EP12 – Invested Success PT5 – Investing in a Membership Site –
Interview with Gemma Bonham-Carter
In today’s final episode in the Invested Success Series, Nat and Ang chat with Gemma Bonham-Carter. Gemma is a Digital Product Strategist who has coached hundreds of students through launching and scaling their businesses with online courses, memberships, and digital downloads. This year alone, she has helped clients rake in a staggering $650,000+!
“Describe what membership is,” Gemma says membership is comparable to a subscription-based service such as Netflix. That subscription-based model is used in an online capacity to teach. It’s a tool to deliver content and serve your audience on a month to month basis.
“What value can a membership bring?” Gemma details that the value you receive in membership compared to a traditional online course is the ongoing support and community aspects. These are really valuable for the learning experience and are really complementary to the lessons and skills students will learn within the membership. Students are able to learn and develop new skills but typically stay within a membership community for the ongoing support it provides.
Nat asks, “how was running your membership, The Passive Project Membership, affected your brand?” Gemma details that it has opened an opportunity to serve students in greater numbers at an affordable rate in contrast to her private 1:1 services. A membership allows her to serve to continue to provide coaching calls, Q&A’s and full access to her for support and expertise.
Gemma explains that when you are looking to promote and fill your membership to be very clear on who you are trying to attract within the membership. They need to be very aligned and on similar paths. It’s also a platform that provides real-time response and information.
Memberships are also great opportunities that provide monthly recurring revenue, especially with a good churn rate (which is membership speak for low-turnover of members leaving).
In terms of balancing work and family life, Nat asks Gemma how has implementing membership services into her business has affected her family life. Gemma describes her “shtick” to be creating a business that doesn’t need to be run 24/7. It’s an opportunity to allow school drop-offs and pick-ups, travel and freedom with family.
“What piece of advice she would give to those looking to start a membership?” to which Gemma chats about the value in tapping into the audience you already have and seek out their struggles and pain points. Tune in at the 12:58 mark for some BIG tips from Gemma! And at 13:53 she shares a surprising fact about how she started her membership!
This is one episode you do not want to miss!
Connect with Gemma!
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