Tips on How to Make Residual Income from a Membership Site

tony

Tips on How to Make Residual Income from a Membership Site 

Succeeding in making money online is easier said than done. And if you have been lucky enough to make some few dollars from an online adventure, you can agree with me that it really is difficult to establish a stable source of income which pays well and is recursive. When looking for an online business to venture into, you definitely want one that pays well and has long term benefits. You want a model of online business that will culminate not just into instant pay-outs but residual income for the future. Such online businesses don’t come better than starting a membership site.

Membership sites are flourishing nowadays because bloggers and other online business owners have discovered how lucrative a venture they are. In a nutshell, a membership site is a more like a fenced off business model where only subscribed members can have access to the content and offers behind the fences. You fence off the premium content by adding a plugin to your website that lets only subscribed members log in and access the content. The content could be exclusive written content, lucrative offers, webinars, eBooks and many other pleasant things that would attract subscribers. The subscription can be yearly, monthly or even weekly depending on the nature of your products and the size of customers you are handling. The fact that you keep earning money from both new members and existing customers is the reason membership sites have flourished of late-but you have to be extremely good at what you are doing to have a chance of making it.

If you already have a blog with a large following and are earning from adverts on your site, it may be time to turn part of your services into premium products only accessible through subscriptions. Starting or turning your old blog into a successful membership site is no easy ask at all! You not only need the numbers but also a reason for the numbers to keep subscribing. You will be faced with attrition and a possible drought in terms of new subscriptions. Here are a few tips to get you started on how to make residual income by starting a membership site right from your home;

1. Think about a niche that will earn you followers

This is the first step if at all you want a steady income from your site. You’ve got to identify a niche that not only has a decent market size but has lucrative deals and products that are in demand. A little research will help you identify the niches doing well online and you should be keen cash in on these niches. If you already have a website doing pretty well, then you have an upper hand and will only need to adjust a few things before taking the big leap into membership.

2. Quality of content and products offered

The first step in earning followers is creating quality, interesting and satisfactory content that will make the readers and online visitors want to come back again, again and again. Create content so good that they will want to share the same with their friends and family. This is how you build a network out there and earn yourself a legion of loyal clients.

3. Engage the members constantly

Before you think about offering premium services, make sure you stay in contact with your visitors. Seek reviews of products or their thoughts on the website generally. Create a mailing list and constantly make them feel like you part of the business. Before you decide to start offering membership services, it would be brilliant to write an email notifying the members on your list about the idea.

4. Start small

The transition between offering free content and charging a fee for something people are used to accessing without paying a cent is normally the hardest period and will potentially define the path the business will take. The best way to turn your blog into a membership site is to begin small. Charge a small fee and make the service look too lucrative for the subscribers to resist. By the time you decide to increase the fees, the clients will be too hooked to your products and services to opt out. The secret is to begin small!

5. Offer trials and free subscriptions

Give out free subscriptions to give new members an inside access of what they are missing out on. A trial of say 30 days or 1 week will do the trick. During this period, give them a reason to actually subscribe now. Let them feel the need to pay their money to continue accessing your services and products.

6. Focus on what the members need

The ultimate goal of creating a membership site is to make a residual income without much hustle. To make this residual income, you need a large number of subscribers who actually renew their subscriptions every time the current subscription retires. You therefore need to focus on what they need if they really are to stay around. Look at the articles or offers that raked in the highest numbers for example and capitalize on similar ideas. You have to shift your model and adapt to the member’s needs if you are to succeed in membership site management. Succeeding in making money online is easier said than done. And if you have been lucky enough to make some few dollars from an online adventure, you can agree with me that it really is difficult to establish a stable source of income which pays well and is recursive. When looking for an online business to venture into, you definitely want one that pays well and has long term benefits. You want a model of online business that will culminate not just into instant pay-outs but residual income for the future. Such online businesses don’t come better than starting a membership site.

Membership sites are flourishing nowadays because bloggers and other online business owners have discovered how lucrative a venture they are. In a nutshell, a membership site is a more like a fenced off business model where only subscribed members can have access to the content and offers behind the fences. You fence off the premium content by adding a plugin to your website that lets only subscribed members log in and access the content. The content could be exclusive written content, lucrative offers, webinars, eBooks and many other pleasant things that would attract subscribers. The subscription can be yearly, monthly or even weekly depending on the nature of your products and the size of customers you are handling. The fact that you keep earning money from both new members and existing customers is the reason membership sites have flourished of late-but you have to be extremely good at what you are doing to have a chance of making it.

If you already have a blog with a large following and are earning from adverts on your site, it may be time to turn part of your services into premium products only accessible through subscriptions. Starting or turning your old blog into a successful membership site is no easy ask at all! You not only need the numbers but also a reason for the numbers to keep subscribing. You will be faced with attrition and a possible drought in terms of new subscriptions. Here are a few tips to get you started on how to make residual income by starting a membership site right from your home;

1. Think about a niche that will earn you followers

This is the first step if at all you want a steady income from your site. You’ve got to identify a niche that not only has a decent market size but has lucrative deals and products that are in demand. A little research will help you identify the niches doing well online and you should be keen cash in on these niches. If you already have a website doing pretty well, then you have an upper hand and will only need to adjust a few things before taking the big leap into membership.

2. Quality of content and products offered

The first step in earning followers is creating quality, interesting and satisfactory content that will make the readers and online visitors want to come back again, again and again. Create content so good that they will want to share the same with their friends and family. This is how you build a network out there and earn yourself a legion of loyal clients.

3. Engage the members constantly

Before you think about offering premium services, make sure you stay in contact with your visitors. Seek reviews of products or their thoughts on the website generally. Create a mailing list and constantly make them feel like you part of the business. Before you decide to start offering membership services, it would be brilliant to write an email notifying the members on your list about the idea.

4. Start small

The transition between offering free content and charging a fee for something people are used to accessing without paying a cent is normally the hardest period and will potentially define the path the business will take. The best way to turn your blog into a membership site is to begin small. Charge a small fee and make the service look too lucrative for the subscribers to resist. By the time you decide to increase the fees, the clients will be too hooked to your products and services to opt out. The secret is to begin small!

5. Offer trials and free subscriptions

Give out free subscriptions to give new members an inside access of what they are missing out on. A trial of say 30 days or 1 week will do the trick. During this period, give them a reason to actually subscribe now. Let them feel the need to pay their money to continue accessing your services and products.

6. Focus on what the members need

The ultimate goal of creating a membership site is to make a residual income without much hustle. To make this residual income, you need a large number of subscribers who actually renew their subscriptions every time the current subscription retires. You therefore need to focus on what they need if they really are to stay around. Look at the articles or offers that raked in the highest numbers for example and capitalize on similar ideas. You have to shift your model and adapt to the member’s needs if you are to succeed in membership site management.