Secrets of the Member Community - Create an online business that's 6 figures or more in size

Jun 6, 2024

The community of members has witnessed members disappear and change over the last ten years. We've watched the ones that grew from nothing and grew to become seven, six or even eight-figure businesses. There are many inspirational stories of community involvement However, here's some of the biggest wins we've seen recently:

  • The entrepreneurship organization that earned $3000 in just two days Five thousand people joined.
  • An health-focused membership is currently adding 100 top-end subscribers (and an additional $340,000 in ARR).
  • An author and speaker that generated $30,000 in revenue to their customers following the completion of a four-week promotional campaign.


We love being awed at these feats however there are plenty of wonderful stories about membership and community in communities both small and large.


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In this article in this post, we'll explain the power of a membership community. This article will show you how to create a paid membership community-giving you the steps to take you from the current state to a business worth six figures.


There's no guarantee however they're tried and tested techniques that have proved to work repeatedly and again.


This is our step-by-step guide for joining a six-figure group.



     ((toc))


1. Get a razor-sharp niche


It's a bit of a cliché now, and we'll reiterate this repeatedly. The most lucrative are the regions of.


Communities that are too divided.


If you're a new host It's tempting to throw wide. Are you not looking to get the maximum number of people to reach in your region?


No!


The problem is that if there's a large group of individuals with different interest and interests It's hard to link to the entire group. Also, it's unlikely that they'll be able to connect with each other.


Your community will be mostly flat.


The distinctiveness of the market makes it thrive. Members' communities can be built on any topic from German dancers to anime. From public speaking for finance professionals to emails sent out via email to non-profts.


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The niche you choose is crucial to your growth. When you're constructing an online membership website, you can reach out across the globe seeking members from your specific niche.


Star with an overall concept of a membership organization before you start to narrow your focus more than you think you need to.


Check out our Community Name Generator

The AI engine in our platform is ready to aid with creating an identity for your community which will be like magic. All you have to do is share some brief details about the purpose your community has and we'll get started. * Enter maxlength="60" name="idealMember" placeholder="Who would you like to unite?" type="text" value=""/>

Go

Examples: coaching clients, meditation novices, vegan chefs, dog lovers, aspiring entrepreneurs, etc.

Ask for suggestions

The names developed by Mighty Co-Host(tm) are only examples and may not be licensed to any other business, or liable to rights granted by third parties. To learn more, read our Terms of Service.


2. Are a Major Purpose


If we are teaching community Design(tm) on Mighty We always begin by setting the goal for the entire class.


A Major Purpose can be the primary purpose of the community you belong to.


Traditional companies have their own mission statement. Membership communities that are successful serve a big purpose.


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We're so excited about communities that are able to fulfill a big Purpose that we have integrated it into the community engine. Each new community is prompted to choose a Big Purpose.


Try it!


     Get your Free Trial


3. Are you looking for your Perfect Member?


It's all about the area you are skilled in, however, you must start with one ideal member. This should be the individual that you are working with, and that has a specific issue or objective.


Are you curious about how that can be done to discover the perfect partner? Interview them!


After you've got a solid understanding of the things you'd like to do It's time to speak with some of the ideal people. Even if it's a bit daunting, you'll be happy you made the effort.


Answer them with questions like:


   

  • What are you struggling with?
  • What type of support would you like to search for?
  • What are you willing to put aside to accomplish what you want?


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Conducting these interviews can bring you an additional step towards creating a thriving member-based community. Because it gets the idea out of your head and into the realm of discussion.


However, make sure to be attentive to your best members.


   

  • If all parties express an desire but nobody wants to invest in it, you could be made to alter your mind.
  • If the problem that you've identified isn't the ideal scenario that your group of people are talking about, it could be necessary to shift your focus.


It's market research so make sure you do it with a serious attitude.


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4. Start small


There are membership communities that are launched for thousands of people. We have heard of stories that boast $50,000 per month membership communities. We even told you a few at the top of this post.


Do not let us go, we'd like to see you be able to get there!


Even if you are just starting out There is a beauty in making it small in the beginning.


Communities with smaller populations are more able to spend to connect. It is possible to meet everyone and make connections that are nearly impossible when you live in a city with hundreds of residents.


When you've achieved a great understanding of the needs for 10, 20, or even twenty members of the original group, you can start growing to the size of thousands.


     Remember, there's no need for millions of people in order to build an active community. Our average community on Mighty charges $48 a month. You can have the appearance of a 6-figure community that has over 173 members. That's not counting the aspects that most community members offer as upsells for particular occasions, mastermind sessions with private coaches and even classes. There's a way to make six figures from thirty or forty members if you're doing it correctly.


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5. Sell something


If this is the first time you've had the pleasure of creating an online member site or selling some thing.


Hold your breath, and remove the Band-Aid. Design a landing page online, and then invite the initial members. The event could be live or an opening event. Making an offer public or even making plans to market it will assist in the confirmation of a membership-based community.


6. Be aware of the process of screening


The health of your community depends on the high-quality of people in it. Screening is one way to ensure that you receive the top quality of individuals.


It sounds like a contradiction. Do you plan to turn those who are not attracted? Making it more difficult for them to become part of your community? Inflict more stress?


Sometimes, the "negatives" are able to be dealt by one benefit which is quite clear: the people that are part of your neighborhood actually want to be there.


