If you’ve been Internet marketing for any length of time, you’ve probably heard that continuity and membership sites are the way to go because you make money month after month. It’s true the potential is HUGE.
But it’s not that simple…
Membership sites only work well if members that join stay for several months. If members drop out after 1 or 2 months (3 months is average), you’ll spend all of your time trying to replace lost members while your income keeps shrinking.
With membership sites like that the recurring passive monthly income is an illusion. It’s really no different than selling a one-time product.
Here’s how to run a membership site the right way:
1. Have a compelling reason to stay
For members to keep paying you, they need to keep getting more value. If members can ccess everything of value in the 1st month, there is no point for them to keep the membership and most won’t.
2. Get feedback and improve your site
Setup a way for members to communicate what they like, don’t like, and want. Then make adjustments and give them what they want. Members will stay a lot longer if they see you are committed to helping them and giving them what they want.
If you can get feedback from members who cancel also, it will give you clues as to what you need to change keep people.
3. Price it below the pain
The more expensive your membership site, the more members you’ll have cancel as a general rule. If money is tight, people look at their monthly payments and start cancelling them first. If your site costs a lot per month, it needs to really create massive value or you’ll lose people.
If you can price your site low enough that the monthly payment doesn’t ‘hurt’ people’s budgets you’ll keep a lot more members (many gyms have realized this and dropped their membership fees to $20 per month–they know a lot of people won’t even use the gym but at only $20 per month they will keep the membership ‘just in case.’)
If you decide to start a membership site, keep those points in mind.
Make it happen…
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