Transcription
[Music] [Laughter] tears are here everybody. Let's go. So, school news Halloween edition membership tiers are here. Boom. So, it's currently live for everyone on both hobby and pro. And if you go to your group and you click on the settings and then pricing now, you'll see all of this. So, we basically have five business models now that you can run with your community. There's free, which is the default, and absolutely nothing changes here, right? Free is identical to what it was before. Subscription, which is a monthly annual or monthly and annual price, which is what we had before, right? Nothing's really different here. Then premium, which is free to join with one to two paid upgrade tiers. So, one has to be free. You can have a premium tier that you can set the price for, and you can have a VIP tier that you can set the price for. Right? Then tiers, which is two to three paid tiers, right? Standard, premium, VIP. You can set the prices like that. Um, you can just have two if you want or three. And then one time, which is just a one-time price, right? Yep. So, five different models that you can have now. And we introduced a feature that lets you unlock courses by tier. So, I'll show you what that looks like. If you go to classroom and you go to add a course, now you can you can see you've got all of these different unlock mechanisms. And if you go to private, you can select the tier. So I could unlock a course just for premium tier or VIP tier, right? You can also layer these on top of other unlock mechanisms. So you could unlock at level seven or unlock on premium tier, right? Nice. Same with buy now. Same with time unlock. Yeah. So you can do all of that. You can also unlock calendar events by tier. So if you go to your calendar and you go to add an event now, you'll see access down here. You can say all members members at level members on and then select the tier. Sick. Right. So that's what it looks like from the admin side. Now I'll just flip to the user side to show you what it might look like. So, I'm already inside this group, but if I go to classroom, I can see Pokemon advanced unlock with premium, Pokemon Pro, unlock with VIP. If I click on this, I still see this, but I can click unlock with premium. It takes me to this page where I can see what plan I'm on and I can upgrade like this, right? And then if I go to the calendar and I see this call on the calendar here, Pokemon Hangout unlock with premium, the button says unlock with premium. It takes me back here. So basically all these different places inside the community take you back to this plans page. You get Homozy's number for three bucks. Yep. Damn. Um what else was there? So you can unlock any benefit by tier as well. It's not just courses in calendar. For example, you could do services, software, events, coaching, merch, whatever you want. That's why when you're setting the benefits on your tiers, you just click add benefit and you type it in with text. So, you could say, you know, quarterly in-person events, right? Yep. Um, Hormosy's phone number, um, a Charizard t-shirt, all kinds of different things. A common one will be like, "We'll teach you Facebook ads for $50 or we'll run your Facebook ads for $500." I'm taking this mask off. Something like that. Um, yep. So, there we go. Oh, things just got a lot brighter now. Um, and you can see who's on what tier from the members list. So, if I go to my members list here, I can see this guy's on VIP. O, Joe Moss VIP. This guy's on premium, premium, VIP. And then old members that were just paying before you had this will just show like $1 a month or whatever. Nice. And you can now filter by tier. So I could just see the people on VIP. Boom. Wow. There's all my VIPs. That's a lot already. How much money am I making with this thing? Um, yeah. So, membership tiers, that's a highle overview. Now, we're going to like drill in and show you the two main models that people are interested in, premium and tears, because there's a few differences that make quite a big difference. Yep. So, with premium, which is this model here, the signup flow is identical to free. So, let's say I'm going to change to premium and I'm going to set this price to be like $1 or 10. And I might have a VIP that's like $2 and 20. I'm not going to bother adding any benefits. So, let's say I'm going to move to the premium model. Now, if I go to this other user account here, and I'm actually going to have to leave this group. Oh, and a cool little bonus. Now, when you go to cancel your membership, we show, are you sure you want to cancel? What about change your plan instead? And then if they click this, they can change their plan, right? That's insane. But I'm going to finish cancelling and then I'm going to just leave this group so I can show you exactly what it looks like. So, a premium group just appears free, right? It doesn't say it's paid at all. When you join the group, it is exactly the same as a free group. So, you could have membership questions there. I don't. And now this person is, you know, pending membership approval. I'll approve them. And now I'm inside, right? And now when I go to the classroom, I can see that there's things I have to upgrade. Yep. To get access to. So you don't know that there's a paid tier until you join. Yeah. And a good thing to think about here is a lot of software like I don't know notion or Calendarly or Zoom or Loom all the premium software products right when you sign up to them they're free and they're very useful as free products but then once you start to use them you realize