The power of recurring revenue and breaking down key metrics for running a membership site with Bjork Ostrom

-----

Welcome to episode 480 of The Food Blogger Pro Podcast! This week, we’re excited to air the second episode of our mini-series with Memberful, in which Bjork discusses the ins and outs of membership sites and the power of recurring revenue.

Tired of chasing after millions of followers? In this week’s podcast, Bjork spills the beans on how you can build a thriving business with just a small but dedicated community. He discusses the power of recurring revenue and how that can translate into stability for your business. He also breaks down some key business metrics that can help you track your progress and make smart decisions.

Let’s face it: Building a sustainable business isn’t about getting everyone on board. It’s about finding your tribe and serving them really well. This episode is a must-listen if you’re looking to grow your business in a more sustainable way!

You Don’t Need Millions of Followers: It’s a common misconception that you need millions of followers or subscribers to build a successful and profitable business. The reality is that even a small, dedicated community can be enough! By focusing on quality over quantity and building strong relationships with your audience, you can create a sustainable income stream that allows you to thrive.

Recurring Revenue is Key to Stability: One of the biggest advantages of membership sites is the predictable income they generate through subscription fees. This recurring revenue provides a stable foundation for your business, allowing you to focus on growth and improvement without constantly chasing new opportunities. Unlike one-time sales or advertising revenue, which can fluctuate, membership fees offer a reliable source of income.

Understand Your Business Metrics: To make informed decisions and evaluate the health of your business, it’s essential to track key metrics such as MRR (Monthly Recurring Revenue), churn rate, customer lifetime value, and customer acquisition cost. These metrics can help you understand your business’s performance, identify areas for improvement, and make strategic decisions.

Resources:

• Memberful
• Episode 45 of the Food Blogger Pro podcast: How to Use Facebook Ads to Reach the Right People with Tony Rulli from IntentionalSpark.com
• QuietLight
• Episode 32 of the Food Blogger Pro podcast: Buying & Selling Websites with Mark Daoust from Quiet Light
• Join the Food Blogger Pro Podcast Facebook Group

This episode is sponsored by Memberful. Learn more about our sponsors at foodbloggerpro.com/sponsors.

Interested in working with us too? Learn more about our sponsorship opportunities and how to get started here.

If you have any comments, questions, or suggestions for interviews, be sure to email them to podcast@foodbloggerpro.com.

Learn more about joining the Food Blogger Pro community at foodbloggerpro.com/membership.