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Making Money With Membership Sites

Leading Edge Web ToolsA few weeks ago I was given a reality check.

I asked everyone on my email list what they thought of my logo for my new membership site.

Well the results were very lopsided and the majority of the people agreed… GET RID OF THE LOGO!

I was disappointed at first because it meant I had to redesign the membership site, the 40+ videos we had already created and a bunch of other things.

However, I definitely think the new logo is a lot better and I’m proud to finally share it with you…

Web Tools

I think it’s clean, fits with my overall brand and doesn’t look like the “hammer and sickle” (blush).

The membership site is now getting close and I’m really excited to start giving you some previews. The business tools contained in this membership are AMAZING and I can honestly say that this project has been one of my most favorite to work on.

Why?

Because there are so many resources that I’m adding to the membership that I’m using in my business everyday and they are saving me a TON of time, making my life a lot easier and yes, some are helping me make more money.

It’s been a blast finding the content for this membership site.

Here’s what I’ve discovered…

When you personally enjoy and benefit from the product/content you are creating, then your excitement and passion naturally comes out.

…PLUS…

You can’t wait to work on the project!

You automatically want to make it the absolute best for your customers and that’s the mindset you want to have.

I’ve never created a membership site before and although I haven’t launched yet, I can already see the benefits…

  • All the content I add each month can (and will be) turned into individual products.
    • A membership site forces you to get your butt in gear and get that content created. It’s the best coach you can have!
  • It’s recurring income!
    • When you create individual products, sales can be somewhat sporadic. Some months will be a lot better than others but quite often it’s hit and miss. Membership sites change all that.
    • They create consistent, predictable income every month - you only make the sale once and yet it pays you over and over again.
  • It’s a much more valuable asset.
    • Having a membership site is a lot more profitable short-term AND it’s much more attractive for investors should you ever want to sell your business down the road.
    • Think about it, you not only have the content of the site but the customers AND regular monthly income

A few weeks ago I personally met with someone who gave me a great deal of insight about how to take my membership site to an even higher level.

Tim Kerber, MembergateHis name is Tim Kerber and he’s the CEO of www.Membergate.com (a high end membership management software application).

I had never met Tim before but I had the pleasure of getting to know him during dinner after I spoke at Jeff Walker’s Product Launch Formula Workshop.

Tim was there because Jeff has been helping him with the launch of a new product he is rolling out (you can see what they are doing by going to their website here).

Once we got talking we found out we had a lot in common and I really got to appreciate Tim’s genuine approach to business. He’s just a down to earth, nice guy who really takes care of his customers.

For example, even if you would like to purchase his membership site software, Tim actually calls you to see if it’s a good fit with what you are doing.

Many times he’s turned away a lot of business just because it didn’t make sense for either the customer or for his business (he doesn’t allow customers to use his software for things like pornography, gambling etc.). He’s not in business to make the quick buck and I think we can all appreciate that.

Anyway, during our conversation we were exchanging ideas about marketing and product launches when I told him about the membership site I am about to launch.

That’s when he told me to go and watch some videos that he recently created.

After viewing the videos, my income goals instantly grew!

My original goals for this site were to generate roughly $20,000/month. Now they are much higher.

Why?

Watch this video and you’ll get a glimpse of what I mean:

Membershipsite Bootcamp

Part way through the video I think you’ll realize (like I did) that it’s important to continually ask yourself this one major question…

“How Can I Turn My Product Into A Recurring Income?”

It’s a major shift in mindset but it will add a HUGE amount to your bottom line.

So here’s the lesson:

1) Listen to your customers (that’s what I did and now I have a much better logo - even if I was stubborn in the beginning!)

2) Create products that you actually enjoy yourself - it’s more rewarding, fun and you’ll end up creating better products in the end.

3) Think about turning your “one-time” product into a membership site. Recurring income is much better, more stable and you end up creating a better relationship with your customers because you connect with them every month.

For a free video on how to turn your knowledge into a recurring income then make sure you watch the video above. If that link doesn’t work then click here.

BTW - do you have any experience with membership sites either as the owner or as a customer?

Let me know what you like about them, don’t like about them and what you would do differently by adding your comments below in the section where it says “Leave A Comment”.


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About The Author
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Stu McLaren is a sought after marketing consultant for small business owners. He specializes in helping entrepreneurs leverage the internet in their marketing activities and is well known for his expertise in building and managing highly profitable affiliate programs.

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Other Websites of Interest:
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IdeaSeminar.com
MarketingWebGraphics.com
GetStartedWithInternetMarketing.com
GetStartedWithInfoMarketing.com
BasicListBuilding.com
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2 Comments »

Comment by Chuck Edwards
2007-07-17 23:24:11

If I knew what a membership site was and how it worked I would gladly comment on it. Any help I could get on this would be greatly appreciated.

Thanks,
Chuck

 
Comment by Stu
2007-07-18 09:28:05

Chuck,

Thanks for your question!

A membership site is a secured area where a product owner provides regular content to it’s members on a monthly basis.

The only way to access the content as a customer is by investing in the monthly membership fees.

It’s a great way for people to stay up-to-date with the latest content and it creates a real community within the membership itself.

As a product owner it’s a much better business model too because you are forced to create new content every month, it turns a one-time sale into a monthly revenue and you build a stronger bond with your customers which naturally leads to higher back end sales.

Hopefully that helps explain it.

Take care.

Stu

 
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