James Schramko here. Today, I’m going to compare having your membership always open versus on a wait list.
These are two ways that I’ve been using my membership sales process for the last ten years, and I’ve flipped between both. And there are some factors that might help you determine which one’s right for you. So, one of the things I look for, is how warm is the traffic coming to your site?
The warmer the traffic or the hotter the traffic or the more ready to buy the traffic is, the more likely you are okay with open always. Okay? I still want to say this, if you’re going to open always, consider capturing an email address so that you can at least have a very strong shopping cart abandonment sequence.
I recently trained on this. I showed my SuperFastBusiness Membership customers how they can double sales with a very strong shopping cart abandonment sequence. So, it’s important to capture the email if possible, even though you can do re-marketing in emails, it’s still very strong.
Other things to look for, are would your customer wait or are they going to go and buy from someone else if they can’t buy what they need right now, today? So, it’s a very important factor because some people just can’t wait. Once they just reach that buying window and they’re ready to buy, they need to buy it instantly. And I’ve experienced that as a buyer before. Sometimes if I have a specific need and I want something, like recently my air conditioning unit broke and the repairman was going to take a week to come and have a look.
It’s very hot here in summer. It was actually the hottest January ever, and I went immediately into my car, drove to the local appliance store, and I purchased two fans for my house. So, I needed it right now, there’s no way I would wait. So, if your customer cannot wait, that might be another indicator to open up instantly.
Now, if your customers are coming in cold or you need to do some kind of induction or warm up process or you need to build up more scarcity or we have a genuine reason why you can’t always be open, maybe you do things on a specific delivery schedule, and these things lend themselves more to having a waiting list.
That way you can control the intake, you can pre-frame and warm up prospects to be ready for your offer, and you can maximize the harvest or the sales at that time which is in their interest and in your interest. And if you have a set delivery schedule, then you can control that timing, the opening of the release so that it can go in a certain phase.
So, you bring in your group or what we call cohort, and then you look after them all at the same time. There are, of course, ways you can automate this. I used to use a software to do this called Deadline Funnel and you can have it evergreen, as well. So, you could always be closed but opening in the background on evergreen software. So, I’ve done trainings on both of these.
They’re inside the SuperFastBusiness Membership. These are some of the things that I would use to determine which one is right for you. And I have found, because my traffic is warm, because I have lots of videos and podcasts out there, because people might see me speak or they’ve read my book, they just want to buy. So now, I let them buy straightaway and then I follow them up very, very carefully if they don’t purchase and see if we can make something happen there.
And that’s what’s working for me right now. Same for SilverCircle, it’s always open by application and that way I’m not making it hard for someone to buy. If they want to buy, they can. And if they don’t for some reason, then I will follow up.
I’m James Schramko. I hope you’ve enjoyed this training. Lots more like this inside the SuperFastBusiness Membership area.