Member retention is key to the long term success of a membership website; however if you offer both monthly and annual billing people often end up so focused on keeping monthly subscribers that they take annual renewals for granted.
Or worse – they assume people joining on annual plans aren’t likely to stick around beyond their first year, so they don’t even try to retain them.
In this episode of The Membership Guys Podcast we’re focusing on how to handle annual renewals in order to increase the chance of members sticking around for years to come.
In this episode, I discuss:
- Pros and cons for an automatic and manual subscription renewal process
- How to improve your renewal rates and increase member lifetime value
- A look at how we handle renewals inside Membership Academy
Related articles about renewals and member lifetime value:
- What to do (and what to avoid) when someone cancels their membership
- Should you charge a one-off fee or a recurring payment for your membership site?
- Are Your Long-Standing Members Actually Loyal to your Membership?
- Pros and Cons of Offering Lifetime Memberships
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