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Listener Q: Pricing Models and Churn Rates for Memberships · Build With Becky: Smart Strategies To Grow Your Community-Driven Business

• 0:00
  Today
• 0:00
  I
• 0:00
  have
• 0:01
  a
• 0:01
  two
• 0:01
  part
• 0:01
  question
• 0:02
  from
• 0:02
  my
• 0:03
  friend
• 0:03
  Cheyenne.
• 0:04
  So
• 0:04
  she
• 0:04
  asked
• 0:05
  what
• 0:05
  is
• 0:05
  a
• 0:05
  normal
• 0:06
  churn
• 0:06
  rate
• 0:06
  for
• 0:06
  a
• 0:06
  membership?
• 0:07
  And
• 0:08
  she
• 0:08
  also
• 0:08
  asked
• 0:08
  do
• 0:08
  you
• 0:09
  like
• 0:09
  quarterly
• 0:09
  or
• 0:10
  monthly
• 0:10
  pricing
• 0:10
  options
• 0:11
  for
• 0:11
  low
• 0:11
  ticket
• 0:11
  memberships,
• 0:12
  which
• 0:12
  would
• 0:12
  be
• 0:13
  side
• 0:13
  by
• 0:13
  side
• 0:13
  with
• 0:13
  annual.
• 0:14
  So
• 0:15
  I'm
• 0:15
  actually
• 0:15
  going
• 0:15
  to
• 0:15
  start
• 0:16
  with
• 0:16
  the
• 0:17
  pricing
• 0:17
  model
• 0:18
  question
• 0:18
  because
• 0:19
  that
• 0:19
  will
• 0:19
  inform
• 0:20
  churn
• 0:20
  rate.
• 0:21
  So
• 0:22
  with
• 0:22
  it
• 0:23
  doesn't
• 0:23
  really
• 0:23
  matter
• 0:23
  if
• 0:24
  it's
• 0:24
  a
• 0:24
  low
• 0:24
  ticket
• 0:24
  membership
• 0:25
  or
• 0:25
  a
• 0:25
  high
• 0:25
  ticket
• 0:25
  membership
• 0:26
  or
• 0:26
  whatever,
• 0:26
  like
• 0:26
  what
• 0:27
  the
• 0:27
  pricing
• 0:27
  is,
• 0:28
  what
• 0:28
  matters
• 0:29
  as
• 0:29
  far
• 0:29
  as
• 0:30
  far
• 0:30
  as
• 0:30
  like
• 0:31
  which
• 0:31
  pricing
• 0:31
  model
• 0:32
  you
• 0:32
  should
• 0:32
  go
• 0:32
  with.
• 0:33
  But
• 0:33
  what
• 0:33
  matters
• 0:34
  the
• 0:34
  most
• 0:35
  is
• 0:35
  that
• 0:36
  we're
• 0:36
  thinking
• 0:37
  through
• 0:37
  what
• 0:38
  is
• 0:38
  the
• 0:38
  transformation
• 0:39
  and
• 0:39
  what
• 0:40
  is
• 0:40
  the
• 0:40
  term
• 0:40
  of
• 0:41
  that
• 0:41
  transformation.
• 0:42
  So
• 0:42
  for
• 0:42
  example,
• 0:43
  if
• 0:43
  there
• 0:43
  is
• 0:44
  no
• 0:44
  way
• 0:44
  for
• 0:45
  somebody
• 0:45
  to
• 0:45
  have
• 0:46
  a
• 0:47
  really
• 0:47
  clear
• 0:49
  experience
• 0:49
  like
• 0:50
  when
• 0:50
  transformation
• 0:51
  goal
• 0:52
  is
• 0:52
  hit
• 0:52
  or
• 0:53
  anything
• 0:53
  in
• 0:53
  one
• 0:54
  month
• 0:55
  or
• 0:55
  even
• 0:55
  two
• 0:56
  months,
• 0:56
  then
• 0:56
  I'm
• 0:57
  not
• 0:57
  sure
• 0:57
  it
• 0:57
  makes
• 0:58
  sense
• 0:58
  to
• 0:58
  have
• 0:59
  a
• 0:59
  monthly
• 0:59
  price.
• 1:00
  Because
• 1:00
  if
• 1:00
  people
• 1:01
  are
• 1:01
  coming
• 1:01
  in
• 1:02
  and
• 1:02
  they
• 1:02
  are
• 1:03
  saying,
• 1:03
  you
• 1:04
  know,
• 1:04
  hey
• 1:05
  I'm
• 1:05
  ready,
• 1:05
  I'm,
• 1:06
  I'm
• 1:06
  committing
• 1:06
  to
• 1:06
  do
• 1:06
  this
• 1:07
  thing,
• 1:07
  they
• 1:07
  do
• 1:08
  it
• 1:08
  for
• 1:08
  one
• 1:08
  month
• 1:08
  and
• 1:09
  they're
• 1:09
  like,
• 1:09
  I
• 1:09
  don't
• 1:09
  see
• 1:09
  any
• 1:09
  result,
• 1:10
  I'm
• 1:10
  out.
• 1:11
  By
• 1:11
  having
• 1:11
  a
• 1:11
  monthly
• 1:12
  price
• 1:12
  tag,
• 1:12
  you're
• 1:13
  almost
• 1:13
  creating
• 1:13
  this
• 1:14
  like
• 1:14
  idea
• 1:15
  in
• 1:15
  their
• 1:15
  head
• 1:15
  that
• 1:15
  it's
• 1:16
  something
• 1:16
  that
• 1:16
  they
• 1:16
  can
• 1:16
  actually
• 1:16
  accomplish
• 1:17
  in
• 1:17
  a
• 1:17
  month.
• 1:18
  So
• 1:18
  when
• 1:18
  you're
• 1:19
  deciding
• 1:19
  does
• 1:19
  a
• 1:19
  monthly
• 1:20
  price
• 1:20
  option
• 1:21
  make
• 1:21
  sense?
