Subscription based websites are becoming more popular for business owners. There are so many benefits to building a membership site – supply replenishment, creating a private area for your customers, creating a stable income, creating relationships with customers, easier forecasting, and much more. Subscription based websites are also very convenient for your customers as well. The majority of people either don’t have the time or just can’t be bothered to constantly have to re-order their online supplies. It’s also not uncommon for people to just simply forget to re-order online supplies. These are the main reasons why you should integrate subscription based services to your website.
It’s Recurring Revenue with More Reliable Income
Members pay a monthly (or quarterly, yearly, etc..) fee in exchange for access to your content, which also means you can continuously build upon your revenue every time you get more signups. Subscriptions can easily be marketed within your strategy, and there are also new web design software and tools to make it easier to offer tiered subscription services. Adding subscription services to an already existing website isn’t too much work either. The overall value of having subscription based services is much higher than the time and money it will take to add to your website.
Memberships Help Create a Relationship with your Customers
When you create a membership site, you are basically creating a community. Your members sign up in the first place because they are committed to your business – whether it’s for entertainment or convenience. They are likely to be interested in anything your business is offering. You are also adding value to your website for your customers – If you create value for your customers by treating them well and providing more than they expect, then you are adding loyalty to your customer base. Loyal followers are customers who believe in your company and will share your website and services with their friends and family. Having a loyal customer base is worth a lot these days.
Your websites value will constantly increase
Whenever you are creating a subscription based website you will need to keep up with content for your subscribers. As you add more content, your website and community will grow, more people will sign up, which will increase your revenue and free up your time to create even more content, which attracts even more subscribers, and so on.
Easier Financial Forecasting
Having subscribers allows you to have a constant base of revenue to work off. Membership revenue can be more predictable and reliable than some other business models. Knowing that your business has a strong base of subscribers makes it easier to try new things, like new ad campaigns or new products, knowing that you have reliable income coming in should new projects fail to be successful.