There are many different types of online business models that exist and one of the most popular ones are membership websites. They are websites where people pay to gain access to the content inside of the website. This content can be a video course, digital downloads, community forum, articles etc. The entire point of a membership site is to attract members that are interested in a specific niche and getting them to subscribe for a monthly fee. Once you subscribe, you will gain access to the content in the membership area along with other members. The typical fee for most membership sites is between $9.99 – $99 per month, depending on the niche and the website.
There are many reasons why these types of sites are popular online and one of the reasons is that they provide recurring revenue. Basically, when you sell someone an eBook or eCourse, they purchase it for a fixed, one time cost. However, with a membership website, each member will have to pay the set fee, every month. As a result, you can quickly and easily grow your online income, by getting more members and keeping your existing members.
There are many ways that you can get more members to your site and one of them is through SEO. Search engine optimization is the process of optimizing your site so that it organically ranks higher in search engines. This causes you to get more traffic to your website, which leads to more conversions. So, if you get your site ranked highly for its relevant keywords and people land on your site, then a portion of them will convert and sign up for your monthly membership. As a result, the more people you get to your site through SEO, the more subscribers you will get.
Another way to build your customer base is to do paid advertising. This includes creating ads on Facebook, Instagram, Google, YouTube etc. You should use these ads to target your specific audience and sell them on your membership site. You can start by getting them to sign up to your email list and then you can send valuable emails that eventually lead up to offering the membership to your site. If done well, you can get a high conversion rate and make a lot of money by getting many new subscribers.
Once you have subscribers, you should make sure that they stay members on your site for as long as possible. After all, the longer they stay, the more money you will make. Therefore, you should constantly upgrade your membership area and make sure your subscribers get good value for their money. You should interact with them on a regular basis and post lots of new content.
In closing, there are many different business models that you can follow, but the membership website model is extremely profitable. Of course, you will need to get into the right niche and position yourself as an authority. If you’re not an authority, you can partner without someone who is and then split the revenue.
Further Discussion about Membership Websites
When it comes to starting and running an online business, there are many things you need to consider. Once you are in a specific niche, you will need to decide what type of products you’d like to offer your audience. There are many different options that exist such as eBooks, eCourses, physical products, apps etc. However, one of the most popular options are membership websites. This is when you pay to access a special part of the website where there is a course, community or a combination of the two. These type of websites have absolutely exploded in the last few years and we will now take a closer look at them.
Now, in order to have a membership website, you need to decide what exactly you want to offer your members. For example, if you run a personal development website, you can have a paid membership section where only members can read your premium content that you develop only for them. This is a fantastic way to monetize your existing audience, especially if you have a particularly active audience. Alternatively, if you are an expert in a certain topic such as training dogs, fitness etc, you can create a membership site where members can interact with you and each other as well as access specialized training on your specific topic. These sort of membership websites can offer memberships on a monthly or even yearly basis. It is an extremely effective way to monetize your online business, since it produces repeating revenue.
Repeating revenue is important because it is more valuable than revenue from a one off purchase, for example an eBook. So, if you have a membership site that costs $19 per month, then you will keep getting $19 every month, for as long as the person stays a member. Over time, as you get more members, your income will stack and it is a great way to to make a lot of money online. However, one of the problems that you will need to solve is how to get your current members to stay and not cancel their subscription. After all, it would be more expensive to get new subscribers than it would be to keep old ones.
There are many strategies that you can employ to keep existing subscribers, but the most important one would be to continue providing a lot of value. After all, the reason why these people would subscribe to your site, is to get information or knowledge or access to an active community. As a result, you should always update your membership area and ensure there is always new and relevant content there for members to consume. You should also be very active in your community and strive to build the community. In the event that you don’t have time to do this yourself, you should hire a community manager or hire someone to create new content to keep your members engaged.
In closing, we have just looked at membership sites and how to run a successful one. So, be sure to keep this business model in mind, if you want to create a profitable online business.