• 1:21
  Think
• 1:21
  about
• 1:22
  can
• 1:22
  they
• 1:22
  get
• 1:22
  results
• 1:23
  in
• 1:23
  a
• 1:23
  month
• 1:23
  and
• 1:24
  is
• 1:24
  a,
• 1:24
  is
• 1:24
  like
• 1:24
  a
• 1:25
  monthly
• 1:25
  opportunity
• 1:27
  makes
• 1:27
  sense
• 1:27
  here
• 1:28
  because
• 1:28
  it's
• 1:28
  going
• 1:29
  to,
• 1:29
  they're
• 1:29
  going
• 1:29
  to
• 1:29
  be
• 1:29
  able
• 1:30
  to
• 1:30
  get
• 1:30
  some
• 1:30
  sort
• 1:30
  of
• 1:30
  value
• 1:30
  or
• 1:31
  result
• 1:31
  in
• 1:31
  a
• 1:31
  singular
• 1:32
  month
• 1:32
  and
• 1:33
  because
• 1:33
  they
• 1:33
  get
• 1:33
  that
• 1:34
  singular
• 1:34
  that
• 1:34
  result,
• 1:35
  they
• 1:35
  want
• 1:35
  to
• 1:35
  keep
• 1:35
  getting
• 1:35
  that
• 1:36
  and
• 1:36
  so
• 1:36
  they're
• 1:36
  going
• 1:36
  to
• 1:36
  stick
• 1:37
  around
• 1:37
  then
• 1:37
  great.
• 1:38
  But
• 1:38
  if
• 1:39
  this
• 1:39
  is
• 1:39
  something
• 1:39
  that
• 1:40
  is
• 1:40
  a
• 1:40
  really
• 1:40
  long
• 1:40
  term
• 1:41
  transformational
• 1:42
  experience,
• 1:43
  then
• 1:43
  you
• 1:43
  might
• 1:44
  want
• 1:44
  to
• 1:44
  consider
• 1:44
  just
• 1:44
  annual
• 1:45
  only.
• 1:46
  The
• 1:47
  other
• 1:47
  thing
• 1:47
  is
• 1:47
  if
• 1:47
  it's
• 1:47
  a
• 1:48
  peer
• 1:48
  community
• 1:48
  experience
• 1:49
  at
• 1:49
  all,
• 1:49
  like
• 1:49
  if
• 1:50
  there's
• 1:50
  a
• 1:50
  lot
• 1:50
  of
• 1:50
  connection
• 1:51
  happening
• 1:51
  to,
• 1:52
  then
• 1:52
  you
• 1:52
  wanna
• 1:52
  be
• 1:52
  careful
• 1:52
  about
• 1:53
  monthly
• 1:53
  experiences
• 1:54
  because
• 1:54
  people
• 1:54
  come
• 1:54
  in
• 1:55
  and
• 1:55
  then
• 1:55
  can
• 1:55
  churn
• 1:55
  out
• 1:56
  really
• 1:56
  quickly.
• 1:56
  So
• 1:56
  if
• 1:56
  they're
• 1:57
  coming
• 1:57
  in,
• 1:57
  they're
• 1:57
  introducing
• 1:58
  themselves,
• 1:58
  they're
• 1:58
  connecting
• 1:58
  with
• 1:59
  people,
• 1:59
  maybe
• 1:59
  they're
• 2:00
  joining
• 2:00
  an
• 2:00
  accountability
• 2:01
  group
• 2:01
  and
• 2:01
  then
• 2:01
  they
• 2:01
  leave
• 2:02
  the
• 2:02
  next
• 2:02
  month.
• 2:02
  That's
• 2:03
  a
• 2:03
  really
• 2:03
  bad
• 2:03
  experience
• 2:04
  for
• 2:04
  other
• 2:04
  members.
• 2:05
  So
• 2:05
  for
• 2:05
  that
• 2:05
  reason
• 2:06
  I
• 2:06
  also
• 2:06
  don't
• 2:06
  like
• 2:06
  monthly
• 2:07
  in
• 2:07
  any
• 2:08
  kind
• 2:08
  of
• 2:08
  like
• 2:08
  peer
• 2:08
  to
• 2:09
  peer
• 2:09
  community
• 2:09
  experience
• 2:10
  most
• 2:11
  of
• 2:11
  the
• 2:11
  time.
• 2:11
  I'm
• 2:11
  not
• 2:12
  a
• 2:12
  huge
• 2:12
  fan
• 2:12
  of
• 2:12
  quarterly
• 2:13
  either.
• 2:13
  Here's
• 2:14
  why.
• 2:14
  If
• 2:15
  you
• 2:15
  have
• 2:15
  a
• 2:15
  monthly
• 2:16
  option
• 2:17
  and
• 2:17
  that
• 2:17
  monthly
• 2:18
  option
• 2:19
  is,
• 2:19
  is
• 2:19
  being
• 2:19
  canceled
• 2:20
  in
• 2:20
  the
• 2:20
  first
• 2:20
  three
• 2:20
  months,
• 2:21
  that's
• 2:21
  a
• 2:21
  pretty
• 2:21
  big
• 2:21
  red
• 2:22
  flag
• 2:22
  to
• 2:22
  me.
• 2:22
  So
• 2:22
  when
• 2:23
  we
• 2:23
  look
• 2:23
  at
• 2:23
  like
• 2:23
  a
• 2:23
  retention
• 2:23
  chart,
• 2:24
  if
• 2:24
  we're
• 2:24
  seeing
• 2:25
  a
• 2:25
  lot
• 2:25
  of
• 2:25
  cancellations
• 2:26
  in
• 2:26
  months
• 2:26
  one
• 2:26
  through
• 2:27
  three,
• 2:27
  then
• 2:28
  we
• 2:28
  have
• 2:28
  a
• 2:28
  problem
• 2:29
  and
• 2:29
  there's
• 2:29
  something
• 2:29
  to
• 2:29
  fix
• 2:30
  about
• 2:30
  the
• 2:30
  experience
• 2:31
  so
• 2:31
  that
• 2:31
  people
• 2:31
  want
• 2:31
  to
• 2:32
  stick
• 2:32
  around
• 2:32
  longer
• 2:32
  than
• 2:32
  that.
• 2:33
  And
• 2:33
  typically
• 2:34
  what
• 2:34
  I'd
• 2:34
  like
• 2:34
  to
• 2:34
  see
• 2:34
  is
• 2:35
  drop
• 2:35
  off
• 2:35
  to
• 2:35
  really
• 2:36
  start,
• 2:36
  you
• 2:36
  know,
• 2:37
  in
• 2:37
  month
• 2:37
  five.
• 2:38
  Now
• 2:38
  it's
• 2:38
  typical
• 2:39
  that
• 2:39
  drop
• 2:40
  off
• 2:40
  is
• 2:40
  going
• 2:40
  to
• 2:40
  start
• 2:41
  at
• 2:41
  month
• 2:41
  three.
