If you’re looking for online subscription business ideas you couldn’t do better than an internet business. But how can you offer aÂ subscription service without any productsÂ of your own? The answer lies in a clever business model known as affiliate marketing. With affiliate marketing you can tap into online subscription business ideas without owningÂ your own business. Plus if you choose a good model, there’s more ways to earn besides monthly susbcriptions too.
Online Subscription Business Ideas
Online subscriptions are a great way to earn money. Each customer compounds your income by not only buying a product, but also buying into a monthly subscription. That means each customer is giving you an income, not just a one-off payment. Good affiliate products allow you to benefit from this by paying you a percentage of your monthly sales including subscriptions.
The Affiliate Marketing Model
What is affiliate marketing? Affiliate marketing is a business model which allows ‘affiliates’ to promote other people’s products and earn commissions on the sales. By sending website traffic to products found on the internet, you can earn commissions based on sales credited to your links.
This article, as an example, has links which lead through to affiliate products. If a sale is made through my links, I earn a commission. Affiliate marketing fits the bill perfectly for ‘online subscription business ideas’. You can use the affiliate marketing model to find and promote other people’s subscription services online.
As you sell a product, you earn a commission based on the sale but you also earnÂ monthly commissions for the duration of your customers membership. Providing your customer maintains their membership, you earn a commission each and every month, for the lifetime of that customer. As your customer base grows you can imaging how powerful this model is.
The Power Of Compounding
Many affiliate marketers miss a trick when it comes to promoting subscription products. They don’t realise that the effort they put in can be multiplied if only they chose subscription products to promote. One-off sales only earn ‘one-off’ affiliate commissions. Subscription sales can potentially earn commissions for life, for each and every customer. Let’sÂ imagine your subscription only earns you Â£10 a month. It doesn’t sound a lot but once you have 100 customers you will be earning Â£1000 a month, each and every month. For every new customer your income will grow by Â£120 a year.
Multiple Income Streams
Online subscription business ideas include online software such as hosting providers and autoresponders. These are the tools which online marketers use for a lifetime. Training platforms offer a membership from which affilaite marketers can earn monthly commissions. However, there are other income possibilities from an online business which also generate monthly commissions.
High Ticket Products
High Ticket items allow you to earn 40% on digital products online. Digital products pay you more because there is little cost involved with downloading or accessing products. Storage isn’t a problem either for digital products. Selling high ticket items on the internet can give you a lot of time and financial freedom. In addition to selling membership products which pay a monthly commission, you also get paid commission on each sale. With high ticket products that pay day is a lot better than for low value products.
“Do you want fries with that?” Restaurant chains like McDonalds use that phrase because it earns them millions of dollars across all their restaurants. Up-sells work. By choosing products which share profits from add-ons, you can earn commissions based on sales closed even after you have referred the customer. Earn commissions from up-sells and monthly memberships.
Another way to generate income is with multi-tier sales. At partner level you can benefit from up-sells to the value of $20,000. You can also benefit from sales made by your team. This is a form of network marketing where you are rewarded for building a huge sales team and you earn a percentage of those sales.
Built In Sales Team
Online subscription sales can be closed by a built in sales team too. You don’t have to do the selling, only the referring. A team of sales people can close deals on your behalf. You earn commissions for the initial referral and then contine to earn month after month. A built in sales team lets you concentrate on building your online business. Learn more here.
Online Subscription Business Ideas – The Model
So you can build an online subscription service by sending people to other people’s products around the internet. But how is this done and what’s involved? Online marketers send website visitors into a sales funnel. A sales funnel starts with an email capture page allowing the website owner to ‘capture’ their visitor’s email address. Once inside, the subscriber receives a number of emails relating to their enquiry or interest. These emails are then used to build relationships and promote affilaite products. Much of the process is automated meaning you can work from a laptop providing you have an internet connection.
The tools used to create a sales funnel include other affiliate products. These can also earnÂ online subscription commissions for affiliates. Products such as website hosting, autoresponders and online training and other resourcesÂ include subscriptions.
Why Digital Products?
Digital products can be sold automatically, take little amount of storage and are free to post. As such, product owners or ‘vendors’ can pass a large percentage of the profits to affiliate marketers. Typiaclly digital products can pay 40% commissions based on the sale price. That’s a great mark-up considering you don’t even own the products or even have to put any time or energy into creating products of your own. Access a range of products with multiple income sources and membership commissions here.
Build Your Own Membership Products
You can of course build your own membership service. However, you need to build something which people want to buy. You also need to know how to build an online platform to sell it from. If you already have a service which provdes enough value for people to want to pay again and again for you still need to market it. Learn how to quickly build a fully functional online membership service. You will also need to learn how to market it. Most of the hard work has already been done for you. Access:
- Membership products
- High Ticket Products
- Built in sales team
- Online training and mentorship program