Mike Morrison | Membership Business Model that Converts
If you are in the online business scene for any amount of time, I think you might notice one of the hot topics recently is about membership-based business.
It reminds me of my former corporate life as Director of Membership in Asia years back for a prestigious membership business club. We had a spa, 7 outlets of restaurants, gym, squash courts, etc. Basically, it’s like a Ritz-Carlton hotel, just without accommodation. I was their 1st staff member, started from marketing research to hiring and managing a team, witnessed the building went up, sold, launched, and served over 1000 members in less than 6 months. It was a super intense and fun project. So you can say that I have experienced membership-based business first hand beyond the digital world.
I get asked quite often about membership-based business by my clients, and as I have been planning for my coming membership site to serve a larger audience, I want to make sure I get the best expert to share the knowledge with you.
I think I did! My guest for today is my good friend Mike Morrison, one half of The Membership Guys. Mike and his partner Callie Willows have spent years guiding the growth of membership websites, e-learning businesses, and online communities, helping clients to attract hundreds of thousands of members and generate millions of dollars in revenue. These clients include one of my business mentors: Chris Ducker.
Warning: In this gem-packed interview, Mike didn’t hold back a bit! It’s like a mini training course on its own, so do take out your pen and notepad. If you are driving or working out, you’d have to re-listen again to take notes. YES, it’s that good!
Now, let’s chat with Mike!
Key Lessons From This Episode:
- What’s membership based business?
- 2 common mistakes to avoid when building up a membership-based business
- The reality of membership retention rate and the specific tips of how to boost it up
- The right mindset in operating membership based business to own the long term prosperity
- Main benefits of membership based business
- Pricing strategy for membership business in different categories
- 3 top tips to run a successful membership business
Important Links & Mentions in this episode:
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