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