Do you have expertise in a particular niche and want to start generating recurring revenue in your business fast? If so, the Micro Membership Model might be the perfect fit for you.
What is the Micro Membership Model?
The Micro Membership Model is a new model pioneered by CustomerHub that makes it possible for subject matter experts to launch an online membership program that generates recurring revenue in 24 hours or less with zero upfront investment. The immediate goals of the model are to validate demand for the offering, capture feedback, and build confidence in order to justify additional investment.
The core content of the Micro Membership Model is a private member feed, which is a dedicated space for sharing short, targeted videos (2-3 per week) with tips, tricks, or strategies to help your members in a specific niche. This content should be designed to provide ongoing value and build a sense of community among members. Importantly, because the private member feed is designed to deliver initial and ongoing value, the need to create membership content before launching is entirely negated.
Other key principles of the model include:
- Low Price Point: To make the membership accessible and attractive to potential members, it's recommended to start with a low price point, typically ranging from $5 to $20 per month. This makes it easy for people to buy into the membership and start receiving the valuable content and benefits.
- Promote to Your Existing List: To validate demand for the membership and generate initial interest, it's recommended to sell the membership to your existing email list or audience. This can help you gauge interest and refine your content and messaging based on feedback from early adopters.
- Simplicity / Low Overhead: To maximize profitability and minimize overhead, it's important to keep systems and processes simple and easy to manage. We recommend CustomerHub for managing and delivering the membership site and Stripe for billing (CustomerHub's out-of-the-box Stripe connector will keep the two systems in sync).
For a brief overview of how to set up and launch the Micro Membership Model, please watch this video.
So, why is the Micro Membership Model so effective? Here are a few key benefits:
- Recurring Revenue: By offering ongoing subscriptions, you can generate a stable and predictable recurring revenue stream that can create cash flow, revenue growth, and ultimately more freedom in your business.
- Customer Loyalty and Retention: membership sites foster a sense of community and belonging among members, leading to increased customer loyalty and retention. Members are more likely to stay engaged and committed to a business that offers exclusive content, services, or experiences.
- Personalization and Customization: Membership sites allow you to offer personalized and customized experiences to your members. By tailoring content, services, or benefits to meet the specific needs and preferences of members, you can create a more engaging and valuable experience that keeps members coming back for more.
- Flexibility and Scalability: Membership sites are highly flexible and scalable, allowing you to easily adjust or modify your offerings as needed to meet changing customer needs or business goals.
- Enhanced Customer Data and Insights: Membership sites provide you with valuable customer data and insights that can inform marketing strategies, product development, and business decisions.
In conclusion, the Micro Membership Model offers a simple and effective way for businesses to generate recurring revenue while providing targeted and valuable content to a specific niche or community. By following the key principles outlined above, businesses can quickly and easily launch a membership site and start generating revenue while building customer loyalty and community.
If you're interested in exploring this model further, CustomerHub offers a Micro Membership Workshop designed to take businesses through the step-by-step process of getting started and succeeding with their micro membership site.