Membership Website Tip #1: Focus Your Membership Website Product Idea.
Your membership website should be targeted to a specific group of readers who share very specific information needs, and are willing to pay a premium price for that information.
Membership Website Tip #2: Profile the Information Needs of Your Target Customer.
Your goal is to locate a target market focused on people who:
* Have established an interest in what you’ll be writing about,
* Are proven membership website users and subscribers,
* Are part of either a growing or very stable audience,
* Are not adequately served by existing membership websites.
Membership Website Tip #3: Prepare an In-Depth Competitive Market Analysis.
Search for competitive sites, request sample copies or purchase competitive publications, request media kits (which often contain a wealth of information about the market) and understand advertising and subscription pricing policies for your competition.
Membership Website Tip #4: Select Your Membership Website’s Competitive Position.
Use a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis to evaluate your closest competition. How will you be different and how sustainable is that difference?
Membership Website Tip #5: Quantify the Economics of Your Membership Website.
Make assumptions…how many free members, how many paid members? How much for an annual subscription, what about other revenue sources, how much does it cost to obtain a new member, how long will you keep members?
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