The rise in paid online membership communities has unlocked value where ‘communities’ with similar interests have become the product, but publishers have been slow to adapt, writes Piet van Niekerk.
What attracts hundreds of thousands of women to pay $14.99 a month to Bikini Body Mommy, a private online community for new moms? Or, for that matter, $5,800 annually to join Chief, a private online network “executive women rely on to raise their leadership game”? With 60 000 women on Chief’s waiting list, the 12 000 existing members are offered not exclusive venues, amenities or fancy parties, but people: the opportunity to connect with “powerful senior executives from diverse backgrounds, industries, and organisations – from FTSE350 companies to successful startups”.
A rich universe of independent online communities
The last decade has seen an increase in creators and brands building and nurturing their own online communities, often because membership and attention dwindled due to inconsistent algorithms and the whims of social networks. This has created a rich universe of independent online communities covering every imaginable topic. And as things stand, this trend is set to intensify. Memberpress, a digital company providing a subscription-based learning management system (LMS) for membership platforms, says its research suggests 2024 will see “a pivot towards more personalised and intimate experiences compared to the larger, more generalised platforms seen up to now””
So why are digital media companies not taking advantage of this? Every media executive I speak to sings from the “more personalised content” hymn sheet. Some might say they are, pointing out that for a decade or so many have been pursuing some form of subscription model to overcome the demise of advertising income. Read our recent report about paywall strategies here.
The problem, however, is that too many digital media outlets think about subscriptions and memberships as interchangeable concepts (read: business models). This is a mistake. Kimberly Coleman, co-founder of Paid Memberships Pro, a WordPress plugin for membership sites, warns that understanding the distinction between memberships and subscriptions can make or break the customer experience of your business niche. It will not only ensure that you provide the right product to the right audience but “prevent you from under-selling the true value of your product” (and yes, we did see some considerable underselling of content in the digital space – and then some).
Tap into passions
Kimberley explains that while subscriptions deliver benefits “on a regular basis” (think of a newsletter dropping in your inbox every morning), memberships foster a sense of community, fuelled by a passion. “The community aspect of memberships makes them particularly advantageous in an online environment where businesses (read: publishers) feel constant pressure to retain their customers and generate more revenue.
“Memberships are not just about the product or service. The word ‘member’ itself highlights the significance of a community and social network. Memberships are about building a community of individuals with shared interests and creating a knowledge network. One of the most important benefits of belonging to a membership is that it provides a platform where people can engage with each other, share ideas, and enjoy the benefits of a product or service,” says Kimberley.
In the slew of negative news headlines about the state of media, an increasing number of B2B publishers have woken up to the opportunities of niche media that tap into the passions around which communities – and interest verticals – form. As Mx3 co-founder Cobus Heyl writes on this platform, passion is a powerful driver, whether it’s personal, professional or developmental. The more you tap into audience interests, the better your chances of success. This creates opportunities for membership models, especially within B2B media.
Building a membership ‘castle’
Victoria Mellor, co-founder of Kademy, a membership platform offering training for communications specialists, agrees. She explains that no matter the product or service being offered within a membership community, three value drivers stand universal and supreme:
- The velvet rope: Any content or experience of value to members must securely remain behind “the velvet rope”. “Don’t give anything away.” Exclusive is the word.
- Access both the left and right brain: You sell on the left brain. You sell data, tools and insight. “But ultimately members renew their memberships because you offer right brain things, like recognition, learning, personal development, and building a community of like-minded people.”
- Fill the moat: The more value and connection you offer within the product, the more difficult it is for new entrants to compete. By building an unassailable relationship with your members, you are filling the moat. It becomes impossible for the member to find a comparable service elsewhere.
This element of exclusivity (and access) is at the heart of Hearst UK’s new membership programme, ELLE Collective. Launched in October 2023, members who pay £149 a year don’t have to imagine how the magazine is produced anymore – they can experience it first-hand. According to promotional material, ELLE Collective “puts members in the editor’s chair”, allowing them access to virtual and in-person events where they can meet prominent designers, stylists, make-up artists, authors, and the ELLE editorial team. Read a report about ELLE Collective on the global trade association FIPP’s website.
More membership model ‘essentials’
While the exclusivity element is vital, Nathalie Lussier, founder of AccessAlly, a WordPress plugin for scaling online businesses through courses, group coaching, and memberships, says the best membership models have added several more “essentials” to the list:
- Downloadable content: “Downloadable content has a high perceived value. Especially if it helps members in their own professions or hobbies.”
- Live streaming group sessions: “Live streaming has the advantage of being interactive and opening up to a global audience. Make live sessions available as recordings for those who can’t make it live.”
- Training material: Especially videos, audio, or both. A members-only podcast and short video tutorials work best with a member portal for members to search for videos.
- A community directory or forum: Many of the best membership sites include a community directory or forum where people can easily find others on their journey.
The velvet rope might only be a metaphor for the illusion of feeling special. Still, the reality is that publishers must tap into the opportunities offered by peoples’ passion for belonging, more so in a post-pandemic era.
Join us
- Join us in person at our Mx3 Barcelona innovation summit on 12-13 March, where we will discuss several themes dominating the current and newly emerging media environment. It’s immersive, off-the-record, and down-to-earth, with places strictly limited in line with Dunbar’s 150 ;). See more at Mx3barcelona.com.
- On 4-6 June, we are in Cascais, Portugal for the 46th FIPP World Media Congress, which we organise and host on behalf of the international media body FIPP. Learn more at fippcongress.com.
- There is more on their way soon: check back in at mediamakersmeet.com or sign up for our newsletter to get updated.
