Continuing our discussion on memberships and if a membership is right for your business. I spoke recently (HERE) about how to decide if a membership is right for you and your business and the three questions you need to ask before launching a membership. Here I’m going to speak about the 7 types of memberships. I really think that you can figure out a way that a membership really works for your business because there are so many different types and different ways to do it. I’m going to walk you through the 7 different types of memberships, and I’ll give you some examples so you can have a clear picture of what membership is right for you. You can also check out my free webinar HERE for more information on how to use a membership in your business.
Let’s get into the 7 Types of Memberships
1- Content model
For the content model of the 7 types of memberships, I like to think of it like a magazine subscription. If you subscribe to a magazine you get a magazine every month or every quarter, and you know what you’re getting in that magazine. It comes on a regular basis and delivers regular content. The whole thing here is that you’re delivering a certain amount of content. I recommend giving 1-4 pieces of content a month. Anything more than that and it gets a little crazy.
Some examples of this– meal plans that are sent out regularly, or Instagram pictures that are sent out monthly for social media use.
2- Collection model
More like a library subscription. You pay a certain amount and you get access to a library of content. I have my business academy. It is a collection model because it has all my courses in there. You don’t own any of it, but as long as you pay, you have access to the content that is in there and anything else that I add to that library.
More examples of the collection model are Disney+, Netflix, Audible, Spotify, etc. A lot of people and companies use this collection model of the 7 types of memberships.
3- Creation model
For the creation model, you get access to technology or tools that you don’t have already. People will pay to use tools or programs that help them in their creative processes. For example, Adobe switched over to this model where you pay every month to have access to their technology. Canva is another example of this model in use. Your email marketing software is a common use of this type of membership- you pay to have access to their platform and technology.
4- Coaching model
For the coaching model of the 7 types of memberships, you pay to get more intimate access to a coach or some type of prominent figure. Example: Money Makers (my coaching group), a life coach, a health coach, etc. The thing you have to think about here is that you have to build it to scale because if you spend too much time with one particular person you will have to charge a lot more for that privilege. I love to use Marco Polo’s Channels App for my coaching group because it allows me to reach a lot of people easily on one platform.
5- Community model
In the community model, people pay to have access to a community or a specific group of people. Paid Facebook groups fall into this category of the 7 types of memberships. The whole reason these groups exist is so that you can collaborate and help each other out. It’s a cool way to build your community because you’re able to find the right kind of people that have similar problems and they can help each other.
6- Campaign model
The campaign model is made up of pre-made content that is released when someone signs up. This is a start anytime model. When someone starts this membership, they start at email one and are dripped content over a period of time. My favorite example of this is StoryWorth. It is a company that helps you tell your story or your patient’s story and they do that by sending you a question about your life. When you get the questions, you fill out the answer and then the next week you get another question. By the end of the subscription, you have part of your life in one book. Anyone can start that path at any time and they will get that first email.
The upside to this type of the 7 types of memberships is that you create the system and the content and then you can step away and forget it a bit. The downside to this model is that your system is usually only a few months long. If it is set up as a 3 month subscription, then you only get them for 3 months, which isn’t very long.
7- Combo model
This is a mixture of all of the other 6 models above. You can take bits and pieces of all of the other types above. I’ve done this with my Money Makers group. If you are looking for a place to be more motivated, a community of like minded women, more access to me, come join money makers. It’s a low monthly fee so come join us. In my Money Makers, I do coaching, it’s a great community, and I also provide really great content. When you’re trying to figure out your membership, you really can build your perfect membership with bits and pieces of all the types.
The sky’s the limit when it comes to the 7 types of memberships. Whether you add one into your business or decide it’s not for you, it’s good to know what types of memberships are available! For more information and my tips on building a membership for your business, check out my FREE Webinar by clicking HERE.
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