Membership Site? Why
Have you every thought about building a membership site?
There are a number of reasons why you would want to build a membership site over a conventional site.
- Residual revenue: Members pay their subscription every week/month/year so you are almost sure you have revenue coming in each period. (I say almost sure because you will have cancellations)
- Predictable income: Yes you know the money will come in and you can plan you business/budget based on these figures
- Similar to a list you have a captive audience. When you look after your members and have long term membership you have built loyalty. Traditional these sort of business return more per customer than those who sell the 1-off item.
- Growth. As you membership base grows and your members are happy, you will experience word-of-mouth advertising. This is the cheapest and most atvertising you can get. When this start it has a snowball affect.
These are the resasons why, there is also a list of reasons against Membership sites. Do you research well before starting any business.
Cheers Kev
Recent Comments
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Hi Kev, a fascinating proposal I am some ideas around healthcare you got me thinking. thanks for sharing
Hi Kev, that's a really interesting suggestion. I would guess that there would have to be a perceived for the membership that would drive the customer to wanting to be a member. I need to think about that. Thanks for sharing.
Wayne
Same as with any other online business, you need to consistently deliver value Thanks for your comment. Cheers kev
This is something that hasn't really occurred to me but it's something to consider. Great post Kev.
My recommendation is always to build an audience before you build a product in any niche.
It is much easier to sell someone else's product than it is your own and once you have a footing in a given niche, then you can consider product creation (one take on this could be your own membership site).
I posted a blog which is a good example of this.
A girl built an audience of 1.5 million in her tribe account with the Nail Art niche over 3 years.
She was approached by Sony music to promote the new One Direction single. They paid her $5,000.
The power of building an audience.
Thank for you comment Kyle.
Cheers Kev
Cool. I've never thought about this before. Could be a long term goal. Thanks for sharing.
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I'm already playing around with the idea of a membership site so thanks for this :)