Is a Subscription Website for You?
Have some valuable information to share? Consider adding information products - downloadable white papers, special reports, e-books, etc. - to your website for passive income.
One of the great things about the Internet is the wealth of information it puts right at your fingertips -- much of it absolutely free. How did
we get along without it?
But one of the most surprising trends is the growth of subscription-only websites – websites that sell information to users, either via
subscription fees, transaction fees, or other revenue-generating mechanisms. As the Internet has exploded, finding the right "free" information has become a frustrating task, so users are now willing to pay for more convenient, targeted information.
Is this a trend you can take advantage of? It may be. According to the Subscription Website Publishers Association (SWEPA), there are at least five business models that can profit from a subscription-only website:
Existing newsletters – If you already publish a newsletter, either in print or electronically, you can enhance the value of your subscriptions (and perhaps charge more for them) with online access, either to back issues or bonus items such as special reports. You can also add search engine capabilities or online subscription and renewal functions.
Trade associations – More and more trade associations are becoming predominantly (or even exclusively) online ventures. After all, where else can you publish such a wealth of information for so little money? Online activities can also supplement offline activities such as annual meetings and conferences.
Career advancement and professional skills – This is a broad category that includes publishing advice, tips, resource libraries, forms, etc. about specific career or professional areas. This area could be especially useful to solo practitioners or small firms (CPAs, attorneys, financial planners, etc.) who want to offer a "client-only" area for access to value-added information.
Personality-based or insider tips – Online publishers who have a solid reputation and track record in their field (like the stock market) do well in this area. Celebrities offering special fan access to media and information also fit this category.
Downloadable product library – Do you have proprietary resources (templates, programs, special reports, video or audio training programs, etc.) that you can market online? This area is for you. No shipping department needed -- just take their credit card information (securely, of course) and allow them to download the products at their convenience.
Of course, subscription websites, like many online ventures, take extensive planning and research. And it's important to find both a viable market for your information products and have original content that's worth your asking price. But if you have content that's valuable, the Internet can provide the ideal storefront and profit center for you.
For a wealth of information on subscription websites, visit SWEPA's website at http://www.swepa.com.
Contact me for more information about how I can help your business develop content that can be a profit center for your business!