Today we are going to take a look at yet another membership model that you should consider using to create a source of recurring income.
Whether you are brand new to online marketing or have been doing it for a long period, recurring income is the mantra that you will hear again and again.
The reasons for this are many. Through setting up a system that runs on automatic, you can realize more freedom from the day to day rigor that other online marketing models require.
I will go into more reasons below, but what I am going to explain to you today is dovetailing, or putting two different models for making money together…
The result is that you have a business that largely runs by itself, where you can pay others to recruit more people that buy into what you are selling and share the resulting profit.
Ready to learn more? Let’s get started!
WHY YOU SHOULD CREATE A RECURRING INCOME STREAM
I am not the first one to push for online marketers creating money streams that run by themselves almost. Who would not want to make money even while asleep?
Of course, we all know that one of the advantages of online marketing is that you can make money from the comfort of your home or from the beach, where you can soak up the Sun.
People think that online marketing is no work, but if you have been in the business more than 5 minutes, you know that working online is hard work.
Online marketing is not a stable business by nature, just as traditional offline sales are not. Getting something in place so that you have a reliable and steady source of income is desirable…
Passive recurring income is the answer for this…It can give you that sense of peace because you know that no matter how many sales you make, that income will cover your expenses and then some.
What Is Passive Recurring Income
This is income that you receive where you are not trading your time for money. Very simple. It also means that you can be doing anything while you are making money. Nice, huh?
Having such a recurring income means no worries that you will have to go a month without earnings.
What we are going to discuss is setting up a recurring fee system for your clients or customers. where they have agreed to pay out each month in exchange for your products and services.
They agree to pay you each month in exchange for products and services you provide them. Once set up, they can access the products or services whenever they want, and you get paid regularly.
You set up a membership website and charge for your visitors to gain access to exclusive content you have created and added…
Meanwhile, you can keep up with your blogging and affiliate marketing as you normally would do, Since you know that the membership site is up and running, you can know for a fact that you’ll have income coming in each month.
Maybe you create an online course that has a monthly membership, or a web app, or some tools and free graphics, eBooks, landing page templates, that they can use as members? Add in a forum and you have even more value…
Whatever it is that you have added, your money now comes in without you having to trade time for cash – you do the work once and then just maintain and add to the membership site, and of course promote it.
In my opinion, this is the ideal online business model!
One way to get easy income from your blog site is to add eCommerce using several different tools and apps available to you. These platforms each work a bit differently, but all will help you make money without doing much work
The trick is to get the right kind of platform to best present what it is that you are going to promote, then adding such products and tools or services to the platform.
Choosing the right platform will help give you access to more features and plugins that come with the platform, ones that are familiar and trusted by prospective members, so they will build trust and encourage more membership subscriptions for you.
Below are are a few of the most popular options used today:
Option # 1 – Shopify
The Shopify platform is what is known as a hosted e-Commerce solution. Your store is not on your own host server, rather on theirs. This makes things easier in some ways, but also you have less flexibility.
This platform is used by a large number of big well-known companies, even some that are Fortune 500 companies. It can store and track 5,000 items that you can offer for sale. Overall, I think it’s very customizable, and has easy-to-install plugins available with just a few clicks and the solution is relatively low-priced to get started.
Option # 2 – Bigcommerce
The closest direct competitor to Shopify is called Bigcommerce. It is also a hosted platform you pay to use, and your site is maintained on their servers. The prices are close between the two, but Bigcommerce is a little more expensive. It also has fewer plugins available. For me, the main advantage is that international payments are supported in a big way.
Option # 3 – Magento
Magento is a platform that you set up using your own hosting solution. It is quite robust in that it’s capable of adding up to 500,000 items in the catalog!
On top of that, it is very flexible in setting it up and using it. In my tests I found it to be rather finicky, or unstable. Many large corporations use this. If you’re a smaller business, this one is likely not for you.
Option # 4 – WooCommerce
WooCommerce is based on a plugin on a WordPress site. As such, it seamlessly can work with your current blogging site likely, so less is involved getting it set up and working properly.
Woocommerce is also very easy to customize and to add features to, there are a ton of options and third party helpful add-ons…This is the one I have chosen to use for my own online eCommerce sales.
