How can I monetize my membership it. Well obviously the primary way you’re going to make revenue for your site is by the membership fee. So whether you’re charging 10 bucks or 30 bucks or 150 bucks, it doesn’t matter, that’s going to be the primary way to generate revenue. However, there are a lot of other ways that you can use your membership site for leverage in order to create either more products or more opportunities for revenue.
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This is really what everybody sees as the holy grail of making money on the internet whether or not it’s about money making online product or fitness or real estate or accounting or, you know, relationships or whatever. The key is that if you’re going to set up a membership site and you’re going to get this recurring income every month from all these members you got to get them to stick around. So this is a very important element and I think that in order to do that you have to do a couple of things. First, you have to have a price that, again, helps to see the value or is comparable to the value in a way that the member feels like they are getting the better end of the deal every single month. Okay?
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This is another question that I get all the time on Twitter and Facebook and even in person when I’m at live events and I’m speaking or I’m there as a guest. There are a few different options actually and they vary in their level of difficulty and their level of power.
The very basic that you can do for membership site is actually just to use Aweber believe it or not; use an auto responder system like Aweber in order to get somebody signed up to your program and every day, every week, every month you deliver content through the e-mail. So you can deliver content like a PDF as an attachment, you can connect a link back to a regular website or you can simply have text content in the e-mail itself. So don’t overlook that, it’s a very powerful and simple way to go about creating your membership site.
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Now, this is a common question that I get asked all the time and it’s actually pretty premature. The question you should be asking yourself first is what’s the purpose of my membership site and what kind of value am I going to deliver to the member’s as they come in and then you can determine what you should be charging. Now I will tell you that membership sites I’ve seen anywhere from $4.95 up to $500 a month and I know that there are some out there that are even more than that. The typical membership site that’s going to retain its members for quite some time is usually under $50 a month, a sweet spot is usually $19.95, $29.95, even $39.95 can do well. But again, you got to have a really key focus, a clear focus for your members to know exactly what they’re going to get and you’re going to have to over deliver on that content again and again and again. Okay?
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How does it differ from a regular website? Well, a membership site in general, there’s two, sort of, types of membership sites that I want to clarify. One type of membership site is where you have a member’s area and the content of the membership site is protected, someone needs to log in to the site with their e-mail address and their password and they have access to different pieces of information. That’s a general membership site and I have about 20 of those that I’ve created over time. Then you have another special type of membership site where you have to log in but the content is actually delivered over time.
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