On today’s episode, we spy a new member of “team subscription.” Plus, Peloton falls after lowering subscription app pricing. And SaaS coach Dan Martell knows the power of controlling your mindset.
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The newest member of "team subscription"
English soccer (or shall we say, football?) club Liverpool FC has launched a subscription-based content offering for fans on its official YouTube channel. According to the club, it’s the first sports team to leverage the YouTube membership platform.
Liverpool’s channel currently has 3.4 million subscribers, so this is an insanely wise brand move for the crew. All the content Liverpool had previously hosted there will remain available at no charge, but fans can now pay a monthly fee to access additional content (i.e. paying for loyalty), which will include weekly video shows, live match reactions, and pre and post match interviews.
Fans will also have access to Liverpool emojis and loyalty badges.
We know subscription sports—from those in the MLB to the NBA—are on the rise, and it’s no doubt, a smart move for these organizations.
Subscription sports are slowly but surely becoming the future of fandom, as we see more organizations globally jumping on the bandwagon in an attempt to build a steady revenue stream funded by the loyals, the fans, and the diehards.
But we can’t say we’re surprised. It’s a definite play we can get behind.
Peloton proves the dangers of discounting
And for more in the Peloton saga, Bloomberg reports a nod to plummets in Peloton shares after it lowered the price of its digital subscription app for workouts in an effort to appeal to more users.
The stock dropped 4.8%, reversing prior gains. It was the second day of struggles for Peloton, with the stock on Tuesday falling 9.1% amid negative reaction to a holiday advertisement.
A membership for the digital-only subscription now costs $12.49 per month, compared to its previous $19.99 price tag.
But why the fall? Is the infamous commercial to blame?
It’s likely a classic case of discounting, something we touched on more in depth yesterday. The hidden dangers of discounting may not be so hidden anymore, and we don’t want you to fall victim to ‘em. If you are in the market for discounting, make sure you do it right.
Dan Martell advises: "Embrace the struggle."
What happens if your key employee quits tomorrow?
That’s what Dan Martell, Chief Instigator and entrepreneurial coach, addresses in the latest Growth Stacking Show—in how to get through the struggles you're dealing with in your business without losing what you've built.
It’s about a positive mindset shift, and to highlight this, Dan tells the story of one of his coaching clients—one who lost his lead salesperson in an instant and subsequently entered panic mode. But with a mindset shift, he got back on the horse and three months later, he’s doubled his MRR.
So here’s where to start.
#1: Battles vs. wars
Oftentimes when we’re in the thick of things, we think we’re losing the war, but it’s really just the battle. If we zoom up a level and get perspective, we might see we’re winning at the war despite losing a small battle.
# 2: Embrace the struggle.
"The problems don't get smaller. We just get better... The more you grow businesses—Richard Branson, Elon Musk, etc.—they're not getting easier to build, they just become better."
# 3: Ask for help.
When times are rough, Dan says it’s most crucial to reach out, to get someone in your corner—to listen, to get perspective of what this means in the grand scheme, and to help you go through the list of options to execute and implement a strategy to get you out of that hole.
Dan’s passionate, raw, strong, and inspiring. And this is just a taste of the insight he can bring. So we're pumped to have him at Recur tomorrow—on core functional metrics to measure performance and accelerate growth—connecting our crew with the knowledge base that’s shaped so many entrepreneurs.
If you're in on the action, be sure to pull me aside and let's connect. If you're not Boston-bound, follow on social for a look on the inside. We're going full force into Recur, so we'll catch you back here with new Recur Now episodes on Monday.
And that’s a wrap for your December 11 subscription news. Recruit your teammates into the subscription know: recurnow.com.