You’ve probably heard a lot about how a membership website can provide your business with a recurring and stable income online (and remember, membership works offline too). You basically create a subscription website where the public is blocked from your content. It’s only available only members who pay a fee to access the membership area.
But getting people to join your membership is only half the battle. Getting them to stay is the other half. The key to member retention is to under promise and over deliver. Creating a subscription website, no matter how lucrative some might be, isn’t for everyone. Do you sometimes wonder if starting a membership website is right for your business?
Let’s look at some factors that can help you decide.
Memberships are part of our everyday life even when we don’t realize it. It’s a business model most people are comfortable with. You can join memberships for sports clubs, chiropractor care, medical practices, gyms and more. Members pay a regular fee, normally every month, and as long as they feel that they are getting good value, they continue to pay.
A membership website means that the public is blocked from the content. It’s only available only members who pay a fee to access the membership area. It’s an effective business model for the website owner because it generates a healthy passive income stream.
However, to make money with membership websites you do have to continuously ‘wow’ your audience to keep them interested, plus devote a fair amount of time to marketing the membership. So, how does the membership site business model really work and why?
Passive income is a popular term right now, and it includes a wide range of income streams from rental properties, membership services, book or ebook sales, and more. Passive income is real, but the term “passive income” can be misleading because there’s nothing passive about building a passive income stream.
Everywhere you turn online when seeking information about earning money online or building your wealth, you hear about passive income and how it’s the ultimate goal for someone wanting to build their wealth. While it is a great way to build your wealth if done correctly, it has proven to be a source of frustration for those seeking an easy way to earn more money.
As you build your online business, one of the ways to stop an inconsistent income flow from getting in the way of your success is to start a continuity plan. A great way to get monthly continuity income is to build a membership website. A membership website means that the public is blocked from the content available only to members who pay a fee to access the membership area.
When you build a membership site, you’ll need some sort of software to not only create the member’s area of your site, but to manage subscriptions, send emails (if not using a third-party autoresponder), collect payments and deliver purchased content.
When you create a membership website, even on a small scale, it can earn a lot of money for much less work than a single sale website. A membership site, or subscription based website, is a site that’s password protected, and generally requires users to pay a monthly fee. Most membership websites are protected by special scripts that handle the managing of the usernames and passwords of members.
A membership site can pull in quite a bit of money for you and it doesn’t require you to be there daily except to make sure things are running smoothly. You can create a membership website ahead of time that drip feeds to your customers when they sign up. Then you can spend the bulk of your work hours on marketing and promotion
Let’s look at the reasons why you might want to create a membership website and how you can do it.