The rise of the creator landscape has opened doors for innovators to monetize their unique ideas. With tools like WishList Member, launching a membership site is more accessible than ever.

Having a comprehensive set of membership site statistics can give you the confidence to navigate the evolving landscape.

There's a vast array of membership sites out there. In this article, we zoom in on three defining categories in the industry:

• Educational Platforms (Learning Management Systems)
• Association Membership Models
• Subscription-Based Platforms

This information will not only guide your marketing efforts but also offer a peek into future trends in your niche.

Ready to get going? Let the numbers commence!

Learning Management Systems (LMS) Stats

An increasing number of companies are turning to learning management systems (LMS) to develop online educational platforms or incorporate educational elements into their membership sites. It's an effective strategy to enhance your business's value and expand its offerings.

CourseCure, the integrated LMS within WishList Member ensures a seamless and efficient setup. It's backed with features to help you quickly and easily set up an engaging course to add to your membership site.

Now, let's delve into the LMS platform market.

• A 2023 market research report by Fortune Business Insights revealed that last year the global LMS market size was valued at $16.19billion. This year it's expected to grow to $18.26 billion.
  
  
• By 2030, that number is projeced to grow to a massive $47.47 billion.
  
  
• The fastest growing market is Europe while the largest market is North America according to a report by Straits Research.
  
  
• Growth is attributed to improved internet connectivity, higher adoption of smartphone technologies in educational institutions and the increasing preference of consumers for LMSs.
  
  
• Over 40% of Fortune 500 companies use elearning or LMSs to onboard and train employees according to eLearning Industry.
  
  
• LMS users use the following devices to access their online courses: desktop (89%),  laptop (76%), tablet (25%), and smartphone (19%). This suggests a necessity for LMSs to be responsive in order to cater to the various preferences of students.
  
  
• The top-requested LMS functionalities between 2022-2023 were certification and compliance management (53%), content authoring (15%) and course libraries (15%). (Capterra)
  
  
• The average LMS software budget ranges between $15-$40 per user.
  
  

Association Membership Statistics

Associations typically represent smaller entities dedicated to a specific profession, trade, or philanthropic cause. They often collaborate with individual member organizations, trade collectives, or a blend of both.

The primary purpose of these associations is to foster knowledge exchange, promote best practices, expand member networks, and champion their members' interests.

Unlike mainstream businesses, association membership organizations cater to a distinct audience with specialized needs.

The ethos of each association is often shaped by its industry or cause. Now, let's explore some valuable insights to enhance association marketing and bolster member recruitment.

• The top reasons people join associations are: networking opportunities (64%); continued education (39%) and learning best practices in their profession (33%).
  
  
• 49% of associations reported an increase in membership in 2023, up from 38% in 2022, and 26% in 2021, showing a sharp upward trend in membership uptake over the past 3 years.
  
  
• In 2023, used the following channels to recruit new members: email (85%), organic social media (67%) and association-sponsored events (66%).
  
  
• The top reasons associations believe prospects are not signing up for membership are: lack of perceived value (60%), lack of brand awareness (39%), lack of financial support from employers (29%).
  
  
• 34% of associations invite members to join their online community as a way of engaging existing members.
  
  
• 48% of associations give members a 2-3 month grace period for accessing benefits after their membership expires.
  
  
• Engagement is the most common challenge for associations with 51% equating lack of engagement with the reason why members failed to renew.
  
  
• Innovation is key when it comes to member attainment and retention. However, only 25% of associations reported as very or extremely innovative. (Marketing General)
  
  
• 13% of associations that added, altered, or canceled events observed an increase in member engagement, indicating that it's important to adjust your strategy. (GrowthZone)
  
  
• 60% offer their members automatic annual payments, 14% offer automatic monthly payments, but only 26% offer both options in 2023.
  
  
• Only 38% have a process in place to reengage churned members.
  
  

Subscription Model Statistics

Subscription businesses and services are popping up everywhere, and for good reason. Who doesn't love predictable cashflow and customer loyalty?

Not only that, but consumers are also fast catching on to the convenience of subscriptions over outright ownership. It's no wonder this model is catching on big time.

Let's delve into some pivotal statistics defining the subscription economy. These numbers will show you why everyone's hopping on the subscription train and why it's poised to dominate over the coming years.

• A report early this year valued the digital subscription market at $650 billion.
  
  
• By 2025 it's set to grow to $1.5 trillion according to the latest estimates. (Lineup)
  
  
• 205 million Americans report using at least one subscription service, marking a 23 million increase since 2020.
  
  
• By the end of this year, three quarters (75%) of direct-to-consumer brands are projected to offer subscription services. (RetailDive)
  
  
• Millennials and bridge millennials lead the way in subscribing to retail products, with 39% subscribing to at least one.
  