• 2:42
  And
• 2:42
  so
• 2:43
  but
• 2:43
  you
• 2:43
  will
• 2:44
  get
• 2:44
  a
• 2:44
  lot
• 2:44
  of
• 2:44
  people
• 2:44
  that
• 2:45
  go
• 2:45
  to
• 2:45
  month
• 2:45
  four
• 2:45
  and
• 2:46
  month
• 2:46
  five.
• 2:46
  And
• 2:46
  this
• 2:46
  has
• 2:46
  a
• 2:46
  lot
• 2:47
  to
• 2:47
  do
• 2:47
  with,
• 2:47
  just
• 2:47
  as
• 2:48
  humans,
• 2:48
  we
• 2:48
  operate
• 2:48
  on
• 2:49
  like
• 2:49
  a
• 2:49
  90
• 2:49
  day
• 2:49
  cycle.
• 2:50
  We
• 2:50
  get
• 2:50
  bored,
• 2:50
  we
• 2:50
  move
• 2:51
  on,
• 2:51
  we
• 2:52
  reached
• 2:52
  the
• 2:52
  goal,
• 2:53
  we
• 2:53
  worked
• 2:53
  on
• 2:53
  the
• 2:53
  thing,
• 2:53
  and
• 2:53
  now
• 2:54
  we
• 2:54
  have
• 2:54
  a
• 2:54
  new
• 2:54
  interest
• 2:55
  or
• 2:55
  a
• 2:55
  new
• 2:55
  goal
• 2:55
  or
• 2:56
  a
• 2:56
  new
• 2:56
  problem
• 2:56
  in
• 2:57
  our
• 2:57
  lives
• 2:57
  that
• 2:57
  we're
• 2:57
  solving.
• 2:58
  And
• 2:58
  so
• 2:58
  we
• 2:59
  have
• 2:59
  this
• 2:59
  like
• 2:59
  quarterly
• 3:00
  rhythm
• 3:00
  already.
• 3:01
  So
• 3:01
  by
• 3:02
  forcing
• 3:03
  a
• 3:03
  quarterly
• 3:03
  pricing
• 3:04
  model,
• 3:04
  you're
• 3:04
  almost
• 3:04
  giving
• 3:05
  them
• 3:05
  this
• 3:05
  opportunity
• 3:06
  to
• 3:06
  say,
• 3:07
  like,
• 3:07
  yeah,
• 3:07
  I'm
• 3:07
  going
• 3:07
  to
• 3:07
  do
• 3:07
  this
• 3:08
  for
• 3:08
  a
• 3:08
  quarter
• 3:08
  and
• 3:09
  then
• 3:09
  I'm
• 3:09
  out.
• 3:09
  So
• 3:09
  you're
• 3:09
  losing
• 3:10
  out
• 3:10
  on
• 3:10
  a
• 3:10
  lot
• 3:10
  of
• 3:10
  people
• 3:11
  that
• 3:11
  would
• 3:11
  have
• 3:11
  stuck
• 3:11
  around
• 3:11
  for
• 3:12
  those
• 3:12
  like
• 3:12
  four
• 3:12
  or
• 3:12
  five
• 3:13
  or
• 3:13
  six
• 3:13
  months.
• 3:14
  And
• 3:14
  so
• 3:15
  you
• 3:16
  might
• 3:16
  like
• 3:16
  lose
• 3:16
  some
• 3:17
  revenue
• 3:17
  on
• 3:17
  that
• 3:18
  by
• 3:18
  making
• 3:18
  that
• 3:18
  choice.
• 3:19
  So
• 3:19
  my
• 3:19
  point
• 3:20
  is,
• 3:20
  if
• 3:20
  you
• 3:21
  have
• 3:21
  a
• 3:21
  monthly
• 3:21
  option,
• 3:22
  you
• 3:22
  should
• 3:23
  be
• 3:23
  getting
• 3:23
  at
• 3:23
  least
• 3:23
  three
• 3:23
  months
• 3:24
  of
• 3:24
  a
• 3:24
  monthly
• 3:25
  revenue
• 3:26
  from
• 3:26
  that
• 3:26
  monthly
• 3:27
  option.
• 3:27
  And
• 3:27
  so
• 3:28
  a
• 3:28
  lot
• 3:28
  of
• 3:28
  them
• 3:28
  will
• 3:28
  continue
• 3:29
  on
• 3:29
  beyond
• 3:30
  that
• 3:30
  to
• 3:30
  four
• 3:30
  or
• 3:31
  five
• 3:31
  months.
• 3:31
  But
• 3:31
  if
• 3:31
  you
• 3:32
  have
• 3:32
  a
• 3:32
  quarterly
• 3:32
  option
• 3:33
  a
• 3:33
  lot,
• 3:33
  you're
• 3:33
  going
• 3:33
  to
• 3:33
  have
• 3:33
  a
• 3:34
  higher
• 3:34
  cancellation
• 3:34
  rate
• 3:34
  at
• 3:35
  three
• 3:35
  months.
• 3:35
  So
• 3:35
  you
• 3:35
  might
• 3:35
  lose
• 3:36
  more
• 3:36
  of
• 3:36
  those
• 3:36
  people.
• 3:37
  Hopefully
• 3:37
  that
• 3:37
  makes
• 3:37
  sense.
• 3:38
  So
• 3:38
  I'm
• 3:38
  not
• 3:39
  a
• 3:39
  huge
• 3:39
  fan
• 3:39
  of
• 3:39
  quarterly,
• 3:40
  but
• 3:40
  there
• 3:40
  are
• 3:41
  a
• 3:41
  couple
• 3:41
  of
• 3:42
  times
• 3:43
  where
• 3:43
  I've
• 3:44
  been
• 3:44
  good
• 3:44
  with
• 3:44
  it.
• 3:45
  Like
• 3:45
  one
• 3:45
  time
• 3:45
  I
• 3:45
  was
• 3:46
  working
• 3:46
  with
• 3:46
  a
• 3:46
  client
• 3:46
  who
• 3:47
  had
• 3:48
  a
• 3:49
  health
• 3:49
  and
• 3:50
  wellness
• 3:51
  food
• 3:52
  offer,
• 3:53
  membership
• 3:53
  offer,
• 3:54
  and
• 3:54
  she
• 3:55
  was
• 3:55
  doing
• 3:55
  something
• 3:55
  that
• 3:55
  was
• 3:55
  a
• 3:56
  very
• 3:56
  seasonal.
