Membership sites really make money still?

58 replies
Hi,

im thinking of building a list in the niche of "how to improve your memory." In my free newsletter I will offer people exercises to improve their memory etc. But my main goal here is to open a membership site that will cost $9.99 a month.

Of course the membership site have a forum where users can chat and tons of memory exercises and things like these. I figure if I can get say 50 members that's $500 a month. Rinse and repeat with 4 more niches and thats 2k per month.

Does this sound like a logical plan or is it unrealistic to expect members to even stay more than a few months? Thanks
#plan #sound #work
  • Profile picture of the author coreytucker
    maybe memory improvement isnt the best niche for this?
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  • Profile picture of the author DotComBum
    Yes it will work if you spread the course into months, that means month 1 they get lesson 1, then month 2 they get another. You can spread the course over 6 months so you can get recurring earnings for 6 months while you get more members for your site.
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  • Profile picture of the author coreytucker
    so ok, go ahead and set up the content for say 6 months in advance. Make it where they cannot quit or they feel like they are losing something right.

    But this seems very simple. Im pretty sure if I build a list of 500 double opt in's I can eventually get 50 of them to join. This seems really easy to me haha. Whats a good niche to start this in? I actually am excited to start this, I finally feel like I have a plan that will work for sure Now I just need to pick a niche
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    • Profile picture of the author jamieludlow
      Good luck with things Corey. I setup a membership myself a while ago and did pretty much nothing to get traffic to the site and did fairly well with it because word of mouth got out and people were telling their friends and it grew from there.

      I didn't have the time to manage the site so its no longer around which is a shame, but you can definitely make good money with these and they are a great way to make residual income that you know you are going to get each month as long as you provide quality content each month that your members will love.

      I just want to pick up on one of your earlier posts:

      Originally Posted by coreytucker View Post

      Im pretty sure if I build a list of 500 double opt in's I can eventually get 50 of them to join. This seems really easy to me haha.
      You can definitely get 50 signups if you put in the work, but I think 50 signups from a 500 big email list is very unrealistic. 50 signups from 500 would be a 10% conversion rate. Your sales page would have to be amazing just to get 10% conversion rate itself and even if you had a 10% conversion rate on your sales page you would then need a 100% open rate for your emails and a 100% CTR rate on your emails, which isnt going to happen.

      I don't mean to put you down just don't want you to build a 500 strong email list and be disappointed when you don't get 10% of them to signup.

      I say just pick something that you really enjoy that you feel comfortable speaking about and then do a little research in that topic to see where there is demand and then get a site created, get your 1st months content created and then get articles out, post quality content in forums with your site in your signature link and more to drive targeted traffic to the site.

      Good luck!
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  • Profile picture of the author coreytucker
    guys anyone know a good niche for building membership sites? I want to perhaps target 4 niches. Of course one niche at a time but I find im more productive if I do one section at a time with one small goal that leads to a bigger one.

    So my plan right now is to get 50 membership subscribers per niche I target. Of course I won't stop there, but that's my plan right now. I guess membership sites can be in hobby type niches too since it's a good way to connect with people like yourself.

    I figure I will plan out at least 6 months in advance per niche and release the desired content per month and allow users to discuss all of this in a forum. I want to really create little community membership sites with tons of content, something that truly helps people in the niche.
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  • Profile picture of the author coreytucker
    would something like "learning how to cook" be a good niche to build a membership site in? Or perhaps I should break it down even more.

    Maybe a niche like "how to grow pumpkins?"
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  • Profile picture of the author SeanyG
    Instead of "rinsing and repeating" with different niches, why not focus on one and kill it? Solid membership sites make Millions.

    You're thinking too small!
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    • Profile picture of the author Mohammad Afaq
      Originally Posted by SeanyG View Post

      Instead of "rinsing and repeating" with different niches, why not focus on one and kill it? Solid membership sites make Millions.

      You're thinking too small!
      I learned this from Jimmy D. Brown

      Big niche have big competition but they also have lots of buyers that you can sell to over and over again. Think about it, if you sell a weight loss product, you can sell the same group of people on different kinds of products.

