Money buys a lot of things, but have you ever thought about the fact that money buys commitment? Let me share a story about how this plays into your membership business.
I was talking to a private client recently who told me that he was turning away members, because he didn’t feel that they were committed to his membership.
As a business owner, one of the great perks is being able to choose who you work with. But this guy was leveraging that benefit a little too much, and I’ll tell you why I feel that way. He actually had two levels of membership. Instead of turning hopeful clients down, he should have been moving them down to a lower level. They were already demonstrating that they had a low commitment level, so they should have been moved to a lower membership level where the commitment matches up to the financial investment.
For the sake of our story, let’s say he had a $25 per month level and a $100 per month level. He had people trying to join the $100 level, but only demonstrating a $25 commitment. Instead of suggesting the $25 level where they were a better match, he was saying, “Hey listen, I don’t think you’re quite ready yet for the membership. So why don’t you take some time to increase your skills, increase your knowledge, and increase your commitment. Then come back to me when the time is right.”
He should have been moving them down to the $25 level, instead of deciding for them that they weren’t ready for the membership at all.
If a member comes to me and says, “Hey, I’d like to be one of your private clients,” well that is a significant investment for them to make. Quite honestly that is usually reserved for those who are making high six or seven figures in their business and are wanting to be private clients of mine.
If you came to me and said, “Hey, Scott, our annual revenue last year was seventy-five grand and I want to become one of your private clients,” we’d have to have a serious conversation. That is a high commitment and I don’t think you’re going to be able to do as much with that level of commitment. So, I don’t say to them, “you’re not ready for that yet. Go back, continue to work on your membership and then come back to me when you think you’re ready.”
No, instead I say something like, “Listen, I don’t think being a private client is the right fit. Even though you could afford it financially, I don’t think you’re ready for the full commitment involved. But I do have a next level underneath my private client level and that is Membership Maximizers. That would be a better fit for you.
So let’s talk about that first, and get you some success there first, so that you can increase your level of investment later on and ultimately increase your commitment.”
So, how does this play out for your membership?
Well, first off, if you’re getting members into your membership and you find out that they’re not committed, don’t fret over that. Number one, it could be that the level of investment dictates that they don’t have as high a level of commitment to it as you would like. So, if you have a $10 monthly membership, that’s great. And you certainly should have a $10 per month membership if that is the level of investment that you’ve determined is right for your membership. But don’t fret over not having a high commitment level from your members, because they are only making a $10 investment. But if you’ve determined that the investment is $100 a month, then you should be looking for a hundred dollar level of commitment from your members.
How do you engage this commitment and build the commitment over time?
That’s where you begin to provide the benefits and the outcome of your actual membership. One of the multipliers that I teach (out of the seven membership multipliers) is the ascension multiplier. The ascension multiplier is all about having different levels of membership, so that a member will be able to choose a level that they think is the best fit for them.
Sometimes they hit it right and they make the right investment at the right level. But then sometimes your members need to be challenged to go to the next level by increasing their commitment and their financial investment, thereby increasing the outcome that you provide for your membership.
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