that there's some paid upgrades. Yep. So, a premium group is pretty much a free group, but there's paid tiers once you get inside. And it's why we did it like this is the best part about free groups is their conversion rates. Free groups have like 20% plus conversion rates on the about page. We don't want to mess with that at all. You want to get the high, you want to take advantage of the high conversion rate, but still be able to upgrade people once they're inside. Yep. So, um, and then, yeah, members once they're inside, they can upgrade from courses, the calendar. So, if I go to view this event, says unlock with premium, right? Um, or their user settings. So now if a user goes to their settings, you can see that there's change plan available. Even though this is a free member, they can change plan. They click this and they see they're currently on free, but they can join premium or VIP. Yep. Plus a nice little pro tip. If you just link people to slash plans, they can view this page whenever. So you could have a pin post where you tell people how to do this or you could if you're DMing someone you could tell them this or if you're doing a webinar or a call. Yeah, it's very easy to get to. It's just your group/plans. Amazing. Yeah. So that is premium and I may as well just show I may as well complete an upgrade right now. I should go to advanced or premium. So once you click on you know we we show the monthly prices by default but when you click we show the annual too. If you only have annual prices we'll obviously show the annual prices right. So you can still do monthly and annual. And I'll join premium here plan change successful. Now I have access to this course and this calendar event, right? It just unlocked for me instantly. Yeah. Sick. And on premium there's no free trial because the free group is the free trial. Yep. Cuz it would be weird to be a free member and then also have a free trial. Um, now there's tiers. So, the difference between premium and tiers is on tiers when you go to join the group, you see something different. So, are you going to leave or Yeah. I'm going to show what that looks like. So, I currently set my pricing model to tiers here. I've already got them set up. Right. Then I'm going to go to this other one and I'm going to cancel the group log out and I'm going to use a different demo and then I'm going to go back to this group. Okay. So now I've set my this is a this is now on tiers. We show the lowest price as the group price. So you can see here $1 a month is the lowest price. Now the moment someone clicks this button, they are presented with the the tiers. Yes. Instantly. So if you've had a paid just a normal paid group before and you're moving to this, I would just be mindful that it could impact like the conversion rate. It might get better, but it could also get worse. It we don't know. This is a new feature. Um but people will be presented with the plans immediately when they click. So, it's very different to premium where it's just a free group and then they only learn about upgrading once they're inside. Yep. So, here I'm going to join on standard and there's monthly and annual. Oh crap, don't have a card on file. Um, but if I did have a card on file, I could join. Um, and then once inside, you can still choose to upgrade. Y the same way I showed you before. Yep. The main difference is just when you join on premium, you don't see this page. On Tears, you do see this page. Yep. And actually, I think I might have a if I try my demo too. This person is already inside. And so they, you know, this is now on the TE's model. They can still upgrade and do all of this. Yep. um from inside one the experience once they're inside is identical on premium and tiers. The only real difference is the sign up flow. Premium is identical to free. Tears immediately shows the tiers. Yep. Um and with tiers, you can use a free trial. So if you were to turn that on, I'm juggling a lot of different things here. So, let's say I turn this on. And now I go back to this page. And now I'm going to try it as what was that one again? Four. So, it says start free trial now. And then it says try for free on all of the different tiers. Right. Let's go. They can still select all this, put in their card. Yeah. And they get a free trial, 7 days. Yeah. And you only get one free trial, so someone can't abuse it. Yeah. And so that explains the differences between fremium and tears. Now, I'm sure a lot of you are wondering, you've got like a million questions. So here's the details, and I think this covers it all. Let's find out. So, what happens to existing free and paid members when you change models? This was a common question. So, like let's say your group's $100 a month on subscription and then you go to move it to tiers and you want to add a two more expensive plans, right? Well, what happens to all and then let's say you go into the classroom and the calendar and you I'm going to turn my free trial off because I can see some people cheeky signing up. Um, so let's say you now gate some courses and calendar events for these different tiers. Well, what happens to all of your previous paid members? You can see here I've got 177 of them. Well, here you can define what tier they're treated as basically. So in this case, I might treat all of my existing paid people as standard cuz my group used to be a dollar a month. So now you know that's that. And then how are you going to treat your existing free members? There's six. And I might just give them standard two or you can just give them nothing, right? Um