#47 2024 Predictions: Memberships + Community Products
Welcome to my first ever annual predictions issue... and my last issue of the year!
I worked for a Chief Product Officer years ago that would often reference the scale of conscious competence.
One of the things I think about a lot is that we are all at risk of our products failing because of our unconscious competence.
Meaning, we don't even realize how much we know, and we assume others know the same things we do.
We forget to include expectation setting, (what we consider) the basics, and what we naturally know to be true as part of our onboarding sequence, curriculum, email strategy, etc.
I talk to people in the online education space building memberships and course products every single day... people like 7/8 figure business owners, expert consultants in education, and platform builders.
This predictions issue is meant to share the unconscious themes I've become aware of in those conversations.
I hope you enjoy it and would love to hear if you agree/disagree on any of the points below!
Let's get into it –
Prediction #1: There will be more in-person events
Community experiences will need to have an in-person component to be among top membership experiences
...and among top membership price tags. You've heard it – we're experiencing a loneliness epidemic. We are craving in-person connection. Online communities aren't enough.
Whether it's small group retreats, self-organized local chapter meet-ups, or full-blown conferences, get ready to let in-person events happen.
Prediction #2: Facebook groups are out.
This feedback is not loved by my clients 😬 but I wouldn't be an excellent consultant if I sugar-coated this.
With the rise of platforms like Discord & MemberUp, there is really no reason to create a Facebook group anymore.
I can't tell you how many clients come to me upset because their Facebook group is dead.
With Facebook you're dealing with the algorithm – your posts might not even be shown to all of your members ... plus you're competing with the weird Uncle who is still talking about the 2020 US election.
I have seen long-time existing memberships with active Facebook groups still, especially in certain demographics.
But whatever you do... don't build a new community on Facebook in 2024.
Prediction #3: If you're offering services, you need to be building community.
Anna Nassery says the new B2B or B2C is H2H. Human to Human.
She runs a successful brand + web agency separate from her "personal brand" but nearly all agency leads come through her.
People desire to work with other people. Her network and reputation wins her agency business.
We're seeing the same thing with huge creator-influencers launching a service-business based on what content they're known for, like Ali Abdaal launching a YouTube agency (holy price tag).
Building community isn't the same as building a personal brand, but it's part of it. It means as you grow your personal brand, connecting with the people that are following you, and connecting them to one another.
The community doesn't need to be a paid product, but could simply mean posting regularly and intentionally connecting with others on a discovery platform like LinkedIn or Instagram.
Prediction #4 Monthly masterclasses are over.
For a while the trend with memberships was to "drop" new templates, masterclasses and content every single month.
The goal was to keep the membership "sticky" – aka, keep people coming back and giving them a reason not to cancel.
But this isn't competitive anymore, and adds to the content overwhelm we already feel on a daily basis.
What matters now is having incredible core curriculum paired with community programming that helps your members reach their goals.
Focus less on constantly churning out new content, and more on fostering transformation.
Prediction #5 Quality matters now more than ever.
You can't put together a product overnight and expect great results.
There is more competition to have a course, program or membership than ever before. With the technology we have available today, it's easy for anyone to stand up this business.
It doesn't mean there is less opportunity.
It means there is a higher bar for quality.
You can't set and forget your membership. You have to grow WITH your community, evolve what you're offering and, continuously set the bar higher with your membership quality.
Prediction #6 We see your "100k worth of value" and call bullsh*t.
Leaving my spiciest prediction for last... here we go!
The marketing strategy of putting false values and a laundry list of bonuses is over. It might still trick people into purchasing, and if that's all you care about then this probably isn't the newsletter for you. But it's problematic for product-led growth and retention.
The problem: we set the bar so insanely high pre-purchase that our customers are underwhelmed once inside. This leads to quick churn and a low likelihood that they'll recommend the product to a friend.
Do this instead: Sell only the core value – exactly what they need to make a purchasing decision. Then over-deliver like crazy.
It creates an entirely different customer experience. Blow their socks off and watch your product grow itself.
What do you think of my predictions? If you disagree with any I'd love to hear from you! You can subscribe to the newsletter here.
👋🏻 Quick Note:
If you want to figure out how community fits into your business, join me in January for Journey Makers Live. I've got about 8 spots left and it's still $100 off!