You’ve seen me and so many other experts out there going on and on about the power of membership sites, and that’s because developing a membership program really is transformational for your business and brand.
If you’ve been growing your audience for a while, maybe selling products or services to them, and you’re wondering whether a membership community is what your audience needs, then this blog will give you a whole new perspective on the power of building a membership program.
So in this post, I want to share with you the 2 things that should sway your decision if you’ve been unsure if you should build a membership site for your audience.
Lesson 1: Recurring revenue means peace of mind and financial freedom!
So many entrepreneurs take the leap from earning a steady income through a 9-5 job into the “uncertain income” that comes with building your own business.
When you’re jumping from month to month, constantly worrying about generating enough leads, converting customers and making that next $1, it feels like an exhausting, emotional rollercoaster.
Just think about how many of the things we buy into nowadays come in the form of monthly subscriptions.
From tv, music and data storage to food, vitamins and beauty products. Companies are falling over themselves to switch over to a recurring revenue model because it brings certainty, stability and scalability.
If you’d love to have a really clear idea of how much revenue your business will generate this month, next month and the month after that, building a recurring revenue model (such as a membership site) is absolutely the way to go!
Just think…how transformational would it be if you had…
- 100 members paying you $37 per month and generating $3,700 in recurring revenue?
- 350 members paying you $37 per month and generating $12,950 in recurring revenue?
- 5,000 members paying you $37 per month and generating $185,000 per month in recurring revenue?
… would THAT make a massive difference to your life and your business? (I’m guessing the answer is a resounding YES!)
Want to start and grow your own wildly successful membership site?
Click here to check out this online course that will help you go from idea stage to launching and scaling your membership
Lesson 2: Building a membership means building a community of super fans
The essential foundation to build and grow absolutely any type of successful business is to build an audience that loves what your business is all about.
We all know the essentials of building an audience… growing an email list, finding followers on social media, driving traffic to the website, networking and collaborating.
But what’s even more powerful is building a community of SUPER FANS.
Super fans are on a completely different level to subscribers on your email list or your followers on social media. These are the people that are most likely to be the first to take you up on your offers when you release new products, the first to leave you a review, the people who will go and tell everyone they know about what you’re doing.
They will support you and cheer you on every step of the way. Super fans know for sure that you can help them and believe in what you’re about.
A membership is a space for you to cultivate and nurture your super fans. It is a place where people can truly belong to your community and get to connect with you (and your other super fans) on a much deeper level.
Members are so much more valuable than just one-time customers. Membership is a relationship and these super fans are willing to reach into their purse and pay you for the value you offer, every single month. They’re also so much more likely to become ambassadors for your brand and give you priceless word-of-mouth marketing that drives even more super fans.
That, in turn, means so much less stress when it comes to running and growing your business. It helps you make a much bigger impact and focus on working on improving and growing your business, rather than chasing dollar after dollar.
The business world is rapidly moving towards the membership model so don’t get left behind. If you have value you can offer your audience, building a membership might be the absolute best way for you to do that on a bigger, better scale.
Let me know in the comments below: have you considered building a membership for your business and if you’re stuck, what’s the number one thing holding you back?