Earning Membership Revenue

At some point in your coaching business, you’ll embrace the idea of setting up a membership program. It makes perfect sense – membership programs generate subscription revenue. That means once you get a customer committed, you will get monthly income from each customer. While the initial work to build momentum will be difficult – once you have a base of income – you will have managed to make money not tied to the time you are spending.

So let’s look at what creating a membership program really means. On the outset – it means you are creating a website where people need to register and pay a monthly fee. In terms of WordPress this can be achieved with any number of membership plugins.

Once you have that capability – we’ll need to look at what you are providing to your members. This is what the “meat” of your membership program includes.

Creating Engaging Content
You’ve heard the saying – content is key. Membership programs traditionally offer member-only content that is appealing. You may want to provide training, articles, daily blog posts, updates, etc. The key will be how you structure this content. Will you be posting daily or weekly? What content will you be sharing? How will you notify people of what you are offering? This will require careful thought as it will be the core of what your membership program will be.

Providing a Community
Another component of a membership program is to provide a community. A community is a way for your members to communicate with other members. To provide this you’ll have to have a shared space where your members can communicate. This could include live chat rooms, message boards (forums) for your site, and a peer to peer communication system( instant messaging).

Creating Ways to Communicate
You will want to use your membership program as a way to communicate with your users. Ideally you will already have email communications as a mechanism. Many membership programs allow you to have several levels of communication with your users. You may have the ability to email your remembers. You may also have the ability to send notifications (messages that appear within your website) for your logged in members. You may also have an internal instant messaging service that you can use to communicate with your users.

Creating Educational Content
Another great component of a membership program is having a training component. This is normally done in the context of a training program. You can set up your online course to be available only to members on your website. There are several plugins that help you do this directly on your WordPress site.

By incorporating these 4 components, you can create a membership program that is engaging and ultimately full of value for your users. All of this capability can be implemented on a WordPress site. This means that you won’t have to use an external service to provide all of this to your customers. If implemented properly you will have successfully designed an additional revenue stream for your coaching business.