Stop the Hidden Revenue Leak in your Membership
Shana is going to tell you about an opportunity for your business to increase its monthly recurring revenue without getting new customers. She'll explain exactly what it is, how to determine if this is an opportunity for you, and what steps you need to take to recover this revenue.Key Takeaways:Intro (00:00)What are failed payments? (02:02)Where do you start if you want to start addressing failed payments? (03:08)What are involuntary and voluntary cancellations? (03:23)Establishing a failed payment process involves a four-step procedure (06:28)Four things that we need to look at when it comes to communication (07:30)Episode wrap-up (12:15)Additional Resources:Get Instant Access to the Membership Retention & Lifetime Value Calculator: https://www.memberltv.com/Community Manager Best Practices: https://www.shanalynn.com/bestpracticesLearn how to work with Shana: https://www.shanalynn.com/FREE 7-minute Community Training: https://connect.communitycultivated.com/trainingFREE Community Creators Hub: https://connect.communitycultivated.com/hubLearn more about Shana’s Community Training Program: https://www.shanalynn.com/cultivateConnect with Shana: https://www.instagram.com/shanaspeaksCommunity Creators is a podcast for online entrepreneurs looking to learn more about creating thriving communities and empowering their community teams.Be sure to follow the podcast, so you never miss an episode!