Create & Cultivate, the digital media and marketing firm that’s nabbed a loyal following with its conferences and online content aimed at Millennial female entrepreneurs is getting creative itself with its revenue streams.
The company on Tuesday is set to launch its digital membership program, which offers monthly career mentoring, front-of-line passes at conferences, unlimited access to video footage from sold-out conferences and members-only content. The cost is $140, or as Create & Cultivate will pitch to prospective members: $15 a month and akin to the price of a piece of avocado toast.
It’s the latest tactic to continue growing a business that last year added a book and podcast to its well-known conferences and online content lineup.
“We’re most known for our events side of the business, so all the experiences we’re creating,” said founder Jaclyn Johnson, who started the business in 2012 with prior experience in influencer marketing and events. “We’ve had a lot of success in that realm but 100 conferences a year isn’t a great strategy for us.”
That’s especially the case on a closer look at the numbers, she added. While a large conference can pull in more than 1,500 people, those accessing the Create & Cultivate site is around 1 million.
“We realized there’s this massive gap between the women attending our conferences and the women on our site,” Johnson said.
The goal, she went on to say, is to onboard 15,000 members in the first year of the digital membership program. It was soft launched to the company’s Austin, Tex., database just ahead of South by Southwest and has more than 1,000 members. The company’s overall database totals more than 600,000 people.
“Last year was about differentiating revenue streams. So we launched the podcast and the book. This year it’s about scale,” Johnson said.
She also sees the company as being at an advantage having initially launched first with the goal of providing experiences and then working with sponsors to create revenue streams there. The strategy’s so far paid off with Create & Cultivate profitable and closing last year with $10 million in revenue. The company, which has not taken on outside funding, has added partners over the years including Raina Penchansky of Digital Brand Architects and Blended Strategy Group’s Allison Statter and Sherry Jhawar.
It’s now plotting to engineer a more robust media arm side of the business.
The combined marketing and editorial team totals five in addition to freelancers, but Johnson acknowledged the team will need to expand.
It’s also getting into products with an office supplies licensing deal, having a go at a market where incumbents such as Ban.do and Blue Sky operate.