      For example,

      How to lose 10 pounds
      How to tone up your tummy
      Best exercises to increase your metabolism

      etc.
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    • Profile picture of the author Hamish Jones
      Originally Posted by SeanyG View Post

      Instead of "rinsing and repeating" with different niches, why not focus on one and kill it? Solid membership sites make Millions.

      You're thinking too small!
      What he said!

      There is nothing wrong with being across a variety of niches but you need to be realistic.

      Personally, I stick to niches that i have an interest in myself as this can propel me to work further and harder. It will make it easier for you to provide great content and keep people paying money long term without getting bored and having members drop off.
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  • Profile picture of the author pube12
    YES, there is still money in membership sites if you do it correctly...
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  • Profile picture of the author theteach
    Corey,

    I'm not sure if membership sites are the way to go. I have had mine for over two years now, and to tell you the truth, I'm doing okay, not great, but okay.

    I have yet to see, after many requests, a truly successful membership site. If you google 'membership site + (niche)' you will only find people who want to sell you information on how to create a membership site or sell you membership site software.

    Here's why I think there's a problem with membership sites (at least I can say so with regards to my niche, education):

    EVERYONE IS UNDERCUTTING THEMSELVES by giving away their knowledge and skills for FREE in order to work for the google sweat shop!

    No offense, but even with your idea, 'how to improve your memory', I can find tons of free stuff out there.

    If someone can point me to a successful membership site as a model for myself, Corey, and others, that would be great.
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    • Profile picture of the author E. Brian Rose
      Originally Posted by theteach View Post

      Corey,

      I'm not sure if membership sites are the way to go. I have had mine for over two years now, and to tell you the truth, I'm doing okay, not great, but okay.

      I have yet to see, after many requests, a truly successful membership site. If you google 'membership site + (niche)' you will only find people who want to sell you information on how to create a membership site or sell you membership site software.

      Here's why I think there's a problem with membership sites (at least I can say so with regards to my niche, education):

      EVERYONE IS UNDERCUTTING THEMSELVES by giving away their knowledge and skills for FREE in order to work for the google sweat shop!

      No offense, but even with your idea, 'how to improve your memory', I can find tons of free stuff out there.

      If someone can point me to a successful membership site as a model for myself, Corey, and others, that would be great.
      How about these:

      davesgarden.com - half a million members with over 30% of them paying $5 a month or $15 a year

      onlineguitarcoaching.com - has over 3,000 paying subscribers

      photoshopzoo.com - Over 1,000 members paying $19 a month ($2.95 for the first month)

      There are countless sites that are making a killing off of a wide variety of niche membership sites. Some of the IM gurus charge upwards of $300 a month and have thousands of paying members.
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      • Profile picture of the author Vogin
        a) Yes, they should.

        b) Focus. Main principle of online marketing is picking up something and concentrating on it, so 1 site with 4000 members >>> 80 with 50.
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  • Profile picture of the author sbucciarel
    Banned
    Originally Posted by coreytucker View Post

    Does this sound like a logical plan or is it unrealistic to expect members to even stay more than a few months? Thanks
    I forgot what the question was :confused:
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  • Profile picture of the author coreytucker
    well I have heard people claiming to make thousands a month with membership sites. Im hoping these people are not lying but who knows. I have seen people say things like membership sites make me 5k a month etc.

    Realistically I think a membership site could work in many niches. I think sub niches for some reason would do well with membership sites. Im curious too though if any warriors recently have had success with membership sites?
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  • Profile picture of the author coreytucker
    Well yea I can stick to one niche. I suppose it's basically the same thing. But im curious if membership sites are still rocking or not. Come to think of it I don't see many people talking about them much like they use to.
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  • Profile picture of the author theteach
    How could most of them work when most of the information, videos, and audio can be found for free all over the internet?

    As I said before, I'm doing alright with my site but I think that it's because I do offer something that is somewhat 'scarce'. Again, if someone could point out a successful membership site, I'd be more than grateful to see it.
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  • Profile picture of the author Matt.Lake
    1. Yes, membership sites work and will do well into the future

    2. Instead of four membership sites with 50 members each, why not one membership site with 200 members?

    3. I saw a membership site in the "how to improve your memory" niche. It seemed to be doing well. It was priced at around $17 a month if I remember rightly. So ignore people saying that you won't get members because everything is available free

    4. Take into account attrition rate. Those same 50 people won't stay forever. You need to be getting new members on a constant basis.

