Member Community Secrets - Create an online business which is six figures in size

Jun 6, 2024

We've watched membership communities change and vanish over the last decade. We've seen those that began with nothing, but then became seven, six and even 8-figure enterprises. There are many inspirational instances of community membership, but here are some of the best successes we've observed lately:

  • The organization for entrepreneurship that earned $35,000 in two and a half weeks and had five thousand members.
  • Health-focused membership which has just added 100 top-end members (and the ARR is $40,000).
  • A speaker and author, who brought in $30,000 for their customers following the end of a four-week promotion.


And while we love celebrating these victories There are plenty of amazing stories of membership and community from communities in all shapes and sizes.


 - Graphics - Courses and live streaming - Galaxy DAO


In this post in this blog, we'll go over the benefits of joining a community. We'll teach you how to establish an online community with paid members. We'll also supply you with an outline of the steps to take you from wherever you are to an enterprise that is worth six figures.


There's no guarantee, but these tested and proven methods have proven to be effective repeatedly and consistently.


This is our guide to how for a six-figure membership community.



     ((toc))


1. Get a razor-sharp niche


This is a bit of a cliché at this moment however we'll repeat this over. Opportunities that are most profitable can be found in specific areas.


Communities that are too big-scaled in their struggle.


As a host who is a novice you may feel compelled to cast a wide net. Don't you want the most people possible from your neighborhood?


No!


In a society full of non-related people it's impossible to engage everyone. Also, it's highly unlikely that they'll interact with one another.


Your community's all around you.


The niche lets it flourish. Membership communities can be constructed on anything that is from German ballet to anime. from public speech designed for finance professionals to newsletters sent out by email for nonprofts.


MN - Graphics - 2024 - AchievementAcademy-Join


Your specialty is your greatest strength. When you're building an online community of members, it is possible to reach out across the globe for people within your field of expertise.


Start with an overall concept of creating a community that is open to members prior to focusing on a particular niche in the way you think that you should.


Make use of our Community Name Generator

The AI engine we have is here to assist you in creating an image for your community that is like magic. Just write a couple of sentences on who your community stands to serve and we'll begin working. * Enter maxlength="60" name="idealMember" placeholder="Who do you wish to connect?" type="text" value=""/>

Go

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

Get ideas from others.

The names that Mighty Co-Host(tm) are only illustrations and are able to be used by different businesses, or be subject to third-party rights. For more information, check our Terms.


2. They are used for a wide range of purposes.


We offer classes on the Community Design(tm) on Mighty It is always a good idea to start with a purpose.


An Large Goal can be the primary reason the membership group is in place.


A traditional business has an mission statement. The membership community that is successful can be a perfect fit with an even bigger purpose.


MN - Graphics - 2024 - your-big-purpose


We're so enthused about helping communities develop an enormous Purpose that we integrated this in the community engine. Each community that joins us is asked to choose a Big Purpose.


Test it!


     Take Your Free Trial


3. Find the perfect family member


It's all about specialization, but begin with the Ideal participant. It should be the individual you work with, who has one narrowly-defined problem or goal.


Are you interested in knowing how that you can perform to identify the ideal participant? Interview the person!


If you've got an concept of what you'd like accomplish, make it a top priority to talk with the ideal people. If it's intimidating, you'll be glad that you did it.


Ask them questions such as:


   

  • How do you deal with it?
  • What kind of support are you looking for?
  • What price are you willing to spend for the desired outcomes?


MN - Graphics - 2024 - Livewell-Full


Interacting with them is a step towards creating a flourishing members' group. It helps get the concept from your mind and into the conversation.


But, you must pay attention to your preferred members.


   

  • If the whole world is curious however, no one wants to pay for it, you could be forced to change your opinion.
  • If the issue you've identified is not the issue that you would like your group to talk about, you may need to pivot.


It's market research, so the rules should be followed.


MN - Graphics - 2024 - BS-Full


4. Begin with the basics


Membership communities have many members that join. There are stories about the monthly membership of $50,000 in this community. There are also a couple in the middle of this post.


We're not going to get the wrong way, but we do hope that you be successful!


Even if you're only getting started, there's the beauty of starting with a in a smaller size.


Communities with smaller populations have a much easier time getting connected. They can make friends with everyone, something that is almost impossible if you live in a city with many thousands of residents.


After you've developed a solid grasp of the demands of 10, 20, or even 20 people in the first group, you can scale to hundreds of.


     But remember, there is no need for hundreds of people to make an active community. Our typical community on Mighty is $48 monthly. You can have a six-figure membership community with the number of members at 173. And that's not including the things that many communities offer as upsells like Events such as private coaching, masterminds as well as classes. It's possible to make 6 figures if you have over 30 members. If you're doing it correctly.


MN - Graphics - 2024 - OE-Full


5. Make money selling something


If this is the first time making your own website for membership  offer something to sell.


Keep your cool, and then get rid of the band-aid. Create your own landing page and invite your very first participants. Maybe it's a live course or an event with the doors. Making an offer public and even preparing it to sell will verify your notion of creating a member-based community.


6. Think about screen


The overall health of your depends on the overall health of people in it. Screening will ensure you receive the highest quality members.


It's a little odd. Are you planning to close people who do not want to join? It will be more difficult for new members to join your community? Inflict more stress?


In certain situations, some instances, the "negatives" can be offset with the one positive that is quite obvious: those within your locality are actually eager to join in.


It's hard to reject prospective members, screening could enhance the appeal of your community for those who join. And that's worth its weight in gold.