  
• The average growth of subscription billing vendors stands at between 30% and 50% annually. (The Paypers)
  
  
• According to a survey by Global Banking and Finance, 70% of senior business leaders in key industries including retail and finance believe subscription models are key to growth.
  
  
• 53% of senior finance executives surveyed by the CFO reported hat 40% of their business revenue comes in via a subscription product or service.
  
  
• Over three quarters of businesses say that their subscription service improves customer retention and builds loyalty.
  
  
• Global adoption of the subscription economy is at about 16%, targeted to grow at 30%. (Citi)
  
  
• By 2027, a projected 83% of U.S. households will no longer subscribe to a traditional television service. (Leichtman)
  
  

Tips & Best Practices: What Have We Learned?

Alright, that wraps it up! Hopefully, you've picked up some solid info on the membership game by checking out those three membership types.

There are also plenty of insights to help you switch up your strategy and make better decisions and optimize your membership site. Here are just a few of the tips and best practices we've uncovered:

1. LMS (Learning Management Systems) Best Practices:

• Gamify Your Content: With the rise in popularity of e-learning, it's essential to stand out. Incorporate gamification features like points, badges, and quizzes to make your courses more engaging and interactive. Choose a course builder that incorporates these features (such as CourseCure for WishList Member)
  
  
• Maintain Content Control: Ensure your LMS gives you full control over your content. Being able to make real-time updates, additions, or changes is crucial to adapt to the evolving needs of your audience.
  
  
• Prioritize Responsiveness: The statistics show a diverse range of devices being used to access courses. Opt for LMS solutions that are responsive, ensuring a seamless experience whether your members are on desktops, laptops, tablets, or smartphones.
  
  

2. Association Membership Best Practices:

• Value-Driven Engagement: Given that networking opportunities are a top reason people join associations, consider hosting regular webinars, virtual meet-ups, or forums to facilitate this need.
  
  
• Tailored Marketing: With a sharp upward trend in membership uptake over the past 3 years, it's essential to understand your audience. Use targeted marketing strategies based on the specific needs and preferences of your potential members.
  
  
• Re-Engagement Strategies: Since only 38% have a process to reengage churned members, develop a strategy to bring back those who've left. This could be through special offers, feedback surveys, or highlighting new benefits.
  
  

3. Subscription Model Best Practices:

• Diversify Payment Options: Given the varied preferences for payment frequencies, offer multiple subscription payment options, from monthly to annually, to cater to different member needs.
  
  
• Stay Ahead with Trends: With the digital subscription market projected to grow immensely, keep an eye on emerging trends. This will help you adapt your offerings and stay competitive.
  
  
• Focus on Retention: With over three-quarters of businesses saying subscription services improve customer retention, invest in strategies that boost loyalty. This could be through exclusive content, member-only discounts, or regular feedback loops.

By implementing these best practices, you'll be better positioned to maximize the potential of your membership site, whether it's an LMS, an association membership, or a subscription-based platform.

In Summary

It's clear as day: the subscription world is booming and shows no signs of slowing down. Thinking of launching an online course or adding some steady cash flow to your shop? There's no better time than now.

Remember, it's all about offering a quality service that makes life easier for your members. Do that, and you'll see your profits climbing each year.

And hey, start with the right tools to make setting up and managing your membership site a breeze.

Found this blog useful? Follow us on Twitter, Facebook, YouTube, and LinkedIn for more tips and best practices to make the most of your WordPress membership site.

I was listening to a mentor of mine the other day. We're both on a team together and there was a question going around to everyone: “If you were handed $100 million today, what would you do?” It was just a simple exercise in thinking without constraints.

Anyway, I thought I was slick.

I said, “I'd invest it and live off the interest”. A pretty good answer, I thought. But, my mentor was up right after me and as soon as he gave his answer, I knew he was right. It was one of those “duh” moments. Anyway, he followed on from my answer and said:

“Yeah, I'd invest it, but I'd invest it in MY business.”

Forehead slap. “Duh!”

I know this. The best place to invest, recession or no, is in yourself. Something YOU have control over and input into. Instead of passively dumping it into a mutual fund or stock that you probably won't watch all that close and have no control over.

Your returns will almost always be better.

Because you're truly “invested”.

Not that stocks and mutual funds aren't a good way to diversify, but if you're an online business owner wondering what you should do as we potentially head for another recession… my mentor's advice is as apt as ever.

Invest in yourself.

Of course, how you do that matters, too.

That's one of the reasons we got into the membership game over 13 years ago. It's why we run a technology company built around memberships. It's why we implore online business owners to add membership into their revenue mix.

It's a game-changer.

