Thursday, August 17, 2017
Richard Khor

Create Six-Figures with Membership Sites In 2015

James Schramko

This is a video that i have watched while i am preparing for my membership sites.

It tell us how to create 6-7 figures through the membership model.

The idea is to focus on one site and double or even triple your income.

What i learned from James Schramko?

  • James Schramko started earning $49.25 affiliate sales in 2006
  • Created a one time info product
  • Sold high ticket done for you marketing services – websites/monthly marketing services*
  • Quit job (Affiliate marketing + Recurring marketing services)
  • Built a community*
  • Offered Mentoring*
  • Built a paid mastermind*
  • Created services businesses* – SEO, Content
  • Promoted affiliate offers* – Recurring affiliate offers – Email Subscriptions (aweber)

*Recurring Services – Combined we get money, time and creative freedom

3 mistakes most marketers make:

  • Launch mistake using promotional launches as a business model
    • Business only do launches – Massive energy and leaving hangover
    • Surge and strain on customer support
    • Requires huge affiliate and team costs leaving a small profit
    • Now you “owe” your JV partners a launch promotion = compromise
  • Wrong packaging mistake selling too many individual one time purchase products or services
    • Requires multiple sales pages and constant updating of segmented campaigns
    • Confusion to the customer
    • diffuses your focus – switching between products and brands
  • Customer focus mistake obsessing over getting new customers
    • Fast ROI to break even
    • Requires a combination of launches, affiliates and paid traffic

Why build a recurring business?

  • Take multiple products and put into one place
  • Sell once get recurring income
  • Easier to market just a few offers
  • Less resource required to deal with the same customer over and over again than to get new ones
  • Predictable profit
  • Member contributed content can ease the workload for deliverables
  • Solution that get provided over and over

Types of membership sites

  • Community membership
  • Professional done for you services
  • Software
  • One on one mentoring
  • One to many coaching

Blog/Podcast –> Services, community, mastermind, affiliate (our own + others)

How to build a recurring business?

Services offers

  • Customer facing support desk
  • Internal project management system
  • Standard operating procedures
  • Customer service delivery reporting
  • a team to do the work

Action Tracks

  • Identify which recurring services your target audience already consume.
  • Identify the results your target audience would like to experience.
  • Create a membership offer aimed at your target audience which solves their problems
  • Drive traffic
  • Backend any existing product or service you have
  • Diagnostic audit – $20 and credit back $20 for other services
  • Authority content blog
  • Podcast – Push notification if sync to our show
  • Paid Traffic
  • Webinars
  • Affiliates/JV
  • Speaking
  • Book
  • Focus on retention
  • Weekly news updates
  • Something coming – Live mastermind each month, Yearly event, Local meetup, add courses
  • Get results for customers

Bonus Tips

  • Choose higher price points
  • Loyalty Lock-In (Lower Rate – Founders rate)
  • 60 Day free trial optional forced continuity for qualified customers
  • It is not about stuff – It is about results – Removing distraction – Keep them 🙂

Check out the guy behind this – James Schramko of SuperFastBusiness.com (A Must-Read)

Interviewed by Ajit Nawalkha – MindValley Insights – Zentrepreneur

About The Author

Richard is an Infopreneur since 2008 when he started Internet Marketing. He constantly discover new "traffic methods". He now focus on learning copywriting to increase conversion rather than getting more traffic. Today, he focus more on recurring income business model and help people to achieve financial freedom through recurring model.