Membership Perks: Low Effort, High Value
Membership…that is, charging a listener monthly for bonus content…is a great way to make money with your podcast.
But you need to be cautious.
It’s tempting to offer a TON of bonuses to make the membership seem more valuable.
But what if no one…or even worse…ONE person…signed up.
If one person signs up, you’re on the hook for all of those extras.
Instead, take this approach:
First, test the waters. Ask your mailing list or listeners what they want to see more of. Don’t ask them if they would pay (most people will say yes to theoretical spending). Just ask what they want to see more of. Guage response. If no one responds, focus on building your audience first. But if a good number of people respond, it’s time to start thinking about your perks.
Start with low-hanging fruit. I like to call those things low effort, high reward. In my membership, it’s an extra 10-minute conversation with my guests that’s for members only. It’s removing ads.
It’s an extra video or episode. These are raw, but they are behind-the-scenes looks that only they get.
Come up with 2-3 of these perks that won’t take you a TON of time.
Then email the people who responded with a special price. If you want to price it at $6/mo, offer it to them at $5/mo for a limited time. Tell them you’ll even extend it to friends and coworkers. See how many people buy in. Then announce it to the world — your mailing list, on your podcast, on social media.
And make sure you deliver. Low effort and high reward perks make it easier for you to do that.
But you need to be cautious.
It’s tempting to offer a TON of bonuses to make the membership seem more valuable.
But what if no one…or even worse…ONE person…signed up.
If one person signs up, you’re on the hook for all of those extras.
Instead, take this approach:
First, test the waters. Ask your mailing list or listeners what they want to see more of. Don’t ask them if they would pay (most people will say yes to theoretical spending). Just ask what they want to see more of. Guage response. If no one responds, focus on building your audience first. But if a good number of people respond, it’s time to start thinking about your perks.
Start with low-hanging fruit. I like to call those things low effort, high reward. In my membership, it’s an extra 10-minute conversation with my guests that’s for members only. It’s removing ads.
It’s an extra video or episode. These are raw, but they are behind-the-scenes looks that only they get.
Come up with 2-3 of these perks that won’t take you a TON of time.
Then email the people who responded with a special price. If you want to price it at $6/mo, offer it to them at $5/mo for a limited time. Tell them you’ll even extend it to friends and coworkers. See how many people buy in. Then announce it to the world — your mailing list, on your podcast, on social media.
And make sure you deliver. Low effort and high reward perks make it easier for you to do that.
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