Membership site is an awesome source of passive income
Their owners need to have certain technical qualities and a lot of passion for the subject of such websites, to make everything work. But, in the end, this is an extraordinary passive income opportunity. The webinar I've listened to mentioned something about such income;
'If you have 10 people opt in within first 2 months, and your membership price is 10$, you have 100$ coming in every month. If you manage to do some marketing and get 10 more members next month, you'll have 100$ + 100$ from the past month. If you do some paid ads and affiliate programs, or perhaps email marketing done, and get 20 more members in the coming month, you'll get 200$ + 200$ from past 20 members. All that money coming in each month.'
Although these numbers (especially if the membership cost would be higher) seem to make everything easy, it takes a lot of knowledge and preparation for such website to be done.
Now, this can be an ebook topic itself, but it's something worth brainstorming about.
Several questions come to me;
1. What should be the topic of such site? What would you be able to provide valuable information about, that would keep members on site for more than several months?
2. Would information be enough to keep members? What other value can you provide? Perhaps information in different formats - videos, webinars...? Perhaps building friendships through forums and chats?
3. What expectations would you have - financial and business-wise? What other opportunities would you look for?
Does anyone here have a membership site?
What advices do you have?
Recent Comments
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Wondering if we, as members can create a Classroom topic or is that done by admins?? This would make an excellent classroom topic.
Yes, you can create a topic. Kyle and Carson,possibly Jay have the authority to create the actual Classrooms but we can add topics. https://my.wealthyaffiliate.com/training/getting-the-most-out-of-wa-classrooms
I want to contribute to such classroom. Anyone who has questions about joomla can post them on my profile. I'll be glad to answer them!
I am currently working on a membership/authority site and wonder where the webinars you mentioned watching are located. Are they here at WA? I only found one webinar relating to this titled "Building An Authority Site" https://my.wealthyaffiliate.com/training/building-an-authority-site/play and would love to see other recordings.
Look at the Menu item Watch WAbinars, they are all listed there for the viewing of all Premium members.
You should talk to TJMoore here on WA, he's currently building a membership site and can give you a lot of insight. Membership sites are definetly a great way to make some recurring coin, but you definetly need a lot of content - constantly updating and keep offering something new in order to keep subscribers.
If I was to build a membership site, I would probably either do something similar like WA or Chris Farrell - maybe a computer learning and teaching membership or an adult web site, lol
Membership sites are an awesome income model. There are drawbacks but if you are committed to a specific topic and have a good understanding of what your niche needs, these can be very good.
Create a bunch of content to start with. Engage your members and get them to tell you what they are looking for.
Forums can be useful for this when you are starting out. Create a free bonus to get people to join. A strong leader can close the sale when working on getting people to commit.
Retention is the key. Give people what they need on an ongoing basis and word of mouth will keep them happy and renewing their commitment to your site.
I think the idea of building a site like this is great. I have been trying to figure out the proper methods for doing so but, i think I lack the knowledge that it would take. Building a membership site, at least properly building one would take years (I think) WA has done a great job keeping us all engaged and informed so I feel like if I can't do it as good as they have I'm not living up to expectations of potential members.
Thanks for posting. It makes me glad to know I'm not the only one thinking about this.
Great blog jpesutm, I have thought about the same idea but I'm just starting out so I think I will promote membership sites like WA and aweber for now, then later work on my own membership site when I'm smarter but this is a great idea, thanks.
The same here. I have several ideas for membership sites, though. It will take me a lot of preparation and even learning about the topic the site will be about, before I make any step towards it.
Thanks for sharing your post. I am currently building a membership site... it is not like WA. I fully intend to remain here. Mine will be a private membership site. It is for clients
use I will share once it has a tract record.
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My suggestion for owning your product of any type is that if you cannot market it yourself and you don't understand the audience needs before you create the product, you are going to have a real tough go.
In order to attract affiliates and people promoting your site, whether it is a membership site or not, you need to be able to help them out with the promotion of your product and obviously the product has to convert.
That would be my initial advice.
Then I would suggest that you believe in your product and you stand behind your product. If you are doing it just to make money and it doesn't serve a purpose other than that, it likely will not come with too much quality. If your customers being happy is not what makes you happy, your are not tapping into your full potential. :)
Wonderful advices. Thank you, Kyle!
No problem, anytime.