The hot business model online right now is membership sites. Sell once, bill over and over again. And, by doing so and providing real value along the way, you build up a recurring revenue stream which is dependable each and every month.
In this guide, I’m going to show you the 101 guide on setting up and running a membership site.
Why You Want A Membership Site
First of all, you should know that blogs and membership sites go together like peas and carrots, as Forrest Gump would say. A helpful and well-maintained blog serves as a GREAT lead generator into a related membership program. Not only that, but most membership sites today are powered by WordPress – which makes them even easier for a blogger to operate.
From a business perspective, you absolutely need to build up what is called a “continuity” income stream. In other words, it is continuously re-billed on a monthly basis. Without continuity, you are in the position of constantly looking for your next sale, your next product, your next hit. With continuity, you are building a stable bedrock on which to build a lasting, ongoing business. And, while you can still release new products, the idea is that you are building a SUSTAINABLE income stream.
If you do the math on it, you can see how it would add up. To keep things simple, let’s assume you have a membership site which costs only $10/month. Let’s assume that you’re able to sign up 1 new member per day. At the end of a month, you would theoretically have a $300/month income stream. The next month, $600/month. Then, $900/month.
Now, if you’re smart, you’ll realize an obvious fact: This assumes nobody ever cancels. And that’s simply not realistic. But, on the high side, even if you assume that 10 people cancel each month, you’d still be growing at about 20 members per month net.
So, this adds up. And it gives you a predictable income stream from your blogging efforts. Plus, membership sites have a higher perceived value than a PDF ebook. And once you get into the rhythym, it is actually easier, too.
So, the reasons are MANY. You want a membership site for your niche. Perhaps even more than one.
- Wishlist Member - Powerful plug-in for running full-featured membership sites using WordPress. Integrates with a ton of stuff. This is what I use for all my membership sites.
Click Here to view my review and why I recommend Wishlist Member.
How To Set Up, Market and Run A Membership Site
I have created a special series to guide you through this process. Let’s get started…
- What You Need To Create A Membership Site
You’ll need certain tools to get things set up. I share with you the package that I personally use and recommend.
- What To Put Into Your Membership Site (Free Versus Paid)
I’ll discuss what to put into your site, and how to determine what remains free and what goes into your membership site.
- How To Market Your Membership Site
This will give you the layout (with diagram) of how to set up an automatic lead funnel into your membership site.
- How To Keep Members Once They’ve Enrolled (Member Retention)
Once you’ve got members signing up, you have to keep them. Here’s how.
Related Posts on Membership Sites:
- Forget About Selling Ebooks. Here’s Something Better…
- Is “Nano Continuity” The Future of Blogging?
- The Quickest Path To A Market-Ready Membership Site
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