    Good luck :-)
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    • Profile picture of the author Rich Struck
      Yes of course membership sites are the way to go. For some reason a lot of IMers don't really get it, not sure why.

      I would vote against the "drip feed" idea. Getting members and keeping them are two different things. To keep retention high, you need to give them lots and lots of content and not jerk them around. If I signed up for a site and had to wait a month to get what I paid for I wouldn't hesitate to do a chargeback. Underpromise and way overdeliver and your customers will love you. (If you made it clear that they were going to get one lesson a week or whatever then that would be okay I suppose but it would be lame.)

      Support is also very important and believe me, if you offer that at all you'll be ahead of 99% of your competition. This is another concept that many IMers just can't seem to fathom.

      I can't say if your niche is any good or not but we live in a world where people spend billions of dollars on cigarettes, bubble gum, Paris Hilton perfume, and all kinds of stupid crap so I tend to believe that you can make money doing almost anything. You only need a few hundred people out of six billion or so, you should be able to do that.
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  • Profile picture of the author coreytucker
    Thanks Rich Struck

    Just curious, do you do well with membership sites yourself if you don't mind me asking. Also is it fairly hard to get 200 members to pay $9.99 per month? Im going to get into some self improvement niche I think.
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    • Profile picture of the author Rich Struck
      Originally Posted by coreytucker View Post

      Thanks Rich Struck

      Just curious, do you do well with membership sites yourself if you don't mind me asking. Also is it fairly hard to get 200 members to pay $9.99 per month? Im going to get into some self improvement niche I think.
      I've had them in the past and I'm in the process of building a few now. And no, I've never really had trouble getting sales but it takes a while and you have to be patient. Once your site is up and running, however, you'll never look back. There is nothing like a bunch of rebills to get you through a slow month.
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  • Profile picture of the author Arun Pal Singh
    All your questions would be finally answered by your own experience. I would suggest you to go ahead with your plan and then find out how well it goes.

    Sometimes we make a sound plan but that does not reaches where we want to but your experience would surely guide you to make the necessary modifications required to work things out.

    Just make sure you target right people.
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  • Profile picture of the author tyroneshum
    The one I've started for a membership program was Mass Outsource. Obviously, it focuses on outsourcing tips and resources and I can say everything runs smoothly in place without too much capital because the ideas I'm using were all from my experience in finding the right staff and then from there, I've extended these tutorials to include them in the program.
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  • I am still not sure about membership sites. Last year I created my own membership site, which was doing OK and netting low-5 figures per month (so not too bad), but it was sucking up all my time. Running an upkeeping a membership site takes like 10 times as much effort as a stand-along product site, and in my experience the reward was not 10 times better.

    Eventually I got rid of it: it had become a full time job in itself!
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    • Profile picture of the author E. Brian Rose
      Originally Posted by Anonymous Affiliate View Post

      Running an upkeeping a membership site takes like 10 times as much effort as a stand-along product site, and in my experience the reward was not 10 times better.

      Eventually I got rid of it: it had become a full time job in itself!
      Clearly, you did not set things up the most efficient way and were not using your time properly. You should have been dripping the content to them. Basically, you set up your content in advance and set the membership software to drip it out on certain days, giving the appearance that you were constantly adding new content, but in reality it was all pre-done.
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      • Originally Posted by E. Brian Rose View Post

        Clearly, you did not set things up the most efficient way and were not using your time properly. You should have been dripping the content to them. Basically, you set up your content in advance and set the membership software to drip it out on certain days, giving the appearance that you were constantly adding new content, but in reality it was all pre-done.
        I know what drip content is about, and yes I used it. The problem was customer service: when people pay a recurrent fee they feel that they're entitled for a constant care, and the amount of questions and chit-chat coming through were like triple of any other stand-alone product.

