Did you know that there are many advantages to having a membership site? Most people create products and only make money when the transaction takes place. However, membership sites are different. These are the 6 reasons why you should have a membership site.
- Consistent revenue with a gradual rise. This is the big one. Instead of hoping your products keep on making sales and you keep on seeing a profit, a membership site will bring in consistent revenue with a gradual rise. Imagine charging $49 a month and having 200 members. That’s $9800 every month! Products that don’t have a membership do not bring in this consistent revenue as often.
- There is less work on your part after the first year. During the first year of a membership site, you would have created the videos and content that went into the membership site. In future years, you will already have the product in place which will allow you to spend more time creating other membership sites and promoting the ones that you already have.
- Having a membership site is one of the seven traits of internet millionaires. The membership site also does a good job at laying out 5 of the other traits as well. Imagine how your life would change if you were making over $1 million every year.
- Membership sites give you the option to promote your other products. There are many people who give away free products just for joining the membership site. These people commonly give away their own books to all of their members. These people still get to make a profit, and being a bestselling author becomes a lot easier.
- You can build a community in the membership site’s forum. The first year is a challenging process because responding to other people in the forum may take up a lot of your time. However, the forum puts you as the #1 go-to expert, and the forum will eventually become a strong community. Then, members will be answering other member’s questions. Everyone ends up winning!
- You gain credibility. Imagine you met with two entrepreneurs. One entrepreneur says he has a lot of potential while the other says he has multiple membership sites and books. If you could only choose one, which entrepreneur would you choose to work with? Chances are you would choose the entrepreneur with multiple membership sites and books. These are also the kinds of decisions that big media outlets make before interviewing people.
Those are the 6 reasons why you should get a membership site. I am going to have my own membership site up before the end of the summer (about social media, of course). What will your membership site be about?
Please share examples of some successful membership sites. Im not sure what exactly they are…
Membership sites are sites with a monthly fee. HootSuite University is a monthly membership site.
Hi Marc
Thank you for sharing your knowledge.
I am working on my thesis and would like to evaluate membership sites for non-profit organizations (in my case providing advice to car crash victims).
Could you recommend sources that provide further information on the topic of membership sites or any good examples? Wouldn’t have to be specifically for non-profit .
Brendon Burchard has some good examples of membership sites (and training courses). He gets your email by offering an irresistible free prize and then sends a series of follow up emails. Then he promotes his membership site and gets numerous buyers.
Hi Marc I want to create a membership site where people share their blood test results so we can demonstrate safe and effective dosages of VitaminD and nutrients that aren’t patentable.
In my opinion, your membership site sounds more like coaching. In addition, some people may be sensitive about sharing their blood test results or anything along those lines.
Thanks Marc. The idea of a membership site is compelling to me and I’m anxious to watch and learn as you build your site. My site would be helping people transform their lives from victims to victors by giving them the tips I’ve learned while on that journey.
I am eager to create my own membership site, and it is a project that I will pursue over the summer. I think your idea is a very good one (I won’t steal it. You don’t have to worry).