and you can change this whenever you want. But this is a simple way to look after all of your existing members to make sure they're getting they're basically treated like they're on one of these tiers. Nice. Then with premium free members are obviously treated as free but previous paid members can be treated as a different tier too. Now cancel flow members are prompted to switch plans instead of cancelling. I already showed you that earlier. Um this is a cool little thing to reduce churn. Yeah cuz it's better if someone downgrades than churns. Still not ideal, but whatever. Um, now what happens to affiliate commissions with premium and tiers? This is cool. So, when you turn on affiliates like this, it just turns on for everything. It's just simple 40% across the board. So, if someone joins on $1 and I referred them, I get 40 cents. But let's say they upgrade to 10 later on, I still get 40%. I get 40% on anything so long as no matter what that member does, right? Yeah. I think the biggest difference is that the cookie is lifetime. So, if someone joins a free group with your affiliate link and then upgrades 6 months later, you still get commission, which is really cool because there wasn't really a strong incentive to be an affiliate for a free group before because you're not going to make any money. But now you can refer people to a free group and if they've got a paid tier then you get commission even though you just have to invite your friends to the free group. Yeah. So we have a 14day last touch attribution method on affiliates. Um but once they join whether they're a free member or a paid doesn't matter. We lock the referral. Yep. So now it's separate from a cookie. It doesn't matter what cookie they touch because it's locked. So if you're if you're using the premium model, right? and you turn and you've got paid tiers and you have affiliate commissions on, you could tell your members, hey, invite people for free and if they upgrade, you'll get that commission. Yes. Um, and people inside the group can't steal it off them because we lock that referral. Yeah. Um, how do you change price now? Cuz this UI is a little different. So, you know, before we used to show like a long list of prices, right? Now, it's a lot more simple. So, to change to set your price or to change your price, you just click on it. So, here I'm $1 a month. I could make it $1 a month or $10 per year. Change. It's just changed. Now, to set it as my model, I would have to click like save. And then to change it again, let's say I wanted to make it $2 or 20. change. We don't show that long list of prices anymore because it just we found that most people didn't need them. Yep. And it just was bloating the whole interface. And if you want to see your members on different prices, you can find it through the members tab. Yep. And then what happens to members on old prices when you change the price? Well, we grandfather all of those members on. So, if someone was paying $2 a month and then you changed it to 10, everyone that was paying two will still keep paying two. Yeah. Um, but there is something pretty cool here with this change, which I'll show you. So, I currently changed my price to $2 a month or $20 a year. And now if I go to like change my price as a user. Yeah. I can see the current price. So now on the slash plans page, members will always see the current price no matter what it is. So even though I'm paying this, which I'm grandfathered on this, the current price is this. I can still switch to it if I want to. Yep. Which is a big deal. And I'll explain why in a second. Um, yeah, this is it here. So, before and after. So, before members couldn't change price without leaving and joining again. Like, let's say you had a member and they were free. Yep. Then you changed your price. You wanted to set your price as 10 bucks. There was no way to get a free member to move to $10. Yep. Without kicking them out of the group and asking them to join again which is a lot of friction right So now like let's just flip to free for example and I will I see free right so if I I could just join free and now I'm on free so much better so I can see I'm on free now let's change the price to two bucks a month or 20 bucks a I can join, right? And boom. So the thing to be mindful of whatever your current price is is what people will see on the plans page. It allows so why this is important is let's say you had a free group and then you moved to paid and you want your free people to upgrade to paid. Now they can y right even without using tiers they can still do that. Or let's say you started at $5 a month but then you wanted to increase your price to $10 a month. Mhm. And you wanted those people to change to the higher price. Now you can. Or even if you had a $5 a month group and then you decided you wanted it to be free. Now they can before they'd have to leave and rejoin and now they just downgrade. So paid can move to free. And also, we have heard cases where some people want to lower their price, but they can't because all of their existing members are stuck paying more. Yep. And it doesn't feel right. Well, now they can. So, this allows people to move from free to paid, paid to free, low price to high price, high price to low price. It allows like people to do anything essentially. So, it fixes a huge limitation that we had in our system. Let's go. And then let's flip back to tiers. So members are prrated when upgrading tiers and switching to annual. Right? What that means is let's say I'm paying $1 a month and then I want to move to the $2 a month tier. We