Are you looking for ways to create recurring income?

You can create recurring income by providing your customers with content or a digital product they pay for every month. This benefits your business because you can protect your content and automate several tasks.

If you’ve made a large amount of helpful information, it’s important to ensure that not all of it is downloaded at once. Some users may even ask for a refund within the refund time-frame and get your product for free.

Creating recurring income through a monthly subscription platform protects your assets. It also helps users by giving them access to fresh and updated content they won’t find anywhere else.

You can build a membership site to start generating recurring income. Using a membership site has several benefits:

  • Users can automatically register, change passwords, cancel, and manage their profiles
  • It allows you to automate payment collection by integrating with payment tools
  • Membership sites have drip content features that help you protect your content by ‘dripping’ access to content a little at a time
  • You can integrate email marketing services to drive email campaigns
  • It has features to build an online community

Membership sites let you scale your business. Let’s now explore the steps you need to take to launch a business that gives you recurring income.

Brainstorm Content and Product Ideas

The first step is to know exactly what you’re offering to customers. Make an inventory of your skills, experiences, educational qualifications and, interests. Ask yourself what your strengths are, and the unique perspectives you can offer. Brainstorm ways in which you can help people and make a difference. When you know what you have to offer, you’ll have a clear direction for your business.

Do Research

It’s a good idea to do some research before starting on your content. Find out what your competitors are offering and if there’s a need for your content. If there are competing websites, find out how you can differentiate yourself. You can get information by creating polls and exploring different forums to understand your audience’s pain points. Doing research will steer your content-creation to develop unique solutions.

Plan Your Content and Pricing Strategy

Once you have a general idea of the content or product you need to create, you can start developing a plan for it. Create a general outline of your content. Break it down into sections and subsections. Determine the different levels of subscriptions you are going to offer, and the content for each subscription packet.

At this stage, plan your digital product and the features you’ll offer. You can also figure out the pricing for different plans. Creating a plan will help you channel your efforts in the most efficient way. It’s important to note that you’ll probably revisit your plan over and over again as you set up your business.

Develop a pricing strategy that makes sense for your business

Create Your Content or Product

Now that you have all the information you need, you can start building your content. There are different types of content that are useful to generate recurring income.

Online courses: Online courses can use multi-media content` such as videos, written articles, quizzes, and audio.

Premium content: Premium content includes in-depth articles and insights that are not accessible anywhere else

Discounts and offers: You can offer curated information such as discounts, coupons, or offers. Sites that help people find deals on flights often create recurring income by providing such information to members.

Industry information: Reports, market information, and statistics are content that is less common and helpful to the business community. For example, A newsletter containing market updates can be valuable to traders and investors.

Digital products: They include tools like plugins, themes, and apps.

Online community access: You can allow people to have access to exclusive online groups for support and discussion. Networking and mentoring sites are examples of community-based membership sites.

You can also create recurring income from a combination of different types of content.

Create a Membership Platform

You need an online platform to host your product or content. One of the easiest things you can do is to set up a WordPress site and use a membership site plugin.

A membership site plugin will let you create a community, host content and manage a site without having to code.

Once your membership site platform is up, you can add your content to pages. Create different types of blog posts and use tags, categories and custom taxonomies to group your content. This is important because you will control access to your content based on these details.

Protect your content by adding drip features using a membership plugin

Create your pricing page and set up the rules that allow subscribers to access content. You can do all these things with a great membership site plugin.

Promote Your site

Creating your site is just the beginning. To create recurring income, it’s important to get people to join up. You need to initiate marketing campaigns that attract people to your site.

Start promoting your site by optimizing it for SEO. Create pages and profiles on different social media platforms. You can promote your business by creating posts and sharing them on social media.

Generate a buzz by creating a giveaway contest. You can offer a limited period free trial or a discount to get people to sign up.

Make Recurring Income a Reality With a Membership Site

Follow the suggestions given here to create a site that generates recurring income. It’s also important to remember that a successful membership site needs continuous work.

Keep creating fresh and updated content for your current members, or you stand to lose them over time. You also need to focus on creating great customer support that keeps your audience happy.

You’ll create a successful business generating recurring income by using the right tools and creating great content.