Member Community Secrets - Build an e-commerce business that is 6-figures in size

Jun 4, 2024

Membership communities have move and fade in the last decade. We've seen the ones which started out as nothing and grew to become six, seven and even eight-figure companies. There are so many inspiring instances of community membership, however, here are a few of the best recent wins:


  • The entrepreneurship organization that generated $30,000 over 2 1/2 weeks with 5000 members.        
  • A health-focused membership that has recently added 100 high-ticket members (and $40,000 in ARR).      
  • Author and speaker who added $30,000 in revenue for their community of members following the completion of a four-week promotion.        


We love to be awed by these achievements There are plenty of amazing stories of membership communities from communities large and small.


 - Graphics - Courses and live streaming - Galaxy DAO


In this post in this post, we'll explain the power of a membership community. This post will show you how to create a community of paid members, and provide you with the steps to take you from where you are now to a six-figure business.


There's no guarantee, but these are the tried and proven methods which we've witnessed work time and again.


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



((toc))


1. Get a razor-sharp niche


This is a bit of a cliché in this moment and we'll reiterate this over and over. The most lucrative opportunities are found in specific niches.


Communities that are too wide-ranging.


If you're a new host you may be tempted to cast a wide net. Wouldn't you like to have as many people as possible in your community?


No!


Problem is that when there is a large group of people with unrelated interests, you can't possibly engage them all. And it's unlikely they will be able to communicate with each other.


Your community is on its face.


It is the niche that allows it to thrive. Communities of members can be built on everything from German polka dancing to anime. From public speaking for finance professionals to email newsletters for nonprofts.


MN - Graphics - 2024 - AchievementAcademy-Join


The niche is your superpower. When you're building an online membership site it is possible to reach out across the globe in search of members of your particular niche.


Star with the broad notion of a membership community and then focus on a specific niche more than you believe you have to.


Try Our Community Name Generator

The AI engine of our platform is ready to help you create an identity for your community that is like magic. Just share a few words about who your community is for and we'll get to work.            Input maxlength="60" name="idealMember" placeholder="Who do you wish to bring together?" type="text" value=""/>

Go

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

Get Ideas

The names that Mighty Co-Host(tm) are examples only and are not licensed to other businesses or subject to third-party rights. For more information, check our Terms.


2. Have a Big Purpose


In the classes we offer the concept of Community Design(tm) on Mighty We always begin with having students create a Big Purpose.


A Big purpose serves as the reason your membership community is there.


The traditional company has an mission statement. The membership groups that succeed have a Big Purpose.


MN - Graphics - 2024 - your-big-purpose


We're so enthusiastic in helping communities develop with a Big Purpose and we have built the community engine. Each new community is prompted to choose a Big Purpose.


Test it!


 Start Your Free Trial


3. Have an Ideal Member


It is a matter of area of expertise, but you should start by identifying one Ideal member. This should be the individual you work with, who has just one specific goal or issue.


Do you want to learn about how that you can perform to identify the perfect member? Ask them to be interviewed!


If you've got an idea of your niche It's time to talk with potential members. Even if it's a bit intimidating, you'll be glad that you took the time.


Ask them questions like:


 

  • What do you struggle with?        
  • What kind of support do you want to look for?        
  • What are you willing to spend to achieve the desired results?        


MN - Graphics - 2024 - Livewell-Full


Conducting these interviews can bring you one step closer to building a successful member-based group. It helps get the concept from your mind and into the realm of conversation.


Make sure you pay attention to the ideal members.


 

  • If everyone expresses an interest however, no one is willing to purchase it, you could have to consider pivoting.        
  • If the problem you identified is different from those your preferred members discuss, then you may need to reorient your thinking.        


It's market research, therefore, you must consider it as a serious matter.


MN - Graphics - 2024 - BS-Full


4. Start small


There are membership societies that are launched to thousands of members. We have heard of members who pay $50,000 per month. We've even shared some at the beginning of this piece.


And don't get us wrong, we'd love to help you get there!


But even if you have just started out, there is beauty in starting small.


The smaller communities are more able to spend to connect. It is possible to get acquainted with everyone, something that is nearly impossible in a community of hundreds of members.


And once you have become proficient in meeting the needs of those 10-15 people who are in the initial group, you can start scaling to hundreds of thousands.


    But remember, you don't necessarily need thousands of people to have a thriving community. The average community on Mighty is $48 monthly. There's a possibility of a six-figure membership community with the number of members at 174. And that's not including the things most of our communities sell as upsells like Events, private coaching, masterminds, and courses. It's possible to get to six figures with more than 30 members, if you do it right.


MN - Graphics - 2024 - OE-Full


5. Offer something for sale


If this is your first time creating a membership site  or selling some thing.


Simply breathe and take off the Band-Aid. You can create your own landing page and invite your very first participants. It could be a live-course or an opening event. Promoting an offer, even pre-selling it, will help you confirm your idea of a membership-based community.


6. Consider screening


The wellbeing of your community depends on the quality of its members. The screening process is a method to ensure you have the best people.


This is a bit odd. Do you want to shut off people? It will be more difficult for new members to be a part of your group? Add more friction?


In some instances some cases, these "negatives" are offset by one very strong positive that is the fact that people in your community actually want to be there.


While it's hard to say no to prospective members, screening could boost the value of your community for those who are accepted. This is worth it in gold.


