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Over the last several years, membership sites have started to become a popular way for online businesses to make recurring income. You might have heard how profitable membership sites can be, or perhaps you, yourself has been a member of a successful membership site.
Creating a membership site for your online business is an excellent way for you to generate a recurring stream of revenue. Membership sites have become one of the most lucrative online profit opportunities available today, and it is easy to see why.
You may be interested in starting your own membership site to take advantage of the tremendous opportunity to generate recurring income; however, before you can get started, you have to understand the necessary ingredients for creating and running a successful membership website.
There are many advantages to building your own membership website, including the fact that you can create a substantial stream of income that has the potential to last for years if done correctly. As long as your site is running, and you continue to add valuable products and services to your portfolio, you will be able to have a steady stream of income.
While membership sites are often perceived as being difficult to develop, this guide will walk you through the key components that are needed to launch and successfully run a membership site. The guide will start with the brainstorming and planning phases and extend through to the post-launch process.
When you can understand the various ins and outs of constructing a successful membership site, you will finally be able to achieve the business opportunity that you have always dreamed about.
Chapter 1: Getting Started with a Membership Site
While you might already be somewhat familiar with the idea of membership sites, you may not be entirely sure to exactly what kinds of benefits you can gain from starting a membership site and whether or not it would be worth your time to focus on creating one.
There are actually a variety of advantages that are associated with membership sites that you will be missing out on if you choose not to start a membership site.
The Benefits of Starting a Membership Site
One of the most critical benefits of starting a membership site is the ability it provides you to establish your reputation or your brand. If you have a membership site for a particular niche, people will naturally perceive you to have more knowledge about that specific niche.
With a membership site, you are afforded the opportunity to become an authority site. This is something that you aren’t able to establish with just a thank you page or sales page. Here are some other benefits you can gain with a membership site.
Running a membership site also provides you with another distinct advantage in the ability to establish relationships with your customers. When you have a subscriber list that you send emails or a newsletter to, there is a good chance that at least a small percentage of those subscribers are going to be lost through the unsubscribe or opt-out option.
This is not to say that there will not be a small number of people who might choose to leave your membership site, but if they want to do so, they have to come back to your site to do so.
Another definite advantage of having a membership site is that it can allow you to have much better security. It is much more challenging for someone to hack into a membership site than it is for them to break into your thank you page so they can download your product without having to pay for it.
When it comes to membership sites, you also have to factor in what is known as the stickiness factor. With a membership site, you have a more significant potential to gain repeat visitors. Consider for a moment how many times you have returned to visit a site's thank you page. The answer is probably never, and that is exactly what you can expect when you try to sell your products without the help of a membership site.
While visitors might not return to your thank you page, if you provide high-quality, relevant, and helpful products and content on your membership site, you can rest assured that your visitors will come back. The key to making this work is to make sure that you give your visitors a reason to go back to your site. You can accomplish this by providing high-quality articles, new products, and more.
Easier Bonus Delivery
It is a lot easier for you to deliver additional bonuses at a later point. Unfortunately, what many people try to do is simply deliver their product through email and then toss in a line telling the customer they can also download a bonus. If you have a membership site, you have the opportunity to send out an email and request that the customer logs into their account to download the new bonus to thank them for being a member.
This is a much more personal way to provide your customers with bonuses. When they do log into their member area on your site, they will also be able to see links to the other products that you've posted, as well as links to other websites that you might have, or anything else that you want to put there. This is an excellent way to start to earn some passive income.
Membership websites offer the ability to increase significantly the passive income you receive because you will know that your customers will continue to come back to your site. Not only are you building that important trust with your customers, but it is also more likely that they will check out your recommendations, increasing the likelihood that they will purchase it.
When it comes to pricing your membership site, there are a couple of different ways it can be handled. One way is to charge a one-time fee, while another option would be to charge a recurring payment. Something you need to keep in mind with charging a recurring fee is that it can be a bit more complicated with recurring billing unless you have it set up so that people don’t mind the recurrent bill for the service that you’re providing.
It all comes down to whatever niche you happen to be in. There are some markets where it will be easier to charge recurring billing than others. So, make sure you give some thought to which pricing model is best for your particular market.
Building a Successful Membership Site is a Team Sport One of the biggest mistakes that new online entrepreneurs make is trying to go it alone. It is essential to understand that creating a successful membership site is very similar to a team sport. It is critical that you find someone, or perhaps a small group of people that you can work with. The key is to find people that you feel comfortable working with over a long period. It is virtually impossible for you to go it alone in this kind of business, and the sooner you embrace the idea, the sooner you’ll be able to start your journey to success.
The Basic Steps of Starting a Membership Site
There are two basic options to consider that will allow you to have your own membership site. You can build it yourself, or you can pay someone to build it for you. Regardless of which option you choose, it is essential that you understand the necessary steps that are involved in setting up a membership site.
Choosing a Topic
The first thing that you have to do to set up a membership site is to select a topic. You will want to give this careful thought and consideration to the topic that you choose to ensure that it will be of interest to your target audience.
Focus on choosing a niche market that will be of interest to others. One way that you can determine whether the topic that you’ve chosen will be of interest is to browse through the magazine section or your local bookstore.
When you do this, you can generally assume that if someone is willing to pay for a magazine subscription to learn about a specialized topic, then the chances are high that they will be ready to pay for high-quality information on the same subject through a membership site.