How to Make Money Online by Selling Membership
Sell Membership – This is a great way to provide extended value to the top people in your audience who are the most serious about earning a living online. Offer an updated forum-style community, access to training courses and eBooks that would otherwise cost money, webinars, or past interviews that you’ve done with industry experts that were free to everyone but now require paid access. Strive to give your audience value for their time and money.
Your membership costs can range from $27 to $37, &67 per month per visitor. It all depends on what you have to offer. Examples of membership sites are Affilorama.com, Udemy.com, heart Rhythm Society and much more.
“Most people think the key for success with a membership site is attracting members,” says Yaro, “but that’s not entirely true. Yes you do need to be good at marketing your site in order to fill it with members, but that’s only half the equation. It’s equally important to learn how to KEEP your members in your site.”
One way to ramp up your yearly earnings from your membership site and get yourself a bonus of one month’s earnings is to charge on a four-week cycle, rather than month to month.
The best part of establishing and selling a membership site is that you don’t have to have more than one month’s worth of valuable content to get started: once you get the first month of subscribers going, you can work on creating and adding the second month’s material, and so on. Make sure your materials are rare to find on the internet. It does not make sense charging for materials that can easily be found on the internet.
Below is an article that was written about membership business model by the CEO, Zaxaa – Welly Mulia.
Making money by selling a one-time-fee product (e.g. $100) is good. But what’s even better is to sell a subscription or recurring product where customers pay you on a consistent basis in order to enjoy your product. Just like a monthly telephone, cable or internet bill, you want to create a subscription product/service so
that month in month out, you get automatic income. We call a subscription or recurring product a continuity.
When you have recurring income coming in, you can take days or weeks off and the income still keeps coming in. If you keep working, you can put in more members into your continuity, which translates to more income this month and in the future.
Of course, there will be members who will be dropping out of your continuity. But no worries, you still can have a very STRONG recurring income when you:
- Retain existing members for as long as you can
- Get more new members on a consistent basis
(… we explore these 2 steps in more details in later emails)
When you have consistent recurring income, you’ll have peace of mind. When you have peace of mind, you can sleep better at night, which results in more energy and motivation for you to work even harder to grow your continuity business.
Most big successful businesses have some kind of continuity in place. So in addition to your low-cost front end product, you should have a continuity as your back end ASAP. So you deliver your continuity product inside this secure “Membership Site” where only people who have paid can access.
For your continuity
- You could sell a 6-month training course
Your front end product only teaches the surface — the general overview. Your 6-month training course goes into more detail on the concepts and strategies laid out in the front end. In this case, your training course is a fixed-term continuity where members pay every month for 6 months. After 6 months, they would graduate.
Sometimes a fixed-term continuity is more profitable than a forever-continuity because members know there is a DEFINITE period of time when they’ll be paying and receiving lessons. Stopping in the middle would be terrible as they’d have to start all over again, and the information they’re trying to learn would be incomplete.
- You could offer different levels of your product — for example Silver, Gold, and Platinum. Platinum gets the best stuff; Gold is somewhere in the middle; Silver only gets the basic stuff.
You could offer a forever-continuity where the member gets billed indefinitely until they cancel their product/service. This is like the phone and internet bills I talked about earlier.
Here in Getting Profits Fast, we have a few continuity products going on. An example is the PT Instant Club where we supply new landing page templates each and every month. Members are subscribed indefinitely until they cancel their membership with us.
Once you have your continuity product ready, you want to create a Membership Site to securely deliver your product to members. Make sure you only allow AUTHORIZED members to access. Or sometimes you might also want to restrict parts of your product to be assessed only after a member has joined for at least 5 days, or only for “Platinum” members.
Creating such a Membership Site system to deliver your continuity product is complicated in terms of programming and set up. Luckily you have Zaxaa Member to do all the technical and hard work
Here’s how I used this “304 pages” The Art of Membership: How to Attract, Retain and Cement Member Loyalty (The ASAE Series) Kindle Edition to help me achieve my dream living without the fear of ever going broke again.
Other Resources and must read:
- The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue
- 30 Day Membership: RuneScape 3 [Instant Access]
- The End of Membership as We Know It: Building the Fortune-Flipping, Must-Have Association of the Next Century
This last recommended read has to do with religion, but you can pick a thing or two to apply to your online membership business.
- Church Membership: How the World Knows Who Represents Jesus (9marks: Building Healthy Churches)