If you already have several info products that you're selling separately, a great way to create additional recurring income is to create a membership site where customers can pay a monthly or annual fee to access those courses and any others you create during their membership.
You can also add other valuable bonuses such as access to a Facebook mastermind group, monthly Q and A calls, or other exclusive content like resource lists and mini workshops.
But how do you actually make this happen? What are the nuts and bolts to creating a membership site?
Before you start building a site, let's look at some practicalities first:
Should you do a monthly or annual membership?
There are pros and cons to each. You may get more enrollments with a monthly membership because the costs (and perceived obstacles to signing up) are lower, but you'll also get more cancellations because members aren't committed for a long period of time.
With an annual membership, you might get fewer enrollments at first because the cost is higher, but you'll also get fewer cancellations and potentially more stable income.If you've been creating and selling info-products for a while, have you thought of starting a membership site to increase your profits? Here are the nuts and bolts of getting started! Click To Tweet
How much will you charge?
This is completely up to you! Of course, this will vary depending on whether you go with a monthly or annual membership model. Think about what you're helping your members accomplish, what their potential return would be, and how much content you have in your library.
Also, will you be providing any extras like access to a mastermind group or monthly coaching calls? Consider those when deciding your cost.
The key here is the results you're providing. Will your library of high-end business courses give your members the tools to triple their incomes? Will your collection of recipes and yoga videos help members improve their energy levels and therefore, productivity?
It's also a good idea to run this price past colleagues and conduct some surveys until you land on a number that feels right.
What will you call your membership site?
A lot of entrepreneurs include words like “school,” “academy,” “collective,” etc. in the name. Brainstorm some ideas until you find something that clicks!
The Nuts and Bolts: How to Actually Build a Membership Site
You'll need a few things to run a membership site: A place to host the content where students can access it, and a way to process payments.
Here are a few different options for these.
WordPress: All the major web hosting providers like Wordpress (my favorite), Squarespace, Wix, and Weebly can support membership sites. I highly recommend Wordpress, and you can create a membership site and accept payments with a few paid plugins. You can learn more about that here.
All-in-one platforms like Ontraport. Ontraport is mainly a mailing list provider, but you can also use it to build a membership site and accept payments. Use it on its own on in conjunction with another platform that only hosts the membership site.
Wild Apricot comes highly recommended for building membership sites easily. They have various plans and integrate with major payment processors like Paypal and Stripe.
Of course, there are other options for building the actual site, but I think these are the simplest and most reliable!
I know this is a potentially huge project, but I love huge projects! If you're overwhelmed and need someone to help you get your sh*t together, let's talk!