Every online business is interested in building a stable, recurring revenue stream, and they can with a membership site. Membership sites are different from the traditional websites that most online businesses are familiar with because instead of creating content from time to time, you create content on an ongoing basis that your target audience pays a recurring fee to access the content.
The kind of content that you create will vary, depending on your business. Creating a successful membership site isn’t easy, but with these top tips for creating and running a successful membership site, you’ll soon be generating the recurring revenue that you’ve always dreamed about.
Offer a Free/Paid Trial for New Members
One of the easiest and most effective ways to market your membership site and gain more paying members is to offer subscription trials to your target audience. Offering a free or low-cost trial allows you to tackle a lot of questions directly that your users might have.
Create Multiple Subscription Levels
When it comes to having a successful membership site, there are only two ways that you can make more money. You either need to get more customers, or you need to make your current customers spend more money. A smart strategy is to increase the average spend per member by creating multiple membership levels. Rather than offering a single all-access membership, consider creating two or more membership levels with different fees.
Create Multiple Kinds of Content for Your Site
The core aspect of any membership site is the content. If you can deliver value to your target audience while keeping them engaged, they will continue to subscribe to your site as well as asking you for more products and courses. To ensure your members are getting real value, make sure you have a wide array of content for their viewing. Make sure to include videos, downloads and resources, live webinars, and more on your site.
Reward Your Members for Taking Action
Not everyone is equally motivated to take action. If you run a membership site, you know that most people need extrinsic motivation to take action. This means you need to have a strong strategy for rewarding your members. Not only will this help you to motivate your members, but it will also help you to build your target audience loyalty.
Membership sites can be incredibly powerful and are a great way to help your online business build recurring revenue. If you have been thinking about starting a membership site, use these top tips, and get started today.