It’s the perfect situation for an affiliate marketer: you get to promote a product you’re passionate about, while still being able to generate sales from a clickable product interface.
The concept behind a membership site is to create a digital storefront that features products you’re passionate about, and also allows members to engage with you through online discussions, calls to action, and limited-time offers.
This type of website can be highly effective, as long as you employ the right strategies. In this article, you’ll discover 3 winning ways to monetize a membership site.
Monetizing With Affiliate Marketing
If you’re new to the world of online marketing and sales, you might wonder how merchants and affiliate marketers make money online. Typically, the model works like this: you’ll post reviews of products (ebooks, software, gadgets, etc.) that you’ve tried out. When someone clicks on one of your affiliate links (perhaps while browsing your blog posts), they’ll be taken to a retailer’s website where they can learn more about the product and purchase it.
The nice thing about this model is it requires little to no investment. All you need is a website, and you can use free tools like WordPress to make it happen. As a result, you can start seeing results quickly (sometimes within just a few days).
Since you’re not actually selling any physical products, your conversion rates tend to be higher. In fact, according to HubSpot Blogs’ research, converting visitors into purchasers is 4x more likely for affiliate marketers than for traditional advertisers.
Monetizing With Affiliate Sales
If you’ve ever shopped at Nordstrom, you may have noticed the “Join the Club” or “Sign up for our newsletter” offers in the shopping cart. Essentially, these are affiliate promotions that help the store earn a commission when you make a purchase.
The model works the same way, except instead of earning a commission when someone buys a product, you’ll earn money when someone clicks a button or makes a purchase after being exposed to your content.
To create a successful affiliate promotion, you need to understand how to draw in potential customers with killer content, while simultaneously enticing them to click a link or make a purchase. You can use this technique to promote any product or service, whether you’re an affiliate marketer or a traditional retailer.
For example, say you’re a fashion blogger. One of your regular topics is style tips. One way you could monetize this is by creating a blog post series where you give advice on how to achieve a certain style (e.g., grumpy monk style, hip hop style, etc.).
To promote this content, you can create an affiliate link such as “Check out this post on how to achieve a grumpy monk style – it looks like a lot of fun!” Then, when a reader clicks the link and makes a purchase, you’ll earn a commission.
This technique is highly effective, as long as your audience is searching for content on your preferred topic. Otherwise, they may not be interested in what you have to offer. Once the interest is there, though, the results can be very lucrative.
Monetizing With Paid Inclusions
Last but not least, we have the paid inclusion model. Similar to the first two techniques we discussed, this technique also relies on affiliates to generate income. However, rather than relying on clicks and purchases, you’ll be making money from a product or service you’ve been awarded as part of an affiliate program.
To take part in an affiliate program, you’ll need to reach a certain threshold of subscribers (usually 2000+). Once you reach this threshold, you’ll have the option to sign up for the program, which will then reward you with free products or services. You can then use the freebies to promote your blog or website, or simply enjoy the extra perks.
The nice thing about this technique is you don’t necessarily need a website to participate. You can use a free blog platform such as WordPress to quickly set up a professional-looking blog, and then use free tools like MailChimp to send out email messages to promote content or offers. Plus, you can use tools like Bonjoro to integrate social media into your marketing plan, and then simply follow the instructions.
Which technique you choose to monetize your website will depend on your goals and the amount of funding you have access to. If you’re looking for a way to earn quick cash, affiliate marketing might be the way to go. Or, if you have a bit of extra money to spend, you can opt for paid inclusions or a combination of the two.