Subscription-based marketplaces are nothing but online platforms that connect people with a mutual interest and monetize from it. Of course, launching and running your subscription-based community platform is not simple as it sounds. The task gets more challenging if you want to create a membership community platform.
How does a subscription platform work?
The community platform has gained much fame due to the fact that it is used mostly by porn performers, sex workers, and adult models. But it doesn’t mean that the platform is restricted to adult content alone; it’s intended for creators of all sorts, including artists, musicians, writers, and so on.
Social networking platforms like Facebook, Instagram, or Twitter except that users have to pay for following creator profiles. The creator profiles are premium, and fans need to pay a subscription cost to follow and access the content. Creators can make money by conducting live cam shows, selling images and videos, running private shows, tipping, and selling merchandise.
As the business model of community platforms is trending these days, most businesses are looking to replicate the same. If you are an entrepreneur who wants to enter the industry starting a similar subscription-based community platform, we will discuss how you can build a subscription platform.
Build your subscription-based community website step by step
The major mistake businesses make when building a subscription website is moving to develop the site straight away. This happens because choosing the design and themes is more exciting, but resist that temptation and start with a well-made business plan.
Here is what you need to do to build your subscription-based community platform.
Create a business plan
Before jumping into building your subscription website, create an image of how your website will look. Decide on a domain name and start planning out the possible choices. The most important part is to plan the details to have a clear picture of your final outcome. This will avoid creating a final product that doesn’t match your expectations and financial goals.
When creating a business plan, answer the following questions to help you have a precise outline and build the subscription website that meets your unique business requirements and goals.
Here are the questions:
Who is your target audience- Who are you building it for?
What are the main features and functionalities?
What are the monetization strategies you plan to implement?
Why should your users subscribe to your community platform?
How are you going to promote it?
Creating the content for your subscription website
If you are a content creator, think about the type of content you want to offer to your audience to capture their interest. The content can be specific to help people master their skills; it can be a webinar to support the community. Make sure the content you provide is interesting and useful for your target audience. Choose a niche you can go really deep and master it before moving to a different type of content.
Set a price for your subscription-based community website
Now that you are planning to put everything together on your subscription website, think about the pricing.
When selecting price packages, consider the following tips:
- Don’t go for high pricing when you are starting out
When creating a subscription website, keep the pricing simple. You can always increase the pricing later as your business expands. First, give attention to what your members are expecting and focus on delivering the best value to them. Keep in mind that while content is important to create value, what is more important is making a good relationship between your platform and the members. Invest in cultivating connections which should be the main purpose.
- Set the worth price
If you offer exactly what your members need, it can contribute a lot to the success quotient of your subscription-based community business. If you feel the content you are offering to your audience is worth the high price you set, don’t think twice; just go for it.
Building your subscription-based community platform
The best way to create a subscription-based community platform is to use a community marketplace software to get all the main features of the original website and customize the clone at the same time.
Choose a professional software like Fanso that comes power-packed with essential features for content monetization. It comes with several built in tools for strategic content and marketing management, live events, private calls, paid posts, and subscriptions.
Discover effective ways to attract new members
Once you create your subscription-based community website, the next step is to attract your first members to your subscription site. If you are a professional content creator who already has an audience, you can send invitations to the list and announce the launch of your subscription website. Send emails that have details about your community platform and set the exclusive discounts.
Come up with promotion strategies
A subscription-based community platform can be extremely profitable, but only if people join your platform. Hence it is important to implement marketing strategies that help you to reach the right audience. First, find your ideal customers, the ones who are interested and willing to subscribe to your website. Then you must think about powerful ways to encourage them to subscribe to your platform. To reach out to your potential customers, you can implement email marketing, social media marketing, etc. Here are some of the marketing techniques you must try.
- Win new members using special offers
Free trials and freemium offers are great to attract new customers. The Freemium model is a blend of free and premium, which provides users basic features for free but allows them to richer features for a premium price.
- Reach audience through email marketing
While email marketing is a traditional marketing strategy, it is one of the powerful marketing strategies you can adopt. You can leverage emails to reach new customers, recover abandoned carts, upsell or cross-sell, and notify members about the latest features and news. Email marketing must be the centre of all our marketing activities to nurture customer relations.
- Partner with popular influencers
Influencer marketing is a powerful tool to promote your subscription-based community platform. Partner with popular influencers who have a huge social following to expand your reach naturally.
- Differentiate your subscription business
Although you are creating a subscription platform, you must implement unique features and functionalities to differentiate your brand from your competitors.
If you are looking to create and launch your subscription-based community platform, building your own website is the first step you must take. You cannot sell your own content but can also invite other creative creators to your platform. Create a multi-feature subscription-based community that helps you increase the audience with its simplicity and quality. Hope this blog will help you to get started and launch a profitable membership-based content sharing platform.