Boost your revenue from any offer by 20%+ with this strategy

When looking for the highest ROI ways to grow your income as a thought leader, there are often low-hanging fruit opportunities that get easily overlooked.

These are opportunities that require little additional effort or work on your part and can be implemented with minimal changes to your existing product offers, marketing, and sales process.

Earlier this week, I was on a consulting call with the purpose of looking over a business owner’s revenue model to find just such an opportunity for her.

One stuck out at me right away that I would like to share with you because it’s something you can easily apply to your offers. In my experience, this technique boosts the income you generate from that offer by 20% or more.

In this case, the primary source of income for the individual on the call is high-end, high-touch coaching and consulting program where her clients pay for several months of training, personalized guidance, and hands-on feedback.

This offer costs several thousand euros. She doesn’t have any offers at lower price-points. As a result, this excludes a good portion of her list from being able to do business with her because they can’t afford it.

My advice to her was to add a second tier to this high-end offer, one that included the training, tools, and access to the community but didn’t include access to her guidance.

This would do two things. First, it would create an offer that is accessible to those who can’t afford the higher price. Second, it would allow her to make additional revenue from an existing program in a way that doesn’t require more time from her to maintain it. Read more

3 insidious ways monetization shyness is killing your business

To continue our recent content about monetizing your expertise, I want to talk today about “monetization shyness” — something that will greatly hinder your ability to generate income if you don’t identify and fix it.

The danger is that we often don’t realize we’re doing it.

Monetization shyness typically shows up in three forms. Take a look to see which ones might be biting you.

1) Not Selling to Your Audience At All

For years, I — and I’m certain other colleagues — counseled Pat Flynn, popular marketing expert, author, and speaker, that he needed to sell his own courses. At the time, Pat’s income was entirely derived from affiliate commissions. Even though he was doing quite well, it was severely limiting his income growth potential and leaving his business at risk because his sources of income were all ultimately outside of his control. Read more

The Only 3 Ways to Grow Your Income and Impact

How can you know what to focus on in your business in order to produce the greatest new growth?

It can be hard to decide where to invest your limited resources with so many options available to you. As a result, we easily end up overwhelmed, spread too thin, or focused on the wrong areas.

The best way to make your growth strategy clearer, more focused, and more effective is to first realize that there are only three ways to grow your revenue and deliver greater value to your audience: attract more leads, convert more leads, or boost lifetime customer value.

There is a myriad of tactics and strategies you can adopt, but all of them fall into one of these three areas. It’s important to first know which of these three is most important at a given moment based on the stage your business is in and your current goals.

Let’s take a closer look at these three areas and when it’s best to prioritize each one.

1) Attract More Leads

Typically this means building your email list of prospective customers and loyal audience members.

We often think of branding and visibility for growing our business, but these are only effective if they start people on a customer journey with your brand (i.e. they become a targeted lead). This is the first place to focus on a new business that doesn’t yet have a steady flow of leads.

Attracting more leads consists of launching new content marketing channels, putting into place paid ad campaigns, organic SEO, and PR to name a few. Read more

there are seven different income streams you can create with an online courses

3 New Ways to Generate Income with Online Courses

It’s no secret that digital courses are a great way to monetize your ideas and expertise.

But did you know there are seven different income streams you can create with an online course? Understanding these strategies opens up possibilities for growing your business using existing intellectual property.

Often, you can use more than one strategy with a single course offering.

Today, I’d like to share with you three of the seven often-overlooked strategies that I teach my clients and workshop students. The following is pulled from Launch Your Course — one of my online courses.

Strategy #1: Customer/Client Attraction

Online courses are a low-risk, low-cost way for a new customer to do business with you for the first time. It’s a lot easier for someone to invest in a lower-priced offering than it is to invest in services that cost hundreds or even thousands of dollars.

The course gives them a taste of what you can do, earns their trust, and preps them to invest even more in your other products and services.

Small Biz Trends reports that you are 14x more likely to sell to someone who has already bought from you before. They are willing to spend a lot more money the next time they do business with you, too. Read more