I’m a member of two or three membership type websites and I’ve often wondered if I should start one. I know of people that are making a great living by running a membership website and I believe that with the right plan you can make a full time living only by adding membership to your product range. Personally I love the residual income that membership websites offer and it also helps maximize revenue streams.
Here are ten reasons why membership is lucrative:
1. You’ll Feel Good
When you can offer something to others that they need and want, you’re going to feel positive about it. This makes a membership website more lucrative because you’re going to not only make money, but you are also going to want to keep adding to it, giving more and more value. Which in turn means that going to work actually becomes fun, and you end up going having fun all day.
2. Low Initial Costs to Start a Membership Website
Provided you choose your software properly and take into consideration your own level of knowledge, the start-up costs are reasonably low, and well within the reach of most people.
3. Residual Income
If you haven’t experienced the joy of residual income which means the consistency of a regular income, you will when you start a successful membership website. People start them for a reason, and people also join them for the same reason.
4. People Like Privacy
Members join a club for privacy because they can go to a membership site and talk about what they want to without worry that it’s searchable by clients and associates on the internet.
5. You Can Do It Alone
You don’t need a huge staff to help you build or run a successful membership website, in fact I know of one that boasts of over a thousand members that is run by one person. Once you get the technology set up, you just have to add to it on a regular basis and participate in discussions in the forums. If you do a drip membership, you can set it up and forget it, less staff equals more profit and a drip membership means that you stagger the content that you have to new members, so that each month something else is automatically dripped to them, without you having to add anything, although you should ensure it is updated from time to time.
6. You Have Something to Offer
Anyone who has something to offer, that others perceive of value, even if it’s the smallest niche can start a membership website that is successful.
7. Add Value to Your Current Business
If you already have a business presence online, adding a membership program will often take your business to the next level, remember it’s the perception of your audience that counts.
8. People Want Exclusivity
Membership makes people feel special, elite if you like, as if they’re part of a secret group of movers and shakers. Therefore, getting people to join isn’t hard as human nature drives them to get involved. Getting them to remain members is a little more work but if you focus on value, value and more value, you will do it.
9. People Expect a ROI
People join membership sites expecting to get massive value out of the membership. And as long as you can provide that to them, then not only will they feel they’re getting a return on their investment, you will too as they will hang about.
10. People Are Curious
People will join simply out of curiosity to see what’s inside. It’s up to you to hold them there to increase your profits, and if you have lots of initial value and are using a drip type membership you could consider offering a free trial membership.
If you market your membership website correctly, you will have a successful online membership business, provided that you’ve done your homework on starting it in the right niche and provided you give real value. People want to feel as if they belong and are part of a community, and they like having privacy. If you have information to offer, a membership website is a great way to do it and remember all of those members are out there often acting as great sources of referrals.