How To Make More Money From Your Community

In my previous article you could read how you can build a community from your blog, and why it?s essential you start creating a cooperation between your customers and staff. Once you have your community up and running, normally the members supply a lot of content and value to each other.

Next to that you can add more value, and also earn more from it. This article will show you exactly how to make more money from the community you already built.

It was Jay Abraham why once taught me there are three ways to make more money: gain more customers, sell more products to your customers, sell your products more often. By focusing on all three at one time you can achieve exponential growth. Following are my tips for all three paths to grow your business.

1. Expanding Membership Thru Trials

A good way to get any prospect over the line is to offer a free or cheap trial. A trial that exceeds 1 month is even better, since the member has enough time to evaluate the value he?s getting for his money – plus others might forget to cancel.

A lot of membership sites and newsletter earn their money this way, by small charges that people forget about and at one point even forget the source of these transactions.

Make members feel appreciated and special right from the start. Give them an unannounced bonus, let them know what they can expect from you or the product in the coming months. Also involve them in your business by thanking them for subscribing, asking them questions and giving them the opportunity to give their thoughts.

2. Strategic Alliances With Complementary Businesses

Often blogs and newsletters include guest appearances by other experts in the same industry. Some newsletters even rely on this type of information. But while you?re setting up an interview or co-authorship deal, why don?t form it into an exclusive strategic alliance?

Most likely the expert you?re working with has more influence or targets a completely different group of prospects. This can mean a lot of money for both you and your partner when you setup what internet marketers call a joint venture. Get him to promote the interview or product in return for a share of the profits.

3. Exclusive Member?s Only Deals

Some businesses over-do this and look like they?re only there for the money and not to give any value to the customers. Therefore the golden rule is to only offer special deals, like lower prices for someone else?s product when they?re completely complimentary to yours.

You may want to do a survey amongst your customers to see what they want, not need, and give them just that by setting up joint ventures with other businesses. By doing this you add extra income streams to a hungry crowd of proven buyers.

4. Interaction And True Cooperation

The community feeling discussed earlier can only be attained by interaction and cooperation between you and the members of your site or newsletter. If you want people to feel ?a part of a special group? and bond with them is has to be special.

Add this special feeling by having clear ways for them to provide you with tips and ideas. Thank them for their cooperation at all times. Next to that you may also want to have a good way for members to communicate with each other, promoting that place often and even joining the discussions.

By implementing these four tactics you?re on your way to exponential growth of your community. In the end your community is there to make you money. The only problem is that once a community starts declining, a snowball effect is started. Nurture your members and in turn they will give you their money for leading and joining them together.