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Thursday, 7 February 2019

Start A Membership Site For Earning Money



Let’s say you are a semi-famous name in your industry — and have over 5,000 subscribers.

Every once in a while, you even get invited to speak at an event and sit on a panel.

If so, it might be time to start a membership site. Membership websites are a value exchange.

For those of you who are not familiar with membership websites: it’s a private website with exclusive content where only the members who opt for a paid subscription can access the content.

As long as you continue to provide valuable information to your audience — they will be happy to pay for your monthly subscription.

So what can you provide to your audience to make sure that they keep paying for their monthly subscription?

After all, you have to keep your side of the bargain. Otherwise, you can say goodbye to your subscribers.

You can deliver value to your members using content like:
  • Online courses
  • Live Webinars
  • Informative guides
  • Ebooks
  • Community forum
  • Offer cheat-sheets
  • Workbooks & action plans

WHAT MAKES STARTING YOUR MEMBERSHIP SITE SO LUCRATIVE?

1. RECURRING INCOME


I won’t be exaggerating if I say that the membership websites can be a holy grail for young entrepreneurs.

Why?

The key phrase here is “Recurring revenue.”

And who doesn’t like that?

If your content is valuable enough, members will continue to pay to access and retain it over and over again.

So basically, you are getting monthly income for the content you created just once.

Think of it this way: you spend two hours with a client. The client pays you once, and you both move on. That’s about it!

Here’s another scenario: you spend two hours creating something valuable for your membership site. Now you continue to get paid for that content for months on end. After a while, you spend some more time to update the content and still get paid for it.

2. YOU GET TO BUILD A LOYAL CUSTOMER BASE


Launching your membership site also boosts your authority in the industry and positions you as an expert, allowing you to grow your following.

Come to think of it, with your membership site; you are killing two birds with one stone.

On the one hand, you are getting paid perennially for the content that you put up once. And you are building your authority at the same time.

Do you know how many folks would love to be in your boots?

Countless of them!

However, if you relish the idea of building a membership site in the pursuit of passive income, then you have to stop thinking of the monetary benefits.

Initially, work on building an audience, choose a subject matter that you have knowledge of and something that is most likely to sell.

I’d suggest, instead of thinking of a broader domain, think of something more niche.

For instance, don’t think of creating a membership site about Social media marketing.

Instead, try thinking of, “I will teach health and wellness consultant how to leverage social media marketing.”

The more you narrow down your subject matter, the easier it will be for you to build a loyal member base.

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