You’ll need a list for this, although it doesn’t have to be a big list–just a responsive list.
Let’s say you want to launch a membership site, but you also need a big lump of cash right now to go with your ongoing monthly payments.
You make a sizable amount of money THIS WEEK, that you immediately pocket.
And you continue to have monthly payments from members coming in every month, too.
Here are two ways to do it, and after we cover these, we’ll talk about how you can set up a membership site this week.
Method #1: The average member stays in membership for 3 months. But this varies based on the product or service of the brand new membership site provides, and the price point.
The lower the price, the longer people stay.
And the more vital the product or service, the longer they stay.
For example, some software as a service memberships have members that stay for years and years.
Make a smart estimate of how long you think people will stay in your membership. If you’re unsure, then use the 3 month figure.
Calculate how much your annual membership costs if someone pays by the month. Multiply 12 times your monthly membership fee.
Let’s say your membership costs $30 a month – that’s $360 a year.
Now offer an option to new members as they’re signing up to get an entire year of membership at a steep discount. Here, you might offer it for $150.
And no, you’re not losing money. If the average member stays for 3 months, that’s $90. If you can get them to pay $150 up front, you’re ahead of the game. Some will take the upgrade, others won’t. Either you’ll get a big payment now, or a smaller payment with additional payments each month until they cancel. You win either way.
One note about an annual membership: By keeping them on as members for an entire year, you also get that entire year to sell them additional products through the membership site. Something to consider when making your calculations.
Method #2: Offer a limited time BIG package to your brand new membership site. This could be several of your products bundled together at a great price. Or it could be your BIG colossal course, offered at a major discount ($200 instead of $500, for example.)
As soon as each new member joins, you immediately send them to the offer on your thank you page.
If they don’t buy there, you continue to remind them of the offer via email for a short period – 3 to 7 days. Let them know this is for NEW members only and they won’t see it again.
You’ll get new members along with their first month’s membership, plus all the money from selling your big package.
Okay, you know how you’re going to make quick money up front and get those recurring monthly payments, too.
But what about the membership site itself? What kind of membership site can you create out of thin air in a week?
That will depend on you and your assets.
What are you superb at? What can you teach? Or what kind of service can you perform?
Do you own software that others would like access to? Or PLR products? Or…
Basically, what can you provide that others want?
It could be something as simple as a newsletter in your chosen niche. Every month (or every week or two weeks) you provide all the latest news.
Or, in every newsletter you provide another way to get a certain result, like making money online, or raising kids, or growing marijuana (this is big now) or…
What are your interests? What are you willing to research and talking to experts?
Make a list of all the possibilities that fit your list. You might even poll your list to see what they want.
Choose one thing and create your membership site around that.
See? That wasn’t too hard.