Can You REALLY Make Money With a Membership Site?
When most marketers decide to start selling information products online, they usually start selling e-books. But did you know that you can offer the same information in a slightly different format and actually make more money? It’s true. And that’s exactly what you’ll learn how to do in this article.
Let’s consider for a moment the different ways you can deliver content. We’ll focus mainly on the online methods, although you certainly can deliver physical products such as books and home study courses and live events such as teleseminars.
Here are the main downloadable options:
- E-books and reports. Almost everyone who sells information online offers e-books and reports. Usually, these are low-priced ($50 or less) and sometimes free. It’s a great choice for entry-level products to pull people into your sales funnel.
- Audios. Audio interviews and audio e-books have a slightly higher perceived value. That means you can take the same information as an e-book, turn it into an audio and charge a higher price.
- Videos are the next step up, meaning you can take the same information as offered in an e-book or audio, turn it into a video and people will consider it to be worth more. Naturally, that means you can charge more.
- Membership sites. The perceived value of a membership site largely depends on what you’re offering in the site. For example, an e-book-only membership site is going to have a lower perceived value than a site that includes videos.
Now, you may want to incorporate all four of these products into your sales funnel. For example: You can use your e-books as entry-level products, your audios and videos as intermediate products, and your membership sites for your expert-level products.
But here’s another idea…
Just skip all the other products and get people directly into your membership site. Indeed, you can use your membership site as a sales funnel. That means you can offer free “bronze” memberships and then upgrade your free members to paid memberships.
If you’ve spent any time studying membership site marketing before, then you already know just how profitable it can be. In fact, I bet you’ve even crunched the numbers before. For example, if you get just 1000 members paying you $17 a month, you pull in a cool $17,000 every month.
Well – close but not quite.
You’d pull in $17,000 every month only IF you can keep all 1000 of those members… or if you can rapidly replace the members who are constantly quitting the site. Most marketers can’t do that. And so their sites eventually just make a couple hundred dollars a month.
You see, that’s because most membership site marketers don’t consider the churn rate (that’s the number of people who’ll drop out of your site every month). Truth is, most customers who are paying a monthly fee in a recurring membership site cancel after just three, four or maybe five months (if you’re lucky). And so you need to work hard all year around just to keep your membership numbers up.
Now before you toss out the idea of running a membership site, let me tell you that there is an easier and FAR more profitable way to do it. And best of all, it’s easy to get members because you don’t even have to sell anything on the front end.
Sound a little too good to be true? It’s not. And if you act right now, you can get all the details for free. Go to Membership Marketers Club now to find out how you can triple YOUR membership site profits!