289 - Competing with Established Memberships in Your Market

01/19/21 • 41 min

1 Listener

Membership Geeks Podcast with Mike Morrison

Do you want to launch a membership, or have you launched already and now found that there are big, established competitors in your market?

Don’t panic. Your competitors may have a massive library of content, years and years of experience under their belt, or thousands of members, but don’t let that intimidate you.

Your size, your uniqueness, and your ability to zig when your competitors zag, gives you an edge – if you know how to take advantage of it.

In this episode, I share many tips on how to differentiate yourself from the competitors. From zeroing in on your specialty and niche to emphasizing your personal brand and offering a personalized service, these tips will help you get a share of that membership pie.

Essential Learning Points:

1. How understanding ‘why you exist’ can help you differentiate from your competitors

2. Why specializing and niching down on your topic and who you serve can help your positioning

3. The benefits of focusing on your personal side, embracing your underdog nature, and striving for quality

4. Why you should avoid getting wrapped up in competitor numbers and look for opportunities

5. What to avoid doing when dealing with competitors

Important Links & Mentions:

Key Quotes:

“If you can offer something that caters to a specific segment of your audience, then you are going to stand out and beat your competition every single time.”

“Don’t be intimidated by that established competitor with a library of content. It’s all about what value and what results you can deliver.”

“Don’t obsess about the fact your competitor has more members than you or that they have cornered a percentage of the market because, in all honesty, you only need a small percentage of the marketplace to succeed.”

Do you want to launch a membership, or have you launched already and now found that there are big, established competitors in your market?

Don’t panic. Your competitors may have a massive library of content, years and years of experience under their belt, or thousands of members, but don’t let that intimidate you.

Your size, your uniqueness, and your ability to zig when your competitors zag, gives you an edge – if you know how to take advantage of it.

Essential Learning Points:

1. How understanding ‘why you exist’ can help you differentiate from your competitors

2. Why specializing and niching down on your topic and who you serve can help your positioning

3. The benefits of focusing on your personal side, embracing your underdog nature, and striving for quality

4. Why you should avoid getting wrapped up in competitor numbers and look for opportunities

5. What to avoid doing when dealing with competitors

Important Links & Mentions:

Key Quotes:

“If you can offer something that caters to a specific segment of your audience, then you are going to stand out and beat your competition every single time.”

“Don’t be intimidated by that established competitor with a library of content. It’s all about what value and what results you can deliver.”

Previous Episode

288 - Using Instagram Stories to Promote Your Membership

Are you finding Instagram a frustrating platform to promote your membership?

Instagram is the one social channel where it is hard to add links to promote your content. But that doesn’t mean you should ignore it. As well as just using it as a content outlet to promote your blog, podcast, or video content, there are multiple ways Stories can be used to promote your membership business.

In this episode, we share 7 ways you can make the most out of Instagram Stories. From creating native content to utilising interactive Stories badges. We have lots of suggestions about how you can use Stories to showcase your social side and promote your business at the same time.

Essential Learning Points:

How to creatively use Instagram Stories to promote your membership
Ways to use native content on Stories to engage your members
The benefits of using Stories to show behind the scenes content
How you can use Stories to share social proof and brag about yourself
The benefits of features like the Stories countdown and question badges to promote your content and engage your audience

Important Links & Mentions:

Key Quotes:

“Instagram Stories has a lot of potential. But, you will have to be more creative to take advantage of it.”

“You can use Stories to brag about your members and to showcase them. By shining, a spotlight on your member’s successes will show a different dimension to your business.”

“Stories are great for getting existing members excited about what’s coming up and building connections, but also for enticing new members.”

Next Episode

290 - How to Create an Effective Membership Exit Survey

1 Recommendations

Do you have an effective membership exit survey in place?

It’s a depressing fact that no matter how hard you try, you cannot stop people from leaving your membership site. Cancellations are just par for the course in the membership game. But don’t despair, because there is one tool that can make all the difference and that all membership site owners should have in their arsenal – the exit survey.

In this episode, I explain why it is so important to have exit surveys in place, what 3 simple questions will give you the information you need to change that person’s mind as well as creating a last final plea page, and gathering valuable data that could improve your content and marketing strategy in the future.

Essential Learning Points:

Why exit surveys are so important for your membership site
What questions to ask on an exit survey
What to do with that information once you have collected it
How to use the survey answers to create conditional messaging and a final plea page
Why it is so important to keep your exit surveys simple

Important Links & Mentions:

The Membership Academy
The Membership Academy – Enhancing Your Membership Site with Gravity Forms course

Key Quotes:

“A membership exit survey is a critical tool in the arsenal of every single membership site owner.”

“An exit survey is a great way to look at what changes you can make to improve the retention of the members you still have.”

“If you can show people conditional messaging related to the reasons they’re leaving, then that enables you to make a relevant and very specific final plea to that member.”