Here is a quick Periscope interview with Chris Farrell, the father of membership sites.
Casey: So, why membership? Why did you decide to do that?
Chris: Thanks for inviting me. Membership sites are the best business model out there. I know that’s a grand thing to say, but that’s because they tap into the power of recurring income. You often hear business owners say they need more costumers, but you rarely hear them exploring the opportunity for their customers to make repeat transactions. The great thing about a membership website is that you aren’t making a one-time sale. These sites take away the need to make continuous sales.
Casey: My concern when I started was that people might fall off if I did a monthly membership.
Chris: Yes, people can and will fall off, so you need to go into that knowing this. If we really do care about our members, what happens is we create this relationship. What I’ve learned is that people will join for the content and stay for the community. It’s a fundamental human quality, we all like to feel like we belong to something. So if we can make people feel that way, it will encourage people to stay. What most businesses will do is focus on getting new sales, but what’s rare is hearing them ask how they can really fall in love with their customers and engage with them. In doing that, your customer will do your marketing for you. Caring is the new currency and if you care about people, a membership site can be a great income.
Casey Super Tip: A key to content is that less is more. Don’t overwhelm your members with content, but offer a small number of main pieces of information and let the rest be supplementary.
Watch entire Periscope replay below: