Recurring revenue sounds like magic, right? The idea that you only have to market to someone once and they will continue to pay you month after month. Pretty fantastic! However, the reality is that you still need to market to your members and keep them engaged in order to retain them. In this episode, Laura shares her experiences and lessons learned from running a membership for nine years. She discusses the concept of recurring revenue and the importance of realistic expectations and mindset when it comes to member retention. She also offers advice on starting small and building up, testing new ideas, and the use of free trials. If you're considering starting a membership or looking to improve an existing one, hit play and learn how recurring revenue can be a powerful tool for growing your business and making a positive impact on your members' lives!

Key Topics:

• (02:55) Debunking myths of effortless recurring revenue in memberships
• (08:25) Rethinking metrics: growth over retention
• (11:15) Adding new features instead of taking away
• (13:45) Balancing marketing promises with membership fulfillment realities
• (15:15) Testing member engagement with limited-time content offerings
• (17:30) Prioritizing current members
• (20:00) The importance of knowing your membership numbers
• (22:20) Strategies for enhancing membership retention and engagement

Mentioned in the Episode:

The Membership Guy

GOHQ Insiders

Memberpress on Wordpress

Connect with Laura:

Getprofitablehq.com

Getprofitablehq.com/the-profit-posse

Welcome to Part 2 of a highly requested topic - creating physical products! In this episode, Laura shares her experience with the manufacturing and fulfillment process of creating physical products, specifically day-planners. She discusses the decision to manufacture overseas, the challenges of finding a factory in the US, and the process of working with a factory in China. She also talks about packaging and the overall customer experience, as well as the pros and cons of fulfilling orders yourself versus using a fulfillment center. If you're thinking about adding physical products to your business, this episode is full of advice that'll hopefully make the process a little smoother!

Key Topics:

• (01:30) Deciding between domestic and overseas production
• (08:00) Elevating the unboxing experience
• (11:35) The expense of a product sample
• (14:00) The anxiety of international wire transfers
• (17:10) International shipping and customs challenges
• (20:45) Choosing between self-fulfillment and fulfillment centers
• (24:25) Logistical challenges of home delivery for large shipments
• (27:20) Listening to what your audience wants

Connect with Laura:

Getprofitablehq.com

Getprofitablehq.com/the-profit-posse

Thinking about adding physical products to your business? Don't be intimidated! In this episode, Laura shares all the fun ways you can sell physical products, whether on their own or to enhance digital products with a physical component. She gets real about the pros and cons of venturing into selling physical products and emphasizes the importance of considering scalability and upfront costs. Laura also shares her own experience of selling handmade goods on Etsy and the strategic decision to transition to mass-produced products. From standing out in the market to attracting new customers, there's so much to gain from incorporating physical products into your business!

Key Topics:

• (02:40) Ways you can use physical products in your business
• (04:15) Pros and cons of selling physical products
• (10:45) Laura’s journey of launching and selling products
• (13:10) Evolving from handmade goods to digital products
• (15:15) Finding a need in the market and creating products for it
• (16:40) Sourcing a planner; hiring her brother to assist with the job

Connect with Laura:

Getprofitablehq.com

Getprofitablehq.com/the-profit-posse