Lowering Acquisition Costs for Your Membership Site
What are some hands-off ways you can lower acquisition costs and grow your membership? Check out these ideas…
Create a Tiered Membership
The idea here is to create a membership with three levels:
· Free membership level.
· Low-cost membership level.
· Mid-to-high-cost membership level.
What you want to do is hand out free memberships to get people onto your mailing list. Be sure to put them into an onboarding sequence so that they actually use the membership – because once they start using it and getting results, they’ll be happy members who’ll want more from you. Then you can upsell them into your low-cost and eventually onto the premium level memberships.
This technique lowers acquisition costs, because you’re sending all your traffic to a high-value offer that’s free. It’s irresistible, so you get plenty of people joining. Then you can put these folks into a “set it and forget it” autoresponder sequence that gets them consuming the content while upselling them to a paid membership level.
Here’s the next tip…
Optimize Your Sales Process
A lot of membership marketers waste an incredible amount of time, money and effort by driving traffic using campaigns and sales materials that aren’t optimized. They figure as long as they’re making some money, then the process is working for them.
Nope, don’t do that. Don’t settle for “meh” conversions.
Instead, implement testing and tracking through every part of your sales process to maximize conversions. This includes optimizing your ad campaigns, your promo content, your emails, your lead pages, your sales pages and more.
Check out SplitTestMonkey.com for a good tool that will help you get more clicks, sales and cash for every visitor who arrives on your site.
Now a quick parting thought…
Many membership marketers think that getting new members is one of the hardest and most costly parts of running a membership site. That’s probably true if you’re using expensive advertising methods, or those that are time-consuming yet provide very few actual paying members.
That’s why we suggest the following:
· Focus your resources on getting other people to recruit members for you. You can do this by setting up a referral campaign, a viral marketing campaign, an affiliate program, JV partnerships and similar.
· Utilize the tips you’ve learned for lowering your acquisition costs, which in turn boosts your profits. Using set it and forget methods such as guest blogging is a good way to do this.