You’ve made it. Funning your own membership website is a long-held dream coming true. But that’s only the beginning; you need to make sure that you are making profits from your efforts. Running a membership website is more than just creating informational products and hosting them on the site hoping that customers will make a beeline for them. You have the skills and the knowledge to create stellar products, but you need to cater to the business side of things as well. Ensure that you are not making the following four mistakes that can make your online business go bust in no time at all:
It is great that you have chosen to spread your specialized knowledge, unique life story, and profound insights through your membership website. But you have an obligation, both to your subscribers and to yourself. You have to provide VALUE to your subscribers. Remember, they are spending their hard-earned money to read your eBooks, watch your videos, listen to your podcasts, and take your courses. Respect their time and money, because if you don’t, they will leave you for other sites. You also have to ensure that your hard work is setting the cash registers ringing. So here are six pieces of advice to make your membership website wildly successful: 1. Take cues from other websites You don’t have to reinvent the wheel always. An excellent time-saving and fool-proof way to guarantee success is to follow what other successful people (in this case, successful membership websites in your niche) are doing. If you are a member of such a site, review: What’s working for you. Figure out why you continue being a member of that site. Mull over their offerings and think how these have changed your life for the better. What’s not working for you. It is as important to learn from non-examples as it is to emulate examples. So also mull over what did not work for you on that site. Especially consider the courses that you left midway or the eBook that you now regret buying for that princely sum. 2. Review and rethink your prices. Revamp, if necessary Here, the watchword is balance. You should have a pricing strategy that brings you profits without scaring away potential customers. Get into the shoes of your potential and existing members and figure out what appeals to them. For instance, instead of offering all your digital content in a single three-month course, you can break up the information into courses and podcasts, bundle these into multiple small packages, and sell each over the course of six months.
According to novoed, the completion rate for online courses stands at an abysmal 13 percent. If you are a subject matter expert who wants to share your knowledge with your audience or a course developer, you will want to do something to make sure your courses don’t end up being a piece of statistic. Right? I’ve got a solution for you: Incorporate videos in your courses. They are great instructional tools and up the engagement value of your course. But the trick is to produce ones that appeal to your audience. Here are four tricks of the trade: 1. Aim for the right length Today’s busy learners don’t want to wade through frilly introductions and fluffy content (read: irrelevant information) to learn. They want the answers to their questions right NOW. Kaltura’s State of Video in Education Report of 2016 lists the best practices of using videos in eLearning. The report emphasizes that the right duration of an instructional video is instrumental in making for an engaging and memorable learning experience. So what should be the ideal length of an educational video? According to the findings of a study carried out by researchers at the University of Wisconsin-Stout, most online learners prefer that instructional videos be less than 15 minutes in length.
Basically, our insecurity about people getting a student outcome, we want to dump them with more and more stuff. Bad idea. They didn’t need more; they need a client pathway that’s gonna get them a result. So that’s one of the big things we do, is we actually strip away a lot of stuff that’s not important. They want to focus on one problem, one solution, check. I’ll buy the next solution. One problem, one solution, check. That’s how people learn, and that’s how people evolve. So, whatever you’re teaching, we want them to have student outcomes and be the best version of themselves, whether it’s personal development, health, wealth, business, doesn’t matter. So, we need to understand these core concepts. So, here’s the learner and this is the ascension model for the e-learning platform. Specialist, certified, coach. Entry level course, advanced course, mastery. It’s like the equivalent of walking in to, say, Wal-Mart and all the information there versus Ikea, a very narrow pathway.
You have probably heard this term being thrown around in the news in reference to college and university. With billions of dollars in student debt, the question arising is if people are getting the return they deserve on the education they are paying for. Here at Client Engagement Academy, our mission is to help 100,000,000 million students around the world get the student outcome and return on education they deserve. Our philosophy of providing students with a desired tangible and applicable result for their courses is the biggest reason for the success shared between us and our clients. By focusing on the return, you prove the course value and extend the lifetime value of your customers by inspiring them to further their education on your platform with more courses.