Members will only continue adding value to your business — in terms of their subscription payment — for as long as you add value to their life or their business through helping them to progress towards their goals or providing other benefits of a value which outweighs what your membership costs them.
Instead, invest time in improving the member experience, nailing your onboarding strategy, engaging with your community and striving to help them to achieve their goals. Their feedback and the way in which they interact and engage with your membership will inform and shape its future. By continuously working to make your membership the best it can be, keeping up with new developments in your market and listening to your paying members you have a far greater chance of ensuring that your membership stands the test of time and remains relevant and essential to your community.
Or, you can throw members into the deep end with full immersion access on day one and let them work as fast, or as slow as they choose. There are no hard and fast rules here. This works well for bigger, more detailed courses that take a long time to complete. Fixed-term access is perfect to create a sense of urgency to encourage new members to complete the course.
Single-level access means a fixed program structure. You may have one or more programs that solve a specific problem, which is best suited to a dedicated, single-level or set structure. Or, you may offer a program in which three tiers work best. You can offer online access at a base level and leverage one-to-one access to you at your top level. Regardless, now is the time to step up and decide.
Could this be one of those decisions? Using a plugin gives your readers a sense of familiarity as you can maintain brand consistency and probably reuse your existing website theme. Plugins these days are remarkably easy to get up and running too — even for non-techies.
Just pay a subscription and have fun with the drag and drop builders to customize and upload your content. Job done.
It takes a certain kind of person to jump into content and community membership management like this. Could YOU realistically expect to make any money? About The Author. Miranda Hill Miranda Hill is a qualified coach, behavioral profiler and writer who helps people to master their performance in business and life. In this example from the Reading Teacher membership site, you can see that they offer 3 different options.
Free, monthly, or lifetime access. Free membership sites have their own unique advantages. Also, think about the type of people who are likely to be interested in having access to your community. Are they an older crowd or younger? Are they currently in school? What about stay at home parents, who often sacrifice a second income in order to be able to stay at home with their families? The strategy behind this membership model is that you can be generous with your free content, but also build in an upgrade path to your paid offerings.
You can do that by showing a free member what exclusive content they can get access to by upgrading. This is what we do with our free 30 Day List Building Challenge. Anyone can join for free, and access the full 30 days of training videos and downloads.
The amount of value she packs into that course is impressive. And allows her to confidently deliver valuable content to free members. The long and short of it: to maximize the revenue from your membership site, use the Login Optin strategy to attract new users, then design an experience that naturally and organically introduces them to your other products. Creating a membership site is a big undertaking.
The first step to designing the perfect membership website? Taking the plunge. If you have an active fan base or online following, the first thing you need to do is ask your audience what they want from you. At first, it might seem intimidating, especially if you will need to produce new content regularly. Your customers will value the time you put into your site and will refer other people to do business with you, too.
There are a lot of membership site platforms to choose from. Starting with SaaS hosted solutions that tend to be easiest to get started but might lock you in and not have the functionality you need long term. It handles everything from taking payments for your subscriptions, to delivering content, learning management, and integration with your email marketing platform.
Click here to compare membership site platforms. Offer free access to your content, start building your email list and using email marketing to warm up potential customers. People want to learn and grow with you and the site. From there, market, market, market! Use your social media accounts and current website to seek out people who will be interested in your new community.
Then tailor your community to the needs of its members and watch it thrive! Once your membership site is up and running, set aside time to review important business metrics on a regular basis. Creating an online membership site is a wonderful way to interact with your fans, engage with people who care about your products, and deliver an amazing learning experience. Especially when you pair your membership site with AccessAlly Pro!
The type of membership website you design is up to you, but the sky is the limit when it comes to the people you can reach.
Take the plunge and see what you can accomplish! Congratulations Nathalie on your pregnancy. This came right on time! Just yesterday I was wishing I could see the inside of some membership sites! Here are a few guidelines to help you manage your Facebook group:. Average customer lifetime value LTV refers to the average dollar value that a customer is worth to you over the life of their membership. Knowing your average customer LTV will also help you determine how much you can spend to acquire a customer and still be profitable.
Churn rate is the rate at which your students cancel their subscription. To calculate your monthly churn rate, divide the number of members who canceled their subscription in a given month by the total number of active members you started that month with. For the purpose of calculating churn, you ignore any new members who joined during the same time period. Your growth rate is the rate at which you are adding new members to your membership site over a specific period of time weekly, monthly, quarterly, etc.
To calculate your monthly growth rate, for example, you would divide the total number of active members you added in the past month by the total number of active members you had a month ago. Then, multiply that number by to get a percentage. In order to run a sustainable and profitable membership site business, your growth rate needs to be greater than your churn rate.
Conversion rates apply to virtually any process where you are asking someone to take a specific action. The conversion rate of that process is the percentage of people that take that desired action.
Here are two common conversion rates that membership site owners should be tracking:. The AARRR acronym comes from the stages involved in acquiring and retaining users in a way that ultimately converts them into revenue. Member retention is as, or more important than getting new ones. Trying to grow a member site with a big hole in your funnel would be like spinning your tires — hard work but going nowhere. What makes the membership site model work is member retention.
If you are unable to retain your members, it will be very difficult to build a profitable membership site Business. That is what a member onboarding process is for. Member onboarding is the process of integrating a new student into your membership site effectively.
The goal is to get them up and running, consuming your content, and experiencing positive results as quickly and as smoothly as possible. Kate Erickson PodcastersParadise. As we covered earlier in this article, activation and retention are critical for the long term sustainability of a membership site. A few tips on customer service:. Creating a successful membership site is a long game that takes persistence. It will take time to build up your audience, your platform, and find a content mix that works.
The good news: there are many successful membership site examples from Thinkific users who were once in your shoes… and some are now seeing 7-figure income and beyond! What are you waiting for? Create your membership site on Thinkific today. Before you invest time and money creating an online course, you need to make sure people will buy it. Here are 5 steps to validate your online course idea. Blended learning is an approach to learning that integrates online education materials and place-based classroom methods.
Here's how to approach! Download this guide and start building your online program! Skip to content. We recommend using a different browser like Google Chrome. Access to a community of like-minded people is a major selling point of most membership sites Emphasis on retention — The membership model relies on retention. By maximizing retention rates, you increase the lifetime value of your customers — ideally to a greater value than the one-time purchase price of an online course.
In other words, with a membership site, the sale is only the beginning of your relationship with your student Benefits Challenges Recurring Revenue Higher Customer Lifetime Value Lower Acquisition costs Creating community around your brand A launching point into additional monetization opportunities User retention is key A requirement to continually publish fresh new content Chicken vs Egg: What comes first, the community or the value? Define your ideal member and target market Validate your membership site idea Pricing your membership site Choose your membership site platform Design your membership website Creating membership site content Building your community 1.
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