I Need to Speak with the Medium gods About Loyalty — Now

Small business rule #1: Don’t lose a customer

Hi Medium gods.

We need to talk about loyalty.

Let me introduce myself first, so you know you can take me seriously.

I’m a Virgo. That’s really all you need to know, but I’ll spell it out for you. I’m a Virgo, so loyalty is in my blood.

In case you don’t believe in astrology, just know that I also managed the office of a small business for several years. And loyalty runs in the blood of any small business, too.

And I’m not here to debate Medium’s business size. I recognize it’s bigger than a breadbox but smaller than an Amazon.

I am here to say; what works at the smaller level can be scaled up.

Loyalty always matters. Particularly when it comes to sustainable business models.

No Customers = No Company

I often wonder if large corporations understand what lengths smaller businesses will go through to keep a customer?

I’ve worked in several small businesses throughout my adult life. They are by far my favorite because they are the most human. Employees and customers are less likely to be treated as numbers and more likely to be treated as, well, people. And business owners understand the value of every person.

Let me say that in a way that speaks to your bottom line, Medium gods: small businesses have a direct connection to the source of their income and livelihood — their customers.

Every small business owner will tell you they feel the impact of just one loyal customer leaving their business. Yes, even one. I distinctly recall feeling the void left by a loyal customer every time one moved out of town. It’s hard on any business. But smaller businesses feel it quicker. The impact is more immediate. Larger businesses may take longer to feel the ramifications because they’re more disconnected from their customers.

Now, of course, any business always wants and needs new customers. That is a natural part of any business operation as well: acquire new customers. But that uses a lot of time, energy, and money.

Thank goodness there is another option, Medium gods. And that’s what I’m here to discuss.

Treat Your Loyal Clients Like Gold

A small business has a high chance of success when loyal customers feel special and valued. That means you make accommodations for them. And you tell your loyal customers that the business could not survive without them — without their loyal patronage. Small business owners aren’t afraid to come out and express appreciation. They understand the devastating impact of people who leave them.

Unfortunately, most corporations miss this mark every time. It’s why people who have the financial means often prefer to shop small and spend locally — where their money and patronage are appreciated.

How does this relate to you, Medium gods?

Over the past few months, I witnessed many Medium writers completely abandoned ship once things like $1000 per month were offered at NewsBreak. It told me something important.

Other writing avenues, opportunities, and platforms are rising up from the internet depths and tantalizing your disgruntled writers.

And all of this makes me question if there is a major flaw in the Medium fabric:

Who is at the head of Medium’s customer loyalty program? And may I have a word with them?

The customers are your business, Medium gods, and the funny thing about your business model is — your writers are also your customers. So it’s bad news on two fronts: revenue and content production. When your top writers leave the platform while your other 95% become increasingly frustrated, there are many things at play. One of them is definitely loyalty and value.

Medium Needs A Member Loyalty Department

Why on Earth would you want talented writers fleeing from your platform?!

Medium gods, this is my message to you: Reward Loyalty.

That is absolutely the key to any business worth its weight in gold (or pennies, since that’s about what most writers make here).

Rather than let writers leave and pray they come back — why not, instead, create a way that recognizes, honors, and appreciates your writers? I mean, for goodness’ sake, you can even just develop a Kindergarten system of stars and numbers. It still works. Why?

Because people want, need, and deserve to be recognized!

Especially for their loyalty. Especially in 2021. Especially in the internet age when the next app, website, blog forum is right around the corner.

Yes, you will still need to gain the new talent, new writers, and new readers… but all of that takes time and energy.

Start first by rewarding the people who have already shown commitment and dedication to being here. That way, the next iteration of New Break or Vocal. Media or whatever’s currently in development will be less likely to steal your writers away. Your members will be more satisfied and less likely to platform hop when the opportunity arises.

Think of it just like any loyal friendship or relationship — if your needs are being met in one place… why would you want to leave? Answer: you probably won’t. You may even stay, forever.

My Loyalty Ideas

I have a lot of ideas, so I’ll share a few:

Senior Writer Advantage

You can reward loyalty to the platform by easing the content machines these senior writers have become by moving them into some type of mentorship program at a flat monthly rate. The number one draw NewsBreak had that Medium doesn’t is a guaranteed minimum income. So, create a Senior Writers mentorship program and deliver that to your customers/contractors! This will give writers an incentive to stay on the platform to achieve this status and afford them the chance to relax from producing endless content. Added bonus, you’ll have better quality writing from the newer writers who choose to participate in the program.

Newbie Writer Advantage

It’s hard being the newbie anywhere. Wrap Medium newcomers in a bit of a warm, fuzzy blanket as they transition to this hard and fast world of curation and tags and listicles. Let’s say they come to the platform as a paying member who also writes stories. Perhaps for their first 3 months, they have an icon to celebrate their arrival. You can put this on their profile picture and in their About section. This will help other Medium writers immediately recognize newcomers. Then, cultivate an atmosphere of encouragement whereby writers share other writers’ work. This will provide a much-needed boost, so newbies don’t get shuffled to the bottom but are supported by others who read and share their articles. Warm welcomes go a long way towards loyalty and customer satisfaction.

Ways to Track Writing Progress

I know I am not the only Medium writer who desires a way to track progress and receive feedback. How can I improve? What do you want from me, Medium gods!? Developing this on a more formal, universal level may help ease confusion and contribute to a more positive writer experience.

Readers-Only Recognition

There are plenty of Medium members who read on the platform but never write a single article. They matter as well! Make them feel special. Perhaps reward them each year they stay a paying member and reader on Medium. Maybe they get a star with a number around their profile picture. Or there is a counter somewhere with the number of articles they’ve read or all the minutes they’ve spent reading. Create something that shows them, “Hey, you are spending a lot of time reading on here — and we appreciate you!”

This doesn’t have to be rocket science. You simply need to show that you care about the people you have here. After all, they are already on the platform! They are already engaged. They are already paying you money and producing the material that allows you to have a business!

Don’t give people a reason to leave or look elsewhere. Reward loyalty to the platform.

Lots of writers will never make the big bucks. If you are lucky, they will stay because they found another reason to be here. But they will eventually slow their production/reading time on the platform. The sad reality is that many will leave altogether with anger/frustration/defeatedness in their hearts surrounding their time on Medium.

Capture them before they go. You don’t want those writers leaving. They’ve spent time building a community and contributing to your service in various ways. And they have more to give.

They just need to be recognized for what they have already given. Perhaps then they won’t buy into the idea that the grass is greener somewhere else.

Stats on Customer Retention, In Case You Think I’m Making This Up

I’ll leave you with some quick stats. That way, Medium gods, if you don’t believe me — maybe you’ll believe people from the marketing industry:

Acquiring a new customer can cost five times more than retaining an existing customer.

Increasing customer retention by 5% can increase profits from 25–95%.

The success rate of selling to a customer you already have is 60–70%, while the success rate of selling to a new customer is 5–20%.

U.S. companies lose $136.8 billion per year due to avoidable consumer switching.

Focus on the people you have. Figure out where the frustrations are coming from. And if you aren’t able to provide more monetary compensation, then know that the energy of gratitude and appreciation is an alternate currency.

It won’t pay the bills — but it will fulfill another deep human need.

We all have a need to be seen and recognized for what we give.

At the end of the day, that’s really important too.

Thanks for reading everyone! Please leave your thoughts in the comments.