Passive Income Business - Create a Membership Site to Generate Recurring Income

A passive income business is one in which you invest your time and energy in the beginning, and then you begin to reap a recurring, passive income later with less or no more additional effort from you. Creating a membership site as a passive income business is a great opportunity for you to leverage your knowledge and expertise in a certain area.

In this article we will take a look at what's involved with starting and maintaining a site that will provide you with a steadily growing residual income.

Create or source the products you will offer members

If you do not already have an information product that packages your knowledge, wisdom and expertise on your topic, take some time and create a product that only your members will have access to. You will probably also want to source some additional, supporting products that will complement what you have to offer to add value to the membership.

If you are a teacher, a coach or a mentor, live webinars or conference calls where your members can ask you questions in real time are a valuable feature.

A forum where members can communicate with one another and create sub-groups will help encourage members to create relationships and increase retention.

Post weekly or monthly videos with fresh, relevant content for your members.

Create membership site

You'll want to do some research to find the best site platform for your needs. WordPress, the popular, free blogging platform has a few membership plugins that makes creating a site both cost-effective and simple to maintain.

Choose a theme that coordinates with your topic, or have a custom theme created for you.

When you have the site up and running, invite a few members to come in and create profiles and test all of the sites features for you before you launch your site.

Attract members

Create a marketing campaign to attract members for your new site. Give charter members a special introductory price and offer them an incentive for spreading the word about your site.

Fixed term or open ended memberships

Membership sites that are set up to teach specific content might do better with a fixed term of three or six months. You create the content, the people stay for the fixed period and then they leave.

With an open ended site you will have to focus on member retention strategies, or people may just gradually drift away after the third month or so if they are not gaining a lot from what your site has to offer.

An additional way to generate income with your membership is to recommend other products to your members for which you earn an affiliate commission. You can also take on affiliates who will recruit members for your membership site in exchange for a commission.

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