Member Community Secrets: Build an e-commerce company that has a 6-figure the size

Jun 6, 2024

Communities of members have evolved in the past 10 years. We've witnessed how they started out as the beginning and then grew into 7 or 6 and eight-figure enterprises. There are many inspirational examples of community membership, but here are some of the coolest wins we've witnessed recently:

  • The group for entrepreneurialism that made $30,000 in 2 1/2 weeks with five thousand members.
  • Health-focused members who just has added 100 premium customers (and approximately $40,000 added to the ARR).
  • A speaker and author who generated $30,000 of revenue to their customers following the end of a four-week promo.


We are awestruck by these victories, and there are many wonderful stories on community and belonging from all kinds of communities and sizes and.


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In this blog in this post, we'll explain how to build the membership-based community. Discover how to build an organization that has paid members, and provide you with details on how you can move from wherever you are to a business with a value of six figures.


Although there's no assurance, these are tried and tried methods that which have been proven time and again.


This guide will help you join a 6+-figure membership community.



     ((toc))


1. Get a razor-sharp niche


This is somewhat of a cliché at this point however we'll have to reiterate this. The best opportunities lie in specific niches.


Communities with too many facets.


Being a host that is new to the field, you might be inclined to spread your net. Wouldn't you like to have more people inside your own community?


No!


Problem is that when there is a large group of non-related people, you can't possibly engage all of them. It's also unlikely that they'll engage each other either.


Your neighborhood is not flat.


The niche is can make it thrive. The membership communities are created on a variety of topics from German ballet to anime. Public speaking is a requirement for professionals in finance to email newsletters for non-profts.


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Your focus is key to your success. If you're building an online community for members, you'll be able to go all over the globe in search of those who are in your niche.


Star with an overall idea for the idea of a community for members before narrowing down more than you believe you have to.


Visit our Community Name Generator

The AI engine of our service is here to assist you in creating a community name that feels like magic. All you have to do is share a few lines about the people who make up your community and we'll establish working. * Enter maxlength="60" name="idealMember" placeholder="Who are you looking to unite?" type="text" value=""/>

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

Get suggestions from your friends.

The names generated by the Mighty Co-Host(tm) are just examples and can be utilized by different businesses, or subject to third-party rights. To learn more, read our Terms and Conditions..


2. They serve a big purpose


The classes we teach the idea of Community Design(tm) on Mighty the Web The way we teach is to start by having students design the Big Goal.


The The Big Purpose serves as the primary motivation behind the existence of your community.


Traditional businesses have their own purpose statement. These membership organizations that perform serve a big purpose.


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We're so thrilled about the concept of communities being formed with a grand Purpose We created this in our community engine. Every community we join is encouraged to select a Big Goal.


Try it!


     Get started with your free trial


3. Find the perfect member


It is a matter of area of expertise, but start with the Ideal member. It should be the only person you could serve through only one specific goal or problem.


Do you want to know the best way to find your ideal member? Request to interview them!


If you have a concept of what you'd like to accomplish, make it a point to speak with some of those who are the perfect people. If it's daunting, it will be a great experience that you made the effort.


Ask them questions such as:


   

  • What are the issues you're having difficulties in tackling?
  • What kind of support are you looking for?
  • What price are you willing to be willing to pay for the things you need?


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Talking to these individuals will take you one step closer to creating a thriving members-only community. Because it gets the idea out of your head and out into the world of conversation.


However, make sure to be aware of the Ideal Members.


   

  • If all parties express interest, however, no one is willing to buy it, then you may need to change direction.
  • If the problem you've identified isn't the issues your ideal group of friends has discussed It may be time to reorient your priorities.


Market research, therefore you should take this seriously.


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4. Start with the basics


There are membership communities that offer membership with thousands of members. There are stories about people who are paying $50,000 monthly. We've also shared some examples at the conclusion of this article.


Do not let us make a mistake We'd like to assist you be able to reach your goal!


But even if you have only just begun, it's worthwhile to start with a small amount.


Smaller communities have an easier to connect. You will be able to meet every person who live in your area, which could be difficult in a large community with hundreds of individuals.


When you've become really proficient at meeting the requirements for those 10-20, or even 20 members of your first community You are able to begin scaling up to hundreds of thousands.


     Remember, there's no requirement for million of people to create a vibrant community. The average community that is on Mighty costs $48 per month. You can have a chance of having the possibility of a community that is six figures which has more than 174 people. This isn't even including features which the majority of our communities offer as upsells: special events, private coaching masterminds and classes. It's possible to make 6 figures from 30 or 40 members so it's done in all the steps correctly.


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5. Offer something for sale


If this is the first time the creation of your own website for membership  offer something to sell.


Simply breathe and cut off the band-aid. You can create a landing page and invite your first members. Maybe it's a live course or an event with the intention of opening the doors. Publicizing an offer and even letting it be sold prior to the event will help you confirm your idea of a community based on membership.


6. Take into consideration screen


The health of your membership community is determined by the caliber of the people who belong to it. Screening is the best way to ensure that you have the best quality members.


It's a little like a contradiction. Will you turn off others? You'll make it more difficult for others to become part of your community? Increase tension?


However, in certain instances certain situations, these "negatives" are offset with a very positive factor which is that the people in your local community are actually willing to get involved.


