The Retention Club
Skyrocket your membership profitability through increased retention and member value π°
Calling all membership owners:
Admit it: You've spent a lot of time, money and resources on trying to figure out how to get your membership site to be as profitable as possible. But you've hit a wall.
β You run Facebook Ads
β You do live launches
β You're pretty good at selling and getting people in the door
But it feels like a never-ending treadmill of sales and finding new leads ...
You've started to realize that no matter how many sales you make, it's only a matter of time before they cancel their membership and need to be replaced.
Here's your problem:
You're putting too much focus on one part of the equation, completely ignoring another equally important part.
Maximum Sales + Maximize Retention Rate = THE MOST PROFIT
Retention Rate = the percent of people who stay each month (not including new members)
Right now, you're focused primarily on maximizing sales - which is great.
But if you're ignoring maximizing your retention rate?
Then you're leaving easy money on the table.
Fact:
It is 5 to 25 times more expensive to attract a new member than it is to retain an existing one.
Let me paint you a picutre
Imagine you have a membership where:
β‘οΈ Cost per Acquisition: $50
β‘οΈ Price of Membership: $50 per month
β‘οΈ Average Retention Rate: 1 month
π¨ Return on Investment of Ad Spend: $0
Actually... you'd probably find that your membership is losing money - it's not even breaking even - when you take into account the cost of running the membership.
But what if your average retention rate was 4 months?
Let's replay those numbers:
β‘οΈ Cost per Acquisition: $50
β‘οΈ Price of Membership: $50 per month
β‘οΈ Average Retention Rate: 4 month
π¨ Return on Investment of Ad Spend: $150
And when you scale this out to account for revenue made from each member,
the impact of retention on your membership profitability is undeniable.
When it comes to maximising your profit, every improvement and gain in your retention rate counts.
Brooke's Case Study
Meet Brooke. When we first started working together, her monthly churn rate was 10%!
One of the first things Brooke did as part of The Retention Club was audit her membership to understand what was working and what was a little confusing for her members. Together, we built a plan to make her membership as intuitive as possible.
A few months later, her monthly churn rate was down to 5% - that's a 50% improvement!
Here's what Brooke had to say about The Retention Club:
"I have had a subscription membership for almost four years, and I was recommended to Liz by another business owner. I signed up to her free newsletter and quickly discovered that what she delivered for free I had paid thousands of dollars to previous coaches for. I knew that if this was the standard of what Liz gave away for free, I could only imagine how much value she would be providing in her paid programme. For me it was a no brainer! I loved how simple her on boarding process was and have come to learn that everything Liz teaches she does. She is literally the proof in the pudding! Iβve been in The Retention Club for 2 months and completed two of the modules, I love how simple it is all laid out and how well Liz explains the who, what, where, when and why and her examples along the way. Iβve been extremely impressed with the level of custom support and feedback Liz provides even though it is a group program. She actually responds and I donβt have to continually follow her up to check if she has received my questions, with previous coaches this was the case! Really excited to keep going with the programme and looking forward to increasing my retention!"
- Brooke, Founder of Social Club Membership
Retention Red Flags
How many of these retention red flags do you have?
π© You're worried your members are overwhelmed
π© Your monthly retention rate is lower than you'd like it to be
π© Your members are largely unengaged
π© You're not sure if you're giving your members the absolute best experience possible
π© You're losing members faster than you're gaining members
So you're convinced:
You need to put just as much focus on minimising churn as you do on getting new members.
But HOW!?
You minimise churn by maximising retention.
Increased retention is what will sky rocket your profitability
Improving your member experience will reduce your churn rate.
Which means any paid acquisition will have a higher return on investment.
It means your members have more opportunity to be up-sold.
Fewer members cancelling means more profit for you business.
Plain and simple.
Are you ready to focus on retention?
Introducing The Retention Club
The Retention Club is a 12-month long premium group coaching program for profitable membership site owners with everything you need to elevate your member experience, retain more of your members for longer, and turbo-boost your monthly recurring revenue.
Here's what's included:
π Access to my Member Milestones Framework
I created the Member Milestones Framework as a way to systematize the process of maximising retention within a membership site. It's a step-by-step process that has helped create massive wins for my clients. This framework will walk you through, step-by-step, what you need to do to create a member experience that's so irresistibly high-value, that you create super fans who feel a strong sense of identity and pride in being a long-term member, and thus stick around as long as possible. With pre-determined checkpoints and milestones, it's an incredibly intuitive, effective system.
