Insightful Membership Site Statistics You Must Know in 2023March 4, 2021
While you might be wondering why to choose a membership website with the membership model within, then there isn't just one reason to build one, but in fact, there are several of them!
Having said that, you would certainly like to know why?
And the simple and straight answer to that relies here on this post with the membership site stats that will drive you to the astonishing stats happening in the membership economy in the recent trends.
The trends have been retrieved from the world's largest market research by the global market research leaders.
If you are here looking for the membership statistics then you have come to the right place as we are exactly going to dive you to some interesting membership site stats at a global level.
You will definitely get to learn lessons through this informative article that will take you to amazing IT leaders who successfully moved to a SaaS (Software as a Service) based on the membership model.
First, let us know about the membership site's reality in a nutshell!
The Truth about the Membership SitesOne of the best parts of building a membership website is that it allows you to generate a stable income source. The ability to get recurring revenue is what makes a membership website extraordinary.
Even though the members of your membership website can have the option to cancel the subscription as most of them will stick to it as it works based on the modules.
As per the user demographics show by the Guide 2 Research, 3.2 million students are solely enrolled in online learning courses.
Further, we will exactly drive you to what goes into a membership website statistics that can dive you with better insights into the growth of the membership economy.
Membership Website StatisticsIn this post, we will show you the stats for the three of the most compelling types of membership.
- Learning Management System (LMS)
- Subscription Website
- Association Membership
The number of subscription-based websites is increasing day by day. It is great for a powerful way to get an online recurring income. We will dive into the statistics to have a glance at some of the crucial stats to understand the subscription membership economy. Here we go:
Well, subscription-based membership businesses can be a great way to generate a consistent income source rather than just a passive income source.
As far as the subscription businesses are concerned! In the upcoming years, there will be a great rise in it. Let's have a glance at some insightful statistics of subscription models.
- As per the Digitalist, till the year 2023, the revenue from the software-generated will be almost 53% through the way of subscription models.
- The expected CAGR (Compound Annual Growth Rate) of the global subscription services market in an automotive way by the year 2023 will be at 71%. Further, by the year 2023, there will be 53% of all software revenue through the means of subscription model according to (Fusebill)
- According to the 99firms, the entire size of the public SaaS market in the year 2021 will continue to grow as per the stats of 73% of the organizations. Plus, the companies spend approximately $2,884 per employee on SaaS subscriptions.
- As per the surveyed study showed by the CFO Research, the recurring revenue models having rapid growth. Above 53% of the Salesforce/CFO Research states that the minimum of 40% of their organization's revenues is through the recurring, sold via a subscription model.
- The reports released by International Data Corporation (IDC) 2021, 53% of all the software revenue will be generated through the subscription model according to the Digitalist Magazine
- According to Paypers, the growth in the subscription billing vendor has grown to 30% to 50% annually.
Learning Management System (LMS)
Learning Management System (LMS) is the software application used for documenting, tracking, and one a powerful system that tends to provide a digital space by delivering e-learning technology courses and training programs.
This type of system is highly advantageous for online training courses for children to pursue higher-level education.
Let us have a glance at the market of the Learning Management System.
- The worldwide Learning Management System (LMS) is expected to rise from USD 13.4 billion (as per the stats of the year 2020) to USD 25.7 billion by the end of the year 2025.
- As per the Fortune Business Insights, their study found that the Learning Management System is supposed to reach $29.7 billion by the year 2026 with a CAGR of 19.1% (Fortune)
- Especially, the region of North America has the greatest market size of Learning Management System (LMS) usage that is highly influenced by the various drivers, restraints, and opportunities. Hence, there is a rose in the quality of an educational institution as they have taken a step ahead towards the advancement of effective education and learning (Research and Markets)
- The revenue from North America is among the highest with the utilization of the Learning Management System (LMS) as they tend to adopt the technology and internet availability pretty faster than any other markets followed by Latin America and Europe.
- According to the finances online, the number of the Learning Management Systems (LMS) has crossed over the 1k as of their last count (Finances Online)
- There are plenty of industries that have been taking the advantage of the LMS and utilizing the Learning Management System (LMS). Among the variety of them, Educational (21%), Technology (12%), and Manufacturing (9%) are the leading ones according to the facts derived from iSpring Solutions
- Of the fortune 500 companies, almost 41.7% uses educational technology to guide the employees at the time of their working hours according to the eLearning Industry.
- When it comes to the LMS (Learning Management System) clients, 89 percent access the online course, whereas 25% of clients access seminars through their tablets, 19% access seminar through their mobile device, and 76% of the clients get their seminars to access through their computer devices.
- Surprisingly, when it comes to the educational institutions, there is a vast improvement as almost 67% of them are planning out for the LMS platforms usage for growing their education businesses to the next step.
Now, when it comes to the association memberships, they are generally small organizations that include charity work alongside.
Association membership is the one's that consist of the trade groups or the individual member organizations. Well, associations are initially meant to share knowledge and to help build their member's group as they support members related to their interest base.
Further, we will look at a few of the useful stats related to the association membership:
- The Demographics of the association described by the Marketing General show the greatest percentage of participants, that is 41%, includes executives in charge of membership. Apart from that, they also stated that an automated email campaign is the game-changer as far as the Individual Membership Organization (IMO) is concerned.
- As per the Marketing General, 57% of the associations make use of the membership lever or type segmentation for marketing purposes. Further, 79% of the associations use marketing automation to send personalized emails and content.
- 53% of the associations go for the renewal based on the fixed calendar date, and when it comes to the grace period, then 66% of associations offer a grace period of up to three months.
- According to the Wild Apricot, when asked about what is the most powerful social media platform accessed? 79% of the organizations utilize Facebook to attract new members, followed by Twitter 38%, Instagram is 35% and 34% for LinkedIn.
- The Growth Zone report of Associate Trends surveyed over 300 association professionals across the United States and Canada shows that the membership engagement rate has got better to 51% by 2020.
Over to YouThat is all for this article! We hope that you have learned some useful insights by looking over the membership site statistics mentioned in this post. On a higher note, it is of the utmost importance to know your audience to build and run a successful membership business.
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Read More other Blogs: 6 Outstanding Ways that Add Great Value to your Membership Community
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