Should You Create An Online Membership?

Did you know that acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one, according to the Harvard Business Review? And it makes sense: you don’t have to spend time and resources to constantly attract new clients: instead you get to focus on keeping your existing clients happy. So what would it look like if 97% of your clients paid you again next month? This is the business I have created with my online membership. About 18 months ago, I was only offering one to one services. I really had no idea or experience in the online business world. But I knew the way I was working wasn’t making me happy. I wanted to work with more people, but my time was capped out. I also wanted freedom to work when I wanted to, to work from where I wanted, and for most of my time to be spent teaching and supporting. And of course, I wanted to grow my revenue too without needing to put in more hours. Within a year, I grew my membership to a six figure income stream in my business, and have the freedom to work from where I want to, when I want to AND really love the work I do. In this episode we are going to look at if an online membership could be a great fit for you, and what questions you need to ask yourself to find out. We cover: What an online membership is exactly Why you might want to launch one What the benefits are What the different is between a membership and a course The beauty of recurring payments Three measures to know if running a membership is for you. This episode is brought to you by my new online program, Scalable, where I’ll teach you how to map out, create, launch and sell your first online membership. Go to www.emilyosmond.com/scalable to enrol.