A 4-Step Plan to Make Money from Membership Sites
Whether you know it or not, making money from membership sites is the trending business model. Not only you will be able to create a recurring income source for your business, but you can also help people through membership sites.
You may or may not be aware that there are few unique ways you can use to make money online. And I’m not talking about making pennies you can really make a great passive income from sources like membership sites.
What is a membership site?
It’s a paid way of getting people to use or read your stuff (be it content, videos, audio files etc.). In general, you can use WordPress as a content management system and install any good membership site plugin to make your normal WordPress site into a membership site. You don’t have to put a lot of money or efforts to create a membership site by using plugins like Wish List Member, Get Premise etc.
Which is better: one membership site or too many small ones?
Now you may have a question that whether to launch a big membership site where you can solely focus on creating and promoting your stuff or launch multiple small ones to make more money. If you are really serious about making money by helping people, I’d strongly suggest you to launch one site, spend quality time in promoting it.
If you are not sure about which type of niche works and want to try different ideas, then you can use multiple small membership sites. Either way it depends on your interest, time, and marketing skills.
So if you are searching for “making money from membership sites”, search no further, in this detailed guide I’m going to share you a 4 step plan to make money from membership sites even if you are new to online world.
Let’s get into the details without much ado.
Table of Contents
How to make money from membership sites: A 4 step plan
Step 1: Decide on a subject
The very first thing you need to focus on before creating a membership site is the topic. If you can’t get this right, you will ruin the whole process of making money from your membership sites.
Here are few basic questions you can ask yourself before deciding a subject for your membership site.
- What type of content you want to produce? Audio? Video? Text? Or all of them?
- How do you want to promote your membership sites? Using social media, paid email list or through PPC ads?
- What price do you want to charge?
- How is your competition and what are the loopholes
By analyzing the above things you will get a better idea on how to go further to creating a membership site that helps you make more money each month.
Figure out the things that your competition is not offering. That way you will be able to get more paid clients when you are promoting your membership sites. Provide the top solutions to your customers problems and they would be glad to pay you even if you put high price tags.
Step 2: Marketing is everything
According to Pareto principle, 80% of the results come from 20% of input. If you are thinking to start a membership site and planning to make money from membership sites, focus on marketing not content creation.
Most people focus on creating great content for their membership sites, but the success mantra for any profitable membership site is the promotion. How you promote your membership sites is how you are making them valuable.
If you don’t have proper marketing skills or don’t market your membership sites the right way, no one will buy from you even though if you think your content is unique.
Step 3: Launch an affiliate program
If you want to increase your sales and attract tons of customers who are happy to pay you, you need to use an affiliate program for your membership site. You can never find out where your targeted paid users come from so just by offering an affiliate program, you can attract multiple bloggers to introduce your membership site to their followers or readers.
Make sure you have an affiliate program that pays upwards 80% to attract more people promoting your membership sites (as far as I know almost everyone’s offering more than 75% of commission to their affiliate users).
Pro tip: Make sure your content is exclusive only to the people who are paying you. And stop getting indexed your exclusive content on search engines. That way no one will be able to find your content for free on search engines. Also use password protected pages all over your website to make it accessible to only people who are paying you.
Step 4: Carefully choose your payment methods
Once you have your membership site ready, it’s now time to choose your payment method. It’s a good idea to put a monthly payment option, but you can get more money if you are offering “pay at one time” method. Also you can cut down the “download collectors” when you are taking one-time payment from them.
Again, it entirely depends on your niche, topic and the audience you are targeting. If you have better solutions for a popular topic, then you can offer a one-time payment method that is benefit for you and your audience. You can also give huge discounts if you offer one-time payment method.
Don’t forget to provide credit/debit card access, PayPal option etc. to make it easy for people all over the world to pay for your membership sites.
Conclusion: Making money from membership sites is a fantastic way to increase your recurring income every month. Just start focusing on finding a topic that your targeted audience are interested in, use a great plugin to easily build a membership site on WordPress, learn effective promoting skills to market your membership sites to reach more people and you are good to go. You don’t have to waste a lot of time on creating content for your membership sites, focus more on reaching wider audience.
So what are you thinking? Are you going to start a membership site to start making money online? Please share your thoughts in the comments.