We’re back with another newsletter full of content and drops for you.
Today, we cover:
- The best practices to scale your membership
- Info-rich conversations with your favorite creators
- A library of content to help you scale your business
Grab your coffee, and let’s get sippin’!
Best Practices For A Profitable Membership
The creator economy continues to evolve. Previously, creators saw digital products as the only option to generate an online income. However, as creators are now becoming businesses, memberships have become a new option for generating a substantial income online.
But with a new alternative comes new challenges. Because of this, we’re going to go through six of the best practices Gumroad creators have used to launch successful memberships:
1. Tiered Pricing Structure
Many successful memberships offer multiple pricing structures. Giving different pricing options tackles commitment objections. For example, some members rather pay month to month, and some rather pay upfront for an annual subscription.
2. Offer an Annual Membership
The best part about offering an annual membership is its ability to drive revenue instantly. For creators who want to reinvest capital back into their business, this is a perfect option. Annual memberships also help creators establish how much a consumer would pay for your product and it also reduces churn.
3. Focus on Upselling
There are always customers/members who want more. More access, more content, and more of you. To satisfy these customers, offer an upsell where its sole focus is providing more value to your top customers.
4. Use ‘Freemium’ to Your Advantage
Not every customer is ready to commit off the bat. These individuals need just a little more convincing. By offering a free trial, you give customers a “taste-test” of the value you provide before they choose to commit.
5. Focus on Conversion Optimization
A consumer’s experience should be a positive one. And a positive customer experience optimizes for conversions. It gives the consumers the information, education, and inspiration to make a confident decision. A confident customer converts.
6. Make the Value of Subscribing Clear
Don’t focus on selling the membership you provide. Focus on selling the value creation on the other side of your membership. This helps the consumer see themself in the future as a happy customer.
One of our new blog posts covers everything you need to know to launch a successful Gumroad membership.
You can read How to Sell Online Memberships: All You Need To Know here.
What’s Happening In The Creator Economy
- Your secret weapon to making six figures a year
- Matt Wierzbicki’s seven lessons to launching your Gumroad products on Product Hunt
- Want exclusive access to the first chapter of Sahil’s book? DM him here
- Why specialization is for insects and not creators
- As a creator, here’s who you’re truly competing against
Get An Inside Look Into The Minds’ Of Your Favorite Creators
You know that saying, “music to your ears?”
Well, we just launched The Gumroad Podcast, and it's an info-rich conversation to your ears.
Our Senior Writer, Justin Mikolay already sat down with three creators who dropped gems that will instantly accelerate your journey as a creator.
Grab your coffee and binge listen to:
Blake Emal and his thoughts on AI-generated content, his creative process, and what it takes to be a great marketer.
Sahil Lavingia and how he’s scaling the Gumroad team, Gumroad’s work culture, and what to expect from Gumroad in Q3 and Q4.
Steph Smith and what makes good content, her creative process, and her products Doing Content Right and Doing Time Right.
You can listen here.
The Creators Library
Have you ever wanted a library of content specific to creators written by creators?
Well, now you have one.
In case you missed it, we launched The Gumroad Blog this week.
Here, we’re going to consistently create and publish content that helps you accelerate your success.
If you haven’t checked it out yet, then click here.
We're Going To Teach You How To Build Your Email List
We are excited to announce our next cohort for the Build Your Email List course challenge!
Trying to build your email list, but people aren't subscribing? Join us for the #5DayEmailList course challenge and learn how to start and grow your email list within 5 days!
It begins on August 30th.
You'll also get exclusive access to the Gumroad Community where you can meet other creators and complete the course together!
Until next week,
The Gumroad Team