It alleviates so much of the stress that goes along with running an online business. With most business models, you're starting from scratch each month. If you sell online courses, for example, you start back at 0 courses sold each month. And, if you want to hit your goals, you have sell all those units, again, to new customers.

But, with membership, you don't start at zero.

Yes, people have to renew… and some won't, but even if you only have $100 in recurring revenue from your membership, that's better than zero. Plus, you're not only selling new customers. Of course, you want to add new members and grow your bottom line, but most of your income comes from renewals.

Click here to listen to legendary direct response marketer, Brian Kurtz, talk about the power of renewals and membership

That's existing members simply keeping their subscription.

You've heard the stat, right? It's 6-7 harder to sell a new customer than it is to sell a repeat one. Membership takes that idea to the max. And, with time, you can grow that “floor” of income from $100 to $500, $1000, $5,000 and beyond.

And, recession isn't even a thing you'll think about

In any case, I'm painfully biased because I work at a company that sells membership software, but it's like I said… there's a reason we created the software we did. There's a reason we're in the business we're in. We all genuinely believe in the power of membership because we've watched it change people's lives time and again.

But, up to you.

Something to keep in mind as you navigate some potential future turbulence.

With membership especially, the sooner you get started, the better.

And, of course, if you decide to add membership to your online business, give our membership software, WishList Member, a look. It helps you turn a WordPress website into a full-featured membership site so you can start earning that recurring revenue that'll give you peace of mind — no matter the economy.

To your success!

I live in an extraordinarily rural part of Missouri (my internet is DSL if that's any indication how rural) so we tend to be somewhat insulated from larger economic forces. Gas prices had gone up, but I work from home so I didn't really notice. Prices at the store (I thought) had stayed mostly the same, my energy bill hadn't changed much (presumably because it's a local cooperative that uses a lot of hydro-electric power), and I just didn't “feel” this inflation everyone was talking about.

It was the New York Strips that got me.

Since I can remember they'd been $9.99/pound. Then, one day, they were $10.99. The next week, $11.99. Before I knew it, they'd jumped to $17.99/pound. Okay, what in the world is going on? These were my go-to cut, so NOW I'm paying attention! Who do I get mad at?

Anyway, it illustrates how inflation can be a subtle “tax” on your business and your life. An extra dollar here, another 50 cents there, another 10 cents per gallon at the pump… and before you know it, all the extra money you had left over before is gone. Or worse, you're now short on those monthly bills.

This chart shows the Consumer Price Index since 1959:

This measures the rise in the cost of consumer goods over time. Notice the jump in prices right around the start of 2020. We'll come back to that in just second, but this puts some data to what you've likely been feeling. Prices are indeed rising.

So, what's the cure? We can stomp our feet and grumble about politics (and, there's some valid points there), but I always seek to empower myself. What can I do individually to deal with this situation? So, that's what I'll cover here, but before I do that… it helps to know what we're up against.

So, it begs the question…

What Is Inflation?

There's actually a bit of confusion on this. Most people believe inflation is a general rise in the price of goods, but that's merely an effect of inflation. Inflation, actually, is an increase in the money supply of a particular currency. In most cases, a central bank (like the Federal Reserve) will, through various means, inject a greater supply of money into an economy. For example, the “quantitative easing” you've likely heard a lot about the last 10-15 years was one way the Federal Reserve in the United States injected more money into the U.S economy.

More money sounds great, but it has its problems, namely… inflation. As the supply of money increases, each individual dollar loses its value (because there are more available) and the cost of goods rise. So, inflation essentially erodes purchasing power. Each dollar (or other unit of currency) is worth less than it was before.

That's why it's so devastating. Suddenly, the income you're bringing in from your job or businesses is worth a fraction of what it was. Now, you have to work even harder just to have the same purchasing power you did before. And, oftentimes, you're mostly helpless to do anything about it. The forces that lead to inflation happen at a national level and are dictated by politicians and policy-makers that, frankly, probably don't care much about you.

Of course, that brings up another question:

Why Is Inflation So High?

Often what people mean when they ask “why is inflation so high” is “why does everything cost so much more”. Gas, energy, food, etc — they've all dramatically risen in price. Why? Well, again, it goes back to the money supply. The more money in circulation (inflation), the less each dollar is worth (reduced purchasing power), and the more prices rise. That's the basic equation.

This chart shows the supply of “M2” since 1959. M2 is broad measure of the money supply that the Federal Reserve watches closely. Here's how M2 has grown since 1959:

Notice the spike in M2 since 2020. It's no coincidence, then, that we've seen a spike in prices that last few years. It correlates directly with the dramatic increase in the money supply (M2).

