The Membership Website Model

Subscription Models – “The Membership Website Model”

  Some companies sell knowledge or expertise. This subscription model supports this kind of service. You can sell a specific expertise or passion and there may be people willing to pay for that knowledge. The Membership Website Subscription Model supports publishing your know-how in a closed forum, accessible through signing up as a paying subscriber.
 
Examples of businesses using the Membership Website Model
When signing up, subscribers will get access to unique content, whether it’s courses, videos, forum discussions or articles. Examples could be companies that offer tutors/mentors with specific expertise, travel guides or different rental sites, where you gain access to a whole bunch of tips and tricks through a subscription paid on a regular basis. The most financially successful membership websites tend to help other business owners in mastering specific skills or industries. In other words, this subscription model can be used by companies that sell services for both consumers and businesses.  
Who should use this kind of subscription model?
This kind of subscription model should be considered by subscription businesses, that
  • Have a product or service that is very specific and operating within a niche market. Within this market, the customers will most likely be very enthusiastic about a specific area
  • Have ongoing insider information and be able to constantly add new perspectives to your website
  • Have related products or services to sell your subscribers
 
What to keep in mind when using this subscription model…
You need to be constantly able to expand your knowledge and add new perspectives to your product/service, making sure your membership website is constantly evolving. In doing so, it may become necessary to invest in productions of content via different channels, whether it’s video content, podcasts or written articles. By using these different channels, you can create awareness around both your product and your company, which will increase the chances of people noticing you. You can also benefit from using different search engines to optimize awareness. To successfully implement this model, you need to know something that no one else knows. This requires that you are an expert on the field – or at least collaborate with someone who is. It can become necessary to engage in a collaboration with other companies or specialists to improve your product/service, increase awareness and make money on related products. Typically, companies using this subscription model will find themselves in quite a competitive market. If you have success using this subscription model, other competing companies within the industry will probably want to know what you did. Using this model, you should also try to find ways to incorporate your subscribers through different kinds of service platforms – such as conferences, discussions, and coaching – to keep them satisfied.