30 Oct 09 Are You Ready For Your Own Income Generating Membership Site?
Everyone would jump at the chance to have a membership site that brings in a monthly recurring income and have to do only a minimum amount of work if any at all.
Clue me in as to what the “membership site” is all about!
You are absolutely right! A membership site provides the same service for a group of people who have the same need or interest.
As long as they retain their membership, you will charge these people monthly, quarterly or yearly or whatever the terms of your contract with them states for using your service.
This is not like a one time sale offer for which you continually need to find new customers for. You will also not need to come up with any new products to upsell the current ones that are available. A membership site business will give you a reliable, stable and steady income each and every month. In order to keep your clients happy and turn them into a royalty customer depends upon your service to them.
If you are a good Internet marketer, you will need to have a membership site of your very own. You may never have thought about running your own membership site, but it attracts customers like flies to honey and in some ways it is easier to manage than the typical affiliate sites.
The goal of an affiliate marketer is to build a strong customer list. When you have a membership site, it is an excellent means of getting that list built up fast. The all important list is usually what a membership site is composed of – interested people who want to return to see what is being offered. People may join a membership site for a number of reasons. They may want to subscribe to a newsletter that you offer, they may be glad to get several things that they want all in one convenient place, or it may be something as simple as loving the font that you use on your site. No matter what the reason for their joining, members can be charged a monthly fee in order to get access to what you have to offer. This generally will consist of articles, services that are available to them, a customer service line for questions and problems and a forum to tie everything together.
When you have a steady stream of members who are paying you monthly, then it is easy to meet your monthly income goals. This can be in addition to any affiliate sales, or it may be used in place of them. Some affiliate marketers love to build their membership site rather than keep several different affiliate websites going. A membership site is able to be marketed more easily than several smaller affiliate websites.
Some membership sites on the Internet use their affiliate marketing programs to attract new clients. For members who bring in other new paying members, a flat fee or commission is given to them. This can also be done by waiving part of the membership fee for those members who wish to recruit. This does not cost the site owner anything, and it brings in new clientele at an exponential rate. Using a system like this, one can get large membership numbers much more quickly and it is also less expensive.
Membership sites are a safe way to protect against sales slumps. In a month that has a low sales volume, you can experience a cushion by a steady income of recurring monthly membership fees. If you happen to experience problems with your smaller sites, such as losing your search engine rankings or if a product of yours bites the dust, then the larger site can step in and make up for any lost income.
There are also free membership sites on the Internet that are set up in the same way, but these sites try to attract members by not charging any fees. The income that these sites will realize is in trying to obtain the largest list possible in order to market to in the hopes of getting sales. Having a free membership site will not bring in the recurring membership fees, but, in the long run, it will have a wider membership. Whether you wish to charge to have people enter your website or not, if you have a membership site, this is a strong marketing technique that will help to brand not only your information but your products as well.
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28 Oct 09 Niche Preservation: How To Carve Yours And Make A Profitable Membership Site
Membership marketing is the dream of several web entrepreneurs. Ideally, you want to do something, or find something regularly enough, that people will pay you money to tell them about it, or provide a service that they will pay money to get access to. Membership sites, done right, can bring in multiple income streams. Doing them right means doing targeted marketing and services and content. Targeting your market properly is a three step process.
Identify. If you already have a market in mind, great. You’re ahead of the game. Now, the next step is to see if it’s a market that will generate income. While generating a membership web site that just has members and no income is great ego boosting, it’s not good for the wallet. The key to identifying your niche is slicing it as fine as possible. For example, if your passion is classic cars, and passing on information about parts and refurb shops, that’s one thing – if you make it classic Camaros, you’ll target only those people with a passion for that make and model of car, and given the volumes of information pouring in to them every day, getting information targeted to what they want is worth more money. The basic equation of content is that paying you money saves your customer the time of trying to find the things you’re finding for them.
Brainstorming targeted niches needn’t be focused on a particular product. It also works to target a particular demographic, or a geographical area. Talk to your family, your friends, and business associates, and see if you can find that winning combination of membership niche and focus to get a nice stable business.
If you don’t have a market in mind already, focus on what you have a passion to research and what you have a passion to do.
Determine Demand. There are a number of ways to determine the demand of a niche. Start out old school – go the library and go to the book store. Look for what’s on the best seller list, look for topic areas of the library getting lots of traffic and look for sections of the book store, like cooking or religion or home repair, where an adjunct web site can provide timely information
Next, do keyword research for AdWords on Google, and look for things that got “missed”. Start from the general and work to the more specific, and again, focus on topics that you enjoy researching and have a passion about. This can help find several nice possibilities for profitable niches.
Keyword searches are great metrics for determining demand.
Research The Subject And Customer Demands. Go beyond keyword research to isolate and identify your target market. If your aim is off, your profits will be too. Look on forums and chat rooms; they’re a fascinating cross section of your potential market. The people who hang there are the most dedicated of your customers, and you can observe them anonymously. Look for the things they’re searching for and provide it.
If you’re feeling bold, register for the forum and talk to them. Ask questions. Look at the answers. You don’t want to give away the store, but a little Q&A is a good thing for identifying your customer base, and locking in on their needs.
You should also dig in to relevant web sites. Look at what sites are serving the niche you’re targeting and ask yourself what you can do better. Look at the products they’re offering, look at the advertisers on their sites as well; visit the sponsored sites and learn, learn, learn.
Back up your online research with another library visit. Read the specialist magazines devoted to your topic. Look at what products are being advertised, look at their editorial guidelines and look at their article submissions. Remember that magazine advertising costs anywhere from $800 per page to $5,000 per page – any company advertising here is probably worth approaching about advertising or affiliate marketing from your web site.
Research other informational sites – start with article directories, like ezinearticles.com Dig deep into them, and see what demand there is for the information. Look at the sites of the people posting articles and take notes about what they’re doing right that you can copy, and what you can do better to get an edge.
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