You will also want to incorporate an affiliate program into your membership website, so that both visitors and subscribers are able to generate commissions from every referred sale they make.
When structuring your affiliate program, focus on offering a very appealing commission percentage; in order to recruit active affiliates who will help you jump-start your
marketing campaigns.
Different companies pay different percentages and amounts for leads and sales. The
differences paid for a sale can range from 75% down to 1% depending on the company
and the product.
What you decide to pay your affiliates will depend entirely upon what you are selling and to whom you are selling it. A good idea would be to check what other companies selling a product comparable to yours is paying their affiliates.
However, how much you pay your Affiliates really depends on how much your
product/service costs, its profit margin, how much you're willing to give up and what action you want to take place.
When running an affiliate program, you will want to make sure that your current
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membership script or software is able to effectively track all sales and leads, as well as provide detailed information to affiliates (including overall earnings, stats, payment dates, etc).
You could also actively join affiliate programs that are focused on your niche market yourself, and incorporate your affiliate links into a “Recommended Websites” page, so that you are able to maximize earnings by promoting third party products and related
websites.
For example, if you run a membership based website focusing on golf training, you
could feature affiliate products that include golf gear, advanced lessons, physical books and even video tutorials.
This way, you can maximize your income by featuring affiliate-based tools, resources
and materials that you are not offering yourself, without having to advertise competing membership websites.
Just make sure that the products or services you are recommending are relevant to
your overall theme.
List /Email Promotions
Apart from allowing advertises to purchase email based advertisements, you could also Membership To The Bank | Page : 41
monetize your subscriber mailing list by sending out promotional emails that showcase affiliate products, as well as your own special offers.
Consider creating a special bundle that features new content, relevant to your
membership site, and making it available as an upgrade only to existing members.
When it comes to building a profitable, highly monetized membership community, you
need to remain consistently active. This doesn't mean that you need to dedicate every hour of your day building your community, in fact, you can outsource the majority of the work to experienced freelance writers and developers, but what it does mean is that you need to play an important role in defining your community.
The more you engage with your community, and the more you communicate with your
subscriber base, catering to their interests and expectations, the easier it will be to effectively grow your community, while retaining subscribers for an extended period of time.
Give your members a true feeling of community spirit by incorporating a forum, live chat, or weekly tele-conferences, and engage and interact with your subscriber base, so that they feel connected to the community. Whenever possible, always power up your
membership site with your own unique, proprietary content, rather than with private
label or saturated content. The more exclusive and original your material is, the more Membership To The Bank | Page : 42
valuable it will be to those who pay to access it.
Running a profitable membership website takes time and energy, but it can be
exceptionally rewarding if you dedicate yourself to consistently evaluating your
community and what it is interested in.
Don't be afraid to survey your members to determine what they are most interested in, and would like to see added to the membership program.
After all, it's their community!