cover of episode People Magic Profit: Offer

People Magic Profit: Offer

2024/8/20
logo of podcast People Magic: How to Build a $1M Community

People Magic: How to Build a $1M Community

Chapters

Gina discusses the importance of charging for memberships and how it helps people achieve results and transformation they can't get on their own.

Shownotes Transcript

Here is the one thing I want to leave you with. If you take nothing else away from this module, it is that people pay attention to what they pay for.

Welcome to module seven, where I'm going to show you how to build an offer. Your offer is how you charge for your membership. And the same principles apply, whether it's an online course, a challenge or an event. When you are charging for a membership, you are actually helping people get results and transformation that they can't get on their own. Now,

I know that when we start talking about asking people for money, it can get a little nerve wracking. And that's why I've actually created a companion podcast. And in this companion podcast, I am going to tackle the myths

the questions, the unknowns, and the things that you want to understand before you get started, absolutely fine. We have got you covered. So I hope you'll join me for the companion podcast called People Magic. With that out of the way, why don't we dive into the most important thing in creating your offer, and that is choosing your price. So what should you charge for your membership?

Well, I like to use three R's. Number one, results. What is the value of the results that your members are going to generate by being a member of your community? Number two is replacement. What are your members buying today that your membership can replace? And number three is respect.

What price motivates both you and your members to prioritize your community? And it turns out, again, if people pay attention to what they pay for, the higher the price, the better results and transformation your members will get. So results?

replacement, and respect. And hopefully all three of those are leading you to something that we've discovered here at Mighty Networks, which is the average monthly price

For a membership that gets people results and transformation in their lives, gets people real value from their results, replaces other things that they're spending money on, and is a price that allows both you and your members to prioritize your new membership, I want you to anchor on this. $48 a month or roughly $500 a year. That is the average.

average price that we see across Mighty Networks and across offers that are running on Mighty Networks. Now, here's the beautiful thing about it. $48 is something that if somebody is able to get,

that unlock in terms of new revenue or that job promotion or even the things that you can't necessarily put a figure on like a happy family or more inner peace. This is a price point that is going to deliver results, that's going to replace a number of other things that people are doing and ultimately give

your new membership the respect and attention that it deserves. All right, so now I want to show you some examples. And my intention in showing you these examples is to give you the confidence that there are people all over the world

who are creating offers that are at that $48 price point or higher, and in some cases, significantly higher. You can absolutely do this. And your ideal member, that person who's in a transition, who wants to have their best year ever, they want you to do this too. Let's go ahead and dive in. I love this example, the Happy Horse Happy Life. It is a membership at $59 a month.

or $644.99 a year for horse trainers. And it is all around how to train horses for connection, comfort, and choice.

They also have done something really interesting, which they have a number of what they call quick courses that they offer on top of that membership. For example, this $9.99 benefits of writing out quick course. And so when you look at

At a membership, not only do you have the baseline membership, this $59 or $644, but you can also layer on more paid programs on top of it. Let me show you another example. This is the Modo Academy for motorcyclists hungry to elevate their riding skills.

And this is $99.99 a month or $999 a year. Additionally, they have a moto jump course at $299. So you're starting to see how people have a premium membership and then layer on top of that premium membership additional programs that somebody can buy. So you're always leveling up. I like to call it

a value journey. You're getting more and more value the more that you master each and every level in this membership or in this set of courses. Another great example is No Bad Dogs, the official club. No Bad Dogs has a pretty significant social media following and it is for dog lovers to do at home.

home training. This is a $39.99 a month membership. So again, it doesn't have to be that $48. And then they have an additional offer in a $20 a month recall training course.

So again, this idea of having a paid membership with courses that are layered on top. Another thing that we also see though is somebody might start with a challenge and it could be a free challenge or a paid challenge that then goes into a membership. That's another way to create one or more offers in your membership and community. Another great example is protrusive guidance, which is for kind and geeky dentists.

motivated to grow in their stressful profession. So this is $16 a month or $140 a year for the baseline membership. And then they also have the ultimate clinical education at $49 a month and $449 a year. Again, you can have different membership tiers and different membership levels. I do want to recommend that if you are starting from scratch, just start simple with one.

You don't have to have multiple tiers. You don't have to have a bronze, silver, and gold level. All of that can get very complex very quickly. And you're much better off starting with something that is a strong foundation of one simple membership and then layering on top of that core membership, that foundational membership, as you start to see people get through it or just have great success and want more.

The Storage Rubble. This is for people intrigued by flipping ordinary garages into extraordinary lives. And their membership is $297 a month with an additional event ticket of $479 for their annual summit.

Another great example is Farina Daily. This is a fitness membership for at-home fitness training, and this is $49.99 a month. And then there's also $199 one-on-one consultation with the founder.

So you can take full advantage of different levels and different opportunities within Farina Daily. Another example is the lab for mortgage and real estate professionals. This is a really strong membership with a £299 a month, based obviously in the UK membership, where they also have a £699 per

per year database benchmarking mastermind group as well. So you can start to see how they are creating their value journey, as I like to call it, from the core membership into premium programs that happen on top of it.

Good Soil HQ, it is for business owners and executives looking to launch a new venture in the next year. They have a $140 membership that is $1,500 a year, and they have a $499 event ticket that

for their annual conference. Another great example is the Flower Boss Academy. This is for local floral designers ready to take their business to the next level. So this membership is $297 a month.

And they offer one-off programs on top of that, such as a $97 wedding inquiries masterclass. So as you think about your offer, this is not about asking people for money. Certainly that's a little bit of a part of this, but what it's really about is helping people pay attention.

helping them get results and transformation that they cannot get on their own. People pay for progress and what they pay for, they pay attention to. So as you think about your offer, just remember, you've got results, replacement, and you have got respect. So that's it. That's all you have to do to create an offer. Join me in the next module where I'm gonna show you how to set up your sales page and launch.

Thanks for tuning in to People Magic Profit, a nine-part series where I show you exactly how to build the most profitable digital community membership by creating people magic. And if you want more, I have got a podcast also called People Magic where we do a deep dive

of all of the topics I've covered in this masterclass. Head on over to Mighty Networks where we have got a free trial waiting for you. Until next time, I'm Gina Bianchini and thanks for being a part of People Magic Profit.