The Secret to Generating Recurring Revenue with Bjork Ostrom

09/19/24 • 36 min

The power of recurring revenue and breaking down key metrics for running a membership site with Bjork Ostrom

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Welcome to episode 480 of The Food Blogger Pro Podcast! This week, we’re excited to air the second episode of our mini-series with Memberful, in which Bjork discusses the ins and outs of membership sites and the power of recurring revenue.

The Secret to Generating Recurring Revenue with Bjork Ostrom

Tired of chasing after millions of followers? In this week’s podcast, Bjork spills the beans on how you can build a thriving business with just a small but dedicated community. He discusses the power of recurring revenue and how that can translate into stability for your business. He also breaks down some key business metrics that can help you track your progress and make smart decisions.

Let’s face it: Building a sustainable business isn’t about getting everyone on board. It’s about finding your tribe and serving them really well. This episode is a must-listen if you’re looking to grow your business in a more sustainable way!

Three episode takeaways:

You Don’t Need Millions of Followers: It’s a common misconception that you need millions of followers or subscribers to build a successful and profitable business. The reality is that even a small, dedicated community can be enough! By focusing on quality over quantity and building strong relationships with your audience, you can create a sustainable income stream that allows you to thrive.

Recurring Revenue is Key to Stability: One of the biggest advantages of membership sites is the predictable income they generate through subscription fees. This recurring revenue provides a stable foundation for your business, allowing you to focus on growth and improvement without constantly chasing new opportunities. Unlike one-time sales or advertising revenue, which can fluctuate, membership fees offer a reliable source of income.

Understand Your Business Metrics: To make informed decisions and evaluate the health of your business, it’s essential to track key metrics such as MRR (Monthly Recurring Revenue), churn rate, customer lifetime value, and customer acquisition cost. These metrics can help you understand your business’s performance, identify areas for improvement, and make strategic decisions.

Resources:

Thank you to our sponsor!

This episode is sponsored by Memberful. Learn more about our sponsors at foodbloggerpro.com/sponsors.

Interested in working with us too? Learn more about our sponsorship opportunities and how to get started here.

If you have any comments, questions, or suggestions for interviews, be sure to email them to [email protected].

Learn more about joining the Food Blogger Pro community at foodbloggerpro.com/membership.

The power of recurring revenue and breaking down key metrics for running a membership site with Bjork Ostrom

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The Secret to Generating Recurring Revenue with Bjork Ostrom

Three episode takeaways:

Resources:

Thank you to our sponsor!

This episode is sponsored by Memberful. Learn more about our sponsors at foodbloggerpro.com/sponsors.

Interested in working with us too? Learn more about our sponsorship opportunities and how to get started here.

If you have any comments, questions, or suggestions for interviews, be sure to email them to [email protected].

Learn more about joining the Food Blogger Pro community at foodbloggerpro.com/membership.

Previous Episode

The Art of Cookbook Publishing with Danielle Walker

Publishing a cookbook, fostering a community, and creating a work-life balance with Danielle Walker

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Welcome to episode 479 of The Food Blogger Pro Podcast! This week on the podcast, Bjork interviews Danielle Walker.

The Art of Cookbook Publishing with Danielle Walker

Danielle’s journey to becoming a cookbook author is anything but ordinary! From a chance encounter with a publisher to releasing her seventh (!!!) cookbook, “Make It Easy,” she’s learned so many valuable lessons along the way that have propelled her into the successful cookbook author she is today.

In this episode, Danielle shares her insights on building a strong community, understanding your audience, and prioritizing mental health and work-life balance. You’ll discover how these strategies have helped her create successful cookbooks and maintain a fulfilling career. For aspiring cookbook authors and anyone looking to build a successful online community, this episode is for you!

In this episode, you’ll learn:

The unconventional path to cookbook publishing: Early on in her journey, Danielle had a publisher reach out to her to work on a cookbook, and this unexpected opportunity led her to the world of cookbook writing. She’s learned so much along the way and shares some valuable lessons from her early experiences in this episode — from the necessity of advance payments to the importance of hiring an agent.
The importance of building a community: Danielle used Kajabi and Substack to connect more deeply with her audience and gather valuable feedback for her cookbook. By fostering a sense of community, she was able to better understand her readers’ needs and preferences and shape the content she created for them.
Prioritizing mental health and work-life balance: Danielle discusses how important it was for her to take a step back to reevaluate her work to ensure she brought value to her community and have a better relationship with her work. You’ll learn about how she’s been able to find a healthy balance between her professional and personal life — no easy feat!

Resources:

Thank you to our sponsors!

This episode is sponsored by Yoast and Raptive. Learn more about our sponsors at foodbloggerpro.com/sponsors.

Interested in working with us too? Learn more about our sponsorship opportunities and how to get started here.

If you have any comments, questions, or suggestions for interviews, be sure to email them to [email protected].

Learn more about joining the Food Blogger Pro community at foodbloggerpro.com/membership.

Next Episode

Maximizing the Impact of Your Email List with Nathan Barry from Kit

Leveraging email lists, boosting revenue, and building relationships with Nathan Barry.

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Welcome to episode 481 of The Food Blogger Pro Podcast! This week on the podcast, Bjork interviews Nathan Barry from ConvertKit, soon-to-be Kit.

Maximizing the Impact of Your Email List

Nathan Barry started ConvertKit back in 2013 and has grown his company into a multi-million dollar business with over 30,000 creators that use the platform. We are happy to welcome Nathan back to the podcast to chat about how he has grown his business, email marketing strategy, and the transition from ConvertKit to Kit.

As algorithms change and search traffic becomes increasingly unpredictable, it’s a great time to double down on your email list. Capturing your audience from both site traffic and your social accounts and building an ongoing relationship with that audience is a great way to diversify your income streams and protect the future of your business. This podcast episode dives into the importance of optimizing your emails for the reader, consistency, and driving revenue with your emails.

Three episode takeaways:

Strategies for Increasing Email List Sign-ups: When something goes viral on social media, how do you make sure you’re capturing that audience? Nathan and Bjork discuss the importance of optimizing links in your social media profiles, lead magnets, and other tips for growing your email list.
How Your Email List Can Increase Your Revenue: With the (slow) demise of third-party cookies, creators need to be more... creative with providing more relevant ads to their readers. If you’re working with an ad network, your email list can be an incredibly valuable resource for serving targeted ads to your users (thereby maximizing your ad revenue).
The Magic of Flywheels: Nathan explains how and why to apply the concept of flywheels, which emphasizes attracting, engaging, and delighting your community, to your business. He also makes a case for why you should focus on repeating what is working for your business (rather than chasing the next new thing).

Resources:

ConvertKit
NathanBarry.com
Follow Nathan on X
Raptive
The Elliott Homestead
The Flexible Dieting Lifestyle
Bonnie Christine
Jenna Kutcher’s Instagram post
Mediavine
Clariti
Kit
Kit Studios
Join the Food Blogger Pro Podcast Facebook Group

This episode is sponsored by Member Kitchens and Raptive. Learn more about our sponsors at foodbloggerpro.com/sponsors.

Interested in working with us too? Learn more about our sponsorship opportunities and how to get started at foodbloggerpro.com/work-with-us.

If you have any comments, questions, or suggestions for interviews, be sure to email them to [email protected].

Learn more about joining the Food Blogger Pro community at foodbloggerpro.com/membership.

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