How you set up your site has a tremendous amount on the money that you will make. Free membership sites do very well with Adsense revenue and product revenue. However fee based sites stand to make money in a variety of ways. Here are some basic subscription options and how to make the most of them:
Standard Monthly Subscriptions are the normal course of action for a membership site. They work well for a well maintained website where the content is always fresh and youâ ™re always providing value. (If it isnâ ™t, members wonâ ™t renew.)
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The standard monthly membership site looks like this:
Members have access to a large amount of quality information about your niche subject, whether that is in the form of interviews, audio course or articles.
Members are able to access to a forum where they discuss aspects of your niche subject, ask advice, and network with people who are also interested in that niche subject.
Members have access to some free downloadable products such as e-books, seminars and audio files.
Upgraded subscriptions, like silver, gold, and platinum, are a profitable alternative to the standard monthly subscription model. It is one way of initially wetting the appetites of your members and to get them involved in the site so that they spend more money in the future.
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Donâ ™t forget to lure your subscribers into upgrading their membership by offering benefits and making upgrades available often.
A one-time fee joining fee model works well if you plan on continually offering content, valued added resources, and multiple streams of revenue. You may also charge a one-time fee to join as well as a monthly subscription. This model creates an impression of esteem and a high level of credibility. Additionally, it will only attract members that are truly interested in your site.
How much will you charge?
First and foremost, donâ ™t be afraid to charge subscribers what youâ ™re worth â “ even if you consider it to be fairly high.
People know that they have to pay for quality and theyâ ™re willing to do it. Additionally, you know that your members are serious about belonging to your website.
Make your site worth the money. If you charge a high monthly subscription, make sure that you continually offer high quality products. One low quality product will cost you a member and years and years of profits.
If youâ ™re offering a one time subscription, say of $1000, then you want to make sure that you have multiple streams of income in place so that you continue to make money.
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Managing Membership Fees for Maximum Results