        Moreover, getting someone to pay recurrent bills every month is WAY harder than to have someone pay it in one go. In my experienced, it was more difficult to get someone to pay $27 a month than to have him pay $97 in one go. So, in order to keep them paying month after month, you need to surprise them, create bonus content. So in my experience the drip-content model is not enough.

        And yes, my content was king and yes I was making good money off the site. But it was just not worth the humongous amount of work involved.

        PS: and let's not forget that marketing a membership site is WAY tougher than a stand alone product: people HATE recurrent billings even if they can unsubscribe at any time. It's just human nature.
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        • Profile picture of the author luckystepho
          I wouldn't necessarily worry about people losing interest in your niche for a bit as they probably won't bother to unsubscribe, they'll just stop visiting the site, and so you will still be getting the revenue.

          As an example I pay a monthly subscription for a UK online Genealogy site as I enjoy tracing my family tree. I haven't actually had the time to do it for a while, but don't want to unsuscribe as I intend to go back to it soon and still want to be able to access their information.
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          • Profile picture of the author tom03
            I am about to start a membership site and think it is a great method for making money.

            I am just trying to figure out how much content I need to get started and the different kinds of content (articles, reports, powerpoint, pdf, videos..etc) I will provide.
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  • Profile picture of the author Rikki_Fawkes
    Hi Corey,

    I, too, just started a membership site (listed in my bio) and though it's not entirely completed, I have opened it up to members and have gotten a few in the last couple of weeks.

    What I've done is written articles, submitted them to article directories, and then rewritten those same articles and posted them on the free section of my membership site. That way I'm driving traffic directly to the site (for rank) and from higher PR sites.

    One thing you'll want to watch out for, ESP.with member sites, is for people asking for advice and cloaking their questions with the intent to subscribe. I've gotten warrior IM's and questions from my site's contact page with people who act truly interested. You give them some information, enough to tantalize them and also help a little so you actually prove your expertise, then they drop off.

    I tried to help one guy back and forth with emails and he never went through with it. BIGGEST waste of time! Don't get sucked into answering tons of questions! That will kill your productivity more than almost anything else.

    Also, if you need a membership software, start with the free MemberWing. At first it was a little hinky (and still is, as it "subscribes" people with two logins, showing double the amount of members I actually have) but since it's free, it's better than nothing. I'm running everything on a Wordpress blog I installed on my own domain.
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  • Profile picture of the author Damien Roche
    I genuinely believe this is what I'm meant to do. There is something which draws me to operating a membership site, and I don't mean the recurring income.

    It's like people paying to be on your list, but to a much bigger extent. Some great suggestions above on those other membership sites.

    The way I see it - 100 people is NOTHING online. You got a decent membership for $27/month, that's already $2700 at ONLY a 100 people. I'm telling you, there is a lot of money in membership sites.

    I've worked on a few successful membership sites and I would love nothing more than to be the person behind the machine.

    Don't forget, be prepared OVER DELIVER big time!
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  • Profile picture of the author IRichie
    Your plan is good but do not forget that a lot of people will be there who will unsubscribe, so it will be a continue work to keep making new customers. If you do a lot of hardwork then you can surely make that amount. Gud luck!
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  • Profile picture of the author coreytucker
    wow some great advice here guys

    Screw it, im going to go for it. Man, im still stuck on what niche to pick. I always get stuck on which niche to pick. Once I can get that out of the way I can get started. But I could make a membership site for many things including hobbies I think. Seems like as long as people are buying products in the niche it should be profitable?
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  • Profile picture of the author coreytucker
    im really stumped on the niche. I could do the following:

    Dating
    Gardening
    Improve memory
    Improve self esteem
    getting over shyness
    becoming more social

    Are these some good niches to build membership sites around maybe?
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  • Profile picture of the author Easy_Money
    Why don't you pick the niche that you believe you have the most to offer in? The more you can offer your customers, the more successful you will be, whether financially, emotionally, or spiritually.

    If there are people successfully selling products in these markets, then there is little reason that you can't successfully run a membership site in that niche, given you structure and position yourself properly.
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  • Profile picture of the author coreytucker
    I would like to do a membership site on lucid dreaming but there's tons of free forums on it. Not only that but many of the people in these forums are kids and it seems to be a interest that comes and goes with people.