• 3:56
  So
• 3:56
  it
• 3:57
  was
• 3:57
  like
• 3:57
  a
• 3:57
  seasonal
• 3:57
  experience
• 3:58
  every
• 3:58
  season.
• 3:59
  And
• 3:59
  so
• 3:59
  essentially
• 3:59
  she's
• 4:00
  saying
• 4:00
  like,
• 4:00
  you're
• 4:00
  paying
• 4:00
  for
• 4:00
  the
• 4:01
  season.
• 4:01
  And
• 4:02
  so
• 4:02
  it
• 4:02
  was
• 4:02
  a
• 4:02
  quarterly
• 4:03
  pricing
• 4:03
  model
• 4:03
  because
• 4:03
  you're
• 4:03
  paying
• 4:04
  for
• 4:04
  the
• 4:04
  seasonal
• 4:04
  experience.
• 4:05
  And
• 4:05
  so
• 4:05
  that
• 4:05
  made
• 4:06
  a
• 4:06
  lot
• 4:06
  of
• 4:06
  sense
• 4:06
  to
• 4:06
  me.
• 4:07
  And
• 4:07
  so
• 4:07
  we
• 4:08
  went
• 4:08
  with
• 4:08
  quarterly
• 4:08
  pricing
• 4:09
  or
• 4:09
  annual
• 4:09
  pricing
• 4:10
  for
• 4:10
  hers.
• 4:11
  Now
• 4:11
  with
• 4:11
  all
• 4:11
  of
• 4:12
  this
• 4:12
  said,
• 4:13
  let's
• 4:13
  say
• 4:14
  you're
• 4:14
  like,
• 4:14
  okay,
• 4:14
  Becky,
• 4:15
  but
• 4:15
  I
• 4:15
  really
• 4:15
  wanted
• 4:16
  anchor
• 4:16
  pricing,
• 4:16
  which
• 4:17
  I
• 4:17
  love
• 4:17
  anchor
• 4:17
  pricing.
• 4:18
  Cheyenne
• 4:18
  and
• 4:18
  I
• 4:18
  talk
• 4:19
  about
• 4:19
  anchor
• 4:19
  pricing
• 4:19
  a
• 4:19
  lot.
• 4:20
  So
• 4:20
  let's
• 4:20
  say
• 4:21
  you
• 4:21
  only
• 4:21
  want
• 4:21
  to
• 4:21
  do
• 4:22
  an
• 4:22
  annual
• 4:22
  offer,
• 4:23
  annual
• 4:23
  pricing,
• 4:24
  then
• 4:24
  what
• 4:25
  you
• 4:25
  can
• 4:25
  do
• 4:25
  with
• 4:25
  your
• 4:25
  anchor
• 4:26
  price,
• 4:26
  which
• 4:27
  if
• 4:27
  you're
• 4:27
  not
• 4:27
  familiar
• 4:28
  with
• 4:28
  anchor
• 4:28
  pricing.
• 4:28
  It's
• 4:28
  essentially
• 4:29
  like
• 4:29
  you
• 4:29
  have,
• 4:30
  you're
• 4:30
  showing
• 4:30
  two
• 4:31
  prices
• 4:31
  to
• 4:31
  the
• 4:31
  end
• 4:32
  customer
• 4:32
  to
• 4:33
  decide
• 4:33
  between,
• 4:33
  which
• 4:33
  is
• 4:34
  really
• 4:34
  great
• 4:34
  for
• 4:34
  like
• 4:34
  binary
• 4:35
  choice.
• 4:35
  They're
• 4:35
  saying
• 4:35
  two
• 4:36
  choices
• 4:37
  and
• 4:37
  they're.
• 4:38
  So
• 4:38
  we're
• 4:38
  not
• 4:38
  creating
• 4:39
  a
• 4:39
  lot
• 4:39
  of
• 4:39
  decision
• 4:39
  friction.
• 4:40
  There's
• 4:40
  only
• 4:40
  two
• 4:41
  choices
• 4:41
  to
• 4:41
  choose
• 4:41
  from
• 4:42
  and
• 4:42
  then
• 4:42
  one
• 4:43
  of
• 4:43
  them
• 4:43
  is
• 4:43
  priced
• 4:44
  higher
• 4:44
  than
• 4:44
  the
• 4:44
  other.
• 4:44
  Obviously.
• 4:45
  Obviously.
• 4:45
  And
• 4:45
  because
• 4:46
  of
• 4:46
  that
• 4:46
  your,
• 4:47
  your
• 4:47
  low
• 4:48
  price
• 4:48
  point
• 4:48
  provides
• 4:49
  an
• 4:49
  anchor
• 4:49
  price
• 4:50
  or
• 4:50
  your
• 4:50
  high
• 4:50
  price
• 4:50
  point,
• 4:51
  sorry
• 4:51
  provides
• 4:51
  an
• 4:51
  anchor
• 4:52
  price
• 4:52
  that
• 4:52
  makes
• 4:53
  your
• 4:53
  lower
• 4:53
  price
• 4:53
  point
• 4:53
  look
• 4:54
  less
• 4:55
  expensive.
• 4:55
  So
• 4:56
  let's
• 4:56
  say
• 4:56
  you
• 4:56
  have
• 4:56
  like
• 4:56
  a
• 4:56
  VIP
• 4:57
  option
• 4:57
  or
• 4:57
  a
• 4:57
  regular
• 4:58
  option.
• 4:58
  We
• 4:58
  see
• 4:58
  this
• 4:58
  even
• 4:59
  like
• 4:59
  in
• 4:59
  going
• 4:59
  to
• 4:59
  concerts,
• 5:00
  right?
• 5:00
  There's
• 5:00
  like
• 5:01
  the
• 5:01
  regular
• 5:01
  ticket,
• 5:01
  the
• 5:02
  general
• 5:02
  admission
• 5:02
  and
• 5:03
  then
• 5:03
  there's
• 5:03
  the
• 5:03
  vip.
• 5:04
  The
• 5:04
  VIP
• 5:04
  is
• 5:04
  so
• 5:05
  expensive.
• 5:05
  While
• 5:05
  that
• 5:05
  general
• 5:05
  admission
• 5:06
  is
• 5:06
  a
• 5:06
  great
• 5:06
  deal,
• 5:07
  I
• 5:07
  will
• 5:07
  take
• 5:07
  it.
