381 - Do's and Don'ts of Member Retention
In this episode of Membership Geeks, I discuss the essential do's and don'ts of member retention.
I dive into the importance of making retention a priority, taking care of new member onboarding, and collecting feedback from outgoing members. I also highlight the risks of assuming that when someone leaves, they're gone forever and the benefits of having a failed payment process in place.
In this episode:
- Why is it important to make member retention a priority?
- How can we ensure a solid new member onboarding experience?
- What are the risks of assuming someone is happy just because they haven't cancelled?
- How can collecting feedback from outgoing members benefit our membership offering and win back campaigns?
Key Quotes & Takeaways:
"When you realize that someone leaving isn't the end of their journey, then that nullifies any reasoning you might have for making things difficult for them to leave or punishing them when they do leave."
"Failed payments account for a lot of churn. It's called involuntary churn. Someone leaving your membership when they might not have intended to because their credit card payment, their PayPal subscription - however they pay you - for some reason, has failed, and they don't address it in time, and therefore, their subscription ends."
"If you make the process of leaving difficult, they're never gonna come back, and they're not gonna speak positively about you to anyone else"
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