    Im not sure if it would be wise to do a lucid dreaming membership site or not with so much free information on the subject already. I guess this could be said about any niche though right?
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    • Profile picture of the author Easy_Money
      Originally Posted by coreytucker View Post

      I would like to do a membership site on lucid dreaming but there's tons of free forums on it. Not only that but many of the people in these forums are kids and it seems to be a interest that comes and goes with people.

      Im not sure if it would be wise to do a lucid dreaming membership site or not with so much free information on the subject already. I guess this could be said about any niche though right?
      Yes. This could probably be said about many niches. What you offer and how you set yourself apart from the crowd is up to you and will determine your success.

      My question would be.. What can you offer them?

      If I came across your site, I would want to know what you can offer me, that I can not easily get anywhere else. What do you have to offer me? How can you be unique enough to make me pay you? Are you offering me something of benefit? Time savings, money savings, an understanding of my dreams, how to impress my fiance with a delicious meal, how to? why to? etc.

      If you can solve this and the market has any interest in your unique position, regardless of the niche, you will be positioning yourself for much better results.

      Pick a niche and determine what you can offer. Or, determine what you can offer and fit it to a niche that needs and is willing to pay for your help.
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  • Profile picture of the author Fernando Veloso
    Membership sites? Yep, they do work.

    In fact, will re-open mine this week due to popular demand > for real!! People send me emails asking to get in cause it's closed since January.

    Personally I use the drip content feature so students can follow the coaching from A to Z, don't want people trying to start from the finish line: as usual.

    Besides, the drip feature allows me to not have to answer 20 emails per day from people trying to build "the roof" before they built "the floor".

    So, yeah, if you have the market, go for it.

    Fernando
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  • Profile picture of the author kyhell
    Membership sites are still a gold mine as long as your constantly providing your members valuable content.
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  • Profile picture of the author Fernando Veloso
    Oh forgot to add this:

    IF your script allows it, up sell members to higher memberships: from Bronze to Silver and then to Gold, etc etc.

    Works very, very well, as long as people are happy with YOU and your CONTENT.

    Don't forget you can cross sell too
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  • Profile picture of the author coreytucker
    but what are the niches I should target? Can it literally be anything that a product is being sold in?

    Is "how to lucid dream" a good enough niche? Thats a hobby, but people do spend money on it. Im just wondering if they would want to be in a membership site and pay when there are so many good free forums and all out there.

    Im not a lucid dreaming expert but I do know how to induce them sometimes. But still, there's so many free forums that teach my techniques also.
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  • Profile picture of the author Fernando Veloso
    Corey,

    As long as there is people looking for what you have to deliver, and you can reach them and say "Here, this is what you want"... you'll have a successful site.

    No reason to be other way.
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  • Profile picture of the author Easy_Money
    Nobody can pick a niche for you. We do not know what you know. We do not know what you are interested in. We do not know you...

    Furthermore, there are too many contingencies to determine whether YOU will be successful in a market.

    Either do some research, or jump in blindly and take a chance.
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  • Profile picture of the author mosed
    Memberships site still do command a considerable amount of revenues to those who know how to create a niche. This is only if you have the ability to expand your site on the created niche.
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  • Profile picture of the author coreytucker
    I can offer a few things for the lucid dreaming site. But if this niche really a good one for a membership site? I know I myself get interested in lucid dreaming, lose interest, get interested etc.

    It's a hard thing to do lucid dreaming for some people and it takes time and some dedication to make it happen. Im not sure if it's the best niche or not actually. I feel so confused....I can never pick a niche.
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  • Profile picture of the author coreytucker
    thanks guys. I guess your right, only I can decide if a niche is profitable or not. I feel like lucid dreaming is too laid back. Maybe I need something where people are working on solving a problem or something.

