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The Membership Guys Podcast with Mike Morrison

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Join Mike Morrison from The Membership Guys for advice, tips and insight on planning, running and growing a successful membership website

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Recent Episodes

From The Vault: Creating an MVP to Test and Validate Your Membership Idea
If you have a great idea for a membership, you need to validate whether or not it’s destined to fail or succeed. Like Rome, the world’s leading membership sites weren’t built in a day. They started as an idea in someone’s mind, which was nurtured, tested and validated until there was undeniable proof the idea was a winning concept. When you’re excited about an idea for a membership, it’s easy to let your bias belief that your idea is gold get in the way of reality. This frame of mind can give you a false sense of security and cause you to invest everything in an idea that will never get off the ground. Before you pursue your membership idea, you need to test and validate it with an MVP. This will help you to discover whether your idea has true potential or not. In this episode, I reveal the importance of using an MVP to test and validate your membership idea and how to create one. Episode Summary: What an MVP is and how it will validate the potential success of your membership idea The characteristics of an effective MVP An insight into the six main types of an MVP as they relate to membership sites How to know what type of MVP will work best for testing your specific membership idea Why you should still use an MVP to test your new membership idea despite already selling products or services successfully Key Quotes: “A good MVP should solve a problem or deliver an outcome that's either the same or similar to that of your membership.”  “An MVP is a minimum viable product, something that you offer to your market that is a relative representation of your membership with just enough features. It’s the bare minimum that you need to be able to put it out there and try and get people to buy or register interest.” Thank You For Listening We really appreciate you choosing to listen to us and for supporting the podcast. If you enjoyed today's show, please share it using the social media buttons on this page. We would also be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show in Apple Podcasts. They're extremely helpful when it comes to reaching our audience and we read each and every one personally! Finally, don't forget to subscribe to the podcast in Apple Podcasts to make sure that you never miss an episode.  
From The Vault: How Much Should I Charge For My Membership Website
Deciding how much you should charge for your membership site is one of the most important decisions you’ll make. Charge too little and you risk losing out and making no profit. On the other hand, if you charge too much, there’s a chance nobody will be able to afford your membership. So, how much should you charge? Unfortunately, there’s no one-size fits all approach when it comes to pricing your membership. But there are four key areas to look at to help you land on a price that you and your members are happy with. Tune in to hear what they are and discover a few helpful tips when it comes to defining your membership pricing strategy. Episode Summary: Why you need to know your cost of member acquisition How to make sure your membership site is profitable and sustainable How to move the focus away from the price of your membership and towards the value of your site instead Considering your competitors when working out what to charge Why you need to consider the profile and financial situation of your audience A general rule of thumb for B2B and B2C membership prices Mentioned in this episode: Membership Academy Membership Mastermind Facebook Group Key Quotes: “Above all else, your membership site needs to be profitable. If you're not making money, you're not going to last long. And the business that doesn't make money isn't a business. It's a hobby.” “Your members should be getting so much value from your site that they don't ever question whether it's worth paying the $50 a month or whatever you charge. “Do not compete on price. Competing on price very quickly becomes a race to the bottom. No matter how cheap you are, there is always someone who will undercut you. Remember, your membership needs to be profitable, don't price yourself out of business.” Thank You For Listening We really appreciate you choosing to listen to us and for supporting the podcast. If you enjoyed today's show, please share it using the social media buttons on this page. We would also be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show in Apple Podcasts. They're extremely helpful when it comes to reaching our audience and we read each and every one personally! Finally, don't forget to subscribe to the podcast in Apple Podcasts to make sure that you never miss an episode.
From The Vault: 4 Key Differences Between B2C and B2B Membership Sites
Have you ever wondered what the main differences are between B2B memberships and B2C memberships? When it comes to membership sites, most of the strategies that we talk about on the podcast and inside the Membership Academy can be applied to pretty much any niche or market. But, there are a few key differences to look out for between a B2B membership and a B2C membership. These differences are important because they can potentially impact how you approach your strategy, marketing, and even your mindset when it comes to your membership site. Dive into this episode of The Membership Guys Podcast to hear what those key differences are and how you can use that knowledge to plan your membership content accordingly. Episode Summary: How vast the range of potential impact your membership can have with a B2C market vs. B2B The importance of assessing where you fit on the scale - between something that’s seen as a hobby and something potentially life-changing How attitudes towards cost and affordability vary between B2B and B2C members Adjusting expectations when it comes to how much time your members can afford to give to your membership site Why you need to consider the level of exposure your market has to advertising, sales and marketing tactics Key Quotes: “The scale of how important your membership is and how much of an impact it can make is usually going to be far broader with a B2C membership.” “While there is no one size fits all approach to pricing and there’s certainly not a set industry average, you'll often find in terms of monthly payments, that a B2C membership will fall somewhere between $15 to maybe $35, or $40. Whereas B2B memberships usually around the $30 to $60 mark.” “It’s down to you to find ways that you can deliver value and deliver results without demanding a lot of your members time, you need to make it convenient for them to use your membership.” Thank You For Listening We really appreciate you choosing to listen to us and for supporting the podcast. If you enjoyed today's show, please share it using the social media buttons on this page. We would also be eternally grateful if you would consider taking a minute or two to leave an honest review and rating for the show in Apple Podcasts. They're extremely helpful when it comes to reaching our audience and we read each and every one personally! Finally, don't forget to subscribe to the podcast in iTunes to make sure that you never miss an episode.
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Podcast Details
Started
Jul 23rd, 2015
Latest Episode
Sep 10th, 2019
Release Period
Weekly
No. of Episodes
220
Avg. Episode Length
26 minutes
Explicit
No

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