Earning regular monthly income from a list of loyal customers is without a doubt a good business model. Membership sites let you earn money from recurring monthly membership payments. As your membership base increases, so does your revenue.
The difference with membership sites is that rather than getting paid after the point of sale, you get paid monthly by all your members for the same information product. Let’s say you charge $20 a month on membership and you have 300 members on your site. That means you get $6000 dollars a month.
Since you are selling information as a service, you are not really spending on any merchandise. You are producing your products right from your own thoughts.
WHO SHOULD TRY LAUNCHING A MEMBERSHIP SITE?
The success of a membership site depends a lot on the information product that you are distributing to your members. This is why it is advisable to build a membership site if you are a professional, an entrepreneur, a consultant or an expert in any field because you would have useful information to share regularly.
HOW TO START YOUR OWN MEMBERSHIP SITE
Decide first what type of information product you want to circulate in your membership site. You can focus on delivering it on a single medium or you can combine all sorts of media from eBooks, to manuals, videos and audio recordings.
Determine what name you want for your site. It should give people an idea about your information products. Check it out with NameCheap and register if still available.
If you do not have a site yet it would advisable to use WordPress or any platform that is compatible with plugins because you need to install an S2member plugin or anything similar to it for membership signup.
In case you want to develop your membership site using a website builder, you can purchase membership apps that can be integrated to your site. Examples of website builders are Wix and Weebly.
When developing your site, take note of payment methods – you need a PayPal account and merchant account for PayPal and credit card payments.
You also need to consider in your web architecture how you want to distribute your information products to your members whether via email subscription, exclusive website downloads, or exclusive streaming.
Your site needs to be hosted and top choices for that are Hostgator and BlueHost – both are known for their uptime guarantee and scalability in case your membership base grows.
When you have everything up and running, promote your site via social networks, video marketing and SEO.
EARNING POTENTIAL OF MEMBERSHIP SITES
As mentioned above, with 300 members at $20 a month each, you can expect $6000 a month on revenue without paying for merchandise costs. But do not expect this to happen overnight. From your first few weeks, you can expect a slow start which is why you need to rely on word of mouth from your current members. It would take a month to develop your site, and a couple of weeks to get your first members. After another month or two, you can expect your membership base to steadily rise as long as your members are happy with your service.
MEMBERSHIP SITES AS PROFITABLE INFORMATION PRODUCTS BUSINESS
As long as you can regularly create information products and circulate them to your membership, you can expect a regular monthly income from your business. Among other online businesses, membership sites would let you earn regular monthly revenue. Check out the blueprints below to learn more about building your membership site.