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

Jun 4, 2024

Membership communities have change and disappear over the past decade. We've watched the ones that grew from nothing and grew to become seven, six or even eight-figure enterprises. There are countless inspiring examples of membership communities, but here are some of the coolest wins we've seen recently:


  • The organization for entrepreneurship that made $30,000 in 2 1/2 weeks with five thousand members.        
  • An health-focused member which has just has added 100 high-ticket subscribers (and the equivalent of $40,000 to ARR).      
  • An author and speaker who added $30,000 in revenue for their members after the completion of a four-week promotion.        


We love to celebrate these wins, there are tons of wonderful stories about membership and community from communities of all sizes and shapes.


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In this blog in this post, we'll explain the power of a membership community. Learn how to create a community of paid members, and provide you with an outline of how to move from wherever you are to an enterprise worth six figures.


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


This is the guide to a 6+-figure membership community.



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1. Get a razor-sharp niche


This is a bit of a cliché at this point however we'll repeat this again. The best opportunities lie in niches.


Communities that are too wide-ranging.


As a host who is a novice you may be tempted to cast an expansive net. Wouldn't you like to have as many people as possible within your local community?


No!


The problem is, when there is a large group of non-related people, you can't possibly engage the whole group. And it's unlikely they will engage each other either.


Your community is flat.


The niche is what is what makes it flourish. The membership communities are founded on any topic from German dance to anime. From public speaking for finance professionals to newsletters sent via email for non-profts.


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Your niche is the key to your success. If you're creating an online community of members, you can reach around the globe to locate members of your particular niche.


Star with an overall idea for the idea of a community for members and then niche down more than you believe you have to.


Check out our Community Name Generator

Our AI engine is available to assist you in creating a community name that feels like magic. You just need to share a few lines about who your community is about and we'll set working.            • Input maxlength="60" name="idealMember" placeholder="Who do you wish to unite?" type="text" value=""/>

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

Ask for suggestions

The names generated by Mighty Co-Host(tm) are examples only and can be utilized by different businesses, or be subject to third-party rights. For more information, check our Terms.


2. They serve a big purpose


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


The Big Purpose is the main reason why your community exists.


A traditional business has its own mission statement. The membership groups that succeed serve a big purpose.


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We're so excited about the idea of communities forming with a Big Purpose, we built this into our community engine. Each community that joins us is encouraged to pick a Big Goal.


Try it!


 Start your Free Trial


3. Have an Ideal Member


This is related to your specialization, but begin with the Ideal member. That should be one customer you can serve with one narrowly-defined problem or goal.


Are you interested in knowing how that can be done to discover your Ideal Member? Ask them to be interviewed!


If you've got an concept of what you want to do Make it a priority to speak with some of the ideal people. If it's daunting, it will be a great experience that you took the time.


Ask them questions like:


 

  • What issues are you having trouble with?        
  • What type of support do you want to look for?        
  • What are you willing to pay for what you want?        


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Interviewing with these people will take you one step closer to creating a thriving member-based community. Because it gets the idea off your brain and into the conversation.


However, make sure to pay attention to the Ideal Members.


 

  • If everybody expresses interest however, no one is willing to buy it, you could need to pivot.        
  • If the issue that you have identified differs from what your ideal group of people have discussed, it could be necessary to change your focus.        


It's market research therefore, you must take it seriously.


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4. Start small


There are membership communities that are launched to thousands of members. We hear the stories of members who pay $50,000 per month. We've also shared some of them at the end of this piece.


Don't let us get wrong, we'd love to help you be able to get there!


But even if you have just started out it is worth starting small.


Smaller communities have an easier to connect. You can get to know all the people in your community, which would be nearly impossible in a community of thousands of people.


Once you've gotten really good at meeting the requirements of those 10, 20, or even 20 members of your first community You can begin scaling to reach hundreds of thousands.


    But remember, there is no need for millions of people in order to build a thriving community. The average community on Mighty charges $48 a month. There's a possibility of a six-figure membership community with more than 174 members. This isn't even including features that the majority of our communities offer as upsells: events, private coaching, masterminds and classes. You can make six figures for thirty or forty members as long as you follow the right steps.


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5. Offer something for sale


If this is your first encounter with creating your own membership website , sell something.


Just hold your breath and cut off the band-aid. It is possible to create a landing page and invite your first members. Perhaps it's a live class or an event to open the doors. Making an offer public, even pre-selling it, will help you confirm your idea of a membership-based community.


6. Consider screening


The health of your membership community is determined by the caliber of its members. And screening is a way to ensure that you receive the highest quality members.


It's a little like a contradiction. Are you going to turn off people? Make it harder for people to be a part of your group? Add more friction?


However, in certain instances, these "negatives" are offset by an extremely positive aspect that is the fact that people part of your local community are actually eager to join in.


It's not easy to turn down prospective members, screening could increase the worth of your community for those who choose to join. And that's worth its weight in gold.


