Written by Michael Gillespie
In this Issue:
QUOTE OF THE WEEK
“It seems like current and prospective customers aren’t seeing the full value in what we’re doing.”
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Preparing for things to break…
Since last week’s newsletter, several of you have asked about current market conditions and the outlook for membership.
Let’s face it: Things are crazy out there right now.
Markets are on edge and consumers are cautious. As an operator, this is a moment where you must separate the noise from the fundamentals.
And the only way to do that is to prepare for things to break.
Today’s big idea: Uncertainty is a gift to a membership operator.
Let’s dive in…
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How to use market turbulence and uncertainty to answer the hard questions about your membership.
When skies are clear, we can all fly.
But difficult markets have a way of revealing what’s really working for membership vs. what you think is working.
The overwhelming majority of membership products aren’t essential to consumers. That means your customers are purchasing your product not based on need, but based on the experience it delivers.
So when turbulence hits and consumers become cautious, your members will take action based on this important question:
What would they miss if your product disappeared tomorrow?
Would they be less fulfilled?
Would they stop learning?
Would they stop laughing?
Would they stop smiling?
These are the hard questions you must ask as an operator. And often, these questions aren’t asked until turbulence hits and things start to break.
Successfully answering (and designing for) these questions in your own membership program will act as a built-in insurance policy when uncertainty emerges.
Remember, at the end of the day, members will ultimately act on the way your product makes them feel.
📌 Resource: **Use this cheat sheet** to help generate member fulfillment within your membership and insulate yourself from market turbulence.
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