Only a couple of weeks left now until 2017. For most people, these last couple of weeks of the year can be a little less productive, with christmas parties, family gatherings, and possibly the occasional hangover. It’s important to try and keep the momentum of working on your business, so that you can start the new year ahead of yourself. You can read why winter is actually a great time to do this here.
Next week I will do my end of year review and set out my goals for 2017, but I wanted to use this post to talk about one of those particular goals in a bit more detail.
Membership sites. I am planning on getting one up and running next year and it’s something you should think about too.A membership site is essentially a subscription service. The customer will make a regular payment, usually monthly in return for a service or information. Think Aweber, Amazon Prime, clickfunnels, there are tonnes of different subscription sites out there in tonnes of different niches.
Here are 4 reasons why membership sites are a good idea…
1) Probably the #1 reason why people want to start a membership site is the potential for recurring income. Having people make regular payments to you on a monthly or yearly basis is a great situation to be in. Let’s look at an example of how this could work. Let’s say your subscription site was $10 a month and 500 people subscribed to it, that’s $5000 a month being paid to you. Not too bad?! How about if your subscription site was $27 a month. With 500 subscribers that would bring you in $13,500 a month. There are people out there who’s subscription sites cost more and have many more subscribers than indicated in these 2 examples, so the potential is huge!
2) It is an effective use of your time. The beauty of internet marketing in the digital products niche is that you make or create the digital product once and sell it many times over, and a membership needn’t be any different. There are lots of different ways you can set your membership site up. For this example it’s going to be a 6 month membership. By the end of the 6 months the subscriber will be able to do – ‘whatever it is your membership site has promised’. In this scenario, you need to create the 6 months worth of content – once. Then you continue to market and drive traffic to your membership site, for as long as the content is relevant.
3) They can be a very cool part of your marketing strategy. You can set up your membership site so that it’s the pinnacle to where you eventually send all your traffic and customers via the other offers and products you have. By using this strategy, you can have confidence that the people who become members of your site, are there because they have faith and trust in you, and are interested in what you’re about. In other words these people are as hot and targeted a customer base as anyone could want. These are the people who are going to be the most responsive to any other marketing campaigns you do.
4) They are (apparently) pretty easy to set up and maintain. There are plenty of wordpress plugins that make the process of setting up and running your membership site quite straightforward. A membership site is one of those business models where the main bulk of the effort comes at the beginning with setting everything up. Once you have done this, you’ve done most of the hard work. With wordpress plugins most updates are as simple as pressing the ‘update now’ button. The other great thing about membership sites and digital products in general is that it can all be automated, so again the hard work comes once at the beginning, setting it all up, but once it’s done, it’s done. This means you can use your time in other ways.
So these are the 4 reasons why a membership site could be a worthy goal to consider for your business. I hope this excites you as much as it does me. It is a goal I have set for myself in 2017. And in true IncomeObjective style I will be posting up dates about the whole experience of setting it up and keeping you updated with what works what doesn’t and what sort results I am getting.
I hope you have enjoyed this post, please feel free to comment below and let me know your thoughts or experiences of membership sites, both good and bad!
Bye for now 🙂