Option # 5 – Volusion
Lastly, the one I will mention today is called Volusion. This platform is an option that is particularly useful for marketers that are selling digital products.
As you can see there are lots of options available to you. You have to look at each and see which one would best fit your requirements and budget.
So now you are wondering how does the use of such platforms connect to content marketing and creating passive recurring income…Well please read on to find out!
COMBINING CONTENT MARKETING WITH A SHOPIFY STORE
Do you remember the title for this tutorial? If not let me repeat it here…
“Your Valuable Content + Easy Shopify = Huge Recurring Income”
One great and simple way to make money blogging is to take your current strategy, say affiliate marketing, add more content and then use the Shopify or similar platform to convert it from an eCommerce store into a membership site.
Just In case – What is Content Marketing Again
For those of you that may not know, content marketing is nothing more than marketing a website or blog by adding a great volume of content to it.
If done properly, you will get organic traffic looking for the keywords you have used to create the content through their searches, i.e. Google, Bing, etc..You also will have social media share buttons on the site so readers can easily share that good content with their friends.
Over time, as you add more and more content, you start to build trust and authority with your audience, and because of this, you can offer good products and services to them, and they will buy.
Here is a short synopsis of the process:
(1) Someone finds your posted keyword-rich valuable content through a Google search and on your site reads your post, article, tutorial, or review that you’ve written.
(2) While they are on the site, they learn something new, interesting and engaging…They are entertained and educated and take note of your logo and page…
(3) Over time visitors will decide to bookmark your excellent website, or perhaps will subscribe to your RSS feed, or maybe they will sign up to receive updates whenever you’re putting out new information.
(4) While this is going on, they see that you also have some extra content that’s” premium” and will cost them money to access. You manage to make it very clear that behind that paywall is your very best stuff that can really benefit them.
(5) Within your content marketing website, you make it very clear that what lies behind that paywall you will create is some of your very best content that can benefit them even more than what they are seeing for free.
(6) After a period of time, they make a decision to sign up for your protected content and become a paid member.
To make this process less stressful you can make this decision easier by taking away any unspoken arguments against them taking such action. You can provide a free trial membership, or you can provide limited free access to a tool or training, and you can make it clear it is very easy for them to cancel. Either way, you’ll now have a perfect means of converting
You can provide a free trial membership, or you can provide limited free access to a tool or training, and you can make it clear it is very easy for them to cancel.
This is an almost perfect means of converting even your first-time visitors into long-term readers and eventually they can be paying customers not only for the information behind the paywall but for other products that you promote.
Because what you have set up is a recurring payment by members, it is predictable and 100% reliable. You will have a percentage of new members who sign up each month, a percentage that cancel, and those that will stay the course.
This truly is a simple and easy method to secure a steady stream of money on a recurring basis!
IDEAS TO BEST MONETIZE YOUR MEMBERSHIP AREA
Now I would like to discuss what kinds of products or services to offer your prospects. There are several ways to approach this, and you will want to look at all of these, and use one or more that work best for your business …
Have Cheap Items Available
Remember that there is always a very thin line between success and failure when to comes to business, and that holds true for online businesses.
That is exactly what you have with your blog site, a business. Even if you have a seem to have a good business model but it’s not making a lot of money for you now, making a small change could turn that small profit into a huge one.
My advice: Test, test, and test…
Try adding at least one very cheap item that offers high value to your membership store. This can be offered to paying members who are already inside and marketed to those who are prospects looking at coming inside.
Here is Why I Recommend Having a Cheap Item
If you only have high-cost items or as some say ‘big ticket’ items within your membership area, you’re fighting to overcome two very powerful psychological barriers to ever making such a sale.
The most obvious barrier is the cost. If your product is expensive, people will require a lot of convincing before they will open their wallets and buy that something…
The second psychological barrier is the trust issue. People just do not like to buy anything online if they do not know you or hyour business.
They will be concerned about product quality, security of payment, how they get delivery, and a host of other concerns they may have…
For these reasons trying to convince someone to pay a lot of money for something that is very expensive on a site they know nothing about can be a very much up-hill battle.
