Do you know what the average churn rate is for a typical online membership?
How about revenue benchmarks?
Average conversion rates?
What about the most popular tech solutions? Or the most effective marketing channels?
Truth is, there's very little reliable data available about the online membership industry.
That's because this market is relatively tiny.
It's a niche, of a niche, of a niche.
What data we do have tends to come from either the broader subscription industry, or from membership associations.
Neither of which reflect the online membership world.
A few years ago we made it our on a mission to change that by conducting a survey of thousands of membership owners designed to shine a light on the real data and benchmarks for the online membership industry.
And now it's time for an update…
We’ve spent the past fews months tapping into our audience of tens of thousands of membership business owners to identify how they’re performing, what challenges they’re facing and which benchmarks and trends are prevalent.
And we've compiled those results into the Online Membership Industry Report 2022
In today's episode of the Membership Geeks Podcast, I'm sharing some of my top observations, takeaways, trends and other interesting tidbits and insights taken from this year's report.
Discover the latest membership benchmarks and trends
The Online Membership Industry Report surveyed more than 2,300 online membership website owners between April 2022 and June 2022 with the goal of better understanding how their businesses are performing, the challenges they’re facing and the specific things they’re doing to market and grow their membership as well as engage and retain members.
Within this report, you’ll discover:
- Insights about the people who are running memberships. Which niches they’re in, how big their team is, how long their membership has been running and how much of a focus it is within their business. As well as their motivation for starting a membership and what impact it’s had.
- A breakdown of sales and retention performance. How much money people are making and what that looks like in terms of member numbers, churn rate, pricing model and more.
- Which business models and strategies are most effective. Looking at open and closed enrolment models, the content deliverables that memberships are offering and the role community plays in engagement.
- The most common marketing tactics being used and how well they’re working. Also looking at email list size and the impact this has on membership success.
- What software and solutions are most common in the online membership space, how satisfied people are with their tech and what challenges are most prevalent in the build/launch stage.
- How membership owners feel about the growth of their business, what their main challenges are, and what they’re prioritising over the next 12 months.
- The impact of Covid-19 on the online membership industry.
Along the way we’ll be highlighting and summarising the most pertinent takeaways as well as extrapolating deeper data to provide further insights into trends and benchmarks within the online membership industry.
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