Bite-sized lessons in building an online business that feels good.
The Digital Product Kickstart Kit: Your guide to creating and launching a digital product that sells.
I help online entrepreneurs (like YOU!) launch and relaunch digital products and podcasts to reach more people, grow their audience and become the go-to geniuses in their industry
The revenue rollercoaster is an all too common challenge faced by most business owners at one time or another. Today I share with you 4 tips on how to overcome this problem beyond simply getting in front of more people!
In today's episode we chat about:
– Why focusing on reaching new audiences is not as productive as re-engaging with your existing customers.
– How offering a suite of solutions that solve your audience's recurring problems can lead to revenue consistency.
– Knowing when to seek out your new audience with your current, high-converting offers
– The overwhelming revenue benefits of ongoing and consistent promotion through content that adds value and solves a problem!
I know this is a challenge that I have struggled with, and I know that it's something that many of you also struggle with as well.
It's a challenge creating that consistent income in your business, especially in the early days, but you might also find yourself a few years in and still struggling to smooth out the all-or-nothing revenue rollercoaster in your business.
Now, if people are buying your offers that they're selling, but not enough people are buying them or they're not buying them consistently enough. And it feels like that revenue rollercoaster, some months you're making loads of sales and you're super busy. And then other months there's just nothing.
That might be a sign that you have a good offer and it's something that your audience wants. But it's missing one of the four things that I'm going to talk about. Maybe you aren't getting your clients to come back to you again and again. Maybe you're not getting your offers in front of enough people. Or maybe you're not promoting your offers enough. And I will share with you four ways you can make more consistent sales. Four ways you can overcome those problems. Often I see business owners assuming that if they aren't selling enough, the solution is simply to get their offers in front of more people.
So they start throwing money at Facebook ads. They start spending hours looking for the right trending audio on TikTok and hours looking for the right hashtags to use on Instagram so that they can reach more people and sell more of their offers. But they don't realise that it is so much easier to re-engage an existing client or a past client than it is to acquire a new one. Especially if you have delivered an epic experience.
I don't mean just going full scattergun approach, where you have the library, a Netflix-style library of different things that they can pick and choose from. That's really confusing. It's overwhelming. And it doesn't usually lead to more sales.
But if you're doing it strategically where you are solving different problems, that the same ideal client might have. Then you can use this as a really great way to keep helping the people you've worked with increase their lifetime value to you as a business and stop having to constantly try and get new people into your business.
So when somebody comes to work with you or buy your course, yes. They have one particular problem that you are solving for them with that service or that course, or that membership, or whatever it is. But chances are that they have other related problems you can help them to solve.
We all have problems that show up in our lives on an ongoing basis. For example, what will I cook for dinner tonight? That is a recurring problem that I solved by getting meal kits delivered every week.
Staying consistent with content creation is a recurring problem that I know my audience struggles with. People don't stay for very long because these memberships are just creating lots and lots of ongoing content and their members actually don't have the time to consume more content.
Now if you are a service-based business you might look at offering a recurring service that solves a recurring problem. If you are selling a course, then perhaps there might be a recurring element of support that you can provide, even after they have completed the costs. Or maybe you might discover that your costs need to be a membership instead because it's something that's going to keep showing up. Even if they know what to do, maybe they still need that support to implement it and stay consistent.
Now once you have exhausted your existing audience and when I say exhausted, I don't mean that they are exhausted from hearing about your offers, I mean that all the people who are going to buy from you at this point in time have already bought from you. That's what I mean by the exhausted. So once you've exhausted your existing audience, then you need to get your offers in front of some fresh new people.
And before you pour time and energy and money into reaching new people, we need to make sure your offers actually converting. Otherwise, you are pouring time, energy, and money into a leaky bucket. And this is why I usually recommend not spending money on paid ads for your first launch.
Unless you've got a spare $5,000 and it doesn't matter if it doesn't work, unfortunately, most people go about all of this backward. And they focus way too much time on growing their audience before they've even tested their offers before they even know what they're selling in some cases.
People won't just find your work with me page and work with you. They didn't just find your online shop and buy your course unless you actually tell them about it. You can't just share free content and hope that people like it enough to check out your website and buy from you or work with you. You need to make offers to your audience. If you are sharing enough value in your other content, they won't mind when you're not inconveniencing them by promoting your offers, you're actually giving them a solution to their problems.
And those are who unfollow or unsubscribe because you were selling to them while they were never going to buy from you in the first place, they didn't care about you enough in the first place to buy from you. So why would you bother giving them your energy?
Heads up … Creating your winning digital product needn’t be a series of unfortunate events. Skip the stress and scoop up your FREE step-by-step framework for creating your next digital product.
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I help online entrepreneurs (like you!) to build a profitable online business that keeps growing even when they're offline.