It's hard to reject potential members, screening could increase the worth of your community to those that decide to join. This is worth the weight in gold.


Screening could include:


   

  • Make an automated survey for the checkout process.
  • Making a checklist of the conditions required for people who are interested in joining.
  • conducting live, one-on-one or group discussion with potential members.


It's sometimes concerning telling people to stay away if they're not a fan of the company. But, when you've built an active community, you'll be grateful to yourself for joining.


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7. Learn the maths


If you are looking to get completely involved in a member-only community, it is necessary to know the most important figures.


It's impossible to find a community with complete participation every day of the week.


None. Zilch.


Every community has"super members also known as "supers". It's the 5 - to 10-percent of your members who are super engaged and bring all their enthusiasm into everything they are involved in.


50percent of the members could be seen often. Some members don't get any attention and have to pay the annual membership fees.


These figures are quite normal. Be sure not to let them discourage you. Also, don't let it affect you at all!


If members have been enrolled in your membership community and have been able to recognize the benefit. Particularly, if they're paying the annual membership fee.


Your community might represent some idea they've considered but they aren't able to fully commit to it right now. Your group could provide that incentive they'll need to get started small every month.


Do not sell yourself as a short-changer. 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 that doesn't mean the people in these communities less productive. It is safe to trust them to attend and take part every time they're able.


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8. Understand the value of the fee for membership


It's easy to envision an annual cost for membership in terms of financials. Cash flow will be in the last.


It is also important to think about the value of membership fees for the members of your group as well. If this is the case, a cost for membership will help the members to commit. Members who pay for their membership are more engaged. Since those who pay are more focused.


The numbers indicate that having a monthly fee to join doesn't impact people's willingness to pay for upsells either. 75% of the companies that don't charge a fee are offering upsells of paid items. However, 90percent of the paywalled businesses sell upsells!


This implies that, not just do members pay, but also the members paying as well willing to pay for extra worth. Consider this when you price your membership site.


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9. You don't need to bother with the trial. trial


Online sellers often offer a free trial. But it's not necessary. Only 27 percent from our 250 top offer income a Free Trial.


Free trials have their place. However, they can alter the characteristics of a community. If you've got members who attend meetings but aren't engaging however, they aren't staying at the same level, it could influence the cohesion of your community.


In most cases, it's more beneficial to get the process started up early to ensure the ideal candidate is there; do the screening, and make sure they're ready to perform their best.


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10. Create new deals


In the most profitable members The most under-utilized source of revenue is from those that are members already.


While it's common to think "I'm already paying them for this and I shouldn't be able to charge them for anything other then that" We find that active participants often demand more. For example, they might require an active mastermind group as well as 1:1 coaching, or a truly amazing online or live occasion.


We're not suggesting to charge higher prices just to make the case of a higher price.


Do take a close take a look at the existing customers and ensure that you're providing your customers with the highest value that you could offer you, even if this isn't yet made!


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11. Make sure members connect


We research successful communities. They share one thing. have in common.


Communities that are successful have members who have made friends (that's not the host). Community members join for educational activities, content, or activities, yet they remain connected to the community because of friendships they develop.


It's a signal it is one of the primary tasks that a Host has to achieve is to create opportunities to members of the group to connect and become friends. This could be done synchronously, for instance an invitation to conversation or on a blog. Additionally, it can be done synchronously at work as well as during live meeting, or even through organized group discussions or networking meetings.


Take them out of your ways and allow them to be connected.


Your community is bound to grow stronger due to it.


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12. Make use of the support from your "supers" in order to aid


Your super-members can be an invaluable resource. Most Hosts aren't using the full capacity of their members. Members who are most engaged are looking to be more connected. They can be involved by ways that are different from your normal membership experience


   

  • Request them to help facilitate the discussion
  • They should be enlisted to moderate the discussion and content of the group.
  • Feature their stories or interview them
  • Invite them to reach out to the new members and welcome them.      


There are supers who may not agree However, we've found that the majority of supers eager to assist even more. Don't be shy to ask for assistance from their supers.


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13. Pick the appropriate platform


In the end, the most significant benefit to your community may be the community platform you choose to build on. If you pick a solution that lets you mix any kind of content like community-based courses, workshops or classes along with an incredibly powerful digital marketing system You'll be able to create the perfect formula to build a great community-based business.


In the process of creating our community platform, which we built, we considered all the components you'd need to consider for the growth of a vibrant membership group.


This is a reference to:


   

  • The ability to create all kinds of content that you'd like to create, including posts, long-form content discussion or polls, aswell as livestreaming .
  • Offer memberships, recordings of live online classes masterminds, group coaching or bundle one of these-all in your home currency.
  • You can unlock connection tools unlike other, such as discussion starters, chat & messages, AI profiles and text enhancements, as well as rich member directories and profiles. Conversations are recorded at every turn.
  • Make your own branding identity Colors, custom Spaces, and colors to change to a customized app .
  • Build the sales engines you've always wanted with automated landing pages, customized screening questions and more welcoming functions.


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Conclusion





Are you eager to get started? Join us in building your community with Mighty! The top community platform from G2 that comes with everything you need to go anywhere from 0 to 6 figures. Try it free for 14 days with no credit card required.

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