This is the ONLY variable you should worry about in your business...
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3.3min Read Ok, that was maybe a little bit click-baity. There are other variables that are important as well but for the purpose of me writing this newsletter, I wanted to give a subject line that caught your attention. With that said, the variable that I am talking about here is RETENTION. Put simply, this is you saying “Hey I have a service to give you” Then you give the service… and here’s where retention happens— You give the service with so much quality that people continue to show up. It’s really that you say you’re going to do the thing, then you do it. Sounds easy enough right? Well, kind of… but it’s not. It’s SIMPLE— not easy. Retention is on my mind quite a bit right now as I am learning how finicky it can be through the community I’m running. (yes, this is an affiliate link... i'd be silly not to have one) This community is already massive. 626 people in here as I write this. At $99 / month, you do the math. This thing is a behemoth. I would LOVE to say that I have equity in this community, but I don't. I came on a little late for that. My role however is to make sure that those who DO have equity, are very happy. Sometimes you’re selling the shovels, sometimes you are the shovel. Both are important. With that many people in the community, and at that price tag (fairly low), we’re kind of on the Planet Fitness model. What that means is that we have a really nice tight group of active members and then a LARGE group of inactive members that eventually churn. My mission: Reduce churn “But HOW??” I’ll get to that, jeez! Retention prevention (ooo that has a nice ring) happens from the very beginning. Like THE VERY BEGINNING And if I’m being honest, it never ends… but it’s super important from the start. Members made a purchase and they want validation that what they are getting is worth it. So you want to do that over and over and over and over again until they say out loud how valuable it is… then you punch them in the face again with the value. Just for imagery sake, imagine that you are wearing two massive boxing gloves that have the word VALUE SQUAD written on them. Your goal is to go to town using those gloves! In reality, the flow looks like this. Full transparency— my role right now is designing this and implementing it. It’s a work in progress, but we are getting there. FLOW—
This will–
Right off the bat what we have here is a clear path. There are multiple touch points that are both automated as well as manual and then they enter into a community and have to engage in order to check off some of the boxes. When they engage, they meet others and join the “tribe”. This is all almost immediate. From there, we make sure they are on live calls, we run challenges and workshops. Bring in guest speakers and provide deals, resources and exclusive opportunities… all with one vision— Punch you in the face with our VALUE SQUAD gloves. This is community specific, BUT the same principles apply to retention in any other business. My suggestion would be to take this and drop it into Chat and have it re-write this for you with your business in mind. BITES 🍩 BITE 1 — Local might be better to start BITE 2 — Mysterypreneur Link BITE 3 — The AI Juice you 🧃 🍩 BITE 1 I've been thinking about this quite a bit lately and wanted to share. When you start something, ANYTHING, you need to be able to take ownership of it or else it just wont work. You’re competing with others that ARE taking ownership and if you aren’t, you’ll lose every time. When I say “start local”, I’m not just referring to proximity (although that does come into play) I’m talking about the bigger picture. Start with what you know. Start with what you love. Where you find yourself ALREADY. This could be where you live, what you have expertise in, what you love to do, what you have seen your family do, what you learned in school, WHATEVER. But pull from something “local”. What this becomes is your unfair advantage. We all have them and our ability to identify them and then act on them directly correlates to our success… it’s science ;) 🍩 BITE 2 🍩BITE 3 Are you using Whisper Flow? It basically allows you to dictate any and all things that you want to say and it pastes it immediately over to where it needs to go. I've used it for a while now and think it’s pretty cool. Worth a try for sure! Until next time... Stay in the fight, My best tweet this week:
My favorite tweet this week:
Other places to find me:🐥 Twitter 🎙️ Podcast 🎥 YouTube ✍️ Personal Blog 🧑💻 Medium 📸 IG 🔗 LinkedIn 🙋🏻♂️ About Me📚 What I'm Reading✏️ What I'm Writing 🧱 What I'm Doing📌 Pinned Article |
Sunday Doughnuts By Kevin Bell
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