• 5:07
  And
• 5:08
  that's
• 5:08
  like
• 5:08
  the
• 5:08
  whole
• 5:09
  brain
• 5:10
  chemistry
• 5:11
  idea
• 5:11
  that,
• 5:11
  that
• 5:11
  comes
• 5:11
  from
• 5:12
  this.
• 5:12
  And
• 5:12
  so
• 5:13
  I'm
• 5:13
  a
• 5:13
  big
• 5:14
  fan
• 5:14
  of
• 5:14
  having
• 5:15
  two
• 5:15
  prices.
• 5:16
  And
• 5:17
  the
• 5:17
  one
• 5:17
  thing
• 5:17
  I'll
• 5:18
  say
• 5:18
  about
• 5:18
  annual
• 5:18
  model
• 5:19
  with
• 5:19
  different
• 5:19
  pricing
• 5:20
  is
• 5:20
  try
• 5:20
  not
• 5:21
  well,
• 5:21
  do
• 5:21
  your
• 5:22
  best
• 5:22
  not
• 5:22
  to
• 5:22
  gatekeep
• 5:23
  information
• 5:23
  that
• 5:23
  they
• 5:23
  need
• 5:24
  to
• 5:24
  have
• 5:24
  the
• 5:24
  transformation.
• 5:25
  So
• 5:25
  what
• 5:25
  I
• 5:26
  mean
• 5:26
  by
• 5:26
  that
• 5:26
  is
• 5:26
  don't
• 5:26
  lock
• 5:27
  the
• 5:27
  important
• 5:28
  curriculum
• 5:28
  or
• 5:28
  templates
• 5:29
  in
• 5:29
  the
• 5:29
  higher
• 5:29
  tier,
• 5:31
  but
• 5:31
  you
• 5:31
  might
• 5:31
  add
• 5:32
  on
• 5:32
  a
• 5:32
  more
• 5:32
  high
• 5:33
  touch
• 5:33
  experience.
• 5:33
  So
• 5:33
  I
• 5:34
  always
• 5:34
  think
• 5:34
  about
• 5:34
  it
• 5:34
  in
• 5:34
  the
• 5:34
  mindset
• 5:35
  of
• 5:35
  what
• 5:35
  is
• 5:35
  a
• 5:35
  higher
• 5:36
  service.
• 5:37
  So
• 5:37
  in
• 5:37
  the
• 5:37
  higher
• 5:37
  tier
• 5:38
  we're
• 5:38
  adding
• 5:38
  more
• 5:39
  service
• 5:39
  on
• 5:39
  than
• 5:39
  the
• 5:40
  lower
• 5:40
  tier.
• 5:40
  A
• 5:40
  really
• 5:40
  simple
• 5:41
  way
• 5:41
  to
• 5:41
  think
• 5:41
  about
• 5:41
  this
• 5:42
  is
• 5:42
  that
• 5:42
  in
• 5:43
  a
• 5:43
  higher
• 5:43
  tier
• 5:43
  you
• 5:43
  might
• 5:44
  offer
• 5:45
  one
• 5:45
  to
• 5:45
  one
• 5:46
  support
• 5:46
  or
• 5:47
  strategy
• 5:48
  calls
• 5:48
  or
• 5:48
  something
• 5:49
  like
• 5:49
  that
• 5:49
  in
• 5:49
  addition
• 5:49
  to
• 5:50
  everything
• 5:50
  that
• 5:50
  they're
• 5:50
  going
• 5:51
  to
• 5:51
  get
• 5:51
  in
• 5:51
  the
• 5:51
  lower
• 5:51
  tier.
• 5:53
  Now
• 5:53
  Cheyenne
• 5:53
  asked
• 5:54
  specifically
• 5:55
  about
• 5:55
  low
• 5:55
  ticket
• 5:56
  memberships.
• 5:57
  So
• 5:57
  I'm
• 5:58
  thinking
• 5:58
  about
• 5:58
  like,
• 5:58
  especially
• 5:59
  for
• 5:59
  subscription
• 6:00
  models
• 6:01
  because
• 6:02
  if
• 6:02
  it's
• 6:02
  a
• 6:02
  low
• 6:02
  ticket,
• 6:03
  it's
• 6:03
  probably
• 6:03
  more
• 6:03
  like
• 6:04
  a
• 6:04
  content
• 6:04
  subscription
• 6:05
  than
• 6:05
  it
• 6:05
  is
• 6:06
  more
• 6:06
  of
• 6:06
  a
• 6:07
  peer
• 6:07
  to
• 6:07
  peer
• 6:07
  led,
• 6:08
  like
• 6:08
  transformation
• 6:09
  driven
• 6:09
  membership
• 6:10
  experience.
• 6:10
  And
• 6:11
  if
• 6:11
  it
• 6:11
  is
• 6:11
  that,
• 6:12
  then
• 6:12
  it
• 6:12
  probably
• 6:12
  shouldn't
• 6:13
  be
• 6:13
  low
• 6:13
  ticket
• 6:13
  and
• 6:13
  we
• 6:13
  should
• 6:14
  chat
• 6:14
  about
• 6:14
  this.
• 6:15
  Um,
• 6:15
  but
• 6:15
  if
• 6:15
  it's
• 6:16
  more
• 6:16
  like
• 6:16
  content
• 6:16
  subscription,
• 6:17
  then
• 6:18
  yeah,
• 6:18
  monthly
• 6:19
  pricing
• 6:19
  option
• 6:20
  often
• 6:20
  makes
• 6:20
  sense
• 6:21
  for,
• 6:21
  for
• 6:21
  that
• 6:21
  like
• 6:22
  we
• 6:22
  want
• 6:22
  to
• 6:22
  get
• 6:23
  them
• 6:23
  like
• 6:23
  quick
• 6:23
  wins
• 6:24
  by.
• 6:24
  They're
• 6:24
  able
• 6:24
  to
• 6:25
  consume
• 6:25
  some
• 6:25
  content
• 6:25
  that
• 6:25
  they're
• 6:26
  really
• 6:26
  enjoying
• 6:26
  and
• 6:26
  then
• 6:26
  they
• 6:26
  want
• 6:27
  to
• 6:27
  keep,
• 6:27
  keep
• 6:27
  on
• 6:27
  it.
• 6:28
  Think
• 6:28
  like
• 6:28
  Netflix,
• 6:29
  right?
