This is the ultimate “how long is a piece of string” question.
There's no exact science or specific formula that will accurately predict how many people are likely to join your membership.
However when setting goals for the launch of a new membership site, or even the growth of an existing one, it's useful to know whether your aspirations are realistic or just pure delusion!
In this episode, I attempt to answer this unanswerable question, and give my “rule of thumb” guidance for predicting how many people you can realistically expect to join your membership.
- Why it's impossible to accurately predict how many membership signups you'll get
- Identifying your core audience size, and the mistake so many people make with this
- The two most important factors affecting the percentage of your audience who will join
“There are so many things that affect the number of people that you can realistically expect to join your membership. Your topic, choice of niche, pricing, how well you describe the value proposition, what your competitors are doing and so on. All of this sort of stuff factors into the equation. And it's impossible to accurately project how your membership will perform. There really is no science or a one size fits all formula.”
“A highly relevant list of people who subscribe to your emails or joined your Facebook group because they're very specifically interested in your topic; these guys are clearly in the market for solutions to problems that your membership solves and are obviously going to be far more likely to join your membership than, for example, 1000 random people who subscribe to your email list because you ran a contest to win an iPad.”
“We see people with 100 to 200 people on their email list, and they go into this whole thing thinking that every single person on that email list will join their membership. And, of course, they end up disappointed.”
If you liked this, you'll really dig these:
- You Need To Prioritize These 8 Things in Order to Grow Your Membership
- Should You Launch a Membership Site Without First Building an Audience?
- 3 Questions That Will Accelerate Your Membership Growth
- How to Generate Email Leads for Your Membership Site
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