Way
No 6 - Create A Membership Site
A
membership site is a private website, with exclusive content
available only to the signed up members.
It
usually provides members with the ability to interact with each
other. They pay a monthly fee for being a member of the website.
Suitable
For -
People
who like to interact with, guide and lead a community.
Skills
Required -
1.
In-depth knowledge of any particular domain.
2.
Ability to research new things and constantly generate new and
helpful content.
Time
Required For Creating A Membership site -
Depends
on the domain expertise of the creator.
Do
Google search for Matthew Woodward's tutorial on how to create a
membership site for free.
Tips
-
1.
In the beginning, keep the fee for joining the membership site
ridiculously low. Aim to create a minimum viable product instead of
creating a perfect product. You can always improve your site in later
stages.
2.
If you’ve never been a part of any membership site till now,
consider joining a few related to your domain. Study those sites.
3.
Find what’s working well for you and other members of that site?
What’s makes it worth the monthly fee and how could you replicate
this?
4.
Interact and engage with members. Your membership site shouldn’t be
the one that only drip feeds the content, with little or no input
from the owner.
You
must provide insider access for your members who want to communicate
with you. Even if you’re busy, you must spend at least half an hour
a day to get involved with your membership site.
You
can do this by many ways, such as you can interact with the members
answer their questions or even lead an interaction inside the forum.
5.
Run group events and challenges to increase members’ engagement
with your site. Organize regular events, challenges, or similar.
Make
it easy for members to participate. Offer prizes, display
leaderboards or similar such things creates a great incentive for
members to participate and get involved.
6.
Periodically review what’s working and what isn’t. Try to adapt
the site based on the member's’ needs.
For
example, if you offer most of your content in text format but your
members are engaging more with the video content then shift from
text-based to video content.
7.
Try to introduce new initiatives and see how your audience is
responding to it. Such as live Q&A calls or similar.
But
be careful, don’t overwhelm members with several different
initiatives at once. Introduce one thing at a time.
How
to Monetize -
Monetization
is very simple. More members sign up to your website more income you
generate from the monthly fees that members pay.