For many entrepreneurs, passive income options are the top choice because while they take time to set up, once they’re running, the amount of effort involved drops off. Even so, for many passive income streams, such as information products, you have start at $0 each month and hope you sell enough to meet your goals.The ideal online business involves both passive and recurring (continues regularly) income, and one of the best ways to have that is through a membership site.
Like a gym membership, in which you pay a monthly fee to use the gym’s resources, a membership site is a place where people can join to get whatever it is you offer. Many membership sites offer articles or reports, video tutorials, webinars, checklists, templates, apps or software, and more.
Generally, people join a membership site because it will simplify their life, speed up the learning curve, and/or give them greater detail on how to do something than general content offered online. For example, there are many online marketing membership sites that delve down into specific topics, such as how to write a successful Facebook ad, maximize Instegram and/or repurpose content across marketing platforms.
Many companies, including Microsoft and Adobe have begun to use the membership or subscription model in their businesses because there are many benefits to it including:
There are a few downsides to building a membership website you’ll want to consider before getting started.
One great thing about memberships sites is that there are a variety of ways you can offer one. The basic types of membership sites include:
Content in membership sites can be offered in a variety of ways. One is through email. For example, a course can deliver each lesson by email once a week. A daily deal or industry insight might deliver content daily.
Many membership sites have an online members area, where they can access the information. In this case, you can have all your content posted so the member can peruse and use at their convenience. Or you can provide the content on a schedule, such as a new PLR package, training or webinar once a month.
The ideas for membership sites are endless. The key to success is to find an idea that involves lots of content and that others would pay to access. For example, if you can teach guitar or cake decorating, can you set up enough lessons to make a full course and are there people who’ll buy it? It’s always best to consider ideas that benefit others such as saving them time and money, or helping them lose weight or get healthy. Business-to-Business (B2B) membership sites are ideal because even in tough times, many businesses will join and/or maintain their memberships if they believe it will help their business.
Membership (or subscription)-based businesses have many moving parts during the setup, but essentially, here’s what you need to do: