what to charge for a membership program from your business. www.iammichellegifford.com

3 Reasons Why You Should Have a Membership in Your Business

Jun 15, 2021

3 Reasons Why You Should Have a Membership in Your Business

Do you have a membership program for your business? Are you thinking about adding one, but not sure where to start? Here are my 3 reasons why you should have a membership in your business. If you listen to the full podcast episode you’ll get more tips on how to start one (including how much to charge and the content you should use)! 

 

 

I created my membership program just over a year ago, right after the pandemic hit. I was nervous about launching it in the middle of the pandemic, but I’m so glad I did! This just goes to show that things work out (most of the time) as you keep moving forward. Things just kind of fell into place for me to launch it when I did, so I didn’t want to pass up on that opportunity.

My membership program is my Money Makers group. I have a little over 150 biz sisters now and we talk every day. I give daily training, master classes, live Q & A’s and more. I use the Channels app for my program, and it is perfect for it! 

I love the Channels app because it keeps me away from Facebook. I’ve tried Facebook groups before for membership type things and it just didn’t work for me. I would get distracted, get lost in the comments, and feel a lack of control of what I really wanted to happen. 

Maybe Facebook groups work for you, and that’s great, but if you want to try a space where you are organized, in control, and focused on your goals, give Channels a try! The Channels team is hosting a free webinar on June 22nd where you can learn more about what they offer you. 

 

3 Reasons Why You Should Have a Membership in Your Business

 

why i love having a membership program for my business. www.iammichellegifford.com

 

Reason #1: Consistent Income

When you run your own business, it’s hard to know how much money to count on each month. You could have an amazing month of sales and then hardly have any. There’s no sure way to fix this part of business, but there is a way to ensure consistent income. 

Having a membership in your business makes it so you know your monthly minimum income. This is because people will join your membership for a fee and depending on how many people sign up, that’s how much money you can expect. 

How much do you charge, you ask? I’ll answer with an example:

A general stat is that 1-3 percent of your audience will buy. Therefore, if you have an audience of 1 thousand people, you can expect 20-30 of them to buy your membership. Let’s say you will charge people $10 per month for their membership. With a quick math problem, now you know you will make at least $200-$300 per month.  

Figuring out these numbers will help you know three things:

  1. When to launch a membership program
  2. How much to charge
  3. How many people you want to sign up for it to be worth it

If you have a smaller audience right now, maybe increasing your audience is what you focus on first. Then, launching a membership program once you have more numbers. However, you will see the overwhelming benefits once launching a membership program!

 

How a membership will give you a steady income for your business. www.iammichellegifford.com

 

Reason #2: Deepens Audience Relationship

I’ve gotten to know so many of my people through my Money Makers program and I absolutely LOVE it! Now, I can really start to solve their problems. The more I get to know them the better I know how to serve them. 

Like I mentioned earlier, I use the Channels app for my Money Makers group, so there are a lot of videos going back and forth. This is our main way of communicating with each other, which I think brings us even closer together. We aren’t just reading a comment left on Instagram or watching a 30 second reel–we are having a real conversation back and forth with the people who GET IT. 

The way the program is set up plays a huge role in deepening my relationship with my audience. My biz sisters see me and talk to me in a way that is not available through my Instagram feed or any other place. 

Channels is the app to use if you want a strong relationship with your audience! If you feel like your program offered wouldn’t really work well with this kind of app, there are plenty of other resources out there to help.

 

Join my coaching group for a limited time. www.iammichellegifford.com

 

Reason #3: Strengthens Community

Not only does my membership program strengthen my relationship with my audience, but it strengthens the relationships between my members. My biz sisters are able to chat back and forth and create connections and collaborations that are long lasting. This benefit is perfect for any business, especially if you are just starting out! 

You want your community to be strong and that comes by interacting with each other and finding more of their people. We are all in this together, so the more opportunity you provide to your audience to make connections, the better all of you will be.

 

tips and tricks to adding a membership to your business. www.iammichellegifford.com

 

What it Really Takes to Add a Membership to your Business

Did I convince you with my 3 reasons why you should have a membership for your business? You are the boss of your biz, so only you will know when the best time to launch your membership program. All I’m saying is if it’s fear holding you back, just feel the fear and then do it anyway! 

You do not have to do business alone. If you want some support while creating and launching a membership program, join my Money Makers group! We seriously have so much fun and we would ALL love to have you. If you were to ask any one of my money makers sisters, they would say this is one of the best investments they have made for their business. 

Also, don’t miss out on the free webinar Channels is hosting on June 22nd. You can text “channels” to 951.309.7885 to get more info! And as always, follow me on Instagram @iammichellegifford for the latest tips and tricks on having a built to last business!

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