I just came off a live (last minute) webinar with Russell Brunson. In this FB live event he shared his latest money making strategies to create compounding continuity from membership sites. In this blog post I’m going to share what I learnt in the FB live event so you can consider these strategies in your online business.
Compounding Continuity is income generated from online subscription or membership programs. Or other forms of income that are recurring.
Russell Brunson talks about how this is the best feeling. To wake up in the morning and know that you have a stable ongoing income…. making a recurring income even while you are asleep.
This type of business model isn’t new, but it is becoming more common because of the lucrative benefits. Even eCommerce giants like Amazon (Amazon Prime) and Walmart (Walmart Plus) have integrated membership programs for their online stores. In particular, Amazon Prime is now a core part of Amazon and generates over $35 Billion in revenue for the Amazon business.
During the webinar, Russell shared HOW to INCREASE Compounding Continuity with a membership program. He talks through a simple 5 step strategy to boost memberships to your program.
Imagine you have 100 members paying you $100/month. That’s 10,000/month! This income potential is not only achievable, but it’s also sustainable.
With online membership programs, you can create certainty and stability. An income with long term security. Once you’ve built your membership program and have converting funnels for new members, then:
The idea of taking your product and creating a membership program is what Russell refers to as resetting the hook!
If you haven’t already done this, then recurring income is THE thing you need to be thinking about incorporating as an income stream.
There are several software platforms that manage online memberships. Two of the best platforms for this are ClickFunnels (owned by Russell Brunson) and Kartra. Both platforms help you with the following:
Want to learn more? We have several Hustle Life articles covering both of these all-in-one sales funnel platforms.
In the live webinar, I learned about the Membership Site Kickstart. This is introduced as the ideal campaign to get new members FAST.
All it takes is 5 actions in 5 days…. That’s it!
If you do the five things, then you’ll have the right framework to:
So, the 5 Things in 5 Days campaign involves 4 emails and 1 webinar. I’ve broken down each step below:
DAY 1 Email: The Diamond in The Rough: What’s the most interesting or most important thing your members can learn or gain? Go back to the core principles of Perfect Webinar and The Stack.
But on Day 1 you don’t reveal this right away. Instead, you talk about it…. talk around the subject of the really cool thing. So that it piques their interest.
DAY 2 Email: Share The strategy: Now you reveal the diamond and build the excitement. ‘Want to drop 5kg in 30 days without cutting carbs.’
You also need to share your webinar link with dates and times.
DAY 3: Share The Result: Consider the results and benefits of the diamond that might not be immediately obvious. ‘What you don’t even understand is that you can do this and NOT gain the weight back!’
Include your webinar link with dates and times.
DAY 4: Reminder Email: This is important. Not everyone is going to act at step 3. Some people need more warming up.
The reminder email could increase your webinar attendance by 20% or more. To illustrate this point, Russell Brunson shared that 2300 people registered for the live event but then after sending out the day 4 reminder email, another 1500 people registered!
Again, include your webinar link with dates and times.
Day 5: You do the webinar!
The HOW (tactics) is only for members AND you give everyone attending the webinar the chance to join as a member RIGHT NOW and learn HOW to achieve or get the thing that you can teach them. You have to create a sense of urgency by doing the following:
When I get a spare hour or so, I’ll create and upload a FREE tool so that you can copy and paste the email scripts for your own membership webinar. Watch this space.
The Membership Site Kickstart is designed to drive people to make a decision right now and get a higher conversion of signups to your membership program.
Remember. Not every member will stick. The majority of drop-offs in members is at the 2-month point. But if you’re genuinely selling a product or service that people need or want, then you’ll build members that stick around for months or years…. this is the ultimate goal.
If you’re interested in understanding more about how to get customers to stick, you can learn more about continuity programs at Funnel Hacking Live 2023!
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Matthew Carter is our Hustle Life funnel building go-to-guy. His expertise across Kartra, ClickFunnels, and Leadpages has proven to be an invaluable resource!
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