organizational geniuses here at IMS and came up with all this ourselves.
But, the truth is that we just tried ideas that the members had and have kept the ones that worked. And, because this is an organization set up to serve the members, they can decide to take this in any direction that they think makes sense - a very important consideration given that standards are evolving from paper specs to reference implementations to who knows what?
During the last seven years we seen at least a half dozen standards activities in this space attempt to start and die. There are several other organizations and initiatives that are hanging on just barely in terms of needed financial support. One of the reasons that IMS began publishing the annual report was to provide transparency into how well our model was working.
When we started publishing the report we had no idea that we would have seven years of growth ahead of us, and, there is no guarantee of growth from here. In every business there are products and services that you can package to provide as premium services in your membership program. It just takes a little creativity. If you only offer one service or product, create more services and package them up to offer in a membership program.
Pricing of Membership Programs Membership programs have many pricing models and must be tested to determine the right price for your business and clientele. However, pricing your lower membership levels inexpensively is a smart tactic. After your customers have joined, then you can begin to start the upsell process by providing tempting offers to move up the membership ladder. To be honest, even if you have kept your promise and provided value it can be difficult to get people to renew.
Magazines consistently have this problem. In fact, companies have been established with the sole purpose to help other companies to maintain a high renewal rate.
The key to getting your members to renew is to provide value beyond what was promised and to offer incentives to renew. The incentives should have a low cost to you and a high perceived value from your member. For instance, suppose you offer a paid newsletter service. Your renewal offer might include several free teleseminars or a free discount coupons from a popular vendor that advertises in your newsletter.
Another option to improve your renewal rate is to sell renewals upfront by offering multiple period memberships at a discounted price. Locking your customers into multiple period membership programs should be an important goal. I also have a membership card from my local grocer, health club, and airlines Continental and Southwest.
Membership cards serve several purposes beyond just holding my personal and transaction information. It serves as a gentle reminder for your customer to take advantage of their membership. You can also use it as physical evidence for proof of membership.
In addition, you can use it to mark off visits or purchases of specific product much like a subway sandwich card.
You might even consider establishing your own charge card. Offering a credit card also makes it easier for your members to buy your products by providing installment payments. Conclusion Membership programs help to properly allocated company resources, increase customer loyalty, provide predictable revenue streams, sells more products and services, generates higher revenue per customer, and improve referrals.
Remember that running a membership website and your own personal growth tend to go hand-in-hand. The impression your membership site puts out to the world will be based on your entire body of work. This will automatically establish your industry authority and expertise, which will continue to grow stronger over time as you publish more content to your site.
As your membership base grows and your body of work evolves, your site becomes more valuable to people and to your industry as a whole. If you play your cards the right way, you may even experience a snowball effect that leads to a well-oiled machine that feeds back into itself.
It would look like this:. While the majority of digital business models operate on one-time product or service sales with the value being specific and intermittent , membership sites have cumulative value that continues to increase as time marches on.
Compound benefits, such as the value you provide, the vertical scalability of your site, the reliable income, the marketing intel, and your growing industry authority will all combine and play off of each other for your good. They amplify your overall brand presence and give you an engaging and rewarding way to make a lucrative living. Restrict Content Pro makes it simple for you to create and customize membership or subscription websites for you or your clients.
Net promoter…. You should be measuring your content engagement metrics because everything that is worth doing and worth having comes back to the foundational relationships you make and grow. And relationships start with engagement. Have you considered which content engagement…. When you think of churn rate, you may picture a butter festival somewhere with a strange competition. When we talk churn rate and business, though, churn rate takes on a completely different image, and believe it or not….
The customer lifetime value shows you how well you are maintaining the relationships with those who engage with your products and services. The worth…. Finding your ideal member helps you focus your content. But what if you knew exactly who would sign up for your…. Unsubscribe at any time. No spam. Restrict Content Pro. Contact Us. Refund Policy. Terms of Service. Become an affiliate. Brand Assets. Privacy Policy. Follow on Twitter. Quick Help. Common issues and FAQs.
Developer Documentation. Payment gateways.
0コメント