Subscription-based businesses often fail because their offering becomes decreasingly relevant to their members over time.
How can you make sure that your services stay relevant?
Think like a journalist. Start with who, what, where, when, why and how, as they relate to your target member. You need to know who they are, and know well-maybe the target buyer has changed over time. What is happening in their lives and what is on their minds? Where might you find them when your offering would be most relevant? You need to know why they might find your organization, membership, whatever, interesting. How can you help improve their condition?
Organizations often make the mistake of confusing the deliverable with the objective.
I am interested in staying current on news happenings of the world—that doesn’t change. But the vehicle of daily paper is not as useful to me as the always current news website or the news headlines pushed to my mobile phone or even the user-generated video of revolutions as they are happening.
Another mistake organizations make is delivering what is easiest for their staff to deliver. Just because you own printing presses it doesn't mean people still want newspapers.
What you’re really trying to do is find the intersection of “what is relevant to my audience” and “what can I provide better than others”. So the first thing is you have to know who your audience is, and what you can provide. Both things can be adjusted—you can move either Venn circle: audience or circle of capabilities—but moving the circles costs time and money—start where you are, but be wiling to move if needed.
With Membership Organizations in particular, because of the high level of loyalty and connection promised in the nature of the relationship, staying current on what is relevant to your audience is critical.