Screening can include:


 

  • Setting up an automated survey for your checkout procedure.        
  • Making a listing of criteria for members who want to join.        
  • hosting live one-onone or group interview with prospective members.        


It might even mean refusing to accept people who don't person for your company. Once you've got a flourishing community-you'll be glad you did.


MN - Graphics - 2024 - Livewell-Profile


7. Understand the numbers


In order to go fully-into a membership group it is necessary to know some crucial numbers.


There's no vibrant community with complete engagement all the all the time.


None. Zilch.


Every community has the people we refer to as super members, or "supers". These will be those who comprise 5-10% of people who are extremely involved and give all of their energy into everything they are involved in.


50percent of the members could be in and out of the club occasionally. There are members you never see it all who pay the membership price.


These numbers are pretty typical. Don't let it deter you. Also, don't let it affect you in any way!


If people have signed up for your membership community, they can recognize the benefit. Particularly if they pay a membership fee every month.


Your group could represent an idea they've had, even if they can't be 100% committed to it at the moment. Your community might be an encouragement to make small progress each month.


Don't let yourself as a short-sighted person. Simply show up and complete your job, but don't stress about it over too much.


    Be aware that groups with busy members may experience the lowest engagement. A community of CEOs might cause a titch however it does not make the people in these communities less productive. You can trust them to show up and engage whenever they can.


MN - Graphics - 2024 - ModernCreator-Join


8. Know the worth of the cost of membership


It's not difficult to imagine the cost of membership from your perspective. It's your cash flow after all.


It is important to think about what a membership fee does for your members too. In this case, a member fee can help people be more committed. The members who pay their fees are more active. As people who pay are more attentive.


These numbers reveal that a membership fee doesn't decrease members' willingness to buy upsells. 75% of the free networks are making upsells to paid products. But 90% of paywalled companies offer upsells!


It suggests that, not only do members pay, but also members who are paying are also willing to pay for additional value. Be aware of this when you are pricing your membership site.


MN - Graphics - 2024 - Livewell-SingleEvent


9. Do not miss the trial for free!


Online sellers typically offer free trials. However, it's not always required. Only 27% out of the top 250 revenue-generating offer a Free Trial.


Free trials have their place. But they also change the nature of a community. If there are members that drop between meetings, engaging but not staying the same, this could affect the unity of your group.


In many instances, it's best to start the process prior to the time of ensuring that your ideal member is in place; do the screening, and make sure that people arrive at the entrance ready to give the fullest.


MN - Graphics - 2024 - Livewell-Feed-DarkMode


10. Make more opportunities


In the most profitable community memberships, the best source of income is from those already in the door.


While it's common to think, "I'm already charging them and I shouldn't be charging to do something other than that," we find that those who are active members usually want greater. It could be a highly engaged mastermind, a 1:1 coach, or an incredible virtual or even live event.


We're not suggesting to increase the price just in the name of charging more.


However, do take a look at your existing members and ensure you're providing them the most value possibly can-even if it means a new offer!


MN - Graphics - 2024 - Livewell-Discovery


11. Make sure members connect


We look at communities that have succeeded. They have one thing they share.


The most successful communities have people who have become a friend (that's not the Host). Community members join for content, courses, and occasions, but stay within the community because of friendships they develop.


That means one of the most important tasks a Host can accomplish is to provide opportunities for your members to meet each other and become friends. It might be asynchronously: in a discussion prompt or a post. It could also be done synchronously: in office hours, in a live meeting and even in organized group discussions or networking events.


Let them out of the blocking and allow them to connect.


Your community will grow stronger because of it.


MN - Graphics - 2024 - SplashScreens


12. Include your "supers" to aid you.


Your super-members provide a wealth of information. And most Hosts don't use them to the maximum extent. Members who are most active are looking for ways to connect more. You can also get them engaged in ways that go that go beyond the normal member experience:


 

  • You can ask them to help facilitate discussion        
  • They should be enlisted to moderate the community and its content    
  • Highlight their story or even interview them        
  • Request for them to get in touch to greet new members.      


Some supers may not accept our suggestions, but many supers just waiting for the opportunity to help more. Don't be afraid to enlist the help of their supers.


2024 - Graphics - Video Course


13. Choose the right platform


Finally, the biggest boost to your membership community might come from the community platform that you decide to use. If you select a platform that lets you blend any kind of information, course as well as community and live events together with a powerhouse digital marketing engine, you'll have the recipe for an amazing community-based business.


When we built our community platform, we took into account everything that you need to run the development of a vibrant membership group.


This means:


 

  • The ability to create any kind of content you want, including posts, long-form content, discussions, polls, and stream live .      
  • Sell memberships, pre-recorded or live classes, virtual events masterminds, group-coaching and bundle all of these in your local currency.    
  • Unleash the power of connection that are unlike anything else: discussion starters, chat & messaging, AI profiles and text improvements rich member directories, profiles. Conversations are included at every turn.        
  • Make your own identity for yourself, colors, customized Spaces, or move to a custom-branded application .      
  • Design the sales engines of your dreams by using auto-landing pages, customized screener questionnaires and welcoming features.        


MN - Graphics - 2024 - OE-Discovery


Conclusion





Are you ready to begin? Join us to build your community with Mighty! The top community platform from G2 that includes everything you require to go from 0 to 6-figures. You can try it for without cost for 14 days - no credit card required.