Are you looking for an effective way to acquire new customers?
Here’s a great idea — trial memberships.
HubSpot states free trials have a conversion rate of 25%. Free trials give customers a first-hand experience of your product and present you with a golden opportunity to convert them into paying customers.
However, to use them to your advantage, you must learn the ins and outs of trial memberships. After all, you need to strategize your membership offerings carefully to achieve a good conversion rate.
To help you achieve that, we’ll dive deep into the vast realm of membership trials, one step at a time.
Less official sources will cite inflation rates even higher than that. I won’t try to figure out what the real rate of inflation is or how transitory our current round of inflation will be. If you want to nerd out on economics, hit me up on Twitter or my blog at InvestorGeeks.
In this post, I want to focus on how inflation is affecting our customers. While the focus may be on gas and groceries, there is inflation in software and membership dues as well.
Version 2.6.6 of Paid Memberships Pro is out with one security fix and a few other bug fixes. Thank you to Erwan from WPscan for the responsible disclosure of the cross-site scripting issue. Please update Paid Memberships Pro from the plugins page of your WordPress dashboard. You can also get the latest version of PMPro here or version (more…)
The holidays are upon us and our lives are busier than ever. We scoured the internet and put together some of our favorite products & deals. We have a ton of technology suggestions, home office supplies, a few books, and some video games to relax.
These suggestions will support anyone who works from home or runs a business online.
Version 2.6.5 of Paid Memberships Pro is out with a handful of bug fixes. These bugs have the potential to hinder sales, so be sure to upgrade.
This update also includes a security fix that should be applied to keep your site safe. We don’t believe this vulnerability was being actively exploited, but it is good to fix it anyway. Thanks to Victor Garcia for his responsible disclosure of this issue.
A membership is a great business model that empowers you to create recurring revenue. But if you want to increase that revenue, you need more members. If your first thought is that you need to double down on your marketing efforts to make that happen, stop right there.
You don’t have to add more to your plate and sacrifice time that would be better spent on engaging with your existing members. That is even more true when considering that customer acquisition costs (CAC) can be very high. It can cost five times as much to acquire a new customer rather than keep an existing one.
As such, it’s a better idea to see if your existing customers are interested in buying a gift for someone else before trying to find new customers. To assist with this, you can use gift memberships to let people give the gift of membership to their friends and family members.
Memberships are growing in popularity as gifts for your loved ones. However, not all software makes it easy to gift memberships to others.
In this post, we’ll explain gift memberships, talk about the best practices for gifting a membership and share practical tips for converting gift recipients to regular subscribers.
Editor’s Note: This is a guest post from Craig over at Castos
Never before has it been easier to make money in the creator economy. Whether you’re running an online course, an exclusive membership site, or a digital community there are more tools available to you as a creator now than ever before.
The ability for you to create unique, valuable content and charge real money for it is at the heart of what makes the creator economy tick. Here are just a few examples of a few people just like you who are making tens of thousands of dollars a month only selling access to their membership sites:
One of the most common forms of making money as a creator is to gate some of your content for it to be available only to select members on your website. These can be paid memberships or free ones, but the idea is that you are trading your valuable content for some form of commitment from your members. This commitment can be financial in the form of a monthly membership fee, or just their email address in order to access your content.
Either way, you are choosing to put some of your valuable content in an area that only your members can access.
And many times, it is those members who raise their virtual hands and say “We want more!”. More content, more insights, more behind the scenes info on what is going on in your world. It is this premium content, oftentimes driven by your audience, that makes the value of a membership site so compelling to your audience.
Version 2.6.4 of Paid Memberships Pro is out with a handful of bug fixes. These bugs have the potential to hinder sales, so be sure to upgrade.
In particular, there was a bug in version 2.6.3 of PMPro that may have led to users who cancelled subscriptions at PayPal to not be cancelled locally in WordPress as members. You will want to look into recent subscription cancellations in PayPal and make sure those users no longer have access to your website if they should not. Thanks to Juan Zelaya, Ricardo Valladares, and Mirco Babini who helped to diagnose and fix this issue.