• 6:29
  Like
• 6:30
  you
• 6:30
  join
• 6:30
  your
• 6:31
  subscription
• 6:32
  for
• 6:33
  your
• 6:33
  streaming
• 6:34
  service.
• 6:34
  You
• 6:34
  start
• 6:35
  watching
• 6:35
  a
• 6:35
  show
• 6:35
  now
• 6:36
  you're
• 6:36
  hooked,
• 6:36
  you're
• 6:36
  gonna
• 6:36
  keep
• 6:37
  paying
• 6:37
  for
• 6:37
  it
• 6:37
  month
• 6:37
  after
• 6:37
  month.
• 6:38
  We
• 6:38
  worked
• 6:39
  with
• 6:39
  Spirit
• 6:39
  Daughter
• 6:40
  to
• 6:40
  build
• 6:41
  out
• 6:41
  their.
• 6:42
  Not
• 6:42
  build
• 6:42
  it,
• 6:42
  but
• 6:42
  Plan
• 6:43
  their
• 6:43
  strategy
• 6:44
  for
• 6:44
  their
• 6:44
  meditation
• 6:45
  app.
• 6:45
  And
• 6:45
  this
• 6:46
  is
• 6:46
  a
• 6:46
  low
• 6:47
  app
• 6:47
  because
• 6:48
  it's
• 6:48
  for
• 6:48
  ongoing
• 6:49
  meditations.
• 6:49
  And
• 6:50
  Jill,
• 6:50
  the
• 6:51
  founder,
• 6:51
  is
• 6:51
  able
• 6:51
  to
• 6:51
  drop
• 6:51
  new
• 6:52
  meditations
• 6:52
  in
• 6:52
  there.
• 6:52
  But
• 6:53
  it
• 6:53
  made
• 6:53
  a
• 6:53
  lot
• 6:53
  of
• 6:53
  sense
• 6:53
  for
• 6:54
  that
• 6:54
  to
• 6:54
  be
• 6:54
  a
• 6:54
  low
• 6:54
  ticket
• 6:55
  monthly
• 6:55
  experience,
• 6:55
  monthly
• 6:56
  or
• 6:56
  annual,
• 6:56
  to
• 6:57
  save
• 6:57
  money
• 6:57
  on
• 6:57
  the
• 6:57
  annual
• 6:58
  pricing.
• 6:59
  Because
• 6:59
  this
• 7:00
  is
• 7:00
  something
• 7:00
  that
• 7:01
  she
• 7:01
  has
• 7:01
  a
• 7:02
  huge,
• 7:02
  huge
• 7:02
  audience,
• 7:02
  over
• 7:03
  2
• 7:03
  million
• 7:03
  people.
• 7:04
  And
• 7:04
  so
• 7:04
  she's
• 7:04
  reaching
• 7:05
  a
• 7:05
  lot
• 7:05
  of
• 7:05
  people.
• 7:05
  Low
• 7:05
  ticket
• 7:06
  membership,
• 7:06
  content
• 7:07
  subscription
• 7:07
  makes
• 7:08
  a
• 7:08
  lot
• 7:08
  of
• 7:08
  sense
• 7:08
  for
• 7:08
  her
• 7:08
  from
• 7:09
  a
• 7:09
  product
• 7:09
  strategy
• 7:09
  standpoint.
• 7:10
  And
• 7:11
  because
• 7:11
  it's
• 7:12
  more
• 7:12
  of
• 7:12
  that
• 7:12
  content
• 7:13
  subscription
• 7:13
  model,
• 7:14
  like
• 7:14
  a
• 7:14
  monthly
• 7:14
  price
• 7:14
  point
• 7:14
  makes
• 7:15
  a
• 7:15
  lot
• 7:15
  of
• 7:15
  sense.
• 7:16
  Okay,
• 7:16
  part
• 7:17
  two
• 7:17
  of
• 7:17
  your
• 7:17
  question.
• 7:17
  What
• 7:18
  is
• 7:18
  a
• 7:18
  normal
• 7:18
  churn
• 7:18
  rate?
• 7:19
  So
• 7:20
  like
• 7:20
  I
• 7:20
  mentioned
• 7:21
  before,
• 7:21
  from
• 7:21
  a
• 7:22
  retention
• 7:22
  chart
• 7:22
  perspective
• 7:23
  with
• 7:23
  a
• 7:23
  monthly,
• 7:24
  I
• 7:24
  want
• 7:24
  to
• 7:24
  see
• 7:25
  that
• 7:25
  people
• 7:25
  are
• 7:25
  paying
• 7:26
  for
• 7:26
  three
• 7:26
  months
• 7:27
  before
• 7:27
  canceling
• 7:28
  because
• 7:28
  that
• 7:29
  is
• 7:29
  like
• 7:30
  healthy.
• 7:30
  And
• 7:31
  so
• 7:31
  that's
• 7:31
  like
• 7:31
  the
• 7:32
  number
• 7:32
  one
• 7:32
  thing.
• 7:32
  Like
• 7:32
  if
• 7:32
  people
• 7:32
  are
• 7:33
  canceling
• 7:33
  after
• 7:33
  one
• 7:33
  month,
• 7:33
  we
• 7:34
  have
• 7:34
  a
• 7:34
  problem.
• 7:35
  So
• 7:35
  that's
• 7:35
  like
• 7:35
  the
• 7:35
  first
• 7:36
  thing
• 7:36
  I
• 7:36
  look
• 7:36
  for
• 7:36
  is
• 7:36
  a
• 7:36
  red
• 7:36
  flag.
• 7:37
  The
• 7:38
  next
• 7:38
  thing
• 7:38
  I
• 7:38
  look
• 7:38
  for
• 7:39
  is,
• 7:40
  is
• 7:40
  our
• 7:40
  monthly
• 7:41
  churn
• 7:41
  rate
• 7:42
  higher
• 7:42
  or
• 7:42
  lower
• 7:43
  than
• 7:43
  80%?
• 7:44
  So
• 7:45
  our
• 7:45
  retention
• 7:45
  rate
• 7:46
  is
• 7:46
  lower
• 7:46
  than
• 7:46
  80%.
