Hey John, thanks as always for a phenomenal coaching call! I had a question regarding what you've been mentioning about membership sites.
Are you thinking that it would "replace" the MMM 4.0 approach entirely? Considering you have a membership site offer as one of your quarterly promotions, I was thinking it would make sense to use both the original 4.0 sales approach and a membership site later down an automated funnel.
But just to be clear, is this membership focus intended as an additional option, or are you feeling like it's necessary? Like, is it just objectively superior to the 4.0 approach, and would therefore also re-adjust the long-term monetization model? Or would it still be valid to open with a sales funnel and move into membership later?
It's not that what I'm thinking going forward is objectively superior. You can keep going with exactly what is laid out in MMM 4.0 for the foreseeable future with no issues.
When it comes to educating people I see my biggest challenge being that people have a hard time realizing how fluid a "sales model" is. I am constantly in the position of arguing about streaming vs sales, and whether or not the "album is dead". What I hope to do in 5.0 is expand the options, and people's perspectives more, so that it is clearer that the issue is not "the album vs streaming" but rather "sales vs streaming". And that sales can mean a lot of things.
But I also want to provide the tools and guidance for making some of these strategies clear, and I also have a way of making the download process easier and more mobile friendly. Additionally, I want to make more effort to talk about streaming and how it fits int the model, as well as what it's limitations are.
I doubt very much that the core strategy will change much over the next few decades. The concept of using advertising to build an audience, and then monetizing your relationship with that audience is here to stay as far as I'm concerned and will only become clearer and clearer.
But as more and more people start teaching musicians about funnels, there becomes more and more confusion because people often put the cart before the horse.
I think I have a few framework changes up my sleeve that will help make things a lot clearer, and will marry a lot of the different ideas you hear me talk about into one clear cut approach. But the core strategy isn't gonna change anytime soon.
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