Membership Sites
How To Make $250,000 By Launching Your Own Membership Site
Would $100,000 A Year Change Your Life?
You’ve probably heard before that if you really want to make big money online you need to release your OWN product. I totally agree with this.
If you’re planning on releasing a product online, why not make use of the best business model there is – the membership site model?
Let’s look at some numbers so you can see how really EASY it is to make good money with a membership site. I’m going to use two extremes in terms of pricing models you can use with membership sites to demonstrate the profit potential.
Example 1: Price your membership site at $29 a month
This is the “low price, high volume” model. Your goal is to attract many members at a low price. This is a great formula because for the individual customer the cost is very affordable – $29 will not break the bank and is less than what most people spend on coffee each month. Thus it is relatively easy to convince a lot of people to join.
However, from your point of view it doesn’t cost more to deliver your membership content if you have more members. Your capacity to scale is near limitless assuming your are selling digital goods, so you can take on as many members as you can get.
If you only bring in 100 members at launch at $29 a month that’s $2900 a month, or just over $32,000 a year. That’s a salary-replacing income for some people.
If you follow my system for launching a successful membership site, 100
members using the volume model is a worst case scenario. I’m so confident in the system because what we are looking to do is convince only a very small percentage of your overall audience to buy. If you can build a list of 5,000 people, to convince 100 of them to join your membership is not a hard task, it’s only 2% of the total.
My own launch of another membership site using this model (priced at $27)
garnered 1,017 members ($27,459 per month!), and I’m very confident you could do much better than 100 members if you put some effort into your launch.
Let’s look at a more “average” outcome. If you can attract 350 members at $29 a month, that’s $10,150 a month, or $121,800 a year . There are expenses to come out of that money and you have to pay affiliates too, but you can see looking at the numbers, making $100,000 in a year with just one membership is not nearly as hard as you think.
Example 2: Premium Price – Charge $999 A Month
This pricing model is the other end of the scale for a membership site. Charge $999 a month and aim for just 10 members.
That’s well over $100,000 a year and while the price is high, if you have a list of 5,000 people, convincing just 10 of them to join your membership site, if you use my system to position your offer right, is not that hard. You can even “limit” your membership to just 10 people, reinforcing the scarcity of your offer and enhancing the image of premium quality.
You need to choose the right pricing model for your membership site, but I see $100,000 as a very realistic target for every person reading this report and there’s no reason why you can’t do it too. Bear in mind that goal is from the FIRST launch of your site. From there you can do closing down sales, joint ventures, relaunches and all kinds of things to take your income further, all from the one membership site….(following, next soon)
With courtesy of Yaro Starak
Membership Site MasterPlan
PS: Don’t want to wait? Grab the free report filling the form.
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Tags: Audience, Business Model, Coffee, Extremes, High Volume, Launch, Members, Membership Content, Money, Point Of View, Pricing Models, Salary, Volume Model, Worst Case ScenarioPosted in 0
