232 - Should You Charge a Joining Fee for Your Membership?
Are you thinking about charging a joining fee for your membership?
A joining fee is an arbitrary fee that new members pay on top of their first monthly payment. If you ask me, I think that joining fees are unnecessary and there’s often no real justification for it. However, there are situations when a joining fee may be necessary.
If you’re considering having a joining fee for your membership, make sure you listen to this episode of the podcast or read the blog post, where I dive into the topic of joining fees and explain everything you need to know about them.
Essential Learning Points:
Why joining fees are usually nothing more than unjustified arbitrary fees
The hard truth that if someone is charging joining fees, they may not have their member’s best interests at heart
How to control your members access to your back catalog of content
Legitimate reasons when a joining fee may be appropriate
“They've realized that no one is staying in the membership for more than two or three months. Instead of addressing the real problem…they just charge a joining fee instead to make more money from you.”
“It's very rare that you get an incredible membership that is very ethically run where the content is amazing, the customer service is phenomenal and that also has a joining fee.”
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