David Stein – Attract Lifetime Paid Subscribers With a Membership Site [060]

Welcome to Series 3 of the Plutus Awards Podcast! The team is excited to present a new series of episodes, providing our listeners with the best actionable tips and personal success stories from superstars in our community and from the diverse experiences of many creators and entrepreneurs.

Attract Lifetime Paid Subscribers with a Membership Site

Show notes

Offering a membership site can be a profitable decision, but the benefits of this model are entwined with its unique challenges. How should we go about deciding whether a membership site is suitable for our business and navigate the teething troubles of adopting this model?

In this episode, Sarah Li Cain speaks with David Stein, the founder of Money For the Rest of Us, about the intricacies of operating a membership site and the steps he took to set his membership site up for success.

Episode highlights

  • How David came up with his pricing model
  • How David marketed his membership site
  • The systems David set in place to operate his membership site smoothly
  • How David converts podcast listeners to membership and forum subscribers
  • How David responds to the biggest challenges in operating a membership site

Episode contents

0:00 Introduction
1:09 When David decided to launch his paid membership site
2:06 How members respond to the perks of membership offers
2:52 Why David pivoted to launching a membership site
4:37 How David came up with his pricing model
7:02 David discusses the market for lifetime membership plans
7:52 How David marketed his membership site
9:55 Launches, Evergreen models, and the emotional impact of different business models
11:16 How David plans to retire from his business
13:46 The systems David set in place to operate his membership site smoothly
15:07 How David moderates discussion forums
16:23 How David converts podcast listeners to membership and forum subscribers
17:43 David’s take on promoting subscriptions in an email list
20:18 How David responds to the biggest challenges in operating a membership site
23:50 Where to find David Stein
24:03 Lessons & wrap-up

About David Stein

David Stein is the founder of the Money For the Rest of Us. Since 2014, he has produced and hosted the Money For the Rest of Us investing podcast. The podcast reaches tens of thousands of listeners per episode and has been nominated for six Plutus Awards. David also oversees Money for the Rest of Us Plus, the premier investment education platform that provides professional-grade portfolio tools and training to help individual investors manage their own investment portfolios. He is the author of Money for the Rest of Us: 10 Questions to Master Successful Investing, which was published by McGraw-Hill. Previously, David was an institutional investment advisor and asset manager. He was a managing partner at FEG Investment Advisors, a $15 billion investment advisory firm. At FEG, David served as Chief Investment Strategist and Chief Portfolio Strategist.

You can follow David on his website.

Plutus Awards Podcast - David Stein Featured Image

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About Sarah Li Cain, Podcast Host

Sarah Li-Cain is a finance writer, the founder of Beyond the Dollar, and an AFC (Accredited Financial Counselor) candidate whose work has appeared in places like Bankrate, Business Insider, Redbook, Financial Planning Association, Stacking Benjamins and Her Money podcast with Jean Chatzky (of NBC Today). Her work blends practical tips and mindset strategies so that those trying to change their financial life can see themselves in the starring role. She also integrates physical, spiritual and mental wellness so that money becomes a tool to enhance people’s lives.

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