You’ve probably heard a lot of buzz about membership sites. They say you just set up a site with content and then a bunch of customers come and pay you month after month but let’s not get ahead of ourselves. It’s really not that simple, unless you know what you’re doing.
Is there any truth to the buzz about recurring income from membership sites?
Coming up with a winning membership site idea takes a real understanding of what your target market wants and some strategic planning on how you can serve that market on an ongoing basis … So they’ll WANT to pay you each and every month. People don’t just pay because you
want to give them content each month…you have to serve your members’ needs before your own.
It’s definitely a winning model, if you set it up right and it all starts with your idea. Since coming online in the late 1990s, I’ve tried just about every online business model out there and have to say, membership sites are one of the easiest ways to secure reliable
income month after month … as long as you do it right.
Discovering your winning membership site idea
Figuring out what your membership site is all about comes down to serving your audience on an ongoing basis. It’s less about, “How can I make $5,000 or $10,000 or $30,000 per month,” but that is a fortunate side effect when you do it right.
But before we begin, make no mistake about it … membership sites do take work and if you’re not careful, it’s easy to get in way over your head. That said, if you approach your membership development strategically, you can streamline the process and deliver a ton of value to your members without overworking yourself.
Here are a few things to keep in mind as you plan:
Go where they pay: Focus on niches that are willing to pay for content or for their personal development. Look for niches where there are plenty of information products or services for sale and figure out where you can fill a need.
Sometimes less is more: Instead of worrying about piling on tons of content to increase value, think of the simplest ways you can make a big impact for your members. Think of how you can really save them time, help them save/make money or any other benefit you promise. Think templates, tools, research, access to experts, ready-made projects or anything your members can put into action quickly.
Start out small and grow as you go: Don’t over-promise something you can’t deliver if you don’t get the membership numbers you want right away. You can start with an introductory price point and get a lot of new members in the door. These new members will help you figure out what you can add to the membership as you grow. They’ll become your cheerleaders and bring in new members. They’re also more likely to stay on when they are grandfathered at the low introductory rate…they’d hate to lose out on all that great stuff you’re adding.
With all this in mind, do you need help in setup your membership site ?