Membership websites are a wonderful way to eventually earn a passive income online. But, it’s not all roses when it comes to membership sites. They’re not as passive as you might want them to be and sometimes the technology can be glitchy. However, that doesn’t mean you can’t do it successfully. It does help to know what you’re getting into before you do it, though.
It’s a Lot of Work Up Front
You must pick a technology, a niche, an audience, create the content, set up the payment processing, set up your marketing funnel, build an email list, build a hungry audience, prove your authority on the topic and so forth. This hardly seems passive. But don’t worry; it will pay off. The work is front loaded but becomes passive over time.
The Technology Is Hard and Expensive
This is both true and false. There is a lot of technology out there to choose from, and most of us think we can do everything ourselves all the time. But, if you don’t understand the technology, the simplest thing to do is hire someone to help you. You’ll spend more time and money trying to do it yourself if you don’t understand the technology than if you buckle down, hire someone to run the tech for you, and focus on curating, creating, and developing content.
People Leave Memberships Fast
While some memberships keep members year after year, the average amount of time people stick with monthly memberships is about three months. It’s important to understand this so that you can plan your marketing campaigns with that in mind. For example, you know that if someone leaves your membership, you need to send them follow-up emails triggered by their leaving to try to bring them back – or find out what you can do better. Also, that means you need to keep marketing the membership even if you think it’s full.
Coming Up With All That Content Is Not Passive
You’ve probably considered creating membership sites, but the thought of having to come up with content for the membership month after month may seem daunting and not passive at all. But remember, once you get started making money, you can become a manager in your business and outsource most of this. Plus, don’t forget that you can use PLR (private label rights) content.
They Can Be Reliable Monthly Income
A membership site, even though it’s front-loaded work that can be overwhelming, can become reliable and dependable monthly income over time. This is income that you can count on because once the content is created, or you’ve built your team, it’s going to be on automatic – even when you’re at the beach or visiting the Sistine Chapel.
The pros of running a membership site are clearly overwhelmingly in favor. Even the cons on this list can be turned into pros by following the advice. Membership sites are a great way to earn a recurring monthly income without breaking a sweat once you know who you’re doing it for, how you’re going to do it, and get the front-loaded work out of the way.