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Community Book Review: The Forever Transaction

I was excited to discover The Forever ♾️ Transaction: How to Build a Subscription Model So Compelling, Your Customers Will Never Want to Leave.

It offers some BIG promises! (And it delivers!)

“With The Forever Transaction, you have everything you need to build durable, long-term relationships with every customer and leverage them for ultimate business success―today, tomorrow, and forever.”

I’ve compiled some valuable notes, insightful quotes, and thought-provoking questions for you. They’re designed to enrich your journey as you build, launch, and grow your Mighty Networks or online paid community — wherever possible. “To earn a “forever transaction,” you must offer a “forever promise” in return. You commit to delivering a result, solving a pain point, or achieving an outcome for your members forever in exchange for their loyalty. To justify the forever transaction, you need to rethink your pricing and all the elements in which you deliver value. That’s the idea at the heart of this book.”

Some members will come in and get what they need and leave; these aren’t your “forever members,” if they leave, they aren’t getting a “forever promise.” This is a helpful lens through which to look at the Mighty Networks

What does offering a member this kind of transformation or support mean to keep them inside a community?

The question I have for myself and others is this:

What do you expect from building a community on the Mighty Networks, and why would members want to stay forever?

“If you dive into specific subscription pricing and features without establishing your vision, forever promise, and best customer, you risk launching an offering that doesn’t achieve your goals or those of your customer. Or, success with your initial trial offering might cause you to lose momentum because there’s no guide to the next step. A forever promise focuses on what an organization’s target customer can expect.”

Recently, I worked with a client who was launching her first course.

We co-created the copy for her Mighty Networks landing page and plans.

She had mentioned needing to express that she would help them get there “faster” than it took her.

I challenged her by offering a different perspective.

I asked her what her students ultimately want and if this course teaches them how to achieve desired results.

She said yes. “It took me years to develop the ability to be free of antidepressant medications, be happier, and less stressed — so I’m helping them do this in just six weeks.”

But what I asked was their ultimate desired result: never need to take medication, which is a long-term, forever promise.

My thought is that if I were a member of her community and course participant, I’d rather know that she’s going to tell me how I can get off medication forever, even if that takes a year. Still, the problem (depression) is gone, and as a result, I have a lifetime of joy.

That’s more interesting to me than a “faster solution.”

“Customers don’t want product-centricity or company-centricity. They want an organization that will evolve with their needs, incorporating currently available resources. They want a promise that the company will solve a problem or create an opportunity forever.”

Are you harnessing the power of superusers as ambassadors, feedback sources, or new member mentors?

What’s in it for them and us?

What is our vision?

What is your expectation of revenue in 30,60,90 days?

Do you think this is attainable and sustainable?

Who could you collaborate with to support you?

Are you earning income from additional pillars of your business?

What are your members saying about your value, pricing, and “forever transaction”?

 

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