Replacing Your Monthly Income With A Membership Website
If messing around with fun viral content isn’t your kind of thing or seems like a lot of work then maybe you should consider replacing your monthly wage - and more - with a subscription based membership website.
If you have been working through the video tutorials in the Viral Code - I hope you have - then you will know how easy it is to build a website using WordPress. WordPress is wonderful and one of the best things about it is that you can turn it into a membership website very easily with specific plugins.
Plugins like S2 Member (which is what I use with the Viral Code and have used on other websites), Membermouse and MemberPress can lock your content behind a paid wall meaning that people who want to access your material need to subscribe to your membership.
Effectively turning your website into a club… one that generates money via subscription fees every month as long as people keeping paying to be a member.
There are thousands of membership businesses online. Some are courses where you learn a new skill like how to master WordPress and others can be simple online clubs where people pay to access new information or products from topics like gardening to music.
Sex is one of the biggest niches with millions of people paying ridiculous amounts of money to access videos and live feeds of men and women they ‘fancy’ but sex definitely isn’t the only thing that can be sold through a monthly membership website.
The reason I mention the adult industry is that for a fairly large monthly fee people get access to what can only be described as a little amount of work. When someone likes a person ‘a lot’ they generally will pay a lot to get access to them and their products even if that happens to be nothing more than a few new short videos and a few photos.
Many successful membership businesses generate a good monthly income without having to add a huge amount of new content. It is not always about how much you deliver but how good the information or content is.
Obviously people like value for money but that also depends on what you offer and how much a person wants more of it. Companies like NetFlix and Spotify are essentially membership businesses. They offer a service where they deliver entertainment in the way of films and music for a small monthly fee.
They are a very small fee compared to what some people pay for sex based content but it is a very different market.
First rule of marketing and business… give people what they want… what they REALLY want and they will pay you a small fortune for it… but that is a different story for another day.
Money is made from membership businesses by offering content which is made once to many paying people.
For example: a builder can be paid £500 to build a wall, but if he needed £1,000 he would need to build 2 walls for 2 different customers. If he needed £1,500 then he would have to build a third wall and so on and so forth.
His money is dependant on the work he does.
With a membership website you create a piece of content once which could be an article, an ebook, a video, a podcast or a live stream and you deliver that to 250 people all paying £5.99. At £5.99 250 paying members would earn you £1,500 a month.
Now imagine that you have 2,000 paying members paying each month for content. In a world with billions of users online getting several thousand people to pay access to a membership website is very doable.
You could charge anything you want depending on what content you offer obviously. It has to be worth it to the member. If it does not hold the value then they will stop paying but everything is relative, someone may not think that your product is worth £39,99 a month but others will.
You only need a small amount of people paying £39,99 to make a nice monthly income. And as I said earlier, when you look at the adult industry people will pay a lot for very little.
If you can find a crowd of people who are willing to pay you £39.99 a month for content then you need less people to make a decent wedge of money and having a small number of people can often be better for you because it is less strain on your website.
To generate £2,000 a month you would only need 50 paying members every month paying £39.99 each.
Hosting costs can increase when you have a lot of people using your site. With thousands of people accessing your content or streaming a lot of videos or music you will soon use up your bandwidth and disk space allowances and that will mean having to upgrade and pay for a larger hosting account.
Imagine the costs that Spotify and NetFlix have to deal with with storing music and videos files which are streamed daily by thousands if not millions of users for a relatively small fee.
Now compare that to Stuart Walker who has a membership which has only written content about making money online. He charges $69.99 to new members and it is said that he regularly has between 500 - 700 monthly users.
$69.99 at the moment is roughly £52. You do the math!
Keeping your numbers small and delivering content which is written or information based can mean less running costs which is good for you.
Mark Dawson who is the very successful self published author of the John Milton series of books runs several courses/memberships teaching all aspects of becoming a self published author.
He does live webinars, creates podcasts and has members areas which house videos and written content. His courses are set out before they go live and most if not all of the videos are pre-recorded so when it comes to launch day there are no more videos to add to the course unless there has been any big changes or updates within the industry which he needs to address.
His courses are either paid in full or in part over a period of time like 1 year until it is all paid off. They are not a membership in the same way as NetFlix which is where you keep paying until you cancel.
You do not lose access to Mark Dawson’s content when you have paid the balance in full. You can access it at anytime after unlike NetFlix, if you stopped paying today for NetFlix your access to their media would end at the end of the month.
If you created a course using video then you could host them on your own hosting account but that will really affect your bandwidth and could cost you a lot but there are alternatives.
Amazon have a cloud storage solution called AWS Amazon S3 where you upload your videos to their servers and then embed the code on your website so anyone visiting your site can watch the videos even if they are actually streaming from elsewhere. This will save you using up your monthly bandwidth quota and your disc space.
You can do this also with YouTube - as long as your material is not of an adult nature of course. I have done this a few times. Upload videos to YouTube to take advantage of their free storage and bandwidth, set them to ‘unlisted’ then add them to your members area.
You could argue that people will find the YouTube URL of each video and then cancel their subscription and learn everything for free.
They could in theory but most people who are looking to learn something new would rather be able to access everything from one easy to use place. Plus if you also offer on going written material as part of your course/membership material they would lose access to that and they won’t want that.
If you are looking for a monthly income to replace the wage from your day job or just a second income then I suggest that you really consider looking into running an online membership website.
They really are not that hard to build or run. I am not saying that figuring out what niche to base your membership around is going to be easy but it doesn’t have to be hard. As I said earlier, some people will pay silly money to get access to 4 or 5 new short videos.
Anything and everything has a value to someone.
The hardest part as always will be to market your membership website and get people to join but for a few hundred pounds you can have your website up live for a couple of years.
Spending time sharing free content on social media, building up a tribe of followers and maybe running a few adverts could soon have you running a profitable membership business.
And as I have discussed in previous newsletters, when you have a website generating a monthly income which has potential to grow you could always sell it for a bigger profit just as a property investor develops a property and then sells it on for a profit.
Until next time.