Let’s step back for a second and take a look at the concept of charging recurring payments for offering certain perks or services. Before having a membership site was popular, companies already discovered the value in creating memberships.
People love to shop at Costco or Sam’s Club, for example, and are happy to pay a fee to do so. Some of the benefits that come a long with such a membership are bulk packaging and low prices. Amazon charges a fee, and what started of just for books, now sells everything one can imagine. These memberships create a sense of trust that gives the member the piece of mind knowing they are getting the best value and perks for their money. As a customer you are now much more hesitant of shopping somewhere else. Why not take the concept of creating a membership, a community, and apply it to your business.
The easy formula goes like this: Make it alluring for a customer to join your membership site program. Build trust by offering incredible value. You can then extend your assortment by offering premium services that people will now purchase because they trust, know and like you.
Find Your Niche
Some of you might have a popular blog or website that already has a following or you might still be searching for your niche. Whatever your particular situation might be, adding a membership site to your website gives you the ability to create a community that supports your work and if done right, can be a viable online business.
One of the most important steps in creating a powerful membership site is finding a need or niche to fill or a problems to solve. You need to offer value that keeps your member base coming back for more. Always give your members the most beneficial information and establish yourself as an expert or authority figure in your field. Clearly highlight the benefits of using your solution, personalize the process and provide the best customer service possible. Don’t be afraid to ask for feedback, listen closely and remember that your clients are the core of your business. Be honest with your customers and announce any issues or changes that occur.
Understand Your Audience
Whether you already have a membership site idea or you are still brainstorming, the key is to understand your audience. It is important to know your audience and establish an idea of their wants and needs. Think about the value you offer to your members and the adequate subscription duration for your particular niche. Should your membership site subscription have an end date or not? Some membership sites have a clear start and end date for their subscription, whereas other membership sites keep producing new content that keeps the customer signed up.
Have Realistic Expectations
Your membership site will probably not be successful over night. The truth is that members leave membership sites all the time. Remorse is reality and if you want to run a successful membership site you need to find a way to keep marketing and getting new members to sign up. However, the good news is once you have found an automated system of bringing in a steady stream of new subscriptions, that eventually will be greater than your cancellations, you will have a stable and passive monthly income.
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