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How to Create a Membership Site that Generates Passive Income #2

Simple Membership SystemIn Part 1 of the “How to Create a Membership Site that Generates Passive Income”,  you’ll notice that I gave an example of a 12 week course. That was no accident.

You see, most people who think of “membership sites” think of content that’s delivered weekly or monthly… indefinitely. Members pay month after month and the owners deliver month after month.

This works fairly well if you’re running a PLR membership site or similar. But if you’re running a training site, your members are going to drift away if you just give them tips and tricks indefinitely. And they might even bail out a couple months after joining, simply because there’s no end in sight.

So here’s what you do instead…

Create a fixed-term membership site. This is a site that runs for a specific period of time, such as three months, six months, twelve months… or any length of your choosing.

Tip: For best results, create a step-by-step series as described in Part 1 of this article.

Here’s why this works…

Imagine if your site went on indefinitely. Someone might join and after a couple months quit. That’s pretty normal. But if the course only stretches out for six months, psychologically the customers will feel better if they just remain a member for the entire six months. They want to see through to the end.

This is actually a Neuro-Linguistic Programming (NLP) trick. Simply put, people don’t like unfinished business. That’s why they’ll even read books they don’t like or watch boring movies – once they’ve invested some time into the activity, they want to see it through to the end.

While just creating a fixed term site created this psychological commitment to your course, you can make the commitment even stronger by building anticipation for the upcoming lessons. That is, from the very first lesson you work on “selling” the other lessons. Like this:

Build anticipation for the whole course in lesson #1. Your first lesson should include an overview of all the lessons. But don’t just write it out like a table of contents. Instead, write it like bullet points to a sales letter.

Example: “In Lesson #3 you’ll discover a simple trick that will triple your conversion rate!” In other words, arouse curiosity whenever possible.

Build anticipation for the next lesson at the end of each lesson. At the end of each lesson you’ll want to include something like, “Stay tuned for next week’s lesson, where you’ll find out the secrets of creating cash-pulling headlines!”

Build anticipation for future lessons and bonuses periodically. Finally, from time to time you should remind members of upcoming lessons. For example, in lesson #5 you might remind members of a particularly valuable lesson or bonus that you’re offering in lesson #9. Again, write it like a sales letter bullet, where you arouse curiosity and put forth a benefit.

The biggest challenge in running a membership site is retaining members.

With a typical membership site, your members may only stick around for two or three months. But you can quickly and easily ensure that more of your members stay around for six months, twelve months or even longer by creating a fixed-term membership site!

In part 3 of this series I will be showing you the fun stuff, which is “How to set it and forget it!”

Stay tuned!

Dave

 

The Importance of Personal/Professional Development

I wrote the other day about how important it is to master the art of sales and I said I would share with you in more detail the 5 steps to successful selling that I adapted from Zig Ziglar. So let’s tackle the first step. The first to step to successful selling is the importance of Personal/Professional development. Okay, let’s get started.

A.) Personal

  1.  Phyiscal – are you keeping your end of the deal? What I mean are you practicing what you preach? I know sometimes trainers get burned out and the last thing they what to do after a session is workout, but remember your clients are watching to see if you are doing what you tell them to do.
  2. Mental – what type of books are reading? Are you staying around positive people? What type of thoughts are you thinking? It is important to feed your mind with positive thoughts and ideas.
  3. Spiritual – Up until a few years ago this is an area I let slip away but since my father’s passing a few years ago I have found my purpose in life. Remember each and everyone of us was put here for a purpose. Find your purpose and live it!  
  4. Financial – I added this point because as a trainer you will have fluctuations in your income from week to week and month to month, so it is important to understand the value in financial planning. Also, one thing for trainers to consider is what would you do if you were hurt or injured and could not train? Long Term Disability Insurance is something you should think about in case you were laid up for a long period of time do to an injury or illness.

B. Professional

  1.  Information – What sources are you getting your info from. Make sure it is a credible and reliable source if you are going to share it with clients.
  2. Experience – The hardest part initially for a trainer is gaining that experience. As you continue to grow you can use the experiences that you learned to enhance your credibility. 
  3. Knowledge – Technology and research has really changed the way we conduct personal training today. I tell all my trainers that the way we train today is totally different than we trained 10 years ago and it will be totally different 10 years from now. It is important to continue to grow and become an expert in your niche. As I tell interns and new trainers the best piece of advice I can give you is never stop learning! Invest in your knowledge on a daily basis!