Screening could include:


 

  • Set up an automated survey for your checkout procedure.        
  • Making a checklist of the requirements needed for those who want to join.        
  • hosting live one-onone or group discussions with prospective members.        


Sometimes, it's even about telling people no when they don't person for your company. However, once you've established a vibrant community you'll thank yourself for joining.


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7. Understand the numbers


If you want to be all-in on a membership community it is necessary to know some crucial figures.


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


None. Zilch.


Every community has what we call super members, or "supers". This is the 5 to 10 percent of your members who are super engaged and bring all of their energy into everything they are involved in.


50percent of the members could pop in and out occasionally. There are those who aren't seen at all who pay the membership fee.


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


If members have been enrolled in your membership community, they will recognize the benefit. Particularly, if they're paying the monthly membership cost.


Your community might represent an idea they've had but they aren't able to commit 100% to it at the moment. Your group could provide that push they need to start small every month.


In short, don't sell yourself short. Show up, do the work and don't sweat it too much.


    Keep in mind that communities for busy people may have the lowest participation. A community of CEOs might cause a titch, but it doesn't make the people in these communities less productive. You can trust them to be there and participate whenever they can.


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8. Understand the value of the membership fee


It's not difficult to imagine an annual membership cost from a financial standpoint. The cash flow is in the end.


However, you must consider the value of membership fees for the members of your group as well. In this case, a cost for membership helps members commit. The members who pay their fees are more active. Because people who pay, are more attentive.


The numbers indicate that a monthly cost for membership doesn't affect people's willingness to pay for upsells either. 75% of the free networks are selling upsells on paid goods. However, 90percent of the paywalled companies make upsells!


This implies that, not only do members pay, but also members who are paying are also willing to pay for additional value. Consider this when you price your membership site.


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9. Don't bother with the free trial


People who sell stuff online often offer a free trial. It's however not always needed. Only 27% of our top 250 income-generating offer a Free Trial.


Free trials have their place. But they also change the nature of a community. If you've got members who drop between meetings and engaging, but not staying the same, this could affect the cohesiveness of your community.


In many situations, it's more beneficial to start the process up front to make sure the ideal candidate is there; do the screening, and ensure that they are prepared to be the fullest.


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10. Make new deals


In the most profitable members, the most untapped source of income is those who are already members.


It's normal to think, "I'm already charging them, I can't charge to do something other than that," we find that engaged members often want something better. For example, they might want an active mastermind group, 1:1 coaching or a truly amazing online or live occasion.


We're not suggesting to charge more just for the sake of charging more.


Do take a close take a look at the existing customers and ensure that you're offering your members the best value could possibly give them, even if that means an offer that's not yet made!


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11. Make sure members connect


We study successful communities. They have one thing they share.


Successful communities are full of members who have made acquaintances (that's not the Host). Community members join for educational content, events, and activities, yet they remain with the communities due to the relationships they build.


It is a sign that one of the primary things for any Host to accomplish is to provide occasions for members of your group to connect and become friends. It might be asynchronously as in a conversation prompt or in a blog post. Also, it could be synchronously: in offices, during in a live meeting, or even through organized breakout groups or networking sessions.


Take them out of your way and let them connect.


The community you live in will grow stronger because of it.


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12. Incorporate the help of your "supers" to assist


Your super members can be a valuable resource. The majority of Hosts aren't using them to their full potential. Your most engaged members want to get more connected. And you can get them involved in ways that go beyond the normal member experience:


 

  • Request them to help facilitate discussion        
  • Enlist them to moderate the group and its content    
  • Feature their stories or interview them        
  • Invite them to reach out to welcome new members      


Some supers may not be in agreement, however we have found that the majority of supers waiting for the opportunity to help more. Don't be afraid to enlist the help of their supers.


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13. Pick the appropriate platform


Finally, the biggest boost for your community could be the platform for community you choose to build on. If you select an option that allows you to blend any kind of content, courses or community-based events together with a powerhouse digital marketing engine, you'll have the formula for creating a fantastic community-based business.


When we built our community platform that we built, we considered all the elements you'd need to have for the development of a vibrant membership group.


This is a reference to:


 

  • The ability to create any kind of content you like, such as posts, long-form content discussion, polls, as well as livestreaming .      
  • Sell memberships, live or pre-recorded classes, virtual events, masterminds, group coaching or bundle one of these-all in your home currency.    
  • Unlock connection tools like no others such as discussion starters, chat & messaging, AI profiles and text improvements, rich member directories and profiles. Conversations are included at every turn.        
  • Create your own brand identity, colors, customized Spaces, or move to a branded app .      
  • Create the sales engines of your dreams with automatic landing pages, custom screening questions, and other welcome functions.        


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Conclusion





Are you ready to begin? Come build your membership community with Mighty! The top community platform from G2 and comes with everything you'll need to get from zero to 6 figures. Test it for without cost for 14 days - no credit card required.