I spent most of yesterday in a workshop on how to create a membership site from scratch. By the time we were done I had notes and scribbles in my bullet journal for about five different memberships I can create.
Membership sites are a great way to make money online and offline. In fact, in his recent book “The Automatic Customer” author John Warrilow focuses exclusively on the subscription model (aka membership sites) and recurring revenue. When you stop and think about it, if Amazon is running a membership site there’s got to be something to it, right?
So why would a membership site be a good idea for you? Here are five reasons to consider:
It gives you a customer base to work with
Membership sites work well as a business model because they give you a customer base to start with. Instead of having to start over at zero each month, if you have a recurring revenue stream, you have a starting point, a predictable source of income you can depend on each month.
Membership sites are easy to set up
In the second half of the workshop, we saw just how easy it is to set up and run a membership site. With software like Product Dyno, you can pretty much have your site set up in an afternoon as long as you’ve got your content done.
If you choose to go a more simple route, you can run a membership site with just an autoresponder. If you can send an email with a link in it, you can run a successful membership site.
Affiliates love membership sites
Affiliates love to promote products that have a recurring revenue stream. They can make the sale once, and earn commissions every month for as long as their customer remains a member. And if you have lifetime referrals for your affiliates, they’ll earn extra commissions when your members buy other products and services from you too.
Most internet marketing products are sold on a subscriptions model. If you look at my top recommended tools page, you’ll see that the top tools I recommend and use each month have a membership attached to them.
It’s easier to build a relationship with your customers
When you’re dealing with a core group of customers month after month it’s much easier to build a relationship with them than it would be if you were dealing with a completely new group every month. Most membership sites include some kind of regular contact whether through a forum, a Facebook group, or a regular webinar.
For example, I’m a member of the MyNams Insiders Club and we have a mastermind call every week, and a private Facebook group where we can connect with other members and get help when we need it. From a customer standpoint, I love that I can go in there and see the same people day after day, and know that if I have a question someone will have the answer.
A membership site is a good source of passive income
It’s not completely passive, but it’s pretty darn close, especially if you have a fixed term membership. Once you have the set up completed and the content loaded, all you have to focus on is getting new members and keeping them happy. The hard work is done once, and it keeps earning for you month after month.
Have I convinced you yet? Share your thoughts in the comments below or join the conversation in the group.
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