• 7:47
  So
• 7:48
  if
• 7:48
  it's
• 7:48
  lower
• 7:49
  than
• 7:49
  80%,
• 7:50
  meaning
• 7:50
  20%
• 7:51
  or
• 7:51
  more
• 7:51
  of
• 7:51
  people
• 7:52
  are
• 7:52
  canceling,
• 7:52
  then
• 7:53
  that's
• 7:53
  another
• 7:53
  red
• 7:53
  flag
• 7:54
  to
• 7:54
  me
• 7:54
  that
• 7:54
  shows
• 7:55
  me
• 7:55
  like,
• 7:55
  okay,
• 7:55
  that's
• 7:55
  not
• 7:55
  really
• 7:56
  healthy.
• 7:56
  Like
• 7:56
  we
• 7:56
  want
• 7:56
  to
• 7:56
  be,
• 7:57
  you
• 7:57
  know,
• 7:57
  in
• 7:57
  the
• 7:57
  80s
• 7:58
  or
• 7:58
  90s,
• 7:58
  to
• 7:59
  be
• 7:59
  really
• 7:59
  healthy.
• 8:00
  Over
• 8:00
  90%
• 8:01
  retention
• 8:02
  is
• 8:02
  a
• 8:02
  really
• 8:02
  excellent
• 8:03
  retention
• 8:03
  rate.
• 8:04
  This
• 8:04
  is
• 8:05
  for
• 8:05
  monthly,
• 8:05
  now
• 8:06
  for
• 8:06
  annual,
• 8:06
  I
• 8:07
  usually,
• 8:07
  when
• 8:07
  I
• 8:07
  do
• 8:07
  projections,
• 8:08
  I
• 8:08
  usually
• 8:09
  project
• 8:09
  like
• 8:09
  a
• 8:09
  50%
• 8:10
  annual
• 8:12
  retention.
• 8:12
  I
• 8:13
  have
• 8:13
  seen
• 8:14
  clients
• 8:14
  that
• 8:14
  have
• 8:14
  a
• 8:14
  lot
• 8:15
  higher
• 8:15
  than
• 8:15
  that.
• 8:15
  And
• 8:16
  it
• 8:16
  just
• 8:16
  kind
• 8:16
  of
• 8:16
  depends,
• 8:17
  like
• 8:17
  how
• 8:17
  many
• 8:17
  years
• 8:18
  again,
• 8:18
  like
• 8:19
  how
• 8:19
  long
• 8:19
  does
• 8:19
  it
• 8:19
  take
• 8:19
  people
• 8:20
  to
• 8:20
  achieve
• 8:20
  what
• 8:20
  they're
• 8:20
  trying
• 8:21
  to
• 8:21
  achieve.
• 8:21
  And
• 8:22
  do
• 8:22
  you
• 8:22
  have
• 8:22
  ascension
• 8:23
  strategies?
• 8:23
  So
• 8:23
  this
• 8:24
  gets
• 8:24
  a
• 8:24
  little
• 8:24
  bit
• 8:24
  complicated.
• 8:25
  But
• 8:25
  for
• 8:25
  example,
• 8:26
  like
• 8:26
  one
• 8:26
  of
• 8:26
  our
• 8:27
  clients
• 8:27
  has
• 8:27
  basically
• 8:28
  a
• 8:28
  three
• 8:28
  year
• 8:28
  curriculum.
• 8:30
  And
• 8:30
  because
• 8:30
  of
• 8:31
  that,
• 8:31
  people
• 8:31
  stick
• 8:31
  around
• 8:32
  for
• 8:32
  a
• 8:32
  long
• 8:32
  time.
• 8:32
  Another
• 8:33
  one
• 8:33
  of
• 8:33
  my
• 8:33
  friends
• 8:34
  has
• 8:34
  a
• 8:36
  membership
• 8:37
  where
• 8:37
  the
• 8:38
  content
• 8:38
  is
• 8:38
  so
• 8:38
  robust
• 8:39
  that
• 8:39
  they
• 8:39
  will
• 8:40
  study
• 8:41
  for
• 8:41
  years.
• 8:41
  And
• 8:42
  they're,
• 8:42
  this
• 8:42
  is
• 8:42
  something
• 8:43
  that
• 8:43
  is
• 8:43
  supporting
• 8:44
  them
• 8:44
  in
• 8:45
  the
• 8:45
  evolution
• 8:45
  of
• 8:45
  their
• 8:46
  career.
• 8:46
  And
• 8:47
  so
• 8:47
  it
• 8:47
  makes
• 8:47
  sense
• 8:47
  for
• 8:47
  them
• 8:48
  to
• 8:48
  stick
• 8:48
  around
• 8:48
  year
• 8:49
  after
• 8:49
  year.
• 8:49
  You
• 8:50
  can
• 8:50
  also
• 8:50
  play
• 8:50
  around
• 8:51
  with
• 8:51
  having
• 8:51
  a
• 8:51
  higher
• 8:52
  price
• 8:52
  point,
• 8:52
  year
• 8:52
  one
• 8:53
  or
• 8:53
  higher
• 8:54
  price
• 8:54
  point
• 8:54
  month
• 8:54
  one,
• 8:55
  and
• 8:55
  then
• 8:55
  lowering
• 8:56
  the
• 8:56
  price
• 8:56
  after
• 8:56
  that.
• 8:56
  So
• 8:56
  they're
• 8:57
  paying
• 8:57
  for
• 8:57
  the
• 8:57
  bulk
• 8:57
  of
• 8:57
  the
• 8:57
  curriculum
• 8:58
  aspect,
• 8:58
  but
• 8:59
  then
• 8:59
  for
• 8:59
  the
• 9:00
  ongoing
• 9:01
  support,
• 9:01
  resources,
• 9:01
  connection,
• 9:02
  all
• 9:02
  of
• 9:02
  that,
• 9:02
  they're
• 9:03
  paying
• 9:03
  the
• 9:03
  lower
• 9:04
  monthly
• 9:04
  fee
• 9:04
  or
• 9:04
  the
• 9:05
  lower
• 9:05
  annual
• 9:05
  rate
• 9:05
  in
• 9:06
  future
• 9:06
  years.
• 9:06
  So
• 9:06
  that
• 9:07
  can
• 9:07
  help
• 9:07
  with
• 9:07
  retention
• 9:07
  as
• 9:08
  well.
• 9:08
  But
• 9:08
  honestly,
• 9:09
  I
• 9:09
  would
• 9:09
  only
• 9:09
  experiment
• 9:10
  with
• 9:10
  that.
