| Membership web sites are great ways to make | | | | information products and bundling them |
| residual income. Selling information via | | | | together into one location; your time spent |
| password protected web sites is a big | | | | packaging and sorting is worth their money. |
| business, and it has a low barrier to entry, | | | | Your willingness to be "eyes ahead" to look |
| and minimal operating costs. Unfortunately, | | | | for new products in that niche is time they |
| you aren't the first, or even the thousandth | | | | don't have to spend, and in this day and age, |
| person to realize this. What do you do? | | | | time is more precious than money. This |
| | | | applies if you're selling informational |
| While it's a hot business model, not every | | | | goods, physical goods, subscriptions to |
| membership site will pull people in, and even | | | | newsletters, or services. You have to package |
| the ones that do, some don't make a lot of | | | | what people want so they'll buy them from |
| money. There have been far more failures than | | | | you, not your competitors, and all you have |
| success stories with membership sites, though | | | | to do is convince them that you add enough |
| part of that is simply keeping track of | | | | value by saving their time to be worth your |
| expectations. The single most common site | | | | monthly membership fee. |
| crippling and business killing factor though, | | | | |
| will surprise you. It's something so | | | | Now, differentiation from the competition |
| elementary that you'll smack your forehead | | | | does take work; look into alternate formats |
| and wonder why people make this mistake, | | | | like audio, video and ebooks. Give your |
| repeatedly. | | | | consumers choices about how they get their |
| | | | information and how they use it. Offering |
| It's failing to do the market research to | | | | audio and video formats pays for itself |
| ensure profitability. | | | | rapidly in increased memberships. |
| | | | |
| It's not rocket science. You need to sell | | | | Next, keep it fresh. Always be on the lookout |
| what people are already inclined to buy. | | | | for something new, something fresh. Focus on |
| Don't reinvent the wheel. Don't do this for | | | | giving new, enticing offers to keep those |
| art's sake - it's commerce. | | | | membership fees coming in. And don't get |
| | | | complacent. We've seen well done membership |
| Identify your target market. Sell them what | | | | sites; ones with good site design, great |
| they're already buying (and thus, already | | | | keyword placements, loaded with products |
| want). Listen to what else they want and | | | | people wanted to buy, easy to use, and |
| expend your range of products and services to | | | | customers signing up in droves...and all |
| meet their demand. | | | | worthless three months later, because the |
| | | | site owner didn't capitalize on the momentum, |
| Admittedly, this was an amazing sea change in | | | | and run to keep ahead of his customers. |
| product launches back in the 1970s, but it's | | | | |
| going on 40 years since the concept of market | | | | Your typical customer will buy things every |
| research to tune a product launch hit big | | | | four to six weeks; make sure you have |
| business and trickled down to ubiquity. And | | | | something new for them to buy every two weeks |
| yet, time and time again, internet squeeze | | | | or so. Basic rule of shopkeeping; always turn |
| sites keep selling what the owner thinks will | | | | the products on the shelves, or in your case, |
| sell, not what the market has told him will | | | | the product on the web site. |
| sell. | | | | |
| | | | Lastly, solicit feedback from your customers. |
| The usual excuse is "Well, what am I offering | | | | Work with them. Listen to what they have to |
| that they can't get elsewhere, buying those | | | | say, and adjust course based on it. It's |
| products individually?" | | | | their money, they're just telling you why |
| | | | they want to give it to you. Do this every |
| Knowing what people are already buying, you | | | | week or every month, and your paychecks will |
| have the MUCH easier task of packaging those | | | | grow nicely. |