431 - Why Is Mike Stelzner Closing His Successful Membership?

In this episode, I sit down with Michael Stelzner, founder of Social Media Marketing World and the Social Media Marketing Society, to dive deep into why he made the big decision to close down his successful membership after a decade. We unpack the strategic thinking, the data, and even the unexpected tech issues that led to this major pivot in his business. I also explore the launch of his new AI Business Society membership and what it means both for him and the wider membership industry. If you’re at a crossroads with your own membership, you’ll find plenty of actionable insights and thought-provoking guidance in our conversation.In this episode:What were the main factors and turning points that led Michael Stelzner to sunset the Social Media Marketing Society after ten years?How did market changes and the rise of AI influence the strategic pivot towards launching the AI Business Society?What was the process and communication strategy for closing down an established membership, and how were existing members supported during the transition?What lessons has Michael learned from running multiple memberships, and how is he approaching the new landscape in the world of online communities and AI?Key Quotes & Takeaways:"that idea of pivoting, even just a small amount can be daunting. But some of the lessons and some of the things that you've done in terms of maintaining that long term vision, looking for those overlaps and not rushing it, not just cutting everything off and considering it as an entirely new business.""I'm militant about saying no to anything that's not in alignment to my mission because I can't do it all. And those who do it all end up failing.""We at Social Media Examiner believe very strongly to do fewer things well is better than doing lots of things poorly."Thank You For ListeningWe 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.