5) Going BIG with Membership Sites
Online membership sites are a great way to get passive income. Once you have them up and running, they can become cash machines which just keep giving and giving.
When we mention membership, we’re not talking about free membership whereby members have access to a limited amount of resources without any bonuses. We want paid membership – where we offer exclusive content through a password protected site, in exchange for a membership fee.
Most membership sites offer content or SaaS which is Software as a Service. These two types of membership sites are the most popular choices.
There are a few different models for memberships as well. You have fixed term membership sites which have a start and end date, quarterly and annual membership sites, whereby membership is renewed every 3 or 12 months.
You also have one-time payment memberships which are sometimes known as lifetime memberships. And you also have monthly “forever” membership sites which would be the best option when it comes to generating reliable and sustainable passive income.
What’s great about membership sites is also because they can cover a very wide range of topics. They can be about anything – yoga, healthy eating, app development, internet marketing – really, anything. Even stamp collecting!
Naturally, some topics do sell better than others – the key to a successful membership site lies in the content and topic that you choose to address.
The fact is that as long as you can target and market to the right people, you’ll be able to get hundreds, even thousands of people to sign up on your membership site.