Of course, we know why that spike exists — the U.S. Government increased spending dramatically to deal with the coronavirus pandemic. While many found the help the government provided useful, that kind of spending also has consequences. The inflation we're seeing now is one of them.

Bottom line: the government pumped a bunch of new money into the economy to try and deal with the pandemic and one of the consequences of doing that is inflation. That's (one of the reasons) why inflation (and prices) are so high right now.

What Inflation Means For You

I've covered this a bit, but inflation leads to reduced purchasing power, increased price of goods, eroded savings and more. Essentially, everything you buy will cost more. For an online business owner, this means your costs have likely gone up. Not to mention, the your personal costs in terms of food, gas, energy, and more. So, if you run a traditional online business (more on that in a minute), then you now have to work that much harder to live the life you were living before inflation skyrocketed.

Who Inflation Hurts the Most

Inflations hurts people who are on fixed incomes the most. People on social security, disability payments, most wage-earners, and frankly… most online business owners (given how their businesses are structured). These people's incomes are mostly fixed — meaning they don't go up very easily or quickly. Meanwhile, everything around them costs more. So, they have the same income coming in, but much greater expense going out — and they're poorer overall.

It also hurts savers. If you've spent the last 20 years saving up $500,000 for retirement, that money now won't buy you as much. So, inflation has essentially “robbed” from your savings.

Can Inflation Be Stopped?

This is a 2-sided question. Can the government stop printing money and reduce the money supply? Of course, it could. That also would have certain effects — some good, some bad — and there's great debate about whether that should be done. And, to be honest, you don't have a ton of control over that.

We'll steer clear of all that and focus on the question we think matters more:

What Can YOU Do About Inflation?

We're obviously biased here, but that's one of the reasons we're in the membership game. Membership, in our opinion, is the inflation cure. In the simplest sense, you can simply raise the price of your membership to account for inflation. Problem solved. But, it's a bit more than that.

Having a steady, reliable source of income that you KNOW is coming each month is a game-changer. For most online business owners, they're caught on a hamster wheel. Each month, they start back at zero and will only earn what they actively bring in each month. That challenge gets even harder with inflation because you now need to bring in even more to turn the same profit (because everything costs more).

But, with membership, you don't start at zero. You might start at just $100 or $500 or $5,000 — whatever level your membership is at, it's still better than zero. And, with time, attention, and patience, you can grow that “floor” higher and higher until things like inflation don't even phase you.

It's like well-known online marketer, Frank Kern says:

“It seemed like I was on this endless hamster wheel. I made the decision to only do [Kern's Inner Circle] — $522,000/month in recurring revenue and I'm having the time of my life.”

Even a guy as well-known and skilled as him was feeling the pain of constantly starting at zero each month and he used the power of membership to change that.

That's why we believe membership is the inflation cure. And, that's why we pour our heart and soul into 1) turning online business owners onto the power of membership and 2) creating the tools to help them build this kind of inflation (and recession) proof business. We could have built any kind of software. We chose to build membership software because we genuinely believe in the power of membership.

Of course, plenty still like to do things the hard way.

But, we'll keep spreading the good word of membership because we know it's a game-changer for online business owners or anyone looking to get off the hamster wheel. In any case, if you're interested, our flagship product, WishList Member, helps you turn your WordPress website into a full-featured membership site so you can tap into this membership power.

If you're interested, you can learn more about it here: membership software

In the recent podcast we published with Brian Kurtz, one thing he said that caught my attention was, “Once people renew once, the odds that they'll renew again grows.”

Brian also mentions that “renewals give me the most satisfaction.”

We’re talking about Recurring Revenue. Subscriptions. Continuity.

Right now, there's a lot of talk about our economy and whether or not we're in a recession. I'm not an expert when it comes to economics or what the definition of a recession is.

What I do know is that during COVID when a lot of business owners were struggling, online courses and training were doing better than ever because people were at home, in front of their computers, bored, and they knew that they needed to increase their skillset.

If YOU have a skillset that you can teach others, trust me when I say you have potential for a business.

There are a lot of different models you can use for a membership site, but if you want something more recession proof, allows you to reach more people, and provides a steady stream of income then you need to look at offering subscriptions.

You can make a million dollars by selling $39/m subscriptions one at a time. Look at the news companies, Netflix, Spotify…. And it will probably be easier than selling $2,000 courses one at a time.

Why?

Because the upfront investment is small. And once you get someone on that subscription and they renew, each time the odds they’ll renew grows.

Sell once and collect over the lifetime of that subscription. In addition to what you’re doing to generate new sales.

I would strongly recommend adding some sort of continuity to your membership model if you haven’t already done so.

But even more, I would recommend that you listen to the full interview with Brian Kurtz because there is an unbelievable amount of practical advice and wisdom in it.