3 Revenue Generating Membership Models
Although it seems like everyone is creating a membership program or site it’s not a new thing. The membership model has been around for many decades. In fact there are a number of membership models that can and will help you generate revenue if done right. Many of the major companies we use in our daily lives are using one of the many forms of membership models to build their brands.
Do you want to design your own revenue generating membership model? Well why else would you start a membership program? Duh. I am going to share 5 here with you however do know there are many. You must find the right one for what your vision is.
Creating an ecourse is a membership model. If you create an ecourse and clients are paying you weekly, monthly or annually they are paying you a membership fee for your knowledge.
You can have an ecourse that you just drip information into the email and include upsells to work with you more closely in the footer of each lesson in that email or pdf.
You can also have ecourse that has a community attached to it like a Facebook or Linkedin Group. This will allow more engagement surrounding your course. Members can bounce questions and ideas off each other and even make each other accountable. You can jump in and add more value by getting involved in the community building.
Netflix has a large tribe of people who love to watch movies and TV shows at their leisure. We as consumers pay a monthly fee to have access to these services at our will 24/7. We are not speaking to anyone. We are not building a community. We are simply paying a monthly fee for an on demand service.
You can use this model and begin a program very similar. Some examples I have seen were video libraries or audios. You record video lessons or audio and charge a monthly service fee to allow access to your intellectual property. Your customers have access 24/7. You just have to keep it up dated weekly or monthly with new content and send an email announcing the new lessons.
Have you heard of Just Fab or Bj’s? These companies charge a membership fee so you can shop at a discounted rate either online or in the store. There are some companies that won’t allow you access unless you have a paid membership.
Like I said above there are so many more membership models you can adopt into your business. This is just a few. Let me know which model you will be using for your program?
Award winning entrepreneur, mentor, and Small Business Educator, ShaChena Gibbs is helping women across the US with starting a successful business from home. ShaChena Gibbs is the Founder of Real Sisters RisingWomen Business Association an award winning network for women. http://www.realsistersrising.com