FanInviter Review – The World’s First Mass Liker Converter
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Retention
– This is the average time your customers stick around for. It could be 3days
it could be 3 years. Of course the longer the time the more profitable your
membership sitewill be.Over the the 3 years that I have been running my
membership site I have found that to make peoplestay for longer you need to
have a system that makes them want to stay for longer. One of thepopular ways
is to create some type of forum so that people can ask questions and be part of
faninviter review.
As
much as that does help it wasn't something I was prepared to do because it
doessuck up a lot of your time just hanging around in the forum answering
questions.Instead what I focused on was to give them access to more and more
products and content thelonger they stayed. This is known as “drip feeding
content” This really helps with increasing yourretention so make sure what ever
membership script you use and choose it has this feature otherwiseyou are going
to really struggle. We will cover more about drip feeding below. 9.
Drip
feeding – You now understand the importance of retention and how dripfeeding
can drastically help to improve it.The actual drip feeding feature is super
powerful if used right. Instead of telling you what to do andwhat not to do I
will explain what I do on my site.At the time of writing this faninviter review I have
over 200 step by step video tutorials and lots of mind mapsand pdf's as well.To
help increase my retention I give new members access to around 105 videos as
soon as they joinwhich they pay just $1 for a 7 day trial.
Around
80 videos of those are from actual products that Istill sell online and the
remaining 25+ videos are other videos that I have created just for themembers
area covering some other topics.This may sound like a lot of content that I
give away for just $1 and yes it is however there is somuch information to go
through that most people end up staying after the 7 days is up and payingthe
first monthly subscription of $17 or $27.So, over 100+ videos are available
from day 1 and then day 2 another couple of products areunlocked.
For
the first month they have access to over 120 videos.Then what happens is I
unlock new products each and every month. Usually between 2 – 4 newproducts per
month over the next 6 – 9 months.The incentive is if they stay they will
continue to get new products month after month.This is the way I have been
doing things and it works really well. 10.
Monthly
fee – The price that you charge per month is very important because if it'stoo
high no one is going to join but if it's too low you could be wasting your time
and end up devaluing the content within your site so it's a thin line.The price
often depends on how much content you have in your site so you need to price
itaccordingly.
A
good price to start with is $9 per month as long as you have a half decent
amount ofcontent and it can't be consumed very quickly. It may not sound like
much but as you build yourmembers up and as you add more and more content and
products you can then re-evaluate yourposition in maybe 3 months time and
increase your prices.I
personally
started at $9 per month when I had a few dozen videos in the site then I
increased it to$17 per month when I got to over 100 videos.Once I hit over 200+
videos and around 20+ products I increased the price to $27 per month butoften
do special deals where I still offer $17 per month.The bottom line is charge
WHAT YOU WANT and test different price points to see what works bestfor you.
All
niches are slightly different and different faninviter review and markets will react
differently todifferent price points based on the pricing that they have
already been conditioned to paying in theirparticular niche already.You also
need to think about that if you had say a target of $3000 per month from a
membership sitethen that is 300 active members paying $10 per month.
Or
it could be 100 members paying youaround $27 per month or just 45 members
paying you $47 per month.It really is a numbers game so test things and see
what works for you.The numbers I give you hear are a great bench mark to start
things from and then you can tweakthings as you go. 11.
7
day Trial for $1 – From day one I have been building my membership siteusing a
$1 trial. However the first strategy I used was I made the trial last for just
24 hours. Thiswas quite effective at first and worked well but after doing a
lot of testing I felt like people neededmore time to really see the value that
I had in my site.Early part of last year (2014) I decided to change the trial
from 24 hours to 7 days.
The
retentionslightly increased and made my site more profitable so this is where I
am at right now.So..doing a $1 trial for 7 days certainly works well but ONLY if
you have a fair bit of informationin your site because otherwise your customers
will just end paying $1 and get access to most ofyour content and then
un-subscribe again before they get billed the $17 etc after the trial is
up.Also another thing to remember is never give them access to all of your
content within the trialperiod.
You
MUST keep some of your premium content back for those that decide to stay and
paytheir first subscription payment.If you give away too much content on the
trial period then people will have no reason to stay longerthan the 7 days.
This is why you need to price everything and structure everything according to
how much content you have to give away on your site.
Every
membership site is slightly different so justalways be aware of everything that
I have said above. 12. $1 downsell – This is by far the most effective way to
build new members into yourmembership site or at least this is what I have
found anyway. The way this works is you have a pagewhere you send people to
where they can join your membership site. I use a simple page which I create
using optimize press.
It
has a simple video with a buy button underneath and that is pretty much it.Once
you have your $1 downsell page created you can then plug it into any type of
campaign thatyou want and because the cost is only $1 the risk is very low so
conversions are often quite good. 13. Product launches – This brings us onto
using product launches to build yourmembership site even bigger.
This
is the ideal time to use your $1 downsell. Every time you releasesome new
training or a new information product online you can plug in your $1 downsell
sales pageas a downsell. I have been using this strategy for over 18 months and
it works like gangbusters. 14.
Email
follow ups – Another great way to build your membership site is to buildan
email list and then promote your $1 trial within your email sequence. Set up a
squeeze pagegiving away a free gift as normal and then send them to a basic
sales page for your membership siteafter they have opted in. If they buy then
great if they don't then you follow up with them over thenext few weeks
promoting your $1 trial.The risk is very low so again, conversions will
generally be pretty good even though it is a mothlysubscription. 15.
Lifetime
membership – This is something that is a complete no-brainer. Allyou do is set
up a lifetime membership page on your site. It's very simple to do and some of
yourcustomers will pay it. I always get a few people a month buy it so make
sure you have this option.You do need to price it accordingly though.
I
roughly work it out so the lifetime membership oneoff payment equals to around
12 months worth of monthly payments in your membership site. Here is my
lifetime membership page so you can get some ideas for yourself. 16. Lifetime
customer value – If there was just one thing that you could takeaway from this
report it would have to be what I'm now going to tell you about lifetime
customervalue.This is by far the most powerful data you will ever have access
to when it comes to yourmembership site.
After
all everything comes down to profits and in order to be able to guage howmuch
money you can make or are making you need the right data available to you. This
is wherelifetime customer value comes in.When somebody joins your membership
site you need a way to track how much money they spendand how long they stay
for and the lifetime customer value is by far the most powerful feature atyour
disposal.Once you know the lifetime customer value of your average customer you
can then plan out your marketing and traffic campaigns accordingly.
If you
know that each customer you generate intoyour membership site is going to spend
on average $10 then you know that every new person youget into your site needs
to cost you less than $10 otherwise you are going to go out of business.If you
can get a new customer at just $3 then for every customer you generate you are
going tomake $7 per customer in pure profit.
It
doesn't sound like a lot but when you scale these numbers upit soon makes a
difference.On my site my lifetime customer value is around $18 - $19 at the
moment and my retention rate isaround 46 days.So I know that every single
person that joins my membership site for just $1 I'm going to make $18- $19
back from them over the course of their stay.Knowing this if I went out and
generated 10 new customers per day into my membership site Iwould be making $17
x 10 = $170 per day.I
then
need to make sure that what it costs me to generate those 10 customers per day
costs a lot lessthan $170. This is where it gets interesting.
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