| Business, any business, is about making money, right? | | | | your business model today. |
| You're in business to make money - it's a great thing. | | | | What business are you in? |
| There is absolutely no reason to have a business | | | | The truth is that you don't have to have a business up |
| unless you're in business to make money. You need it | | | | and running to start a profitable membership site - but |
| to live on, to make the world a better place and yes, to | | | | you do need a market. In fact, you need a highly |
| have fun. Even if you're a non-profit organization - your | | | | targeted market that wants the information that your |
| goal is to make money and then spend it on your | | | | membership site will provide. It's a very unprofitable |
| organization's mission. Adding a membership site to | | | | idea to start a membership site without any initial target |
| your current business is a great way to increase that | | | | market or demand research. |
| bottom line and make more money. | | | | Here are a few tips to find a niche if you're just getting |
| So how do membership sites make money? | | | | started: |
| First and foremost your members will be a captive | | | | First, consider what you like to do, what you're |
| audience. Better than a lead list, your members have | | | | interested in, and what you're good at. This can be |
| proven they're interested, they've practically committed | | | | ANYTHING! If you're passionate about organic |
| themselves to being loyal customers. That means | | | | gardening then begin researching that niche. If you love |
| each and every new product or service you offer is | | | | tropical aquariums then research that niche. If you have |
| going to have a stronger conversion rate with your | | | | years of experience as a weight loss counselor then |
| members. In addition to being able to sell your product | | | | you have a niche, if you have years of experience |
| and services to a focused group of people, your | | | | helping people organize their lives, fix their cars, train |
| members, you're now able to profit off of the | | | | their birds, or choose software for their businesses, |
| subscription income. | | | | then you have a niche. Research it! |
| While many membership sites are free, some make | | | | Consider a sub-niche: |
| millions of dollars annually just off of subscriptions. | | | | With so many markets over saturated and being so |
| Subscriptions can also come in different levels. You | | | | highly competitive, it makes sense to carve of a |
| can structure your membership site to offer free | | | | sub-niche within a niche and to try to dominate that |
| memberships and allow access to a portion of your | | | | sub-niche. |
| site, silver level memberships and access to a little bit | | | | Here is a quick example of a sub niche: |
| more of the site, gold memberships, and platinum | | | | Children's Health: This is a fairly general term. A few |
| memberships that allow access to your entire site. This | | | | sub-niches of this term might be nutrition, diabetes, |
| way you're appealing to all income levels and all levels | | | | weight loss for children, meal planning for busy children, |
| of commitment. | | | | nutrition for children with special needs like allergies - |
| Plus, when you offer different levels of membership, | | | | those are sub-niches of Children's health which are |
| you can market to each segment differently. You can | | | | more targeted. I'm sure you can come up with even |
| create high end products geared specifically for the | | | | better, more targeted ones. |
| customers that you know can afford it and appreciate | | | | Sub-niches are important not only for getting to the top |
| it. And you can offer incentives to upgrade! | | | | of the search engine results but also for effectively |
| Whether you charge for membership like or if you | | | | communicating with your target market. Think about it |
| offer membership for free like YouTube, the | | | | for a minute; if you're targeting a huge group of people |
| opportunity to profit is huge. | | | | who want to feed their kids better, how do you relate |
| Multiple Streams of Income | | | | to all of them at once? Do you talk to them as parents |
| Once you have a membership site up and running you | | | | of overweight children, parents of children with illness, |
| will have the opportunity to generate multiple streams | | | | or busy single parents? |
| of income. You can sell affiliate products, make money | | | | You can't do it. You can't effectively communicate |
| from AdSense and advertising sales, and you can | | | | with a group of people who are all very different and |
| profit by selling information. Information in the form of | | | | have very different needs. By zeroing in on your niche |
| books, reports, audio recordings, video recordings, | | | | market you can speak directly to your target market |
| tutorials, workshops, seminars...the sky is the limit. You | | | | and solve the needs of that group. You can |
| can sell private label rights information. | | | | communicate effectively with them, know what offers |
| A Billion Dollar Exit Plan. | | | | to make to them, and ultimately make more sales. |
| Did you know that you can sell your membership site | | | | In the next section, we'll talk about researching your |
| for a profit? YouTube did it for 1.65 billion dollars. Yep | | | | market. For many research is the drudgery of being an |
| -billion. Do you need an extra billion? | | | | online marketer but if you look at it like a challenge, a |
| The opportunity to make money with your | | | | challenge to see just how much money you can |
| membership site is limitless. There are so many | | | | make, then market research becomes exhilarating. |
| amazing opportunities there's no reason not to add it to | | | | |