Membership Site Retention Rates by:Matt Bacak
What is the average expected retention rate of membership sites and how can you get people to stay members?
There's no such thing as a blanket statement here. But typically what you're going to see is your largest drop-off within the first month. Between the second month and third month, it's going to pretty much start tapering off.
Membership sites are great things. You're going to find that it's just like having a list. People are going to come in, they're going to love it or they're going to hate it, and you're going to have people that are going to get off really quickly. You're going to have people that are going to fall in love with it really quickly. You're going to have some people that are just suspects and they're going to either leave or stay after a couple of months. So within the first three months, you're going to discover what you have to start building your base.
Another thing to remember is, you're managing numbers. You don't want to get emotionally attached to your numbers, but you also want to look at determining what your member base is. So, if you get 1,000 people signed up, you're most likely going to be down to 700 after the third month as an example. Now what you know is you wanted to keep your income level at a certain level. And it this means the 1,000 mark, you'll have to try to keep your numbers up in order to do that. So what you've got to do is figure out what your drop-off rate is and every month your goal is to get more new members to maintain that level. That's really what you're doing is managing these numbers.
What are some ways you can work to retain members on the site after they sign up?"
There are multiple things you can do to retain your members after they sign up. But one thing I always say that you've got to send them is love. What I'm talking about is giving them things, giving them surprise gifts and sharing with them to get them to know you a little bit better. Running some contests is another thing you can do as well as creating a customer loyalty program. This will really help you to maintain and retain these customers.
Another thing you could do is run special webinars or teleseminars for those individuals to get to know them and to answer their questions specifically for them. Anything you can do to keep the people plugged in is a great thing to make happen. So, if you could do a special event, whether it's a teleseminar, webinar, or a real seminar, that's a great thing you can do with your customers to keep the membership base going. You've got to think about maintaining and retaining your customers because getting the members, like I always say, is only half the battle, you've got to keep them hooked so they'll stay longer. Send them free gifts in their email. Give them surprise bonuses. Give them great information. Things like that will really help in retaining your audience.
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