It's not easy to turn down new members, screening may enhance the value of your group for members who join. This is worth it in gold.


Screening can include:


   

  • Setting up an automated check-out process.
  • A listing of criteria for members to join.
  • Live one-on-one or group discussions with members who are interested in joining.


It's sometimes concerning saying no to those who aren't a good fit for your business. Once you've established a strong community, you'll feel incredibly grateful for the benefits.


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7. Study the maths


In order to fully commit to a community membership it is necessary to be aware of the significance of specific numbers.


There is no thriving community with 100percent engagement every day.


None. Zilch.


Every community has what we call super members or "supers". These are the people who make up between 5 and 10 percent of your members that are extremely active and dedicate all of their energy into everything they are involved in.


The majority of members might be within and outside the club at times. Also, there are members who don't see anyone and who aren't paying the fee for membership.


The above numbers are quite common. Don't let that discourage you. Do not be a victim!


If your members are part of your community, they will recognize the benefit of joining. Particularly if they're paying the annual fee for membership.


The community you are in could symbolize what they've always wanted to be but they aren't able to commit 100% to it right now. This community might be the incentive they need to get started with a small amount every month.


Don't oversell yourself. Just show up and do the job and don't worry about it too much.


     Remember that groups that are designed to accommodate busy people may have less involvement. An executive-focused community might create a bump however it does not make those who are part of these communities less productive. It is safe to trust them to participate and stay involved as often as they are able.


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8. Recognize the importance of the membership fee


It's not difficult to imagine the cost of membership from your viewpoint. The cash flow is in the end.


However, you must consider the benefits of paying a membership fee your customers and members. If you're in this situation paying a fee for membership helps members commit. Members who pay are more committed. Because people who pay, are more attentive.


The data shows that paying membership fees will not hinder members' decision to pay for upsells. 75% of free members are offering upsells for paid products. However, 90% of paywalled businesses offer an upsell!


It means that the members are not only paying, but also the members paying prepared to pay more for benefits. Be aware of this when you are pricing your membership site.


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9. Don't bother with the free trial


Most online sellers offer trial periods for free. However, it's not necessary. There are only 27 percent out of the most profitable 250 that offer a free trial.


The trial trials for free aren't unworthy. They also alter the nature of a community. If there are members that drop between meetings and engaging in conversation, but aren't remaining at the same level, it could affect the unity of your community.


In most situations, it's more beneficial to complete the task prior to the start of your project in order to be sure your Ideal Member is right Conduct the screening, and be sure they are able to commit the fullest.


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10. Explore other opportunities


In the most profitable membership communities, the untapped source of revenue growth is the ones already in the front door.


Although it's typical to think, "I'm already charging them and I shouldn't have to charge them for anything different," we find that those who are active members usually want better. For example, it could be an active mastermind, a 1:1 coach or a truly amazing online or live event.


We're not suggesting that you charge more to make it easier for you to charge more.


However, do take a good look at the existing customers to ensure you're providing them with the highest value possible, even if it requires some kind of offer that's not been made!


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11. Make sure that all members are connected


We look at communities that have succeeded. One thing they all have in common.


The communities that succeed have members who have made a friend (that's not necessarily the host). Members join communities to enjoy informative content, special events and other events. However, they stay with the communities due to friendships they develop.


This is an indication that one of the main things a host can do is provide opportunities for its members to get to know one another and develop friendships. One way to accomplish this could be through asynchronous means by a call to discuss or message. It could also be synchronous: at offices, during in a live conference, or even during the planned networking groups or breakout session.


Let them out of the blockage and let them to connect.


The community you live in can benefit from this.


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12. Incorporate the help of your "supers" in order to aid


Your super-members are an effective source of information. The majority of Hosts don't use them to their greatest amount. Members who are most involved are always looking for ways to build relationships. They can also be to be involved in activities which go above and beyond what is the typical member experience:


   

  • Ask for assistance in facilitating discussions
  • They ought to be asked to manage the community and its content
  • Feature their stories or even interview them
  • Ask them to reach out and warmly welcome new members.      


Many supers don't be in agreement but we've discovered that the majority of supers are waiting to be contacted to take on more. Do not be shy about asking the assistance of your supers.


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13. Pick the appropriate platform


The biggest benefit to the members' group could be derived from the platform you select to build your community on. If you pick a community platform that lets you mix any type of content, courses, community, and live gatherings with a mighty digital marketing engine and you'll be able to create the perfect formula for creating a fantastic community-based business.


As we developed our community platform We considered everything that you need to run an active membership group.


This is a reference to:


   

  • Ability to make any type of content you'd like to publish, including articles, lengthy content such as discussions, polls and stream live .
  • Offer memberships, recordings of live events, online classes, virtual event masterminds, group coaching or bundle any of them with your home currency.
  • Use connection tools like no other, such as discussion starters, chat & messages, AI profiles and text improvements as well as extensive member directory directories and profiles. Conversations can be integrated into every stage of the process.
  • Design your personal brand for yourself, colors and spaces that you can personalize, or even change to a customized application .
  • Develop your own marketing engine with auto-landing pages custom screener questions, as well as welcoming alternatives.


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Conclusion





Are you prepared to get started? Join us to build your community on Mighty! It's G2's top-rated community platform that comes with everything you'll need to go from zero to six figures. Try it free for 14 days - no need for a credit card.

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