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
It's easy to think that having consistent income in your business means you need to have some form of recurring income—but this isn't the only way. In today's episode, I'm sharing how you can create income consistency *without* launching a membership.
– Three ways to make more sales in your business that you can start doing right away.
– Why building your email list is so important for both nurturing and selling.
– The importance of conversion rates and what you can do to improve them.
– Why creating consistent income isn't just about finding new people, it's about how to better support your existing customers too.
Today, I'm sharing some ways you can create consistent income in your business without launching a membership. I know that there's this big misconception out there where people will tell you, Oh, the only way to create consistent income in your business is to have some kind of recurring revenue offer.
And while yes, having a recurring revenue offer can be super helpful. It can be nice for an evening out the highs and lows in your income but it's also not the only way to create consistent income in your business.
So I'm going to break it down into those three sections, some things that you can do to increase the number of eyeballs on your offers because that will increase your sales, how to increase the conversion rate, and then how to increase that customer lifetime value. Increasing all three or improving all three parts of this equation is kind of a non-negotiable when it comes to creating that consistent income in your business.
Increasing the number of people that your offers reach, increases the number of eyeballs on your offers. And when I say an offer, I don't mean that it has to be like a flash sale or a discount. Your offer can be, Hey guys, for this weekend only, I'm offering this new service that I never usually offer or for this week, if you sign up for my online course, you get this bonus, right?
So you can make these offers to your list with a little bit of a deadline so that if somebody is on the fence and they've been thinking about doing it, that little deadline is going to nudge them off the fence and encourage them to convert.
Now in the footer of all of my emails that go out, we send pretty much daily emails at this rate, at least three emails a week with the new podcast episodes, but in the footer, we also include ways people can work with me. And that's making sure that people who are on my list, who are in my audience see the ways that they can work with me.
And if you're worried that selling to your email list means people are going to unsubscribe and you'd think, Oh, I just want to deliver loads of value to them. You can do both. You can deliver loads of value and still sell to your audience and know that if somebody unsubscribes, they were never going to buy from you in the first place. They probably weren't your ideal client and that's okay.
We're not there to just deliver value and you can't help your audience. The ones who are willing to work with you. You can't help them if they don't know how they can work with you.
So let's do a little recap. Lead magnet is usually going to be a little freebie, like a free ebook or a workbook or a mini course or a masterclass, that's going to be a little piece of free content where somebody has to give you their email address in return for having access to this content. And then once they have signed up for the freebie, they will get a series of emails from you, which is what I call the nurture sequence.
Now in that series of emails, include some different ways that people can take that next step with you. Maybe there's just one offer linked to that one particular lead magnet. And in that nurture sequence, you are showing them, yeah, they're getting loads of value from the freebie. They're getting loads of value from that nurture sequence, but they're also getting that next step so that they can keep working with you because they can't just magically find the next step. And they probably won't go on your website and click through all of the pages and look for the next way to work with you.
So tell them how to, and then promote that freebie. So promote that free lead magnet wherever you can. If you're a guest on somebody's podcast, make that your call to action at the end of the episode. If you're running Facebook ads, run Facebook ads to it. Tell people about that lead magnet they can get on your email list.
Selling gets a really bad rap. People think, Oh, I don't want to be salesy and sleazy. And I don't want to sell to my audience because that's going to just turn them off. But selling doesn't have to be sleazy. If you do it right, it can just be a way of showing your audience how you have the solution to the problem that they are struggling with. And you can make offers to your audience that way without putting them off, without being the sleazy, stereotypical secondhand car salesman that we tend to associate selling with.
And remember, your offers can't help your audience if they don't know about them, so you actually need to tell them about your offers.
Then we're going to look at the second part of that income equation, increasing your conversion rates.
So of the people who see your offers, who potentially land on the sales page, or they see that email in front of them. How can we make more of those people and convert more of the right people?
So firstly, we want to create the right offer. And when I say create the right offer, I don't mean that your offer needs to be this unique, shiny thing that nobody else has ever done. That's not necessarily the right offer. And it doesn't have to be a great, exciting idea either.
The right offer solves a problem for your ideal client that they are willing to pay money to solve.
Number two, communicate those offers with the right messaging. Nobody else is ever going to be as excited about what you are selling as you are. So instead you need to put, you need to communicate your offers in a way that meets your ideal clients where they're at and shows them why it's something they need to prioritise.
Number three, you have the right people in your audience. You're attracting the right people into your audience so you can have the right offer with perfect messaging. But if you are trying to sell it to the wrong people, to the person who doesn't have the problem that the offer solves or who doesn't value solving it enough to spend money on your offer to solve it, then you're going to struggle to convert them, regardless of how great your offer is and how great your messaging is.
Though, when somebody tells me my audience doesn't want what I'm selling. A lot of the time, it's not that they're the wrong people. It's usually that you haven't communicated why they should prioritise it enough to spend money on it.
And it's often a messaging problem, not an audience problem, but the challenge can be discerning between the two of those.
And then finally, the third part, increasing the lifetime value.
So increasing the amount that somebody spends with you over their lifetime. And this isn't about not delivering loads of value in each of your offers. I know this could be a bit of a misconception. It's about solving smaller, more specific problems in each of your offers or delivering smaller, more specific transformations and then helping them to solve more problems or achieve more problems over their lifetime.
So what other problems is your ideal client experiencing that don't already get solved in your main offers? What other problems can you solve for your ideal clients? What other problems might make it easier for them to solve the problems that you already solved?
Those are some ways that you can increase the lifetime value because it is so much easier to get an existing client to come back and help them again and again than it is to constantly try and attract all of these new people into your audience.
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.
Wait, before you go, don’t forget to scoop up …
I help online entrepreneurs (like you!) to build a profitable online business that keeps growing even when they're offline.