This form of marketing (or model if you will) can be extremely lucrative you know? Have you given this any thought for your own business and marketing funnel?
Almost any type of business could potentially add some kind of membership model to their business – both retail or store front, online businesses or almost any service professional and probably many product based companies too.
Some examples of membership programs that many of you might already be a member of and not even realize it (or see it as an opportunity for you) are:
- Netflix – movie rentals in the mail
- Wine club
- Online service such as ConstantContact.com, SubmitYOURArticle.com or Webstat.com - I use these services (among many)
- Door to door dry cleaning service
- Product refill orders such as for Juice Plus or beauty products
- Your website hosting services
- Memberships in networking or professional organizations
- Some advertising you might do like yellow pages for example
Each of these companies or services are charging your credit card (most likely) each month based on your signup and agreement to receive their offer/products/services on a monthly basis for an agreed upon fee. They will continue to charge your card unless you cancel which you have to either do in writing or online most often but continuation or cancellation is up to you.
They don’t have to keep selling you each month; it’s recurring income for them – hence constant cash flow!
You can do this too most likely with a little creativity – you just need to brainstorm on:
- WHAT this would look like in YOUR business.
- Who it would be attractive to (who’d want to buy it/sign up for it).
- What you would offer (that wouldn’t take up a lot of your time and be cost effective)
- How to best set it up so you can automate this as much as possible.
- How much to charge.
- How to structure and market it to your list
Other examples of this include memberships such as:
http://www.mentorsignup.com/ – but basically it includes one teleclass each month that you can listen in on, get the CD by mail, access to personal 1on1 time with me once a month over the phone for laser coaching, my backend online Mentor Resources page which houses all my past teleclass recordings, articles, samples, templates and tons of resources just for my Mentor Members – ALL FOR ONLY $47/MO (best deal with my personal coaching of all these 3)!
Yes, these examples are all for coaching and consulting services primarily (see how easy it could be though?), however there are many business owners I’ve consulted with that had ‘regular type businesses’ who we were able to come up with a cool membership idea for as well to give them extra cash flow such as:
- Day spas and Medspas
- Home furnishings and decor stores
- Gift basket companies
- Network Marketing companies
- Fitness Trainers and Gyms
- Bookkeepers
- Photographers
- Virtual Assistants
- Chiropractors
- Personal Makeup Artists
It’s really just all about leverage – leveraging your time, expertise and packaging it in such a way that it benefits your customers AND it helps to provide YOU the type of lifestyle you want to lead.
Put your thinking cap on or
contact me and let’s brainstorm on some cash flow generating ideas for YOUR business ASAP!!
–Kat Out.
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