A Beginner’s Guide On Launching A Membership
If you repeatedly engage with clients or followers and want to provide ongoing value and community interaction, then you can translate that into a membership program that can help so many more! This guide walks you through what you need to know when launching your own membership.
What is a Membership?
A membership program is a subscription-based service where members pay a recurring fee to access exclusive content, resources, and community. The content is often organized into themes or topics, and can include videos, PDFs, workshops, and live Q&A sessions.
A membership is a more affordable option for those who want continuous support and access to your expertise without the higher cost of 1-on-1 services or 1-on-1 coaching. Members can consume on-demand content at their own pace and conveniently access the community anytime, anywhere.
How A Membership Can Lead To A Group Coaching Program
Members who love the expertise you share in a large group setting often want more personalized support and more frequent access to you. That’s when you can invite them to join a smaller group coaching program priced higher than the membership. Offer this group program, too, when you want to offer more advanced implementation strategies to a smaller group.
Why create a Membership?
A membership has several unique benefits for both you and your members.
Repurpose existing resources: Give members on-demand access to resources you’ve already created in your business. Paying members can browse a library of trainings, templates, and workbooks that may otherwise just be sitting on your computer gathering digital dust.
Easier to upsell higher-ticket offers: Once members have a taste of how you help them make progress, it’s much easier to upsell offers that provide deeper support - such as small group coaching programs focused on implementation or 1-on-1 services.
Have recurring monthly revenue: Even at a low-price, the recurring nature of membership payments can provide a steady and predictable income stream.
How Is A Membership Different Than A Group Coaching Program?
While both memberships and group coaching programs (GCP) offer valuable support and community, they differ significantly in structure, delivery, and the type of engagement they provide.
Structure and Delivery: A membership typically provides ongoing access to a library of resources, with new materials added regularly. This can include video tutorials, articles, downloadable resources, and community forums. Members can access this content in whatever order they wish and for however long they wish to stay in the membership.
In contrast, a live group coaching programs are more structured in how content is dripped out, with specific start and end dates for access to the coach. The program usually lasts for 3, 6, or 12-month increments.
Engagement Level: Memberships often focus on self-guided learning with some level of community interaction, like Q&A forums or group chats. The engagement is primarily between members, with some level of access to the expert.
Group coaching programs, however, emphasize direct interaction between the coach and participants. This high-touch approach includes live calls, personalized feedback, and accountability check-ins, fostering a more intimate and engaged environment.
Pricing: Memberships are typically lower in price and charged on a recurring basis (monthly or annually), making them accessible to a broader audience. Group coaching programs are usually higher-priced (like in the thousands) due to more direct and frequent access to the coach. Payment is collected upfront either as full-pay or as payment plans.
Understanding these differences can help you decide which model best suits your business goals and the needs of your audience. If a group coaching program sounds like a better fit, check out A Beginner’s Guide On How to Create a Group Coaching Program.
Should you launch a low-ticket membership?
Launching a low-ticket membership (whether that’s $20/$50/$100 etc. per month) can be a great way to build a large community and create a steady income stream - as long as the ROI still makes sense for the amount of effort needed to market and maintain it.
Consider these factors when pricing your membership offer:
CHALLENGES:
High Volume Required: To generate significant revenue, you need a large number of subscribers. This can be challenging and require substantial marketing efforts.
Content Demand: Maintaining a membership with ongoing content can be demanding. Regularly producing high-quality content to keep members engaged and subscribed requires consistent effort and resources.
Limited Individual Attention: With many members, providing personalized attention and support can be difficult. This can be a drawback for those seeking more individualized guidance.
OPPORTUNITIES:
Wider Audience Appeal: A lower price point makes the membership accessible to a broader audience, including those who might not afford higher-priced programs. This can lead to a larger subscriber base.
Lower Barrier to Entry: Potential members are more likely to join when the cost is low, reducing the friction of the purchasing decision and making it easier to attract new members.
Scalability: With a larger number of members, the community aspect can become more vibrant and active, adding value to the membership experience through peer support and networking opportunities.
Know your numbers so you’ll feel more confident in your membership pricing.
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