Erin Kelly [00:00:00]: This is a special episode where I'm sharing ten specific ideas for recurring revenue offers that are not your standard, full blown standard membership with calls and a community and like all that jazz. So let's just dive into it. These actually, I sent an email back in August of 2023 and I had these ten things, and it was my, one of my most popular emails that I've ever sent, and I repurposed it and posted it in the collaborative during a recurring revenue week. And it continues to be a super, super popular list of ten. There's more. This is not the only way that you can do a recurring revenue model. That's not a membership, but I definitely think that it'll get you thinking about ways that you can do this differently. And they also work really well as downsells or upsells for an existing membership. Erin Kelly [00:00:47]: So the first one is content delivered each month via email, with all the previous month's content inside of a product and your member vault. So people can then go and like, you know, check, check in on previous month's content. So that could be meal plans, craft plans, social media swipes, journal prompts, mindset check ins, SEO accountability tips, business trends. There's so many different ways that you could play with this, and then of course, you can even break it down and have it be two different offers. So let's say they are buying a membership or they're buying this recurring revenue offer for the content delivered each month via email, and so they're getting the month that they sign up for and future months, or they can buy the plus version and they get the entire library. So you could even have that broken out into two different payment options. Then the second option is a weekly content recurring revenue model where you're delivering it with limited engagement opportunities with the people in your audience and with you. So a great example of this is Substack, where you can actually comment on the substack article, but in membervault you could use it as a lesson inside of a product. Erin Kelly [00:01:56]: And I've really enjoyed the substacks that I'm part of, and I do feel that calling it a community is accurate, because what I have found with the substack authors that I follow and that I pay for, is that you start to see like the same names and people who are really engaging in the comments, and you reply to each other and like the author replies to you, and it feels very community oriented without being like a full blown community where you're having to do engagement and stuff. It's like the content drives the engagement. And so there's like little spikes and then it goes back down, right? So that is definitely something that you can consider. And then the third option is an all access pass to your one off offers. And you can even make this more compelling with extra goodies. So like, let's say a special insider value ad, like a private podcast series. We have a hello. Audio integration to make that really easy. Erin Kelly [00:02:49]: You could give them like deep dive, extra emails, feedback from you, automated check ins, bonus workshops, and that could again be multiple price options. So you could have like the base here, which is just, you know, all access pass to all of your one off offers, your library of content. And then you would have like a vip version that like gets access to you or an audit or a q and A or, you know, community. Or there's like so many different ways that you can play with this. So the fourth one is access to you within a specific container. So let's say, for example, you have a voxer package or you do like email access, your inbox access, I should say. And then there's like a container around it, right? So it's like they get one day a month, they get a week, they get a, they get the full month, they get a quarterly check in. Like, what's the container of access to you? But that, that's what they're buying, is that access? Then the fifth option is rethink your standard coaching package from a set and retainer package where it's like three months or six months to ongoing with a standard recurring cancel anytime clause. Erin Kelly [00:03:49]: So I have this with my coach and I don't even remember fully remember when we switched it over. I know it was kind of annoying because it was like we would hit, I've been working with her for five and a half years, and at a certain point it was like we were doing like every three months where we would have to like restart the invoice, you know, the three month package and the payment plan, I should say. And I finally was like, can we just like, keep this going? Can I just like have a recurring charge? And it's been so nice. I mean, we've been having that for forever now, and it just automatically comes out of my account. And I know that if I ever decide, which I probably won't because I absolutely love her, but if I ever decide to cancel it, I can. But it's such a convenience to not have to deal with any of that extra paperwork of re signing up and someone misses it in their inbox and it's just super annoying. So I think that once someone has worked for you past a three month period, having that as an option, or even after an intensive where you can have that as an option and maybe it's even like a slight price break than your retainer packages. There's so many different ways to play with this, but I know as a buyer, it has been so nice and luxurious for me, and I'm sure she really likes it because she doesn't have to deal with the paperwork either. Erin Kelly [00:05:03]: So option number six, a package where they get something like one vip day a month, and you only have a certain number of clients per month, so if they cancel, they lose their spot. And so this is really great for adding friction to people canceling it, which is known as churn. With the recurring revenue model, there's a ton of opportunity for you to nurture them in an automated way and have it be pretty hands off, except for the time that they have direct access to you when you're doing, like, the vip day. So I think that that's definitely a really great option for service providers. I know for me as a consumer and as a, you know, as a business owner, I would like that because then that's something you can plan into. Just like I was talking about the coaching thing. It's very streamlined. I'm not having to deal with invoices or anything, and I can plan ahead and know, oh, hey. Erin Kelly [00:05:52]: Like, I need to be thinking about this and I need to make sure I have this information before I have my vip day with so and so this month. Like, that would be. That would be a very supportive. I already. I have a tech concierge who I pay every month and I just, like, I can have. I can have a bunch of different tickets and she just works on one ticket at a time. And I love that. And I. Erin Kelly [00:06:14]: That's definitely feel very supported there. But if I didn't have that, I think a vip day recurring model would definitely be something that I would be interested in signing up for. So option number eight is access to special ongoing events that you create and run. So happy hours with a specific audience, speed dating, business mixer with connection opportunities. And that right there can be a recurring revenue model because you're doing. You're supporting people by doing the work of creating this container. And it's something that people want, but they don't want to do it. Like, they don't want to, like, try and, like, facilitate getting other people to show up for this container. Erin Kelly [00:06:49]: Right. And so that's what you're getting paid for. Is that kind of like the creation of that container space. Then number nine, in terms of our options. Weekly group calls around a specific topic or struggle with a library. Past calls, including transcripts and potentially action steps or a journal prompt book. So lots of places for there that you can optimize and change it depending on your audience and how you like to show up. I definitely would say that if there's a library of past calls, there should also be a private podcast feed for people who don't like watching video. Erin Kelly [00:07:20]: You know, I think that that accessibility there is going to be a really important thing, because with recurring revenue, you want to make sure that people are getting value, otherwise they cancel, which is known as churn. So you want to make sure that like, if, if it's a content heavy thing that, I mean, accessibility I think is always really important, but especially if it is a content heavy thing, you need to have different ways for people to consume that content to make it more likely that they are going to see the value and want to stay with you. And then the last thing is a daily, weekly, monthly private podcast with support materials. Again, you can use hello audio, which we have a direct integration with to make it really easy for you to manage people canceling and being pulled out of the particular paid product. So those are ten recurring revenue ideas for you to be thinking about that are not your standard membership. They all would make really good, excellent upsells or downsells off of a standard membership model. And if you haven't listened to the previous podcast that I did, around the six different types of recurring revenue big picture categories, that would be a really good one for you to listen to as well, just to be thinking about, okay, how do I want to position this? And do I want to do multiple ones? And what is my current idea that I have? Which one does it fit under? Just to make sure that you're kind of considering all of your options.

Lesson Activity

This is one episode from the private podcast for the All Access membership — where there is also a private podcast feed so you can listen on-the-go!

Normally my private podcast episodes are only available for All Access members. 🤷‍♀️ But for our Recurring Revenue week, I’m unlocking my newest episodes for everyone. 

All about recurring revenue. All available with time stamped transcripts. 🎉

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