    Perhaps something like "how to start your own auto shop" etc. Something where the goal is big and worth investing in perhaps.
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  • Profile picture of the author coreytucker
    is lucid dreaming a good niche? I have already set up my squeeze page and got 1 subscriber but now im thinking the niche is kinda dead maybe. I did a few test that kind of indicate this. Hate to keep beating a dead horse but was wondering if anyone has any thoughts on this niche for building a list and membership site? Thanks
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  • Profile picture of the author coreytucker
    Thanks man. I was thinking I could get 50 members out of the 500 email list eventually. Perhaps I offer say 3 emails with great free info then one email promoting the membership site. This one email brings me 10 new members out of the 500. Then I do this again and repeat and get 10 more etc.

    Some people take longer to convince maybe? Anyways im really not sure I want to put my efforts into the lucid dreaming niche. I just feel like there's not much I can offer outside of the basic stuff that is already free. Not to mention I think it's a nice that people are passionate about but maybe not so to spend 10 bucks a month.

    I feel something like horse training would do better etc. I don't know.....I get a little discouraged sometimes thinking about it all. It always seems like I can never find the right niche for membership sites which is why I never ever got around to creating one a while back when I was going to.

    Im sticking with it this time, but I feel like I need a niche with a lot of products too as a backup that way my list building efforts arn't to a waste in case the membership site doesnt work out. I know something in the health niche could work but I would rather stay away from that niche.

    Im thinking something in a hobby niche would be good for a membership site. I guess I need to pick a profitable niche and put a spin on it you know?
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    • Profile picture of the author jamieludlow
      Originally Posted by coreytucker View Post

      It always seems like I can never find the right niche for membership sites which is why I never ever got around to creating one a while back when I was going to.
      You can build a membership site for ANYTHING. You can have a membership site in any niche.

      If you are a little unfamiliar with the niche all you need to do for content is use Google Alerts, Google Reader etc. to get information on the niche and then you find all the golden info from these sources and put it in your own words and use it for your membership site. Just don't copy and paste!!

      Don't feel discouraged and stop changing your mind. If you try and make some perfect you will never get it live because the web changes so fast you will just be changing your site forever! Your site and content doesnt need to be perfect, just get it online and get traffic to it and then make improvements based on your results and feedback from your customers.
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  • Profile picture of the author Memex
    no, ppl don't like to pay
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  • Profile picture of the author coreytucker
    I got to thinking guys and heres what I have come up with:

    Building a list in a popular niche is not that hard with ezinearticles and proper keyword research. I buckle down and write 10-20 articles per day and do the grunt work.

    Now I just need to create something in that niche that has not been done before. Something that truely helps these people to where 10 or 20 bucks a month is nothing.

    It's that simple yet that hard huh?
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    • Profile picture of the author jamieludlow
      Originally Posted by coreytucker View Post

      Now I just need to create something in that niche that has not been done before. Something that truely helps these people to where 10 or 20 bucks a month is nothing.
      I don't think you necessarily need to create something that hasn't been done before. Just find out what people in your niche want and provide it to them. If there is already a similar membership site out there then you can compete with them by providing higher quality content OR providing a similar membership service at a lower price.
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  • Profile picture of the author coreytucker
    thats true Jamie. Thanks for your help man. Im going to have to do some niche research first I think and see which one fits me.
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    • Profile picture of the author devonm
      [DELETED]
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      • Profile picture of the author devonm
        Originally Posted by jamieludlow View Post

        [q]If you are a little unfamiliar with the niche all you need to do for content is use Google Alerts, Google Reader etc. to get information on the niche and then you find all the golden info from these sources and put it in your own words and use it for your membership site. Just don't copy and paste!!.
        I figured to do this. never ever copy and paste, I knew that much
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        • Profile picture of the author dou9las
          I am in the process of building and launching a membership site, so I can't speak from experience just yet. My belief is that this model is very much alive and has lots of potential, like many posters have already pointed out.

          Also pointed out is the concept of dripping content out, which is what I plan to do. I will be building the site in WordPress, using WishlistMember for the membership functionality, and the Drip Plugin by Robert Plank (a Warrior) to easily handle the drip content (weekly, in my case.)

          Also, keep in mind, the content does not have to be infinite, nor does the billing cycle. Many membership site owners will say the average member will remain for x months (I hear 3 to 6 months most commonly.)