will take the unused time in that month and let's say you're halfway through the month. will credit 50 cents towards um towards this which means that members aren't penalized from for upgrading. Yes. Which is good. It makes it more um appealing I think. Yep. And then same goes for moving to um from monthly to annual. So let's say I'm going to join premium here on monthly. And now if I go to like let's say I go to my membership settings and I go change plan I can still switch to annual and save 17%. Or I can join VIP and move monthly or annual. Yep. So we do all of this prorating for you. It's kind of complicated but it you don't need to even worry about it. It just works. So yeah, that's why this took so damn long. um because you can do anything like change your price, change your model and it all just works. Um now to make way for this feature, we used to have a feature called annual unlock and it was in the classroom like when you were adding a course or editing a course, it was down here or members on annual. Basically, we had to remove that feature, annual unlock, to make the tears thing. Yep. Which is what I think that should have been from the beginning. 100%. Cuz annual unlock's very weird when you have three annuals, for example, like cuz if you've got an annual on each tier, right now, everyone who had bought an annual unlock course will still have access to it. So, no one's missing out on anything. Y but if you if you had baked into your training or your content somewhere where you said you know upgrade to annual to get this y that mechanism's gone now but if people do upgrade to annual you can still grant them access so you know you'll be fine and I think the best way to look at that is in any software if you upgrade from monthly to annual the incentive isn't more features it's a discount. Yeah. So, if you're on Zoom and you upgrade to annual or Calendarly or Google Drive or whatever, you don't get more features to get annual. You just get a discount. And that's the best incentive to give your members to upgrade to annual. Yep. And that's what we say here, like save 17%. Right. Or whatever your savings are. Yep. Yeah. Um, and school games, how does tiers work? Well, upgrades still count towards MR. So, let's say you've got a premium group and then you've got a paid tier. Let's say it's 50 bucks. When someone upgrades from free to paid, that 50 bucks counts towards your MR for the school games. Then, let's say in that same month they upgrade again and they pay another hundred bucks. That counts, too. So now you've got $150 in MR, but we still have the $100 handicap uh for school games, which basically means if you sell something that's $1,000 a month, we only count a h 100red towards the school games. So basically, nothing really changes with the school games, but you can still upgrades still count basically. Now, this is a lot of stuff to cover, like all of these details, and I just switch models like a hundred times between all the different things you could do for you. You don't need to do what I just did. Like, cuz that was crazy. That was just for a demonstration, right? Um, so I guess a warning like changing tiers and clicking around with this feature like is pretty dangerous especially if you have a paid group that has good MR. Yep. Like be careful clicking around in here cuz if you just click free and then save it now now your group's free and everyone can downgrade. Yeah. And people can downgrade from paid to free. Yep. Right. Um, and so yeah, be careful with this feature basically. Um, because it seems so simple in here. You're just clicking around. You're changing some things, but you're really making some big changes on the other side. Yep. And I will say that if you've got a paid group and it's doing really well, you might not need to change anything. Yes. Just because there's a new feature doesn't mean you have to use it. Yeah. I would be very careful if you have a paid group that's crashing. I would be careful changing that. Maybe you don't need to at all. You should really think about like what do you want to use with tiers. Yep. I think the most common one people will use is free groups. Just adding premium. It's not as risky because the sign up flow is identical. It's still a free group, but there is some paid things inside. Yep. And maybe someone might have a a paid group and they add a a higher price tier. Yeah. The other thing is like if you have 10 members, you don't need to have three tiers. You can start with one tier, get that going, and then add a second tier six months or a year later. Like school was $99 a month for five years, and then it introduced a second tier of $9 a month once the $99 a month was stable and everything. So, this feature is amazing, but you don't have to use it. Yeah. So, I'm going to change the tiers to wrap this up. Oh, and cool little feature. You can click preview here on premium and tears to see what this page looks like and that takes you to the plans link that you can send in posts and comments. Yeah. So, you can add your benefits like this and see exactly what it looks like for people. Very cool. And when they click this, you can see what it looks like too. Let's go. So, this is a huge feature. I think this is the biggest feature we ever shipped, honestly. like in terms of lines of code and everything. Um, it's huge and it really opens up so many different possibilities on school. You can do almost anything now in terms of business models and pricing. Yep. Shout out to the engineers. Yep. Good work, money team. Now enjoy. Boom. Say night up.