Great article Mark. I do see the benefits of communities and of course I see the benefit of being a paid community even if it is a low barrier entry. Often you get a small, engaging and tight community behind a paywall and filtering out unwanted grief.
Mark, great article! Seems like communities are the new black in content creation. I'm curious, do you think Substack can be one of those platforms in the future? I mean a community-centered platform?
If you look at the $99 you get access to everything including the newsletter, the newsletter VIP tier is the same as the bundle. so with either you'll get the newsletter.
It's just that some people don't subscribe to the newsletter.
If you purchase via the bundle page I add you to the newsletter, if you purchase via substack I add you to skool and give you access to the courses.
Great article here, Mark, and a nice endorsement for Skool. When you say:
"I also recommend having an annual fee, usually 6-8 months of the monthly payment, but I use $99 as it’s a nice round number and gives value to those who want to stick around for a year."
I'm assuming you mean an annual pay option as opposed to a monthly pay option. Because when I was reading it, for a minute I thought you meant an annual fee of $99, in addition to monthly fees. Lt me know on that one.
Again thanks for article. I like Skool. A little expensive for someone just getting started, but I do see the potential for a person porting an existing audience over and wanting to organically grow on platform.
Thank you for responding. Yes, they pay $99 for Skool annually but then they pay again for a monthly newsletter subscription elsewhere. OK for example: $99 for Skool. Then they get hit again for a $27 monthly newsletter. Won't "money fatigue" set in?
It simply seems to me the churn rates wouldn't justify the invest or time, as the newsletter publisher is constantly working to bring in new subscribers.
Which is normal, customers leave. But to be on a hamster wheel leaves little time to provide your best service to existing subscribers.
Great article Mark. I do see the benefits of communities and of course I see the benefit of being a paid community even if it is a low barrier entry. Often you get a small, engaging and tight community behind a paywall and filtering out unwanted grief.
Yep exactly, I find with free communities you get a lot of people who become spectators rather participate
Mark, great article! Seems like communities are the new black in content creation. I'm curious, do you think Substack can be one of those platforms in the future? I mean a community-centered platform?
That’s what I hope!
It will take a bit of trial and error but I hope it’s on the roadmap
me too, it would make it even more unique.
I signed up for Skool and had buyers remorse.
Maybe you can clarify this for me.
Looked at $99 a year to join, fine. But then it came to this: Join Skool for $99 and then charge members $X per month for your newsletter.
No, I'm not a "free eats" business person but it smells too much like gouging the customer no matter the MRR.
What am I missing? Be direct please, wear big girl panties and can take it.
If you look at the $99 you get access to everything including the newsletter, the newsletter VIP tier is the same as the bundle. so with either you'll get the newsletter.
It's just that some people don't subscribe to the newsletter.
If you purchase via the bundle page I add you to the newsletter, if you purchase via substack I add you to skool and give you access to the courses.
Great article here, Mark, and a nice endorsement for Skool. When you say:
"I also recommend having an annual fee, usually 6-8 months of the monthly payment, but I use $99 as it’s a nice round number and gives value to those who want to stick around for a year."
I'm assuming you mean an annual pay option as opposed to a monthly pay option. Because when I was reading it, for a minute I thought you meant an annual fee of $99, in addition to monthly fees. Lt me know on that one.
Again thanks for article. I like Skool. A little expensive for someone just getting started, but I do see the potential for a person porting an existing audience over and wanting to organically grow on platform.
Now I get it, though I wasn't referring specifically to yours.
Thank you for responding. Yes, they pay $99 for Skool annually but then they pay again for a monthly newsletter subscription elsewhere. OK for example: $99 for Skool. Then they get hit again for a $27 monthly newsletter. Won't "money fatigue" set in?
It simply seems to me the churn rates wouldn't justify the invest or time, as the newsletter publisher is constantly working to bring in new subscribers.
Which is normal, customers leave. But to be on a hamster wheel leaves little time to provide your best service to existing subscribers.
It could be me.