But let’s say you have one or more cheap items alongside that expensive item. You likely can get them to buy one or more of the small and cheap items – even if such items are around $5.
They will have a chance to see how you do and then once they see that you deliver as promised they will buy more and for a higher cost. This holds true especially if you are providing them with great service and high-quality…
How To Increase Your Sales
If you have a membership site using an eCommerce store platform , no matter the kind of product you are promoting, whether it is a digital product, a physical product, or even offering a subscription, there are some proven techniques you can use to increase sales.
You want to capture the attention of the member, they need to instantly be drawn to what it is that you are selling or promoting.
I recommend using a bright red button and a clear call to action via text such as “Buy Now!”
Research has shown that if you make your buy now button red, it will get more clicks than using any other color.
Add Multiple Options At Different Price Points
Giving your prospects different options works because the potential buyer feels they have more control.
Create multiple ‘bundles’ of products. This might mean that you will let your customers buy more items at once and make bigger savings…
Or perhaps they can choose to buy fewer items from the larger batch of items and spend less money in total, but save nonetheless over normal prices.
There are a number of ways to set this up, but use this tactic, it really works, because people like to feel good about their purchases…
Bottom line is that if you help your customers feel as though they’re saving money or that they are making a smart and informed decision while they are buying from you…They will buy and often buy more…
Give Them Some Free Samples
As I was saying earlier, try giving some training or a tool away for free, in exchange for them subscribing to your membership area.
Let them see what the inside looks like and expose them to what other paying members are getting.
They still can buy other products, tools or services as free members from you, so one way or the other, this can be a good angle for you.
Offer a Free, Full Membership for a Limited Period
Let them try before they buy. You would not buy a car without driving it in all likelihood, and for many things in life, it is the same.
If they have a chance to take your membership area for a spin, they will be sold on it and gladly pay monthly for the membership…
TIPS ON GETTING MORE MEMBERS
Here are just a couple of ways I suggest to increase subscribers to your membership area or website…
Offer A Freemium Level Membership.
If you’re monetizing your website by selling a membership, then the main objective of the free content you create is now going to be to convert your visitors into paying subscribers.
This can be a highly lucrative business model and a great way to gain passive, recurring income. That has never been truer than today as people continuously look for free valuable products or information…
Convincing people to pay for your content can be difficult because of this fact. As a rule, most content we discover online is free and as such a lot of us aren’t used to paying for it.
If you want to make more money from your site, you’re going to need to think about how you’re going to cross that barrier and get people to put down money for content. Here are a few tips…
Here are a few tips…
Use Effective Marketing
Make sure that the marketing tactics you use will appeal to prospects on a psychological level.
People have always loved being a part of team and part of a community…
Explain to people that by joining your site they’ll be part of something special, exclusive, and exciting. and be sure to refer to your members as ‘VIPs’ or ‘exclusive members’.
Treat them special…Refer to members as ‘VIPs’ or ‘exclusive members’ and they will love you more!
Include At Least 3 Levels of Membership
Gove people choices and label them. I would suggest at least three levels of membership, in addition to a freemium and possibly a trial level subscription.
Maybe start at $9.95 a month for the starter level and incrementally increase by $10two more levels. Then throw in the freemium and trial memberships. With each increasing cost level, they get more access to the point they have unrestricted access…
Discount Pricing For Limited Period
One good way to sell a product people will find they can’t get along without is to let them take it home and use it for a week.
You can do something like this with your membership – let your prospects use the site for free during that week so that they see the full benefits and become big fans of what you do.
Only ask for payment once your visitors have seen that it’s worthwhile!
USING AFFILIATES TO SELL YOUR PRODUCTS
One of the most overlooked methods small online membership site owners have access to for getting more subscribers is to offer a commission to affiliates and have others sell your site membership for you
This can be tricky to set up, but there are a lot of tools out there to help you along the way. Rather than go too deep into this subject, I would rather just have you research the possibilities and decide for yourself how to do this.
There are standalone programs or WordPress plugins that will do this, or there may be options to use one of the affiliate marketing sites such as JVZoo or ClickBank etc, that would work…Best would be to look for and use an app available through Shopify