          So, if you provide 6 months worth of content, and bill bi-weekly or monthly, you essentially are providing a "payment plan" for your subscribers. Instead of buying an ebook or video course for $90, you give them a membership site with 6 months of content at $15 per month (just one example, the possibilities are limitless.)

          And, they have incentive to stay on for the 6 months, to complete all lessons. This way you have a larger chance of getting subscribers who will remain members for a period of time equal to the average subscriber duration whether the site offers open ended content and billing or not.

          And your income is still recurring every bit as much as a site that aims to bill monthly "forever".

          I am studying all of this with Lance Tamishiro and Robert Plank over at membershipcube.com . Although the program is currently closed, I recommend it and would keep my eye on it if I were you. Go sign-up to be on the waiting list.

          Regarding your questions about niches: that's kind of a whole 'nother thread...

          If you truly have valuable content to offer in the Lucid Dreaming niche then I would guess it can be profitable. But, you would need to do some basic market research to see what the major keywords are, and whether people are paying for traffic (like Adwords for starters) and whether there is commercial intent behind the searches (which you can play with here: Detecting Online Commercial Intention: Audience Intelligence: adCenter Labs )

          If you see people buying traffic AND sending it to existing paid info products, membership or not, likely there is a market for it.

          Just FYI - I happen to own a book on Lucid Dreaming that I bought about 10 years ago. Paid actual money to get info on that subject that is. Had I seen a good membership offer online back then, maybe I would have paid for that instead.

          Speaking of books (and publications in general) another great place for market research and niche identification is at Amazon.com. Go see if thereare lots of books, and maybe better, magazines, on the niches you're interested in. After all, what is a magazine exactly?

          It's an information product that is paid for on a subscription basis...kinda like a membership site.
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    • Profile picture of the author James Schramko
      keep in mind that a membership site is a responsibility that
      may take some energy. That being said, it is hugely rewarding
      financially and provides a sense of real satisfaction.
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  • Profile picture of the author andr3w84
    Originally Posted by coreytucker View Post

    Hi,

    im thinking of building a list in the niche of "how to improve your memory." In my free newsletter I will offer people exercises to improve their memory etc. But my main goal here is to open a membership site that will cost $9.99 a month.

    Of course the membership site have a forum where users can chat and tons of memory exercises and things like these. I figure if I can get say 50 members that's $500 a month. Rinse and repeat with 4 more niches and thats 2k per month.

    Does this sound like a logical plan or is it unrealistic to expect members to even stay more than a few months? Thanks
    I believe so. Membership sites are a proven business model and in fact most of the top IM guys run one or more of these as it's sure cash month after month. The idea is -as always- to identify a proven niche where ppl will actually be willing to pay a fixed premium to belong to a membership. After that, create and market your site to your niche and make them captive with exclusive groundbreaking content. After that, and as you said as well, rinse and repeat.
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  • Profile picture of the author DogScout
    Raising the monthly dues while grand-fathering previous members will make them think twice about unsubscribing as it would cost them much more to re-join. I know someone who started at $29.95 a month and raised the price every 50-100 members or so and that site now costs over $100/mo to join so no one of the 600+ members paying $67 or under dare to leave!
    Of course he is over delivering content and doing all the other things right. The income allows him to hire people to run the day to day part of the forum for him and still leave him a nice chunk of change for basically dropping in content several times a month at no preset intervals.
    His niche changes at lightning speed and he is one of the 1st with accurate information on the changes, which help immensely. If you are doing anything in that niche and have come to recognize him as the expert (which he is), leaving would not be an option anyway, but if you are paying $67 a month and to get back in would cost you $107 a month, rather than leaving and re-joining in 6 months due to a break or some other reason,you'd just keep paying through the 6 months because it would save you thousands in the long run. His retention rate is in the low single digits last I heard.
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  • Profile picture of the author MassiveMarketer
    Membership sites are still good! It's still good in the market just as long as you keep it up to date and interesting for your members. Sometimes when you get out of date, members tend to look for other place even if they paid $9.99. Aim for more members before moving on the next one but it might be better to focus on one then keep it going. You may be making more than you expect.
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