Membership Platforms: The Holy Grail Of Online Business?

Tim Rettig
Aug 3, 2018 · 5 min read
  • Once you establish it, you can potentially keep it running forever
  • You know quite well how much time investment side the business requires from your side
  • You don’t need to ‘convince’ buyers to buy more of your products — they automatically renew the subscription (unless they consciously drop out)
  • Even if a user is relatively inactive, you nonetheless keep earning money

A truly outstanding product.

Unless you have a truly outstanding product, such a membership site will probably not work. Who would be willing to pay you $200 per month, if you are not (by far) the best solution in the market?


A real community feeling.

“I came for the content , but I stayed for the community”.

The value which the product itself provides might eventually run out as customers have gotten everything possible out of it, but the value of the community around it could be infinite.

The community itself will…

… create more content.

… support each other.

… respond to each other’s questions.

In other words, the community around your product becomes an extension of the product itself. While you have only limited time to do certain things, the community is a collection of people who will solve each other’s problems.


An ongoing value proposition.

The biggest challenge of all membership platforms is the drop out rate. People sign up, consume all the existing content quickly, and then leave. As a result, they might only pay for one single month.


Patience.

In the beginning, you might only have a handful of members. You might be creating stuff every single day for your community, but there are only a few people who are actually there.


Conclusion:

Running a membership platform can be a great business model. Once you have gotten enough ongoing members while also keeping the drop out rate low, you have a reliable source of revenue every single month.


Call to action:

I’ve put together a free step-by-step guide on how to build a profitable business around your blog. You can get the guide by clicking here.


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Tim Rettig

Written by

Author of Struggling Forward: Embrace the Struggle. Achieve Your Dreams https://amzn.to/2JKYFso / Subscribe: http://bit.ly/2DCejTX / Email: rettigtim@gmail.com

The Startup

Medium's largest active publication, followed by +687K people. Follow to join our community.

Tim Rettig

Written by

Author of Struggling Forward: Embrace the Struggle. Achieve Your Dreams https://amzn.to/2JKYFso / Subscribe: http://bit.ly/2DCejTX / Email: rettigtim@gmail.com

The Startup

Medium's largest active publication, followed by +687K people. Follow to join our community.

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