62 - How to Structure Your Program for Renewals (While Still Being Valuable for Alumni) [The Renewal Series]

One of the keys you might be overlooking to fill your programs more easily?Renewals!It's so much easier to sell to an existing client rather than a new one - I've read it can even cost 5x more to acquire a new customer than retaining an existing one.Now, I personally don't see it as "acquiring a customer" but when you can include renewals in your program rather than always looking for new clients, you'll be able to fill your program more easily, make your revenue more consistent and deliver deeper transformations for your clients.All of that is awesome... but how do you actually make that work in practice?In this series, we're diving into renewals and retention- how to structure your program for renewals, how to position and sell your renewal offer, and how to improve your retention rate.In this first episode on Renewal Structure, you'll hear:The 3 keys to making more money with your signature program (and this last one is often overlooked!) The benefits of having renewals for you AND for your clients If you should have a separate cohort for alumni, or if another model might work better for your businessThe renewal mistake that makes alumni check out (and how to set up your program so they're still getting value) Now that you can picture how you might structure your program for renewals, in Part 2 we'll look at how to position and sell your offer. Should you price it differently? Should you offer something different or special when you renew? How should you actually talk to your members about renewing? We'll dive deeper into it in Part 2!And, if you'd like support on structuring your program to offer renewals too, Signature Program Design could be a great fit for you. DM the the word WAITLIST and I'll send you more details!Did you find this episode helpful? Leave us a review - Lauren reads and appreciates each and every one!Connect with Lauren on Instagram @laurenmonique.business