π Weekly group coaching calls
Every week you'll have the chance to pre-submit any and all of your questions answered, relating to improving your membership experience and retention. I make myself available to all members every week for live Q&A, coaching and consulting. If you and your team are trying to implement something, but feel stuck for any reason, this is your chance to get the help you need!
π Pre-recorded custom critique & feedback
As you work through The Retention Club syllabus, you'll be able to submit your work for feedback and critique. This is your opportunity to get my eyes and brain on your membership giving you actionable, expert feedback on everything from high-level approach, to strategy, copy, and more.
π‘ Connect with other likeminded membership owners
You'll be part of our Facebook Group, where you'll have the opportunity to connect with other like-minded membership site owners. The Facebook Group is the perfect place to connect, ask questions, and take a peek behind the curtain of what other memberships are up to.
π Premium trainings, resources, and scripts
You'll learn how to implement my Member Milestones Framework, step-by-step, with checkpoints and milestones laid out for you to submit your work for critique and keep you on track. Each programme covered in The Retention Club comes with absolutely everything you need to execute - from visual automations, to scripts you can lift and shift.
Why you should trust me.
Hey, I'm Liz Beadon π
I spent ten years working for some of the world's most recognizable brands (like Virgin and Samsung) on customer loyalty and retention.
One day last year, my sister asked if she could hire me as a consultant. She owned a membership site delivering prompts to small business owners, but she had a major problem: retention. She knew, just by listening to the kind of work I was doing in Corporate World, that my systems and strategies would be invaluable for her and her team.
While making sales and getting members through the door was easy for her, her cancellation rate was far too high, making the scalability of her membership site seem impossible.
She was losing members rapidly, and with a constantly closed cart, she was forced to launch multiple times a year in order to keep her membership alive.
After working together, her first-month churn rate was down 20% π€©
From there, I realised there was a huge gap in the membership site and subscription market when it came to learning and implementing retention strategies. A gap that my experience uniquely qualified me to fill.
I worked with membership site owners from all different industries, from all over the world, to create a Framework that I now call my Member Milestones Framework.
My ethos is that, when it comes to subscription businesses, retention isn't just a "nice to have;" it's make or break.
β Your membership should create a community environment that people are so proud to be a part of, that it becomes a part of people's identity, making it hard for them to leave.
β Your membership should provide value in a way that is tailored to meet your members where they are, making your membership a must-have to solving their particular problem.
β Your membership should have automated systems and processes in place that mitigate the risk of cancellation as much as possible. When it comes to retention, an ounce of prevention is worth a pound of cure. Retention starts early!
β Your membership should actively be working on innovating, staying ahead of the curve, and constantly anticipating how to serve your customers better. Your member experience can no longer be an afterthought.
The Retention Club was created as a straightforward, step-by-step process to give you everything you need (from strategies to mindset to scripts) to help you skyrocket your membership retention using my Members Milestones Framework.
Who are the other memberships?
The Retention Club is fairly new, only a few months old, so our group is still small and intimate, which our members love. It allows me to be even more hands-on with what's happening in their membership sites, and offer them a superior level of support and feedback. I look forward to welcoming you into this epic group! Surrounding yourself with like-minded business owners who are focusing on the same objectives is only going to help you up-level in new and unexpected ways!
What to expect when you sign up
If you're ready to create a community of members who are genuinely proud to be a part of your membership, and consider it to be an integral part of their lives that they can't live without, The Retention Club is for you.
Over twelve months in The Retention Club, you'll not only learn exactly what you need to do to improve your retention rate, but it will be so much easier to implement with my step-by-step Member Milestones Framework. The templates and scripts you can lift and shift will remove the thought process, confusion and difficulty of improving your member experience.
If you're ready to put your member experience firmly on your team's priority list, join The Retention Club now. Let's get your membership set up for maximum revenue and success.
Caroline on
The Retention Club
"The Retention Club has given me so much clarity around my member offering. I know where my memberships strengths lie and where it needs some improvement. The trainings have been incredible so far, with so much information laid out in a super clear, easy to understand way. Liz is so knowledgeable and she has opened my eyes to things I didn't even know were possible. The Retention Club has already upped my membership game and I'm looking forward to continuing with the programme and improving my retention rates. I'd highly recommend you to sign up, it's one of the best things I've done for my membership. You won't regret it."
- Caroline Stevens, Founder of Self Raisers Membership