Retention Point

1. The Retention Point: The Key to Membership Growth

The Retention Point is when your members become so emotionally invested in what you deliver, they become Lifers.

Shift in focus. Traditional membership marketing often emphasizes acquiring new members, but the real key to growth lies in retention. The Retention Point is the moment when members become emotionally invested and committed to staying long-term. This shift in perspective can lead to exponential growth, as retained members not only provide consistent revenue but also become advocates for your program.

Measuring success. To leverage the Retention Point:

• Identify when and why members reach this level of commitment
• Develop strategies to accelerate the journey to the Retention Point
• Focus on metrics beyond new member acquisition, such as retention rates and lifetime value

2. Member Leaders vs. Membership Marketers: A Paradigm Shift

Membership Marketers fail because they believe the wrong things about growing membership. Member Leaders succeed because they focus on building relationships with members, getting them to the Retention Point of engagement and making members eagerly want to belong for life.

Relationship-building. Member Leaders prioritize fostering deep connections with their members, understanding that long-term success comes from creating a sense of belonging and community. This approach contrasts with traditional Membership Marketers who often focus solely on transactional relationships.

Key differences:

• Member Leaders prioritize member experience and engagement
• They create a sense of shared purpose and values
• They focus on long-term relationships rather than short-term gains
• They adapt their strategies based on member feedback and needs

3. Crafting an Effective Member On Ramp

Your Member On Ramp must focus as much time and effort on teaching your new members what to believe as it teaches what you deliver.

Onboarding strategy. The Member On Ramp is crucial in setting the tone for the entire membership experience. It should not only introduce members to the practical aspects of the program but also immerse them in the culture and values of the community.

Key components:

• Welcome message that reaffirms the member's decision to join
• Clear explanation of what to expect and how to get started
• Introduction to the community and its values
• Early opportunities for engagement and quick wins
• Guidance on how to maximize the membership experience

4. The Power of Emotional Investment and Belief

Members join when they are attracted to a transformation opportunity; they stay when they share your beliefs and your mission to improve the world.

Creating believers. Successful memberships tap into members' desires for personal growth and belonging to something larger than themselves. By aligning your program with members' aspirations and values, you create emotional investment that goes beyond the tangible benefits of membership.

Strategies for fostering belief:

• Clearly articulate your mission and values
• Share stories of transformation and success
• Create opportunities for members to contribute to the mission
• Regularly reinforce the unique value proposition of your community

5. Clarity and Focus: Preventing Member Overwhelm

A confused mind causes a canceled member, clarity gets your member to the Retention Point.

Simplifying the journey. Many members quit because they feel overwhelmed by too much information or unclear pathways to success. Providing clarity and focus is essential for keeping members engaged and moving towards their goals.

Keys to clarity:

• Create a clear, step-by-step pathway for members to follow
• Break down complex concepts into manageable chunks
• Provide regular guidance and support
• Celebrate small victories along the way
• Offer clear, actionable advice rather than information overload

6. Delivering Quick Wins and Recognition

Build confidence with simple tasks that deliver the fastest possible first win.

Momentum building. Early success is crucial for member retention. By providing opportunities for quick wins, you build confidence and motivation, encouraging members to stay engaged with your program.

Implementing quick wins:

• Identify low-effort, high-impact actions members can take immediately
• Create a system for recognizing and celebrating these early successes
• Use these wins to reinforce the value of the membership
• Gradually increase the complexity of tasks as members progress

7. Upselling Strategically to Boost Retention

I've found that when you offer an upsell to your new members during your Member On Ramp, the new members who invest in the upsell product retain at a much higher rate.

Smart upselling. When done correctly, upselling can increase both member value and retention rates. It's not just about generating more revenue; it's about offering members additional ways to engage and succeed within your program.

Upselling best practices:

• Ensure the core offering delivers on all promises
• Position upsells as accelerators or enhancements, not necessities
• Time upsell offers strategically within the member journey
• Provide clear value propositions for each upsell opportunity
• Use data to personalize upsell offers based on member behavior and preferences

8. The Importance of Member-Centric Communication

Nothing you do to get your members to the Retention Point will improve unless you make your member the subject of every sentence and paragraph.

Shifting perspective. Member-centric communication is crucial for building strong relationships and driving engagement. It's about consistently demonstrating that you understand and prioritize your members' needs and aspirations.

Communication strategies:

• Use "you" language instead of "I" or "we"
• Focus on benefits and outcomes rather than features
• Share member success stories and testimonials
• Personalize communication based on member preferences and behavior
• Regularly seek and act on member feedback

9. Building Value Beyond the Product

Membership isn't about what you deliver. It's about the experience.

Creating a holistic experience. Successful memberships offer more than just products or services; they provide a comprehensive experience that enriches members' lives and aligns with their values and aspirations.

Elements of a valuable membership experience:

• Community and networking opportunities
• Personal growth and development resources
• Exclusive content or access
• Recognition and status within the industry or niche
• Opportunities to contribute and make a difference
• Ongoing support and guidance

Last updated: November 6, 2024