• 9:10
  If
• 9:10
  you're
• 9:10
  finding
• 9:11
  that
• 9:11
  your
• 9:11
  retention
• 9:11
  is
• 9:11
  lower
• 9:12
  than
• 9:12
  50%
• 9:12
  and
• 9:12
  you're
• 9:13
  looking
• 9:13
  for
• 9:13
  ways
• 9:13
  to
• 9:13
  get
• 9:13
  it
• 9:14
  up
• 9:14
  year
• 9:14
  over
• 9:15
  year.
• 9:15
  Okay,
• 9:16
  I
• 9:16
  hope
• 9:16
  that
• 9:16
  helps.
• 9:17
  I
• 9:18
  would
• 9:18
  say
• 9:18
  like
• 9:19
  normal.
• 9:19
  Defining
• 9:20
  normal
• 9:21
  is
• 9:21
  tricky
• 9:21
  around
• 9:22
  because
• 9:23
  it
• 9:23
  depends
• 9:23
  on
• 9:23
  so
• 9:24
  many
• 9:24
  factors
• 9:24
  and
• 9:24
  like
• 9:25
  lower
• 9:25
  ticket
• 9:26
  stuff
• 9:26
  at
• 9:26
  high
• 9:26
  volume
• 9:27
  is
• 9:27
  going
• 9:27
  to
• 9:27
  have
• 9:27
  a
• 9:27
  way
• 9:28
  lower,
• 9:29
  probably
• 9:30
  much
• 9:30
  higher
• 9:30
  churn
• 9:31
  rate,
• 9:31
  lower
• 9:31
  retention.
• 9:32
  But
• 9:32
  I
• 9:32
  don't
• 9:33
  have
• 9:33
  baseline
• 9:34
  numbers
• 9:34
  that
• 9:34
  I
• 9:34
  can
• 9:34
  share
• 9:34
  with
• 9:35
  you.
• 9:35
  Most
• 9:35
  of
• 9:35
  our
• 9:35
  clients
• 9:36
  and
• 9:36
  most
• 9:36
  of
• 9:36
  the
• 9:37
  clients
• 9:37
  we
• 9:37
  work
• 9:37
  with
• 9:38
  have
• 9:38
  those
• 9:38
  like
• 9:38
  high
• 9:38
  ticket
• 9:39
  experiences
• 9:39
  that
• 9:39
  we're
• 9:40
  really
• 9:40
  tracking
• 9:40
  retention
• 9:40
  on.
• 9:41
  So
• 9:41
  I
• 9:41
  can't
• 9:42
  answer
• 9:42
  that
• 9:43
  one
• 9:43
  from
• 9:43
  my
• 9:43
  expertise,
• 9:44
  but
• 9:45
  I'm
• 9:45
  sure
• 9:45
  we
• 9:45
  can
• 9:46
  do
• 9:46
  some
• 9:46
  research
• 9:46
  and
• 9:46
  find
• 9:47
  it
• 9:47
  out.
• 9:47
  Cheyenne,
• 9:47
  um,
• 9:48
  but
• 9:49
  I
• 9:49
  hope
• 9:49
  this
• 9:49
  answered
• 9:50
  your
• 9:50
  questions.
• 9:50
  I
• 9:51
  hope
• 9:51
  this
• 9:51
  was
• 9:51
  interesting
• 9:51
  for
• 9:51
  those
• 9:51
  of
• 9:52
  you
• 9:52
  listening
• 9:52
  around.
• 9:52
  Pricing
• 9:53
  models,
• 9:53
  turn
• 9:53
  rate,
• 9:54
  all
• 9:54
  of
• 9:54
  this
• 9:54
  stuff
• 9:54
  can
• 9:55
  be
• 9:55
  tricky.
• 9:56
  But
• 9:56
  it's
• 9:56
  also
• 9:57
  hopefully
• 9:57
  maybe
• 9:57
  some
• 9:57
  of
• 9:57
  you
• 9:58
  are
• 9:58
  like,
• 9:58
  oh
• 9:58
  my
• 9:58
  gosh,
• 9:58
  my
• 9:58
  retention
• 9:59
  is
• 9:59
  90%.
• 10:00
  This
• 10:00
  means
• 10:00
  that
• 10:01
  I'm
• 10:01
  in
• 10:02
  such
• 10:02
  a
• 10:02
  good
• 10:02
  place.
• 10:02
  So
• 10:03
  great
• 10:03
  job.
• 10:04
  Um,
• 10:04
  also,
• 10:04
  if
• 10:04
  you're
• 10:04
  like
• 10:05
  retention,
• 10:05
  what
• 10:05
  is
• 10:05
  that?
• 10:05
  How
• 10:06
  do
• 10:06
  I
• 10:06
  track
• 10:06
  that?
• 10:07
  You
• 10:07
  can
• 10:08
  get
• 10:08
  an
• 10:08
  accountant
• 10:08
  to
• 10:09
  help
• 10:09
  you
• 10:09
  make
• 10:09
  a
• 10:09
  retention
• 10:10
  graph.
• 10:10
  Um,
• 10:11
  you
• 10:11
  also,
• 10:12
  depending
• 10:12
  on
• 10:12
  your
• 10:13
  tool
• 10:13
  that
• 10:13
  you're
• 10:14
  using,
• 10:14
  should
• 10:14
  be
• 10:14
  able
• 10:15
  to
• 10:15
  look
• 10:15
  at
• 10:15
  your
• 10:15
  retention
• 10:16
  in
• 10:16
  your
• 10:17
  checkout
• 10:18
  tool.
• 10:18
  Like
• 10:18
  if
• 10:18
  you're
• 10:18
  using
• 10:19
  ThriveCart
• 10:19
  or
• 10:19
  different
• 10:20
  or
• 10:21
  like
• 10:21
  circle,
• 10:21
  you
• 10:21
  can
• 10:21
  see
• 10:22
  what
• 10:22
  your
• 10:23
  retention
• 10:23
  charts
• 10:24
  look
• 10:24
  like
• 10:24
  in
• 10:24
  there.
• 10:24
  So
• 10:25
  just
• 10:25
  dig
• 10:25
  into
• 10:25
  your
• 10:25
  analytics
• 10:26
  and
• 10:26
  you'll
• 10:26
  be
• 10:26
  able
• 10:26
  to
• 10:27
  find
• 10:27
  these
• 10:27
  numbers.
• 10:28
  Okay,
• 10:28
  thanks
• 10:29
  everyone.
• 10:29
  I'll
• 10:29
  talk
• 10:29
  to
• 10:30
  you
• 10:30
  in
• 10:30
  the
• 10:30
  next
• 10:30
  one.