As you know that almost 34% of the total website in the world has been built using WordPress; according to W3Tech, WordPress has 58.55% total market share of Content Management System (CMS). Making WordPress the most trusted and loved content management system. And WordPress is making life easy for millions of bloggers for years. This new feature also added by WordPress to add value for its users so that they can generate recurring income from blogging from there readers, customers and fans.
Steps to generate recurring income from blogging
There are already a hundred other ways to generate recurring income from the WordPress blog. WordPress in its blog expressed their concern for the user of their content management system that they want their content creators to be free from the worry of making money and to give their hundred percent in creating quality content. The earning part will be taken care of by this new feature by generating additional recurring income besides there regular income from different ads.
Your followers can be supportive with periodic payments for your newsletters, donations, exclusive access to different courses and books and everything about the payment will be handled by an automated system.
This new feature has some prerequisites. Your WordPress site needs to be set up with the following essential components.
To make this payment feature fully functional, your website should be a jetpack powered WordPress site. This feature of WordPress has come into existence during November of this year after the Jetpack team has completed its beta test during May 2019.
Association with Stripe account
For subscribers to make the payment seamlessly, a Stripe account needs to be configured in your WordPress account. Stripe is an online payment account joint that has tied up with WordPress for this new feature.
Though Indian bloggers cannot use this payment system right now as the service of the stripe account payment system not yet available in this country. You can get the list of countries here where Stripe service is already available. But we can expect that in future the service may be extended to this region also.
A paid WordPress account
Also, this feature WordPress is not providing to those users with a free account in WordPress. Which means you need to become a paid subscriber of this CMS. Below the fee structure for WordPress account is given for your reference.
- WordPress.com eCommerce (Without Jetpack plan) – No fee
- WordPress.com Business (With Jetpack Professional plan) – 2% per sale
- WordPress.com Premium (With Jetpack Premium plan) – 4% per sale
- WordPress.com Personal (With Jetpack Personal plan) – 8% per sale
From the above fees structure, you can notice that if your earnings from your blog are in a lower bracket then most of your earnings may be lost from the fee you need to pay to WordPress. So, the scheme is only profitable to those bloggers who earn from their blog a considerable amount and they also think to choose a higher level plan to optimize their earning adjusting the fee.
How can you use this new feature of WordPress to generate recurring income from blogging
Here are four easy steps that you have to follow to implement this new feature is your website.
1. login into your WordPress account
Log in to your WordPress account with your user id and password.
2. Configure your Stripe account
In this second step, you need to configure your Stripe account. If you are an Indian blogger, then you may not have heard its name as its network has not still spread in this country. But it is already a reputed name in Internet’s payment processors, in fact, the biggest one.
To configure Stripe account, just go to the Earn page In your WordPress account; start using the new payment feature by navigating to the Connect stripe to get started.
3. Complete your setup
To complete the setup process, open your website or blog post and create a new block and insert the payment button.
4. Offer subscriptions
Now you can offer subscriptions for the content in your website specifying the currencies in which you need the amount, payment frequencies and other terms and conditions.
You can also check out this short video made by WordPress for step by step configuration of this payment process.
Okay, now you are all set to go.
As you have already configured the total payment process, you are good to reap the benefits of this new feature. which are as follows:
This will generate recurring income so, kind of peace of mind of getting an income at regular intervals.
Your supporters can pay you at a predefined schedule and also can unsubscribe any service from your website at any point of time.
You can offer subscriptions of different products and content of your website, site membership to your customers and can also accept donations from them.
The total system is automated with automatic collection of membership dues. All kinds of payments are smoothly handled by stripe system easy integration.
Your target audience will be also happy with this service as they can now easily e subscribe and purchase your content, with the seamless transaction process and also all the subscriptions individual subscriber is maintained at one place.