Screening can mean:


   

  • Automating a questionnaire on your checkout process.
  • The process of preparing a list of the criteria for members to join.
  • Hosting live one-on-one or group interview with prospective members.


That could include saying no to people who do not for the job. When you've built a strong community you'll thank yourself for joining.


MN - Graphics - 2024 - Livewell-Profile


7. Understand the numbers


If you want to fully participate in an organization that is a member, you need to understand the significance of certain figures.


There's no community that has 100percent engagement throughout the time.


None. Zilch.


Each community is home to what we call super members and "supers". They are those that comprise about 5-10% of your members who are very involved and commit all their efforts to all they're involved with.


50% of the members could pop in and out often. There are those who aren't seen at regardless of the price.


The numbers above are fairly normal. Do not let this discourage you. Don't be a victim!


If members have signed up for your membership community and are enjoying the advantages. In particular, if they're paying the monthly membership cost.


Your community could be an idea you've heard about, even though they're not completely determined to implement it today. The group you belong to could give them an incentive to make small progress every month.


Don't let yourself to anyone. Show up, and complete the job you are supposed to do Don't get caught up in all the little details.


     Be aware that groups specifically designed for busy individuals may show low involvement. In the CEO community, you may experience a titch, but it doesn't make the people in these groups less efficient. You can trust them to be there and participate whenever they're in a position to.


MN - Graphics - 2024 - ModernCreator-Join


8. Be aware of the value of the cost


It's not difficult to see the cost of membership from your standpoint. This is your money flow towards the end of the day.


It is important to contemplate the benefits of a membership fee for members, too. A membership fee helps people to commit. Paying members are more dedicated. As they take note of the things they are doing.


These numbers reveal that membership fees don't hinder people's desire to purchase upsells. 75% of the free websites are selling upsells on paid goods. However, 90 percent of paywalled sites offer upsells!


It is a sign that it is not only the paying members who pay, but also members who are paying are also paying for advantages. Be aware of this when pricing your membership website.


MN - Graphics - 2024 - Livewell-SingleEvent


9. Don't bother with the free trial


Sellers of goods online generally offer trial trials for free. But it's not always necessary. Only 27 percent from our 250 top companies that produce revenue. They also have a trial offer.


Trials are not a bad thing. However, they can alter the dynamic of communities. If you have members who are constantly in and out of the room or engage in conversations but do not remain, it can impact the cohesion of your group.


In a lot of instances, you should finish the work before the date of making sure that the ideal person is in place Conduct the check and ensure that all participants are able to arrive on time for a full experience.


MN - Graphics - 2024 - Livewell-Feed-DarkMode


10. Create many more chances


The most effective community memberships are the most effective source of income is those who are already in the door.


It's normal to think, "I'm already charging them and shouldn't charge to perform something else," we find that those who are active want greater. For instance, it could be an active mastermind group as well as 1:1 coaching, or an amazing live or online live events.


We're not saying that it's wrong to charge higher prices in order so that it is easier for you to charge more.


However, do take a good take a look at your current customers and ensure that you're giving them the best potential value that you are able to offer, even if that requires the introduction of a new offering!


MN - Graphics - 2024 - Livewell-Discovery


11. Verify that you have connected members


We research successful communities. They all have something they have in the same.


The communities that have been successful include members who have turned into friends (that's not necessarily the host). The members of the community join to learn about informative content, events and special occasions, yet remain within the group due to their relationships.


It is a sign that one of the primary roles a host has is provide opportunities that allow your members to meet and make friends. This could be through asynchronous means via a call to discussion or a blog post. Also, it could be partially synchronous such as at time of office hours, during the event is live and even in planned break-out groups or networking sessions.


Take them off the blocking and allow them to join.


It will make your community grow stronger because of it.


MN - Graphics - 2024 - SplashScreens


12. Enlist you "supers" to help you.


Super members are a valuable resource. The majority of Hosts don't use the full capacity of their super members. People who are engaged want to be more connected. You can also get them to be more involved in ways other than your normal membership:


   

  • It is possible to ask them to facilitate discussions
  • The members should be asked to be the moderator of the group as as its contents
  • Tell their tales or ask them questions
  • Encourage them to reach out to greet new members      


Certain supers might not agree, however we have found that a lot of supers wait to hear from you. Do not be afraid to seek for the assistance of your supers.


2024 - Graphics - Video Course


13. Choose the most suitable platform


Finally, the biggest boost in your membership group could be due to the platform you select to build your community. Choose a platform which allows you to mix all kinds of content classes or gatherings that are community-based along with a powerful online business platform, you'll have the ingredients for a successful community-based business.


When we built our community platform that we designed, we thought about everything you could need to have a vibrant membership group.


This signifies:


   

  • It is possible to create any kind of content you like include articles, longer material such as discussion, polls and streaming live .
  • Sell memberships, live or pre-recorded online classes, virtual events, masterminds, group coaching or bundle them all using your own currency.
  • Unlock connection tools unlike any other Chat tools, discussions & messaging, AI profiles, text enhancements and high-quality member directories and profiles. Conversations are seamlessly integrated into each stage of your.
  • Design your own identity for your brand by choosing colors, space, or spaces that you can personalize, and even make changes to your custom software .
  • Make your own custom selling engine using auto-landing pages with custom screening questions and other welcome options.


MN - Graphics - 2024 - OE-Discovery


Conclusion





Are you prepared to get started? Join us and build your community on Mighty! It's the top-rated platform for community engagement by G2 and includes everything you'll need for a successful transition from 0 to six figures. Try it free for 14 days-no need for a credit card.

This post was posted on here